1 / 24

The Vision

The Vision. A Fenced private estate of 1 to 3 acres in the bay-area 5 homes placed in it, as we wish. Where all our kids live, play and grow together Our own club-house, pool, park, etc. Instead of looking for purchasing a home for $800,000 and

lisbet
Download Presentation

The Vision

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. The Vision • A Fenced private estate of 1 to 3 acres in the bay-area • 5 homes placed in it, as we wish. • Where all our kids live, play and grow together • Our own club-house, pool, park, etc.

  2. Instead of looking for purchasing a home for $800,000 and living amidst people we neither know nor really care about; Can we build our own community (lets say, The Village)?

  3. The Facts – how much it costs? • A piece of land of at-least 1 acre (43,560 sq. Ft). A quick browsing reveals • 3 Acre land on Los Altos foothills costs $1.2 million. • 1.5 Acre land in Portola valley for a million • If we go around Alum rock, we can find an acre for $400,000 • Example: 3.21 acres - Eastbrook-Ave-Los-Altos-Hills-CA-94022 • How much does it cost to build a home? • Around $100 per sq. feet – depending on the timber we select. • I hope a 2500 – 3000 sq. ft. home is handful . • With all the upgrades, fancy things – it costs $300,000 per home to build. • So a Total of 2.7 million (1.2 for land + 1.5 million for 5 custom homes) – that is $540,000 per family. • Do you thing $540,000 is worth a custom built home on a private estate and all the friends living together? • If we choose to set-up our community in a different place like Alum rock, Mission Peak, the land cost much lesser.

  4. Complications • Obviously, there are complications involved. Starting from finding the land, govt. approval, Legal documentations, Mortgage, Finding a builder, settling on a home design, extra-things the builder bringing up during construction, like a custom tile-work, weather-proof roof, etc… etc. • Lets try dealing with these one by one; • Finding the land – with internet (example zillow.com) it should be quite easier to finding the land, since most of live around, we can even go look at them on any given weekend. • Govt. Approval – On a High-level, there are two major variables involved in buying a land. • MDA(Max Development Area) - includes pavements, roads, pool, tennis courts, club house, etc. • MFA (Max Floor Area) -> house wall-to-wall including car ports, garages, etc. • The 3.21 acre land referenced in previous slide already has MDA 33,395 sq. ft. and MFA 15,313 sq. ft. (easily accommodates 5 homes, each 3000 sq. ft.) approved. So the seller already establishes these details. • - Contd.

  5. Complications • Legal Consultant – The Legal consultancy and documentation is free for the Microsoft employees, so don’t worry about it.  • Mortgage – We all pay our bills right, and our credit-scores should be above 750. There shouldn’t be any problem in getting the best rates. Its all in the personal commitment, now. • The whole presentation applies for only those who have no second thoughts about settling in the bay area. If you are still , skeptical on settling here or moving back to India in near future. Please take a rain-check. • Finding a Builder – This is a major task. I hope we can use some reference from our civil engineer friend Krishnan. • Home plan – in the forth-coming slides. Courtesy - http://www.homeplans.com/ • ETC – Read through some guidance on joint mortgages, buying homes together, etc. guide-to-buying-property-with-friends • Once we have decided the land and home plans, we can fix some rigid boundaries and set the ownership of a particular piece of land and home tied to the corresponding family and we can co-won the remaining pieces of land and common areas.

  6. Pros – What do we get back for going through all these hassles? • It takes a village to raise a kid. Obviously all of us miss our own villages and our kids are growing in solitude. so it’s a good chance to create our own village. • Togetherness : • All our top priorities, our kids, always have friends around, play together, learn together, fighting with each other, but are forced to patch-up and their friendship strengthens even more. • All of us get to choose 5 different food every-day!  • Play tennis, poker, swim – all together. • Festivals would look like real festivals. • Our parents would have company when they visit us. • No need for hunting day-cares for every single errand we run. • Screen movies in our backyard. • Suddenly, there is a profound sense of security. • Cost : I would be ready to pay a little more to live along with my friends. But here, it actually costs less. The estimate is around $500,000. • -Contd.

  7. Pros – What do we get back for going through all these hassles? Home-ownership : I hope all of us are thinking about owning a home, but really reluctant to spend a million dollars on it or not ready to settle for a mediocre home, even that costs $600,000. Return-on-investment: Obviously, some of our so-cal friends would be moving up north, and they’ll be in our state in near future and would be glad to be part of our village. We can either build a set of condominiums and sell it to them or just sell the land and let them build their home. Either-ways, we get the rebate. Choosing our neighbors: We don’t have to put up with the strangers, no more keep our music volume low and we can cook anything we like. I hope we won’t be calling cops on each other!  Sharing: Suddenly, there are more cars at our disposal. We don’t need to take a day off for a pediatrician visit. There is also Car-pools. The Legend:Might sound trivial, Even after we die, we live as the founders of this village. 

  8. Cons – Disadvantages? Privacy : Well, being to-gether, we tend to get a little nosy at time, but, it won’t be as bad as it is in India.  We can constantly work on balancing the privacy and togetherness. Mow the Lawn: We’ll have to maintain the lawn grass or even a forest (if we buy a 3-6 acres of land (130,000 sq.ft). At least we’ll have each-other to help. Lot of Drinking: There is going to be too many reasons to celebrate and there will be a lot of drinking going on. I don’t have a solution for it.  Mortgage & Rent: Once we obtain the mortgage, for a good 3-6 month period, we would have to pay both mortgage and rent. Got to figure a way to work around it. Competitive Env: It is going to be a very competitive environment for the kids.

  9. Home Plans – 1 (6-plex) • This is a simple model with 6 identical townhome • Pros: • 1700 sq.ft each. • Costs much less to build – around 700,000 total. • i.e., $115,000 per family + land. • Cons: • Townhome like. Just two bedrooms.

  10. Home Plans – 2 (Duplex) • Duplex – two family can share the cost – costs almost the same as building a single home. • It costs around $200,000 per family.

  11. Home Plans – 3 (Huge 4-BR home) – 3000 sq. ft.

  12. Home Plans – 3 (Huge 4-BR home) – Contd.

  13. Home Plans – 4 (Beautiful Windows – 3BR) – 2700 sq.ft.

  14. Home Plans – 4 (Beautiful Windows – 3BR) – Contd.

  15. Home Plans – 4 (3BR family Home) – 2600 sq.ft.

  16. Home Plans – 4 (3BR family Home) – Contd.

  17. Home Plans – 4 (3BR/4BR Contemporary) – 3000/4600 sq.ft.

  18. Home Plans – 4 (3BR/4BR Contemporary) – Contd.

  19. Home Plans – 4 (3BR/4BR Contemporary) – Contd. ( basement)

  20. Home Plans – 4 (3BR/4BR Contemporary) – Contd.

  21. Home Plans – 4 (3BR/4BR Contemporary) – Contd.

  22. Home Plans – 4 (3BR/4BR Contemporary) – Contd.

  23. Home Plans – 4 (3BR/4BR Contemporary) – Contd.

  24. Home Plans – There are plenty of amzing home plans • http://www.homeplans.com/plan-detail/HOMEPW02349/modern-beauty • http://www.homeplans.com/plan-detail/HOMEPW75587/country-home • http://www.homeplans.com/plan-detail/HOMEPW10803/beautiful-windows • http://www.homeplans.com/plan-detail/HOMEPW03117/flexible-luxury • http://www.homeplans.com/plan-detail/HOMEPW75321/huge-and-unique-master-suite <<< Rest in Person >>>

More Related