Wish-list for a house.

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Oracle_IHB

New member
Hi guys,



I will start looking for a house in about a year or so. Here is the list of ideal location, price and size I have worked up in my mind which I would like to discuss with the experts here. Please let me know what you guys think. What else would you like to add? The list is not in a particular order.



1 ? Single Storey ? Benefit ? Reduced maintenance. Not sure how though. Not an option if I go for a Townhouse.

2 ? In a good school district ? Benefit ? I have school going kids.

3 ? Not next to a school ? Benefit ? Avoid school traffic

4 ? Not near freeways ? Benefit - Avoid highway noise and what else? BTW how much in terms of mile in ?near??

5 ? Not near major roads ? Benefit ? less traffic and less noise.

6 ? Not near rail tracks ? Benefit ? Avoid noise. Again how do you define ?near??

7 ? Not next to a strip mall - ? Benefit ? The nice grocery store may close down and get replaced by a strip club.

8 ? Not big ? Benefit ? Less price, maintenance, utilities, furniture and property taxes. My definition of big is anything over 3 BR/2 BA

9 ? No Mello roos ? Benefit ? Save money.

10 ? Low Hoa ? Benefit ? Save money. What is the acceptable range?

11 ? LOW PRICE ? How much is the ideal price per square foot?

12 ? LOCATION ? 1) Irvine 2) Lake Forrest 3) Mission Viejo/RSM/Aliso Viejo. PS I work in Irvine. This is where I need most help.

13 ? Type ? Single Family or Townhome or Condo? What are the pros and cons of each?

14 - Not near powerlines - Again how much is "near"?



Thanks

Oracle
 
Below was our list and we had been looking for three years and we finally decided to catch the knife and buy a property in Tustin Ranch that came very close to meeting all our hard criteria. I am glad we didn't buy two years ago but I'm afraid I won't be able to say the same thing two years from now... That is why I am already getting buyers remorse even before we fully close the escrow....



1) Location: Irvine and Tustin Ranch (we live in LA and wanted to stay closer to LA and so didn't like south orange county much)

2) Good school district (no school aged kids yet but it does obviously impact the property prices in the area)

3) SFR with Min 2200 sq ft and Min 4 Bedrooms

4) Built after 1990

5) Low HOA and No/Low Mello Roos

6) Decent size private yard with no neighbors looking into our yard while NOT backing up to a noisy street

7) $750K or less



Items 6 together with price limit proved extremely hard to meet anywhere in Irvine and Tustin Ranch. That is why we decided to bite the bullet when we finally found a property that met all of our above criteria plus some extra bonueses (like gated community and Ladera elementary, one of the top scroring elementary schools in the whole orange county).



Having been a frequent visitor to this forum, I guess I should already prepare myself to write off my 20% down payment ;-( But then again, having locked 4.875% super conforming 30 yr fixed, our total monthly payments (incl insurance/taxes) would be around $3800, some $1000 of which I should get back as tax benefit during the first few years. This would put it on rental parity and so we may be Ok as long as I manage to keep my job.



Knowing the people on this forum, I expect you guys would make our buyers remorse even worse, but, hey, anyone out there who would help alleviate our remorse? :)
 
Distances to "hazards"



14-powerlines-no scientific evidence of harm, just a psychological problem so 'out of sight is out of mind'



7-strip mall-combine with

3-school-also combine with

5-major road- (not freeway)-mostly you are trying to mitigate noise/strangers, so a few blocks (200 meters) is probably enough



6-RR tracks-noise is louder, so maybe 500 meters/yards, depending on topography



4-fwy-here the science is clear, you want to be at least 500m from a small one (241/73, etc), 1000m from 405/5/91/55.

reputable studies show a clear deficit on children's emotional and intellectual development, unclear whether due to the noise or the pollution

reputable studies show a clear effect on maternal and newborn health
 
Mine if fairly simple or not:



1. Small (by small I mean around 1500 sq ft)

2. Big lot (at least 7,000 sq ft)

3. In a safe neighborhood

4. Not a major fixer-upper
 
[quote author="freedomCM" date=1237780310]Distances to "hazards"





4-fwy-here the science is clear, you want to be at least 500m from a small one (241/73, etc), 1000m from 405/5/91/55.

reputable studies show a clear deficit on children's emotional and intellectual development, unclear whether due to the noise or the pollution

reputable studies show a clear effect on maternal and newborn health</blockquote>


I live about 250 yards from the 55, and trust me, this is too close. The noise isn't too bad, but there is a fine black dust that covers everything. If I had to guess, I would say it is car/truck exhaust dust. From what I've read, that kind of dust exposure, over a long period of time, is not good.
 
I am easy.



No garages visible from the street for me and my neighbors. I can't stand looking at them.



This is my only criteria.
 
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