Tuesday, July 30, 2019

Build New in Established Irvine Neighborhood or Buy New

Buying new in Irvine has choices:

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.

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