So....how much is a driveway really worth?

D

DrTravel

Active member
There is one San Mateo home listed as backup that has a true driveway. We can compare it to others that are the same Plan 3 but without a driveway - which is all the rest - to get a true indication of what the market is willing to pay for a driveway.

10 Sedgewick listed at $869,000 (sold in 10 days) - the driveway house

Active listing
36 Norwich listed at $828,800

Last five sold
114 Pendant $815,000 on 12/5/15 (114 = death house)
102 Pendant $838,888 on 10/23/15
34 Norwich $815,000 on 8/11/15
101 Devonshire $820,000 on 7/3/15
20 Norwich $840,000 on 6/25/15
Average = $826K

What do you think will be the actual sales price of 10 Sedgewick?

 
 
DrTravel said:
There is one San Mateo home listed as backup that has a true driveway.

What do you think will be the actual sales price of 10 Sedgewick?
Click to expand...

It is higher than listing and higher than $871Khttp://www.talkirvine.com/index.php/topic,14188.msg285726.html#msg285726

For that 10 Sedgewick, is more than just the driveway, it also got bigger lot and look like a true SFR instead of detached condo.

Maybe the actual sale price is $880,888. :) 
 
DrTravel said:
There is one San Mateo home listed as backup that has a true driveway. We can compare it to others that are the same Plan 3 but without a driveway - which is all the rest - to get a true indication of what the market is willing to pay for a driveway.

10 Sedgewick listed at $869,000 (sold in 10 days) - the driveway house

Active listing
36 Norwich listed at $828,800

Last five sold
114 Pendant $815,000 on 12/5/15 (114 = death house)
102 Pendant $838,888 on 10/23/15
34 Norwich $815,000 on 8/11/15
101 Devonshire $820,000 on 7/3/15
20 Norwich $840,000 on 6/25/15
Average = $826K

What do you think will be the actual sales price of 10 Sedgewick?
Click to expand...

Considering how few people use their garages for parking their cars, it's probably worth a lot!
 
It is higher than listing and higher than $871Khttp://www.talkirvine.com/index.php/topic,14188.msg285726.html#msg285726

For that 10 Sedgewick, is more than just the driveway, it also got bigger lot and look like a true SFR instead of detached condo.

Maybe the actual sale price is $880,888. :) 
Click to expand...
Crap -  I didn't see the other post. Time to get flamed for being a lazy SOTI (son of a talk irviner). I now see one side of the house fronts Sand Canyon - you know that street that averages 2.45 trash trucks per minute. That's a guestimate but more accurate than many other statements of fact found in these forums. I would never be interested in this location because of the triple whammy - noise, rumbling and of course, aroma. A "reliable" source told me that someone told another person that the sales price will be $888,888.88.
 
Considering how few people use their garages for parking their cars, it's probably worth a lot!
Click to expand...

Back in the 1990s I lived in a neighborhood where everybody had 3 car garages. Everybody's driveway was full of cars - couldn't find a place to park on the street. Quite a few actually converted their garages into some sort of room. All permitted - I'm sure. Then they started building homes with 3 car garages but with an room conversion option - see this a lot in newer Northwood and Westpark. Now houses only come standard with 2 storage units upfront where you MIGHT want to park a car.
 
Based upon what I have seen with several builders throughout the years...a driveway home carries a premium of $30k to $40k.
 
Cost/worth aside, I love me a driveway home. In fact no driveway is a deal-breaker for me. They often come with bigger backyards as well it seems.
 
acf said:
Cost/worth aside, I love me a driveway home. In fact no driveway is a deal-breaker for me. They often come with bigger backyards as well it seems.
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Heh... not in Irvine new builds.

I think it was Cypress Village where they had driveways on motorcourts but very little front yard and very shallow back yard.
 
I've passed on many SFH due to lack of a full driveway. Just doesn't seem right to not have 2 spaces for guest parking on your property.
 
Irvinehomeowner, hah you are right.

By a driveway house, I mean no motorcourt either!

irvinehomeowner said:
acf said:
Cost/worth aside, I love me a driveway home. In fact no driveway is a deal-breaker for me. They often come with bigger backyards as well it seems.
Click to expand...
Heh... not in Irvine new builds.

I think it was Cypress Village where they had driveways on motorcourts but very little front yard and very shallow back yard.
Click to expand...
 
so a motorcourt is like having a ginormous driveway!
park 10 priuses (plural prii?) of course it'll encroach your neighbors and a lovely hoa letter

driveway is a must for me when looking for a new home, especially where people don't like to park in the garage and street parking could be an issue
 
I drove by Jasmine CV a few days ago and I noticed quite a few people who lived in the inner units would park their cars right up along their garage door. I guess it does make it convenient especially if you know you will leave your house in a few minutes.

I don't think it's an HOA violation due to the sheer number of people who did it.
 
100% agree with those who have said that would not buy without a driveway or in a motorcourt even if it has a driveway.  Those were 2 things that were deal breakers on my list.  Even though we have a full driveway, our backyard is small.

One of the neighbors here parks in the motorcourt all the time.  My other neighbor has said he's learning patience and hasn't said anything yet, he obviously lives in the same motorcourt.  So glad I don't have to deal with this, and I would have said something already if his car was constantly parked in my way.
 
superbobbay said:
I drove by Jasmine CV a few days ago and I noticed quite a few people who lived in the inner units would park their cars right up along their garage door. I guess it does make it convenient especially if you know you will leave your house in a few minutes.

I don't think it's an HOA violation due to the sheer number of people who did it.
Click to expand...

It's definitely a violation, I saw it when I was signing docs and my friends in CV have also seen a similar clause.  They are nicer than me though, they haven't said anything to their neighbors yet.
 
In Woodbury it's a violation where I currently live. there are
signs up at every motorcourt infact stating this.
 
test said:
If everyone would just park in the motor court like this the streets would be clear  :)

2s8g4xu.jpg
Click to expand...

http://www.talkirvine.com/index.php/topic,3948.msg224745.html#msg224745


 
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