What do you consider when looking at real estate?

I

irvine_grad_IHB

New member
Hi Everyone! It's my first time starting a discussion so I apologize if this isn't appropriate or anything.





I'm a newbie when it comes to housing and I'm currently trying to put together a spreadsheet that gives me a good overview of a property and the general costs associated with it. I'm hoping to buy my first home around the OC after housing prices reset. What do you all consider when researching homes? Here are the things I currently have in my massive home info spreadsheet:





1. Taxes


2. HOA


3. Mello Roos


4. School District Ranking


5. Surrounding home values


6. Crime Rate


7. University/college nearby


8. Average rental rates in area


9. Age of home (and therefore how much to put aside each month for repairs)


10. Repairs needed


11. Loan rates (My spreadsheet only calculates 30yr fixed, of course )





I'd be happy to send you guys the spreadsheet if you want it. It currently takes in the above information and spits out a payment by payment cost.





I'm just looking for a way to keep track of all this info so it isn't scattered between random bookmarks/stickies/notes.
 
<p>It is great info and I have a slimmer version for properties I've been tracking.</p>

<p>Given the down market right now, I'm not likely to invest much more energy in this until things get a bit more serious.</p>

<p>SCHB</p>
 
Hello Irvine_grad,





If you're intending to purchase a "home" where you'll be living in, you might want to consider the following:


1) Traffic considerations -- access to freeway, local road conditions during rush hour, proximity to rail station, etc.


2) Demographics -- are you going to be the only apple in a basket of oranges? If so are the oranges accepting, hostile, or indifferent to apples?


3) Personal enjoyment of the property -- does the house make you feel good, and will you be happy living in it? Do you enjoy the view from the backyard? Is the view going to be blocked by a pending construction in few months?





As for the list that you provided, I'd comment that property taxes are eligible for tax deductions, but HOA and Mello Roos is not. You could spend $$ to imrpove your own property, but you can't "improve" the local neighborhood by yourself. Having UC Irvine nearby would make your home a good rental property, if that's a consideration. Companies move all the time but I have yet to see an UC Campus move. New homes have less problem with termites than old ones. Check the HOA to make sure they don't have any pending big-ticket items that would result in a large assessment.





Since we're in a down-market, you can take your time and shop leisurely. Take your time and find something that you're really happy with!
 
Irvine_grad,





I would also consider the surrounding village. In other words, contrasting the HOA fees with the amenities provided by the village.





For instance, Woodbridge charges $66/month. For that, you get two lakes, nice pools, etc.


Woodbury charges $120/month. For that, you get nice pools, parks, but no lake.


El Camino charges nothing, and you get nothing (I think).





-OCR
 
does anyone know more about the toxic plume from el toro that's supposedly in the lake water in woodbridge? i'm surprised its not more widely discussed in here.
 
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