Better Investment: Mckinney or Frisco (Dallas, Plano: short sale, foreclosure, homes)

[Jazzy_2010]

Hi Everyone,

I'm thinking of doing a new construction build in either Frisco or Mckinney. I'm thinking of maybe somewhere off of Custer/121 in Frisco or off of Mallard Lakes in Mckinney. Which area do you think would be the better investment?

[BigDGeek]

In terms of appreciation...neither.

[txgolfer130]

I'm a little biased, but think McKinney is a better investment. The new Bonnie Wenk park/pavillion area will be down the road and the indoor/outdoor aquatic/fitness center (pending final financing) will just to the North of you off of Hardin & White.

The lots are bigger in the Mallard Lakes area as well.

http://www.mckinneytexas.org/uploadedFiles/Cultural_and_Recreational_Services/Parks_and_Recreation/McKinney_Parks/Bonnie%20Wenk%20Phase%201.pdf (broken link)

[MckinneyOwnr]

You are being rather specific in location for McKinney, but just saying "Frisco" is rather vague. On average, McKinney lots are larger than Frisco, but that doesn't hold true for all neighborhoods. I live near Mallard Lakes myself, and it's a very nice area.

However, I wouldn't count on either location as being an investment. Homes in the suburbs (whether it's Plano, Richardson, Frisco, Mckinney, etc...) simply don't appreciate much in value. Or at least, historically they haven't.

In the DMN a week or two ago there was an article about the metroplex and which areas were the hottest areas to buy, McKinney homes were selling at a >26% rate vs last year, which was the highest rate of growth for any suburb in all of DFW.

But if you really want to get some bang for your buck and some instant equity, you'll have a better shot by buying a foreclosure or preowned than by building new.

I will say this, my home has gone up by over 20k in the tax records over the last two years, while my friend's home in Frisco has stayed constant. Take that with a grain of salt though, because there's a lot of factors there that don't necessarily hold true for all of McKinney/Frisco.

[Double-G]

McK is right - homes in the burbs are not an investment so go with your gut.

Personally I like McKinney has far more charm than Frisco but YMMV.

[DitsyD]

Frisco has better shopping.

[compSciGuy]

Originally Posted by txgolfer130

I'm a little biased, but think McKinney is a better investment. The new Bonnie Wenk park/pavillion area will be down the road and the indoor/outdoor aquatic/fitness center (pending final financing) will just to the North of you off of Hardin & White.

The lots are bigger in the Mallard Lakes area as well.

http://www.mckinneytexas.org/uploadedFiles/Cultural_and_Recreational_Services/Parks_and_Recreation/McKinney_Parks/Bonnie%20Wenk%20Phase%201.pdf (broken link)

What about the 'potential' Arts of Collin County facility near 121/Custer?

[Lakewooder]

If you are doing a new build and you want to make money you should probably do it in a high-demand in town location such as North Dallas, Park Cities or Lakewood. Frisco and McKinney are far outside of town and you would be competing with corporate builders and their mass production, market research, economies of scale and preferred financing.

[skids929]

Frisco stinks, overall small lots, zero charm. Mallard Lakes on the other hand COMPLETE opposite when it comes to lot sizes and overall beauty of the area. I have to be honest, and take it for what it's worth from a window shopper from the Northeast..Out of just about ALL the areas I have seen in the DFW suburbs Mallard Lakes area was one of the most memorable for me. I loved the rolling hills, the larger lots, proximity to highways, and general feel of the area. South of Virginia too, which is the preferred area in Mckinney, so values should hold a little better. Overall I LOVED IT.

I wouldn't even consider Frisco because it has shopping (which makes it more congested) unless the (very small) differences in schools were concern. My biggest contention with that area is that it's in Mckinney, which is far out overall from my family members, and only about 30% built out, which is why you might not see appreciation-in your lifetime. But if you are considering Frisco, who cares, both are same longitude/latitude. I choose Mckinney all day long when it comes to emotional reasons to buy a home, that area was very nice and worked for us with the exception of no Catholic schools close-by, and a little bit of a ride to see family in Southlake.

It's really a nice area though overall, which is why it's grown so much. But the points people here make about appreciation in the suburbs are in fact a sad reality you have to come to grips with before you make your final decision.

[mikeh19468]

First response had it right. If you're looking at this as an investment, neither, and I don't know that I'd be investing in housing regardless, unless you get a really good deal on a foreclosure or short sale, and even then, return is not going to be quick.

If you're asking which is the better place to live, the answer is, it depends. Where's work, do you have kids of school age, what are the things you consider important in housing and neighborhoods, and most importantly, how long are you planning on staying. Either could be preferred depending on those answers, or there could be yet another, better option...