Tuesday, July 30, 2019
Build New in Established Irvine Neighborhood or Buy New
1. Buy New Construction in the Great Park neighborhoods
2. Buy New in Orchard Hills
3. Tear Down in an existing neighborhood like University Park & build new.
It's worth comparing. An existing home in University Park can be purchased for $875,000 on a standard 5,000 square foot lot. Construction costs of a 3,000 square foot house could run $750k. Total is $1,625,000 approximately. End value would be close to $2M. Of course, this home would be your ideal floor plan and with your chosen finishes.
New build at Orchard Hills - Ravello in the Reserve at Orchard Hills:
Ravello homesite 39 as of today offered at $1,941,463: 3,455 square feet, 4 bed, 4.5 baths, 2 car garage - very well appointed.
If you have the luxury of time, then a conversation with a local builder would be wise. You can buy into an established neighborhood and get more value.