Looking to buy new construction (San Diego, Escondido: real estate, how much, attorney)

[mandasand]

Hello,
We are looking to buy a new construction or newer construction home in San Diego. I’m looking for recommendations on areas! It seems like the newer communities are in Escondido and Santee. We are currently living in Stonecrest Community near SDCCU stadium. We absolutely love our neighborhood but homes here that meet our requirements aren’t often available or over our budget.

Our budget is $800k with some flexibility. My office is in RB (Although I’ve been working from home since March) and my husband is a stay at home daddy right now. He plans to go back to work at some point (he’s an attorney). I know there’s plenty of communities in the millions but we aren’t comfortable stretching to that especially in the current economy. That being said. Interest rates are amazing right now and we just need to do it! This will be the home we raise our kids so not short term! Thank you for recommendations!

[davdaven]

Have you done a search for new construction on a real estate site? Here is a Rancho Bernardo development in your price range: https://www.zillow.com/community/pac...82462255_zpid/

[GuyInSD]

The one tidbit of advice I'd throw in when considering new construction is to look VERY closely how much the Mello-Roos is; every community will be different - and it (potentially) could be a VERY substantial amount of $ on your Property Tax Bill.

Oh - and also consider if you're going to be in the Poway Unified School District - their Capital Appreciation Bonds start coming due in about eleven years - which will mean a hit on affected properties at that time.

[someguy10]

Building new yourself will come at a premium in terms of how much home you get for any given budget.

On almost all major real estate sites like Redfin, you can do an advanced search that includes the year built criterion.

[mandasand]

Originally Posted by davdaven

Have you done a search for new construction on a real estate site? Here is a Rancho Bernardo development in your price range: https://www.zillow.com/community/pac...82462255_zpid/

Thank you! I am familiar with this neighborhood, it is adjacent to I-15 and the homes are so small with no yards, so not a great value for our budget!

[mandasand]

Originally Posted by someguy10

Building new yourself will come at a premium in terms of how much home you get for any given budget.

On almost all major real estate sites like Redfin, you can do an advanced search that includes the year built criterion.

I don't want to buy a lot and build a home at this time. It will take at least 2 years and we don't want to wait that long! My friend is building in Poway and after a year, they still don't even have their permits!

[davdaven]

Originally Posted by mandasand

Thank you! I am familiar with this neighborhood, it is adjacent to I-15 and the homes are so small with no yards, so not a great value for our budget!

Most new construction is exactly this, unfortunately. Many new developments try to (1) maximize indoor square footage to justify high prices and (2) force outdoor space to be communal so it can be monetized as part of an HOA. Your best bet is to find a single house built on an infill lot or something older that has been substantially remodeled in the past X years. Keep in mind that newer construction is not designed to last, but remodeling newer construction should be easier. At least that Rancho Bernardo development doesn't have Mello-Roos.

[NORTY FLATZ]

Yep, RB or Poway are good choices.

I'm not sure if San Elijo Hills is built out yet, or not.

[cruitr]

Originally Posted by mandasand

I don't want to buy a lot and build a home at this time. It will take at least 2 years and we don't want to wait that long! My friend is building in Poway and after a year, they still don't even have their permits!

Didn't you used to live here? Serra Mesa wasn't it?

[moved]

Originally Posted by cruitr

Didn't you used to live here? Serra Mesa wasn't it?

She still does, but now wants to buy.