That’s an exceptionally beautiful house and property.
We know a few families who live/lived in the area, and they’ve all said positive things about their neighborhood, but there are a few issues that may or may not bother you:
1. The area and property are a bit secluded. With kids, it might be nice to live in a somewhat denser neighborhood with sidewalks and other kids nearby. Is there a safe place for them to ride bikes, etc.? Some people admittedly don’t mind this, though, and just drive to other friends’ houses.
2. While the property might be entitled to “agricultural” water rates now, it could certainly change in the future. With that much land, you’ll be paying a whole heck of a lot unless you change the landscape to a more drought tolerant style.
3. Fire hazard. You probably already know this, but fire insurance might be extremely expensive/difficult to get. That area is very vulnerable to wildfires, so it might be something to take into consideration.
4. As others have mentioned, the current owners paid much less in 2003 than their current asking price. The 2003-2004 period was very bubbly there (we’ve considered that area as well, and remember the manic market in 2003/2004). Most of the homes in 92025 seem to be priced around or below their 2003 price. Not sure if you want to pay the current owners a premium like that, especially since you’ve been watching this bubble since the early days.
On the plus side, the guest house is a fantastic asset, as you can use it for extra income, and later for parents or in-laws…or kids, if that ever becomes necessary. It sounds like the house can work pretty well with three bedrooms upstairs for you, and one for each kid. The two rooms downstairs can be used for a guest room and office or???
Have you seen it already? What were your thoughts?
