Need opinions- University Park vs. Highland Park (Princeton, Howe: city hall, houses)

[GreyDay]

The search continues for a home for my family, including a 3 year old daughter.

Latest finds- Great home on Stanford in UP and UP elementary school. House is ready to move in, nice pool and no major issues. Streets are a bit narrower than I'd like and it's a bit farther north but those aren't massive dealbreakers. It does however have the all important media room and 3rd floor office.

Next home is off Potomac, near Mockingbird in HP. It's Armstrong elementary which has a supposedly more active parents association and is marginally better (real vs. imagined?) Price is comparable between the two. But the pool is goofily off to the side, ceilings are shorter about 9 ft. vs. 10-11ft. And it needs a renovation to the tune of 100-200k. No pressure to move quickly.

My realtor thinks the Armstrong school district and area are great but isn't a good guide on whether or not it'd be a good investment in the long term?

So move-in ready in UP with UP elementary vs. Needing renovations, but in Armstrong with a potentially higher appreciation in the future?

[Big G]

I don't know jack squat about specific streets in UP/HP, but I do know this:

Just buy what YOU want, not what some realtor thinks will possibly be more valuable and/or desirable years down the road. It's not as if you're looking at two houses, with one next to the country club and the other next to the county dump. I'm sure these are both fine houses in desirable locations. Is there really going to be that much of an appreciation difference? Who can tell?

It sounds as if you like the UP house better. Why live for years with things that will stick in your craw (pool location and low ceilings) in the hope of maybe getting a bigger payout when you sell in 10-20 years? With your incomes, you can afford to buy whatever the h*ll you want, rather than settling for less enjoyment in order to get more $$$$.

[nsumner]

Originally Posted by ganongrey

The search continues for a home for my family, including a 3 year old daughter.

Latest finds- Great home on Stanford in UP and UP elementary school. House is ready to move in, nice pool and no major issues. Streets are a bit narrower than I'd like and it's a bit farther north but those aren't massive dealbreakers. It does however have the all important media room and 3rd floor office.

I showed this home about a week ago. Very nice home but we felt that it was really overpriced for the lot size. The backyard is all pool. We think that it might be the reason that didn't sell in 3 years, the other factor that it didn't have any bedrooms on the first floor for a home that size was a downside for my clients too.

I don't think that the width of the street really matters, it's not a thoroughfare so you'll have only neighborhood traffic. Caruth Hills is a very nice neighborhood.

Naima

[ClarenceBodiker]

Originally Posted by Big G

I don't know jack squat about specific streets in UP/HP, but I do know this:

Just buy what YOU want, not what some realtor thinks will possibly be more valuable and/or desirable years down the road. It's not as if you're looking at two houses, with one next to the country club and the other next to the county dump. I'm sure these are both fine houses in desirable locations. Is there really going to be that much of an appreciation difference? Who can tell?

It sounds as if you like the UP house better. Why live for years with things that will stick in your craw (pool location and low ceilings) in the hope of maybe getting a bigger payout when you sell in 10-20 years? With your incomes, you can afford to buy whatever the h*ll you want, rather than settling for less enjoyment in order to get more $$$$.

This is good advice.

Buy what you think you're going to like living in the most, first and foremost. Besides, it's Park Cities. Everything will appreciate in value.

[mami2emily]

You know I don't live in the area just yet But from what I have read and discussed with our realtor it seems you cannot go wrong with any of the elementary schools in HPISD. Parental involvement is extremely strong throughout the schools, apparently all the way through middle school. She also told us that a home within very easy distance to any of the elementary schools would be a very wise investment, since at that age kids walk/ride bikes to school.

Also she has explained to us the benefits of staying east of Preston and west of Hillcrest, no matter if it's UP or HP, for resale purposes. We have noticed that a lot of the homes close to the tollway or 75 seem to linger a bit longer in the market.

We are only looking at 70' lots, but if a 50' catches your eye, our realtor suggested making sure it has a circular driveway. That helps ease congestion (especially from visitors) on some of the narrower streets.

I thought you were set on the home in Volk Estates? Continued good luck on your search!

[jennifw]

I think you are splitting hairs at this point. Buy the one that you like and makes more sense for your family.

Good luck.

[GreyDay]

The Volks Estate while a good size, seems like too big a project for us. The place on Stanford has more usable space and the all-important 3rd level Media Room/Office/Gym area. Don't want out ambition to overcome ability in renovations.

Both homes are w/in 4-6 blocks of their elementary schools, so that's a wash.

[hamiltonpl]

I was reared in the Park Cities. To a lifetime resident, there are absolutely no differences between the schools or the appreciation in value in HP or UP. You're not splitting hairs. Instead, you're splitting the hair of a hair. It is a useless and wasteful endeavor.

When I went to Highland Park High School I had people (from outside the neighborhood) ask me if I looked down on people who went to University Park. I told them yes. University Park is an elementary school so the students are shorter.

Highland Park High School is in fact in UNIVERSITY PARK. So is the Highland Park Administration Building. So are most churches that call themselves "Highland Park." In fact, Highland Park Presbyterian is literally across the street from University Park City Hall -- in University Park. The two "cities" are treated as the same place. UP Police & Fire will respond to calls in HP if they are closer than HP Police. HP Police and Fire will do the same in University Park. Because the homes appreciate in value due to the school district, which is the same in UP and HP, the homes will appreciate in value at the same rate. The police and fire even function as one unit in many circumstances. Ironically, it is the people from outside the Park Cities who think that there is a big difference in HP vs. UP. There is not.

Buy the house you like more. They are both the same investment because they are both in the same HPISD school district. Armstrong Elementary does not have a stronger PTA than UP schools like Hyer or UP. That is proof that your Realtor is in fact an outsider. The elementary schools are almost identical in every respect. Bradfield Elementary and University Park Elementary are literally identical architectural and floor plan carbon copies of one another. Your child will receive the same education and the parental involvement will be very heavy.

You are right that Stanford -- and most other UP streets -- are narrower than HP streets. It feels more congested now because the alley on Stanford is being repaved and everyone has to park on the street. However, Potomac is the street just north of Mockingbird, which is more congested than anything you'll ever find on Stanford. Residents in both HP and UP park on the street all the time, which will make it feel like you're "threading the needle." You heard good advice from mami2emily about getting a house with a circular drive and staying between Hillcrest and Preston. It sounds like you need her Realtor.

Personally, I would buy the home with less work on Stanford.

[TurtleCreek80]

"Splitting hairs" was exactly the phrase I thought of while reading this post.

Both homes are in great locations- in the "golden corridor" mami2emily referenced, which is between Hillcrest & Preston.

The difference between the 4 elementary schools is akin to the difference between Harvard, Yale, Stanford, and Princeton- a few people will make a big deal out of "ranking" the schools, but in reality they are the best of the very best and the differences in curicculum, teachers, principals, facilities, and parental support are negligible.

Buy the house you like the best. Being in the "golden corridor" is going to bring a $/SF premium, being walking distance from an elementary school will bring a $/SF premium. Any difference in appreciation potential will come from the individual home (lot size, trees & landscaping, square footage, floorplan, and amentities/finish out).

[aeh]

I echo all sentiments above. This is all exactly right.

However, Naima, most homes in UP/HP have their masters on the second floor. It is very common.