|My landscaper planted two|
Teddy Bear magnonia has a moderate growth rate reaching 16 to 20 ft. tall, and 10 to 12 ft. wide. I think 5 feet is too close based on their branchspread. The roots may or may not be a problem in time, but I would consider a distance of about 10 feet from the home better as it allows more full development of the plant with no concern for the eaves. It also allows more room to minimize any concern for a home foundation.
Thanks for the question. Please stop in again soon!