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Old Yesterday, 04:07 PM
 
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Where is it?

The only subdivision I know of that fits that description is Ammersee Lakes. But a $1.2 million home there would be quite out of place. Zillow gives most of them values in the $500k range with a few outliers a bit north of that, but not that far.

Where else in Johns Creek has lakefront living with trails to the river?
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Old Yesterday, 07:50 PM
 
Location: Johns Creek area
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If you can afford it and still save for your comfortable retirement, then it may likely be worth the investment.
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Old Today, 07:12 AM
 
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Quote:
Originally Posted by Chengdu Nanhai View Post
An American family needs an income of $420k to be in the top 1%, and about $220k to be in the top 5%. A minimum of $300k household income is needed to afford a $1 million comfortably, so these $1 million houses are definitely more for the 1% than for the 5%. People tend to underestimate the huge wealth disparity in the U.S. The ones owning yachts and private planes are not the 1%, they are the 1% WITHIN the top 1%, or the .01%.



To the OP, the high-end housing market in the northern suburbs has slowed down considerably in the past 6 months, and I have seen significant price drops on some $1 million+ listings. For $1 million you should be getting 8000-10000 sqft of finished space with 3-car garage in Johns Creek. You will almost certainly find better value buying resale, if you are patient and willing to make some small compromises. We were in the market for 10 months before we closed on our home in Johns Creek last October. We are very picky as well (2-story foyer plus 2-story great room, finished basement, larger lot, large master, open floor plan with L-kitchen), but at the end we found a home that checked all the boxes at 20% below our max budget.
Sure, but you’re using the US Average. Not sure if that’s typical for the area. Nonetheless, I agree with you about there being more “value” in a resale.

I recently bought a custom-built ~15 year old resale home, around 6000 sq ft plus a large finished basement (with many amenities and built-ins) for a fair bit less than nearby new construction for 5000 sq ft with an unfinished basement. I then invested around $50K in a new roof, new appliances and new paint. My roof and appliances are higher end than new construction, and I know that the home I purchased is very well constructed, not something you can say about some of the new builds going on (some going in the $700k+ range are downright shoddy).

Also, there seems to be a trend towards way too much shiplap and barn doors, etc. in the more expensive builds. The Chip and Joanna Gaines look went out of style about a year or so ago, so you risk buying a home that in five years will look dated. Of course the same applies to a 20 year old house with brass bathroom fixtures.
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