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Old 04-09-2013, 09:48 AM
 
27,535 posts, read 44,999,258 times
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IF you feel you can afford that level of house and will be in the area for while then other people's opinions might not be the best way to make a judgement

location is very important according to how it works for you--
other people might think that area is too far north or you could buy in Southlake for same price and (maybe) have better ISD...but you know what works for you

Highland is a tract developer at all levels of pricing--
if you liked that house plan, I guarantee you can have it built on another lot by Highland
they say custom but basically that means you have "options" to upgrade the features...

and the RE market in DFW is going gangbusters right now with less than 6 mo of supply--
that means many people will be in panic mode to lock up a house they want and not risk losing it
bidding wars in some neighborhoods are happening and while prices might not be as high as they were in 07 before the market dumped--they might be higher in some areas because of scarcity...

Just remember you need to make a purchase YOU are comfortable with--
and if there is another depressed cycle in couple of years and resale on homes is depressed can you take losing some money if you have to sell???
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Old 04-09-2013, 09:58 AM
 
172 posts, read 288,977 times
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These prices are high because inventory is low. Frisco had most foreclosures in DFW and investors hold a huge number of properties, there is lot of land available in Frisco and beyond. I wouldn't feel comfortable buying there even if I didn't have to commute to Dallas or send kids to an established and high performing school stream. YMMV.
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Old 04-09-2013, 11:48 AM
 
89 posts, read 111,907 times
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Highland is best in its class. Their sister company Huntington does custom homes. Both are very reputable builders. In this market, buying pre existing at desirable locations with stellar schools is the wise thing to do but individual cases may vary.
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Old 04-15-2013, 02:12 PM
 
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Looks like Richwoods is the happening subdivision, now they are opening phase 15 in Richwoods place and meadows..... When we drove around, the elevations look beautiful...
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Old 04-15-2013, 04:14 PM
 
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It's all happening. If its new then no matter if its Frisco, Little Elm or boonies. People are buying, God know what will happen once new house smell fades.
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Old 04-16-2013, 02:52 PM
 
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Is all the glitz worth the price???
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Old 04-16-2013, 03:02 PM
 
Location: Frisco, TX
1,075 posts, read 1,160,193 times
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Quote:
Originally Posted by aashnirk View Post
Is all the glitz worth the price???
How long are you planning on staying? If you try to sell within the next few years, you will lose money. Just think about it, you are looking in an area that had a lot of homes built between now and 2000, especially if you look in NW Frisco. Yet you are looking at new builds despite the number of existing homes that are either still fairly new, or a lot cheaper than the new builds you are looking at in case they do need upgrades. Highland and Darling have built many homes in Frisco, not just in these new neighborhoods.

If someone else comes into this area in 2 or 3 years when your house is on the market, what makes you think they will want to buy your home when there are still new homes to be bought in Richwoods? Hence the part about you losing money if you try to sell in a few years. Because I'm guessing it will take a long time to finish building this neighborhood out. There seems to be a "build new" mentality for people who are moving here from out of state, which is clearly reflected in the high prices.

There are many nice neighborhoods that are already established where you can get more bang for your buck. And their HOA dues won't be as outrageous either.
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Old 04-16-2013, 06:26 PM
 
Location: Funky town
951 posts, read 1,420,437 times
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^^^ just like stephwin mentioned if you are selling in the next few years then it may not be wise on your part. However, few things that I would actually disagree with stephwin would be on (1) if you are "planning" to sell house in next 3 years then you should not buy anywhere not just frisco (2) house price quoted by builders are climbing up every other month so even 3 years down someone will pay lot more in new built than what you paid today (Big Assumption: Sales continue this way and a large chunk of people moving from out-of-state continue to pick Frisco. It is a big assumption and may be it will go that way but time can only tell).

First and foremost, investment and future appreciation should not be first consideration. it should be where you call home. Some people like big mature trees and certain character that only a built-out pre-owned community can provide. Some people like to define the character of the neighborhood and bond with people in new construction community. Other things people have priority on would be commute, schools, shopping, etc. What is your priority order and that should define the city you want to be at. Then you can decide whether you want new construction or pre-owned. Also, I think Plano and Frisco (east of DNT) should have better soil composition for preventing longer-term foundation issues but I am no expert.
Just my 2 cents.
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Old 04-25-2013, 09:53 AM
 
69 posts, read 96,655 times
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Quote:
Originally Posted by frenzyrider View Post
I dont think one can get 10-15% discount from semi-custom builders in that area today. It might have been the case in 2009.
Sorry for the delay in my response...I bought my house in late 2011 interest was around 4 percent...

So I really don't think that is the case these specs are usually overpriced and most were built by someone who didn't close on the house and some of those options were paid for which means there should be done discounts available and a lot cheaper than building it.
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Old 04-25-2013, 11:20 AM
 
Location: Funky town
951 posts, read 1,420,437 times
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Quote:
Originally Posted by princealyy View Post
Sorry for the delay in my response...I bought my house in late 2011 interest was around 4 percent...

So I really don't think that is the case these specs are usually overpriced and most were built by someone who didn't close on the house and some of those options were paid for which means there should be done discounts available and a lot cheaper than building it.
2013 is quite a different market. If you don't agree then just ask around realtors and other folks looking for pre-owned. There is almost no inventory and the cost of materials / labor (shortage is big news on TV) has caused builders to give no incentives so I think you may be able to get 5-7% from top builders. I am not talking about lower-end Lennar, Grand or First Texas homes (they will throw in a lot more). I agree Richwoods is way to hyped and over-priced

Also on your earlier comment, I would like to disagree that there is lot of vacant land around there. It is not really the case for "residential" purposes. When you take a look at Frisco GIS, you will notice a lot is built out and ones that you say are vacant have been zoned for "commercial" or "mixed use"
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