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Old 08-10-2013, 09:18 AM
 
6 posts, read 6,766 times
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Hi everyone,

Need your opinion on a home that I am interested in Plano near to all the exemplary schools. Around 3600 Sqft. I am bit concerned about the resale aspect of it. The house is pretty good. The only issue I see is the backyard which is relatively smaller than other homes in Plano. It is around 17x19 approximately and I was wondering if this is an issue when it comes to resale. In addition, the seating area is on the side that leads to the yard in the back. Any help is appreciated. Thanks.
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Old 08-11-2013, 09:03 AM
 
Location: Plano, TX
487 posts, read 1,221,462 times
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Quote:
Originally Posted by thesaint580 View Post
Hi everyone,

Need your opinion on a home that I am interested in Plano near to all the exemplary schools. Around 3600 Sqft. I am bit concerned about the resale aspect of it. The house is pretty good. The only issue I see is the backyard which is relatively smaller than other homes in Plano. It is around 17x19 approximately and I was wondering if this is an issue when it comes to resale. In addition, the seating area is on the side that leads to the yard in the back. Any help is appreciated. Thanks.

Compared to other homes in the neighborhood is the lot size average?
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Old 08-11-2013, 10:17 AM
 
Location: Dallas, TX
1,161 posts, read 738,686 times
Reputation: 248
Quote:
Originally Posted by thesaint580 View Post
Hi everyone,

Need your opinion on a home that I am interested in Plano near to all the exemplary schools. Around 3600 Sqft. I am bit concerned about the resale aspect of it. The house is pretty good. The only issue I see is the backyard which is relatively smaller than other homes in Plano. It is around 17x19 approximately and I was wondering if this is an issue when it comes to resale. In addition, the seating area is on the side that leads to the yard in the back. Any help is appreciated. Thanks.
It is all relative. Are you sure about 17X19 size? 3600 st ft home needs at least 55' lot. That should give you 55' x 19' size backyard. 55' lots are very common in desired locations with good isd.

Last edited by ritholtz; 08-11-2013 at 10:32 AM..
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Old 08-11-2013, 11:58 AM
 
1,787 posts, read 1,883,725 times
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Quote:
Originally Posted by ritholtz View Post
It is all relative. Are you sure about 17X19 size? 3600 st ft home needs at least 55' lot. That should give you 55' x 19' size backyard. 55' lots are very common in desired locations with good isd.
I thought the it meant backyard dimensions are 17x19.(?)
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Old 08-11-2013, 03:31 PM
 
Location: Prosper
6,268 posts, read 12,105,445 times
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Quote:
Originally Posted by ritholtz View Post
It is all relative. Are you sure about 17X19 size? 3600 st ft home needs at least 55' lot. That should give you 55' x 19' size backyard. 55' lots are very common in desired locations with good isd.

Not necessarily. He may have an alley and a three car garage, so he loses a lot of backyard because of it.

We have a 55' lot and an alley way with a 2 car tandem garage. The length of our backyard fence is about 30 feet, by 20 feet, not including the fenced side yard. So we lost 20 feet for the width of the driveway, and another 5 ft is the grass on the other side of the house.
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Old 08-11-2013, 10:16 PM
 
6 posts, read 6,766 times
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Thanks all. The dimensions are approximately 17 by 19 feet (plus a feet or more). The lot is around 6200 Sqft. I am guessing in the same area, the lot is around 7500-8000 Sqft. However, I did notice that all the homes in the same street have nearly the same lot. Also, it only has a 2 car garage.
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Old 08-12-2013, 08:02 AM
 
Location: garland
1,595 posts, read 1,570,247 times
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The only thing that matters is if YOU will be happy with a small yard. Have your agent pull the comps and make sure to check the deduction on the home valuation for the smaller lot size. As for anticipating resale at some unknown point in the future, one can only guess. There's a buyer out there for everything so you may just have some family come by opening weekend that absolutely hates the outdoors and lawn maintenance and thinks the yard is perfect.
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Old 08-12-2013, 08:20 AM
 
Location: Grapevine, Texas
9,505 posts, read 19,511,098 times
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If all of the other homes in the neighborhood have similar-sized lots, I wouldn't worry about it.
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Old 08-12-2013, 08:49 AM
 
Location: Texas State Fair
8,567 posts, read 9,330,054 times
Reputation: 4220
Quote:
Originally Posted by jdallas View Post
The only thing that matters is if YOU will be happy with a small yard. Have your agent pull the comps and make sure to check the deduction on the home valuation for the smaller lot size. As for anticipating resale at some unknown point in the future, one can only guess. There's a buyer out there for everything so you may just have some family come by opening weekend that absolutely hates the outdoors and lawn maintenance and thinks the yard is perfect.
That would be me. While I like the outdoors, I don't require a large backyard and would prefer the smaller enclosed area. I have that now but also have a big back yard behind the back yard. I pay less attention to maintenance back there. Probably just need a goat.
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Old 08-12-2013, 04:31 PM
 
401 posts, read 524,332 times
Reputation: 194
Quote:
Originally Posted by thesaint580 View Post
Thanks all. The dimensions are approximately 17 by 19 feet (plus a feet or more). The lot is around 6200 Sqft. I am guessing in the same area, the lot is around 7500-8000 Sqft. However, I did notice that all the homes in the same street have nearly the same lot. Also, it only has a 2 car garage.
sounds like your lot size may be approx. 55 x 113 ft.

My personal opinion only........ As a buyer, I always prefer to have a lot size of 60 x 120 ft at minimum for 3500sq ft or above size home with 2 car garages. I looked at Lennar Homes in Frisco where they have 55x110 lots and their model home was built on the same lot with 3500 sq ft. I personally felt backyard was too small. Some ppl may not find this an issue but some ppl like me may think it's not big enough. Builders always charge extra premium for a lot size and location, so it's no brainer that smaller lot reduces the total home price compare to another home across the street built with same sqft but bigger lot.

if you are serious about the home....... make sure you get comps from your agent and verify that you are paying less than $ per sq ft compare to other recently sold homes with a bigger lot. We have reached the tail end of a pick season of housing market...... so you may be able to negotiate if your offer is very competitive.
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