Petaluma or Marin ?

paydawg said:
YellowFever said:
These are all valid points about the downstairs masters and upstairs kids bedroom problem.

But then... how come Marin is selling so well?  The sales office is telling me they plan to sell beyond 2018 with more extensions.  I was like  :eek: :eek:

Petaluma is a hot seller but seems like Marin's got the Trump train behind it as well.
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I'm guessing both homes hit a "sweet spot" (within IUSD confines atleast) regarding house size and affordability.  USCTrojanCPA -- do you agree?
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Yes, both Marin are in the sweet spot of entry level detached residences under $1m where there are a lot of qualified buyers.
 
I forget the exact #s but I think it's around phase 23 out of 40 and the base price for a plan 1 is around 825ish.
 
Thank you acf.

I went there around mid of Jan. It was Phase 22 and Residence 1 was around 829+.

Not sure how much went up from that time?
 
paydawg said:
YellowFever said:
These are all valid points about the downstairs masters and upstairs kids bedroom problem.

But then... how come Marin is selling so well?  The sales office is telling me they plan to sell beyond 2018 with more extensions.  I was like  :eek: :eek:

Petaluma is a hot seller but seems like Marin's got the Trump train behind it as well.
Click to expand...

I'm guessing both homes hit a "sweet spot" (within IUSD confines atleast) regarding house size and affordability.  USCTrojanCPA -- do you agree?
Click to expand...

it is a big decision indeed. We also changed our mind after the reservation for a piedmont home. Have been in a waiting mode since then. Now Petaluma seems offordable...although  we wanted to have a downstairs bed+bath.

There are a couple homes still available adjacent to Irvine Blvd at petaluma. We were considering one of those as the pricing with the upgrades looked enticing but after a few visits to the home concluded that the price was not worth given the excessive noise from irvine blvd traffic.

Marin residence 2 has downstairs bed,bath but does not have lot lines on all sides unlike petaluma.

With rates tending to creep up along with the prices of these new homes, need to act sooner before getting priced out.
 
Guys,

I need advice on the following. Please help.
We are putting all our savings into down payment. Want to make good decision.

1. Whats the difference between single family residences vs detached condos?
Ex: Marin Vs Petaluma

2. Is Petaluma worth the price? Starting @ 830k for 1680+ SF.
Helena Plan 2 is coming with some upgrades 755k for 1630+SF with 15K upgrades.
Not sure which one to pick.

3. Why there is only one fee for detached condo vs 2 for attached condo
Helena Vs Petaluma

4. How much will it cost for upgrades on Petaluma for the following?
a. Upgraded Paint
b. Tiles across the entire first floor.
c. Backyard landscaping
d. Windows treatment
e. Window blinds,shades and shutters.
f. Additional Cabinets in laundry
g. Reverse Osmosis system

5. Is Reverse osmosis system needed?

Thank you. Greatly appreciate your inputs.








 
oc.queries said:
Guys,

I need advice on the following. Please help.
We are putting all our savings into down payment. Want to make good decision.

1. Whats the difference between single family residences vs detached condos?
Ex: Marin Vs Petaluma

2. Is Petaluma worth the price? Starting @ 830k for 1680+ SF.
Helena Plan 2 is coming with some upgrades 755k for 1630+SF with 15K upgrades.
Not sure which one to pick.

3. Why there is only one fee for detached condo vs 2 for attached condo
Helena Vs Petaluma

4. How much will it cost for upgrades on Petaluma for the following?
a. Upgraded Paint
b. Tiles across the entire first floor.
c. Backyard landscaping
d. Windows treatment
e. Window blinds,shades and shutters.
f. Additional Cabinets in laundry
g. Reverse Osmosis system

5. Is Reverse osmosis system needed?

Thank you. Greatly appreciate your inputs.
Click to expand...

At $755k I don't think Helena is worth it anymore. Back when I was looking it was high 600s. Plus as you said, there's an extra Hoa for Helena as it is attached so Petaluma is a better purchase in my opinion. Attached come with fire insurance and more risk since if there's a fire, all go down hence the higher Hoa.

If you can afford it, Marin I think is the winner vs Petaluma as it's sfr and bigger

Petal

 
SoclosetoIrvine said:
At $755k I don't think Helena is worth it anymore. Back when I was looking it was high 600s. Plus as you said, there's an extra Hoa for Helena as it is attached so Petaluma is a better purchase in my opinion. Attached come with fire insurance and more risk since if there's a fire, all go down hence the higher Hoa.

If you can afford it, Marin I think is the winner vs Petaluma as it's sfr and bigger

Petal
Click to expand...

Thank you.

Marin is out of our range. We can afford Petaluma Plan 1 at max.
 
oc.queries said:
SoclosetoIrvine said:
At $755k I don't think Helena is worth it anymore. Back when I was looking it was high 600s. Plus as you said, there's an extra Hoa for Helena as it is attached so Petaluma is a better purchase in my opinion. Attached come with fire insurance and more risk since if there's a fire, all go down hence the higher Hoa.

If you can afford it, Marin I think is the winner vs Petaluma as it's sfr and bigger

Petal
Click to expand...

Thank you.

Marin is out of our range. We can afford Petaluma Plan 1 at max.
Click to expand...

Get Petaluma and don't look back
Detached will always appreciate more, plus save around $200/month on hoa, making the cost difference a month minimal

Go look at stonegate resale for San Mateo

You will appreciate detached vs attached...trust me on this

 
based on what I know,

Upgraded paint is like 3K.

Tiles downstairs should not be so expensive as you only need to cover the foyer and great room area(entry, kitchen,dinning come standard with tiles), so guessing another 2k.

 
FYI

Try not to do those upgrades with Irvine unless completely necessary like electrical things

Or else those get added into the cost of home and you pay interest on it

Out of things you listed
Paint is easy after
Shutter is easy, I have a contact msg me if interested
Tile/wood is cheap after too.

 
oc.queries said:
1. Whats the difference between single family residences vs detached condos?
Ex: Marin Vs Petaluma
Click to expand...
Both Petaluma and Marin are detached condos. 

A true SFR will have a driveway, minimum of 10 feet front setback, 10 feet rear setback and 5 feet side setback.  Any property did not meet these minimum setback standard can not qualified as a true SFR.  However, builders here in Irvine often applies alternative front and rear setback permit so only a portion of the home meet that SFR criteria and some portion of the home does not and these properties are still qualified as SFR. 

Petaluma meets all the criteria of a SFR except there're no 10 feet front setback and no driveway, therefore its a detach condo.  However, there are a few Petaluma that are actually a true SFR with full 10 feet+ front setback and driveway but those are extremely rare.

Marin is a zero-lot line property and it is more deviated from those true SFR criteria than Petaluma does. 

oc.queries said:
3. Why there is only one fee for detached condo vs 2 for attached condo
Helena Vs Petaluma
Click to expand...

Attached condo like Helena share a common roof, common building structure etc, and a 2nd HOA is needed for paying this common structure's maintenance, insurance etc. 

Some detached condo like Trellis Court, although its detached, it also have 2 HOAs.  Its all depend on the design of the property and I like the way Marin setup so that there's only 1 HOA instead of 2. 

 
oc.queries said:
Guys,

I need advice on the following. Please help.
We are putting all our savings into down payment. Want to make good decision.

1. Whats the difference between single family residences vs detached condos?
Ex: Marin Vs Petaluma

2. Is Petaluma worth the price? Starting @ 830k for 1680+ SF.
Helena Plan 2 is coming with some upgrades 755k for 1630+SF with 15K upgrades.
Not sure which one to pick.

3. Why there is only one fee for detached condo vs 2 for attached condo
Helena Vs Petaluma

4. How much will it cost for upgrades on Petaluma for the following?
a. Upgraded Paint
b. Tiles across the entire first floor.
c. Backyard landscaping
d. Windows treatment
e. Window blinds,shades and shutters.
f. Additional Cabinets in laundry
g. Reverse Osmosis system

5. Is Reverse osmosis system needed?

Thank you. Greatly appreciate your inputs.
Click to expand...

SFR will always maintain value/appreciate more than detached town home, which in turn will always maintain value/appreciate more than attached condo.

Do structural things through the builder (bones) and everything else after (window coverings, flooring, garage coating, window treatments, etc.)  Besides being much cheaper it won't go into your property tax basis.
 
BruinDoc said:
SFR will always maintain value/appreciate more than detached town home, which in turn will always maintain value/appreciate more than attached condo.

Do structural things through the builder (bones) and everything else after (window coverings, flooring, garage coating, window treatments, etc.)  Besides being much cheaper it won't go into your property tax basis.
Click to expand...

Say for example, I'm going with some 20K upgrades.
PT 1.5% on 20K upgrade = $300 per year.

$300 per year PT, I will pay if I go with builder.

But, if that 20K is included in my mortgage amount.
For which I will pay $850 as interest per year, which in turn I will get tax exemption.
For example @25% tax exemption, I will get $210 as refund.

So its $90 extra per year, If I go with builder upgrades.

Is my understanding correct?

 
Your PT on the upgrades won't be 1.5%.  If you saw a flier that said 1.5% effective rate, that is because they're taking the 1.1% base rate and adding a fixed $ amount for the Mello Roos then recalculating the total of those 2 as a % of the purchase price.  So your PT on the $20k upgrades will only be 1.1% over a 30 yr loan. 

Also your $850 interest per year is a bit high and will reduce year after year.  $20k at 4% over 30 yrs is $780 the first year, then $766, $750, etc.

Lastly, your comparison doesn't make sense.  You're comparing the cost of getting upgrades through the builder against the cost of financing those upgrades through your mortgage.  If you bought the upgrades through the builder, wouldn't you be financing them through your mortgage?  You'll be paying the extra property tax and the extra finance expense.  These items are inclusive of each other, not comparable.
 
aquabliss said:
Your PT on the upgrades won't be 1.5%.  If you saw a flier that said 1.5% effective rate, that is because they're taking the 1.1% base rate and adding a fixed $ amount for the Mello Roos then recalculating the total of those 2 as a % of the purchase price.  So your PT on the $20k upgrades will only be 1.1% over a 30 yr loan. 

Also your $850 interest per year is a bit high and will reduce year after year.  $20k at 4% over 30 yrs is $780 the first year, then $766, $750, etc.

Lastly, your comparison doesn't make sense.  You're comparing the cost of getting upgrades through the builder against the cost of financing those upgrades through your mortgage.  If you bought the upgrades through the builder, wouldn't you be financing them through your mortgage?  You'll be paying the extra property tax and the extra finance expense.  These items are inclusive of each other, not comparable.
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You are right.  :D.
Thank you.

If I put that 20K from my hand after thru contractor, then I wudn't pay both the interest and PT. I understand.

1.1% of 20K = 220$ PT  for 30 years - can be avoided if I do after thru contractor.

But they are saying builder warranty wont cover, If I go with contractor.
 
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