New Homes Co. is building 10 homes in Rancho Mission Viejo. They’re priced at $359,818 and are a snug 700 square feet. Seen here is the compact living room. (Jonathan Lansner, Southern California News Group)

New Homes Co. is building 10 homes in Rancho Mission Viejo. They’re priced at $359,818 and are a snug 700 square feet. The home features just one bedroom. (Jonathan Lansner, Southern California News Group)

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New Homes Co. is building 10 homes in Rancho Mission Viejo. They’re priced at $359,818 and are a snug 700 square feet. Seen here is the kitchen, which is brand new but stocked with more budget-friendly appliances. (Jonathan Lansner, Southern California News Group)

New Homes Co. is building 10 homes in Rancho Mission Viejo. They’re priced at $359,818 and are a snug 700 square feet. The small dining area is notched into the kitchen. (Jonathan Lansner, Southern California News Group)

New Homes Co. is building 10 homes in Rancho Mission Viejo. They’re priced at $359,818 and are a snug 700 square feet. A small outdoor patio makes up for some of the snug features inside the small home. (Jonathan Lansner, Southern California News Group)



New Homes Co. is building 10 homes in Rancho Mission Viejo. They’re priced at $359,818 and are a snug 700 square feet. Seen here is the entrance, which is actually at the back of the units, one of less attractive features of the complex.(Jonathan Lansner, Southern California News Group)

The New Home Co. is building $350,000, 700-square-foot units in Rancho Mission Viejo. (Sketch, courtesy of New Home Co.)

New Home Co., one of the region’s top luxury homebuilders, will offer townhomes priced around $350,000, in Rancho Mission Viejo. The one-bedroom, 700-square-foot units are interspersed with larger units in the 80-unit complex. (Photo by Ana Venegas, Orange County Register/SCNG)

Azure will offer 10 townhomes priced around $350,000. (Photo by Ana Venegas, Orange County Register/SCNG)

So what does $359,818 worth of newly constructed housing in Orange County look like?

New Homes Co. is selling what will be 10 units starting at that price in a townhome complex in Rancho Mission Viejo. It’s an eye-catching price for new housing in a master-planned community — hopefully, the beginning of more affordable options countywide for house hunters.

Of course, at this pricing, I hope buyers realize they will be making concessions — from the size of the housing to the level of appliances, trim, etc.

“Reaction from prospective buyers has been strong,” said Joan Marcus-Colvin, New Home Co.’s chief marketing officer. “Public is clearly interested to understand what they can purchase for $359,000. We’re seeing almost an even split between young families and couples without children.”

Here are my impressions of what’s dubbed “Azure At Esencia, Plan 1” …

It’s small

Look, no matter the design, 707 square feet is not a lot of space.

To me, it’s living quarters for, at most, a couple looking to start their homeownership habit. And that’s the reality for folks with a tight budget looking for new construction in a high-profile South County community that has no “low-income” qualifications. If a house hunter wants more home, they’ll likely have to look at much older properties, most often in mid-county neighborhoods.

It’s functional

The design is smart, so it’s a comfortable space.

The entry and garage are on the ground level. Steps take you to the second floor into the main living area where the kitchen area — stocked with basic appliances — flows into the family area. A small porch deck off the family area offers a place for fresh air. Bedroom and bath are logically arranged, though the stacked washer-dryer set in the master bathroom space is a tad odd. And a decent number of windows should keep the space bright.

But, if two are living here … you better like each other!

Nice amenities

Most major new Orange County communities are often a trade of living space — both inside and yards — for enticing community facilities.

Rancho Mission Viejo doesn’t disappoint on this count with numerous public recreation facilities, including pools, gyms and trails available to all residents. Not to mention brand-new schools.

Of course, there’s a cost. Property tax rates run in the 2 percent ballpark, and the monthly homeowners association fees run from $333 up to $420, depending on the home.

Zero curb appeal

The walk-up has an awkward feel.

The builder carved this living space out of the middle of a townhome row. That means its entrance is to the rear, by your neighbors’ garages. Yes, reality is that many Orange Countians enter their homes through the garage, so a front door might just be more for show.

But this rear entry is an abrupt departure from Orange County norms but a necessary compromise to get the low price.

Curious option

If you’ve got nearly $1 million, you can buy this unit and an adjoining 1,619-square-foot townhome … and link the two at the top of their respective stairwells!

Yes, you can have a true two-family home with separate entrances, kitchens and parking! (Oh, and two HOA payments, by the way.) This is inline with New Home Co.’s reputation as an innovator in multi-generational living arrangements.

“The idea is to offer a flexible solution to today’s family living situations,” Marcus-Colvin says.

Final thought

To those folks with limited funds and modest, realistic dreams of ownership, New Home Co.’s 707-square-feet condos could be a good starter home.

To the hopes of broader availability of more affordable ownership options, brisk sales of these Azure homes could send a strong message to developers that the market’s lower end is worth their time.