Need help with a decision in Pavillion Park/Great Park

F

FranchisePlr

New member
I finally got a call from 2 builders in Great Park.

Beachwood from Lennar, Plan 2 is at $905,000 and has a guest suite and SFR. 2479 sq foot,  in between a couple of homes.

Springhouse from TM, Plan 3 is at $870,000 and has a similar guest suite but it is a detached condo.  2483 sq foot corner lot.

I inquired about Whisler with William Lyon, Plan 2 is at $906,000 but no guest suite but has a loft.  2487 sq foot.

Here is my take:
Beachwood has a better guest suite, probably could rent out to my friend for a little more due to washer/dryer and full size refrigerator but I don't like Lennar too much.

Springhouse has a nice layout plus the builder is one of the better ones.  But it is a detached condo (vs SFR) and the guest suite is a tad bit smaller netting smaller rental income.

Questions, does SFR vs detached condo really make a difference?  Plus does having a corner lot really add to value?

Last question, should I just rent for now?

Thanks all!!



 
Las Ventanas by Taylor Morrison in Portola were the last similar sized homes they built.  They were SFRs in the 700-800k price range.  Crazy to see TM producing detached condos that cost more than SFRs.
 
irvineboy said:
Las Ventanas by Taylor Morrison in Portola were the last similar sized homes they built.  They were SFRs in the 700-800k price range.  Crazy to see TM producing detached condos that cost more than SFRs.
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If interest rates weren't so low, I doubt houses would have gone up this much. Coulda, woulda, shoulda. Taylor Woodrow (the company TM was formed from) sold Mahogany for half of what Springhouse are going for and a fraction of the property taxes too.

Maybe some day we'll all wish we could buy a condo for under a million.
 
2012 to 2013 is a world of a difference as far as home appreciation.  Like "Ready2Downsize" said, "Coulda, woulda, shoulda".
 
Question, when I get the appraisal, would I get compared to other Detached Condos or could SFRs be included that are similar sq footage?
 
FranchisePlr said:
Question, when I get the appraisal, would I get compared to other Detached Condos or could SFRs be included that are similar sq footage?
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It would compare whatever is similar to your place. If you buy a condo it will compare to another sold condo etc...
 
Would getting a SFR be a bit better since I would comp out to other SFRs versus the other detached condos?

I just think Lennar is a cheaper built product though....
 
Just down the line...I know it isn't going to influence the decision now but in general, everyone tells me to get a SFR vs Condo
 
FranchisePlr said:
Just down the line...I know it isn't going to influence the decision now but in general, everyone tells me to get a SFR vs Condo
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Detached condo is a funny beast.  Most people think of it as an SFR.  Depending on how the HOA is set up, it'll be very much like an SFR.  And an SFR in an HOA, IMHO, isn't really an SFR, they're encumbered with CC&Rs.  Which is the same problem condos have, CC&Rs.

The primary difference boils down to two main issues.  How much and what maintenance of the property itself you are responsible for (can vary greatly with detached condos) and how much land you have 'exclusive' use.

In condo, you own no exclusive use, the front yard belongs to the association, even though you may be on the hook for maintaining it to association guidelines.

In an SFR, you 'own' the front yard, however with an HOA, you need to maintain it to association guidelines and may have no ability to restrict people from accessing it, even though you 'own' it.

i.e. Technically, someone could come sit on your front yard. In the condo, you have no rights to do anything about it, in an SFR, you could tell them to get off, maybe.  In either case, you probably can't stop the neighbor from letting their dog take a dump on it and leaving it behind for you.


 
Condo, detached condo or SFR... the value will first be determined by location, and with those 2, they are basically in the same area.

Questions:

1. Do the detached condos in PP have a sub-HOA?

2. How is Springhouse a detached condo? Looks like an SFR to me (at least the ones on a street and not a motorcourt).

I prefer the Springhouse Plan 3 over the Beechwood Plan 2... the floorplan feels more like a home. And the location of a corner lot is a premium to me.

Edit: Sorry I meant Springhouse not Sagewood.
 
nosuchreality said:
i.e. Technically, someone could come sit on your front yard. In the condo, you have no rights to do anything about it, in an SFR, you could tell them to get off, maybe.
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this doesnt make sense. and if ive learned anything from judge judy, its that if it doesnt make sense its not true.  in columbus square there is a product where there are 4 or 5 homes together that share a courtyard, you open your front door and you are in the courtyard, in this scenario there isnt really a yard to call your own as everyone in the cluster shares the courtyard - but you dont own a yard. if you are in a detached condo, for example, casero in portola and someone sits on your stoop in your front yard, you own that front yard. you can kick them in the ass till they are of your stoop.
 
qwerty said:
nosuchreality said:
i.e. Technically, someone could come sit on your front yard. In the condo, you have no rights to do anything about it, in an SFR, you could tell them to get off, maybe.
Click to expand...

this doesnt make sense. and if ive learned anything from judge judy, its that if it doesnt make sense its not true.  in columbus square there is a product where there are 4 or 5 homes together that share a courtyard, you open your front door and you are in the courtyard, in this scenario there isnt really a yard to call your own as everyone in the cluster shares the courtyard - but you dont own a yard. if you are in a detached condo, for example, casero in portola and someone sits on your stoop in your front yard, you own that front yard. you can kick them in the ass till they are of your stoop.
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I don't think you own that portion.  You only own your side courtyard or rear yard.
 
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