New development in Fremont (Patterson Ranch in Ardenwood) (home, cost)

[Ruth4Truth]

OP, if you're spending this kind of money on a home, why not get a place in north Berkeley, Claremont (south Berkeley hills) or Lafayette? The Lamorinda area has great schools.

[Oh Me]

I thought the age of "McMansions" was over

[Perma Bear]

Originally Posted by Oh Me

I thought the age of "McMansions" was over

Garish displays of wealth are always popular here

[NewbieHere]

Originally Posted by WizardOfRadical

1.5 million homes are usually filled with parents that can afford private schools

But they don't like the logistics of having to drop and pick kids everyday.

[NewbieHere]

Originally Posted by phantompilot

I don't think that's necessarily true in the Bay Area. Because after that huge mortgage payment, then you need an amount equal to a small mortgage payment for tuition.

My take is that a lot of people who buy into the 1.5M+ tiny tract homes areas, do it specifically because they won't have to consider private schools, because that area offers a top school district.

For instance..if you can shave 20-25K a year off your mortgage payment by spending 1.0M in San Jose, instead of 1.5M in Sunnyvale, or maybe Cupertino if you're lucky, then you can send your kid to Harker. But if you have to spend 1.2M, then you can only afford Mitty. And if you have to spend 1.3M, then you can only afford Bellarmine, say.

I think a lot of people stretch to get into these properties because the alternative is a cheaper house but a big (non tax deductible) tuition payment.

Logistics is also a problem, it's not just affordability. My kid was accepted to Harker, but we thought about it and then decided that it was better for her to go locally. If you work at Facebook, the old Sun building I presume, than its madness to drive kids to Harker everyday.

[SFBayBoomer]

I do like having both a living room and a family room, but there isn't even one bedroom or den on the first floor, and only a tiny, windowless powder room on the first floor.

If you are asking for opinions, I don't care for the design at all, and if you can afford that price, I would look elsewhere. Do you absolutely insist upon a brand new house?

[Stellaluna16]

Thanks guys but we’ve made up our minds. The main pros are close commute to Palo Alto where we both work, and close proximity to family in Newark who are willing to help with our daughter and pick up and drop off her from school. Lafayette/Berkeley are at least one hour one way even in non-peak times. We just don’t want to be commuting that far. Plus, most of our family and friends live in the Peninsula/Newark area.

As for the schools, currently the elementary school is unassigned since the elementary schools are most impacted. The Fremont school district will try place kids in the nearby schools and most Fremont schools are pretty good. The proposal to send to Newark/Union City has been taken off the table. But honestly I know some people who went to Fremont/Newark/Union City schools and they went to good colleges and are doing well. Plus there are a lot of new developments and folks who are moving in are spending $1M+ so I think naturally the schools improve overtime.

As for the house itself, it fits our needs as we entertain quite a big. 4 good sized bedrooms, formal living and dining rooms, a huge kitchen with a separate nook and a big family room. Granted the yard is small but we are vegetarians/vegan and don’t BBQ but its enough for a nice fire pit. Plus there are a lot of parks and hiking trails around. Granted $1.5M may sound like a lot, but its actually not a lot when I talk to friends and co-workers who are buying in the peninsula!

I do agree it stinks really bad when you are crossing the bridge but I didn’t smell it at all close to the houses.

The other main pro is that since its new construction we are able to pick out all the finishes and colors we want including kitchen/bathroom cabinet styles and colors and countertops, flooring all throughout, fireplace mantels, etc. We don’t have to pay for someone else’s finishes and can customize how we want.

Anyway, we plan to stay for 10-15 years, pay the house off and then retire and open our own business. At that point we will have a lot of flexibility over where to live such as Walnut Creek or Danville, etc.

[ambessa]

Originally Posted by Stellaluna16

Thanks guys but we’ve made up our minds. The main pros are close commute to Palo Alto where we both work, and close proximity to family in Newark who are willing to help with our daughter and pick up and drop off her from school. Lafayette/Berkeley are at least one hour one way even in non-peak times. We just don’t want to be commuting that far. Plus, most of our family and friends live in the Peninsula/Newark area.

As for the schools, currently the elementary school is unassigned since the elementary schools are most impacted. The Fremont school district will try place kids in the nearby schools and most Fremont schools are pretty good. The proposal to send to Newark/Union City has been taken off the table. But honestly I know some people who went to Fremont/Newark/Union City schools and they went to good colleges and are doing well. Plus there are a lot of new developments and folks who are moving in are spending $1M+ so I think naturally the schools improve overtime.

As for the house itself, it fits our needs as we entertain quite a big. 4 good sized bedrooms, formal living and dining rooms, a huge kitchen with a separate nook and a big family room. Granted the yard is small but we are vegetarians/vegan and don’t BBQ but its enough for a nice fire pit. Plus there are a lot of parks and hiking trails around. Granted $1.5M may sound like a lot, but its actually not a lot when I talk to friends and co-workers who are buying in the peninsula!

I do agree it stinks really bad when you are crossing the bridge but I didn’t smell it at all close to the houses.

The other main pro is that since its new construction we are able to pick out all the finishes and colors we want including kitchen/bathroom cabinet styles and colors and countertops, flooring all throughout, fireplace mantels, etc. We don’t have to pay for someone else’s finishes and can customize how we want.

Anyway, we plan to stay for 10-15 years, pay the house off and then retire and open our own business. At that point we will have a lot of flexibility over where to live such as Walnut Creek or Danville, etc.

Congratulations Stellaluna16. Sounds like you have a great plan moving forward. I think living in the Ardenwood and Newark areas are super convenient for those of us working on the Peninsula. A lot of money is being poured into these areas accordingly to develop it. I followed similar logic as the one you outlined and bought in Newark. I've been very happy with our home, neighbors and neighborhood. Wishing you the same :-)

[jk88cal]

OP: Good for you. If it works for you, then that's all it matters.

My take. 3 most important factors in real estate are location, location, and location. Newark/Fremont is a nice area. But it is cheap-er for a reason. If you want large house , then that works for you. For general investment and "better" real estate location, for that same price gets you a smaller and older place in peninsula.

I lived in Newark, south San Jose, and peninsula. The peninsula is the worst value in terms of $/sq feet. But peninsula to me is best in location, general living, and investment.

[Stellaluna16]

Thank you ambessa! I'm glad to hear that you are happy in Newark! We have family there (close to the old Sun buildings) and we are glad to be close by!

jk88cal, I totally get what you're trying to say but we do want a large house and really do need the family's help with our daughter so it makes sense for us to be in Fremont. If our family was in the peninsula and the cost wasn't so high there, then we would consider it. However, we do hang out there frequently and its just a quick 20 minute drive to have dinner there on a Saturday night so all in all it works out for us.