Master bedroom up? (Dallas, Flower Mound, Keller: sale, real estate market, renting)

[skids929]

I know most buyers in Texas prefer it down correct? Interested to hear more on this from people who have bought and sold, lived in texas for a long time. Whats the perspective on MB up? I found this house, looks perfect, great price point, nothing wrong with it whatsoever, but master is up and it's been on the market 300 days!

Sign or the times? Or could does a MB up slow a sale down that much?

[Brookside]

Just recently purchased a home and as a result feel comfortable in confirming that MB upstairs is generally perceived as a negative in this area and could hurt resale value. The only exceptions I've seen are when a home is in great condition, fabulously priced and in a sought-after neighborhood/school district.

Baby boomers and families with older children especially do not like this type of floorplan.

There are many realtors on this board who can probably tell you exactly how much an upstairs master can devalue a property (5%, 10% etc.).

[momof2dfw]

You can search that on this forum and find plenty on the subject

Master up is a deal breaker for most people familiar w/ Dallas area real estate and for many that actually understand the positive aspects of the master down situation. That is why that house has been on the market for 300 days. To sell a master up house in the Dallas market over a certain price point you are going to have to significantly drop the asking price and the take some concessions when you DO get a buyer if you want to sell it and you can expect it to take MUCH LONGER to even get an interested buyer when it comes time to sell. Most of the buyers for these master up houses tend to come from areas that the master tends to be up and say they are not interested in a master down at all or just flat out do not understand the dynamics of local real estate.

That is about it in a nutshell.

Me, LOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOVE my master down. Moved into this house when the kids were 3 & 7 and it was never an issue of not being "near" them at night. Now that they are older it is REALLY GREAT!!!! They can have friends over and we don't have to worry about kids going in our bedroom if we are still up and downstairs eating, watching tv, etc. Kids can have slumber parties and we are downstairs and we can get some sleep. No room is above ours . You can have a door from your downstairs master directly to the backyard to the pool/hot tub, private patio, etc. I can go several days without ever having to go upstairs, LOL. When the time comes to sell I will have a larger pool of buyers as well. You could not give me a house w/ the master up.

[LQQKOUT]

When we were looking to ourchase our two story home that was one thing I would not bend on. PERIOD. When we purchased we had master down and all other BD up along with the media room (den) which was also above the garage and NOTHING was above our master. It was on the differnet side of the home all together. And we loved it. Then we moved and purchased a single story home.

[skids929]

Awesome, thanks for the affirmation here..I have just added it to my list of requirements for a home. I come from the northeast, all masters are up here, except in higher end homes maybe, even then hit or miss. Not something people put emphasis on here.

But I am not dumb enough to ignore the market dynamics of a certain real estate market, I want a marketable home and if this is a fundamental I will make sure we have it included.

thank you

[HOAPRESIDENT]

Small differences like that can be a deal killer for "used" homes. Because most suburban Dallas housing stock has been built within the last few years and brand new houses are incredibly plentiful "just up the road," a house must have the latest trends if you expect to sell it in a far flung suburb.

When the new wears off -- and that trend is no longer fashionable -- people who buy in those new neighborhoods will have a very difficult time selling their house. I bought a house in Keller right out of graduate school in a neighborhood chock full of new houses. It took me two years to sell that house during the housing boom. People could drive just a little further and get a brand new house with slightly better accoutraments for about the same price. I sold my house at a signficant loss while my friends in Dallas were seeing double digit increases in housing value.

I'll never buy a house in a neighborhood like that again. Look for a place that has a mix of old and new, good access to major roads and history of increasing its value. People don't realize how hard it is to sell used houses in "new house" areas. But most people who buy in those areas don't think about the future, they just think about now. And for now they have new. Until the builder decides to build Phase II.

[skids929]

Originally Posted by HOAPRESIDENT

Small differences like that can be a deal killer for "used" homes. Because most suburban Dallas housing stock has been built within the last few years and brand new houses are incredibly plentiful "just up the road," a house must have the latest trends if you expect to sell it in a far flung suburb.

When the new wears off -- and that trend is no longer fashionable -- people who buy in those new neighborhoods will have a very difficult time selling their house. I bought a house in Keller right out of graduate school in a neighborhood chock full of new houses. It took me two years to sell that house during the housing boom. People could drive just a little further and get a brand new house with slightly better accoutraments for about the same price. I sold my house at a signficant loss while my friends in Dallas were seeing double digit increases in housing value.

I'll never buy a house in a neighborhood like that again. Look for a place that has a mix of old and new, good access to major roads and history of increasing its value. People don't realize how hard it is to sell used houses in "new house" areas. But most people who buy in those areas don't think about the future, they just think about now. And for now they have new. Until the builder decides to build Phase II.

Thanks HOAP-We're fairly locked in on Flower Mound. I know everyone has opinions on that location, but we like it alot and would like to raise our family there. I still want to maximize my chances to resell later though. FM has moved to 2 acre zoning to slow things down, of course that can alway that can always be changed, but the current trajectory is to maintain what they have and grow slower, with more emphasis on infrastructure, schools and commercial.

[TurtleCreek80]

In newer developments - and most suburbs- master down is preferred. Probably worth 10-15% of home value, I'd guess.

In older areas (ie, in-town neighborhoods like North Dallas, Lakewood, Park Cities, etc), master up is very common due to age of homes and the higher likelyhood home has both formal living & dining room, as well as family room on 1st floor. In new construction in these areas, it's mixed- some up, some down. Probably a nod to master down as being preferred. In these areas it's neither an asset or a detriment to home's value as there isn't a "consensus" opinion on the matter.

[HOAPRESIDENT]

Originally Posted by skids929

Thanks HOAP-We're fairly locked in on Flower Mound. I know everyone has opinions on that location, but we like it alot and would like to raise our family there. I still want to maximize my chances to resell later though. FM has moved to 2 acre zoning to slow things down, of course that can alway that can always be changed, but the current trajectory is to maintain what they have and grow slower, with more emphasis on infrastructure, schools and commercial.

I am glad you are thinking about resale. I've often heard people in the suburbs scoff at thinking about resale. In fact, I was one of those people once.

If I own a home for 3 years, which seems to be the average in Dallas/Ft Worth suburbs, and I have to put in $30,000 in repairs, which I did, then paid $15,000 in taxes, I've got to make a $45,000 appreciation in value just to break even. That doesn't even take into account the 6% for the real estate agent. In the suburbs, on new houses, you would be one in 6 million to make that sort of appreciation in 3 years. It just doesn't happen. You'd be better off renting in the suburbs than buying.

But follow your bliss!

[getmeoutofhere]

I live in a new development area, and master up is very common.

Personal preference.