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Old 07-09-2013, 05:53 PM
 
1 posts, read 1,549 times
Reputation: 10

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We moved to irvine area a few month ago and is looking for buying a house. We now have two candidates, both single family houses,similar sqft, similar price. One is in west irvine, the other is in the university park area (close to UCI).

West irvine house, newer, built in 1999, no HOA, Tustin school district (Beckman high school)
University park house, built in 1970s, ~$~200 HOA, top high school - univesity height, need more update inside.

Need help to make the final decision. Which house would hold its value better?

Any comment is welcome.

Thanks.
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Old 07-10-2013, 01:36 AM
 
823 posts, read 1,786,834 times
Reputation: 453
I don't know the areas enough to compare, but I'm sure they're both nice neighborhoods. If they were similar in sqftage, i would go with the newer house in West Irvine, mainly because there's no HOA breathing down your neck about every little thing and I think in a resell, having no restrictions would be an attractive feature for buyers.
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Old 07-14-2013, 09:16 AM
 
Location: Riverside Ca
22,146 posts, read 33,563,927 times
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Go with no HOA especially if its the newer house. Beckmann hs is the more "prestigious" out f all the HS in TUSD. It is also getting a new building built on the premises and its overall a good school. It does get crazy at drop off and pick up time. The school has a fairly new science building. Tustin USD is a pretty good district.
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Old 07-14-2013, 06:57 PM
 
127 posts, read 240,309 times
Reputation: 138
If you can afford to buy a single family home near UCI I'm sure you are pretty wealthy so HOA or no HOA of $200/mo. should be of no consequence to you.

Whether the home will hold it's value is a speculative gamble, prices are likely to fall in my view due to interest rates rising and a plethora of other problems for the mortgage market going forward (like the effects of government support being weaned). My suggestion is that buy the home only if you can solidly afford it and can hold long term (20+ years), short term values may decline 20-30% and if you may want to sell in 7-10 yrs you may find yourself in a soup.
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