It largely depends on where the bridge sits on your body, compared to the same measurement on your current bass. If the bridge on the Peavey sits far out across your body, like a jazz bass, you'll probably not have much of a stretch to reach first position. If it sits across the centre of your body, you might think the neck feel really long. Similarly, if your bass now has skinny strings and you move over to a 35" scale bass with thicker strings you might notice the change in tension.
But it's not really a big deal, so don't let it put you off.