Richardson vs Prosper (Dallas, Plano, Allen: for sale, custom home, neighborhood)

[panacea1982]

We are looking to do a custom home with a budget around $2.5M. The builder offered the option of half acre lot in either Richardson or Prosper. Saw both cities. Very difficult. If we build in Richardson, the house will be the most expensive on the street. The builder said the Richardson ISD is good but we are not too sure about it. Prosper is just so new. Kind of far out there. Have to drive to Frisco/Plano for a lot of things.Also not sure what the city is going to be in another 10 years. So much open land.

We just want to see other folks' opinions which city will be better maintaining home value.

Thanks!

[NP78]

Originally Posted by panacea1982

We are looking to do a custom home with a budget around $2.5M. The builder offered the option of half acre lot in either Richardson or Prosper. Saw both cities. Very difficult. If we build in Richardson, the house will be the most expensive on the street. The builder said the Richardson ISD is good but we are not too sure about it. Prosper is just so new. Kind of far out there. Have to drive to Frisco/Plano for a lot of things.Also not sure what the city is going to be in another 10 years. So much open land.

We just want to see other folks' opinions which city will be better maintaining home value.

Thanks!

I think both will be fine for maintaining home value. Very different vibe though. Go with whichever you prefer.

[DFW_FTW]

Skip both and go with a smaller home in University park, Southlake, Colleyville, Lucas/Fairview, Frisco, Allen or Plano.

The schools are much better than both cities, location is better than Prosper and homes hold value / appreciate easily in those areas due to heavy demand.


Do you really want a McMansion in BFE or do you want the most expensive house on the block that you can't sell or exit from? Those are your options you are looking at right now and asking us about.

[ThomasCrown]

$2.5 million is no longer McMansion territory IMO. From these two choices, build in Prosper. There are many homes valued at that price and higher in Prosper, but in Richardson it would be priced higher than nearly all homes available and would keep your home valuation somewhat tethered.


Stay on the East side of Prosper, east of the Tollway, or east of Preston.

[mastershake575]

Originally Posted by panacea1982

The builder said the Richardson ISD is good but we are not too sure about it.

This is 100% dependent on which neighborhood.

For 2.5 million I'm assuming it's in Prairie Creek which has like the 5th or 6th highest ranked public elementary school in all of North Texas and would be ranked higher than any Prosper elementary school.

The only other areas I could see for 2.5 is a house that literally backs up to the Canyon Creek Country club or a house in the reservation/mohawk area that backs up to a creek. Those 2 are also really nice elementary schools.

Originally Posted by NP78

Very different vibe though. Go with whichever you prefer.

Yes very different vibe so it's hard to say. Prosper will obviously be newer and have more of a Northern Collin County vibe. Richardson will be closer to Dallas proper and for 2.5 million most likely be in an established 1960s era neighborhood so older and more scenic.

[tcualum]

Where will you be working? Depending on location the commute to and from Prosper could be brutal.

[TurtleCreek80]

Originally Posted by panacea1982

We are looking to do a custom home with a budget around $2.5M. The builder offered the option of half acre lot in either Richardson or Prosper. Saw both cities. Very difficult. If we build in Richardson, the house will be the most expensive on the street. The builder said the Richardson ISD is good but we are not too sure about it. Prosper is just so new. Kind of far out there. Have to drive to Frisco/Plano for a lot of things.Also not sure what the city is going to be in another 10 years. So much open land.

We just want to see other folks' opinions which city will be better maintaining home value.

Thanks!

Totally different vibes. I’m not even sure how you could end up with those 2 locations as you final choices because they are polar opposites.

For Richardson, which elem/middle/high school is it zoned? Some feeders are outstanding (better than Prosper), most will be on par with Prosper, some are below Prosper. It’s a huge district with very good leadership but big district problems like some schools having a high percent of economically disadvantaged kids. I prefer Richardson - closer into town, better & more diverse dining / shopping / entertainment options, more trees & creeks, access to more highways, etc. HOWEVER — $2.5M is not just going to be the highest price home on the block….it’s going to be one of the most expensive homes in the entire RISD. Right now there are 400 homes for sale in RISD and the highest price listing is $2.49M. I would have a much different opinion if you were building a $1.5M - $1.8M range. A new build in that range would hold/gain its value very well in the short and long term.

I think on principal alone, I cannot tell you to spend $2.5M in Richardson.


$2.5M is also on the VERY high end for Prosper and I would like to see you get a bigger lot than .5 acre for $2.5M but at least there’s some company there in the $2.5M range. Schools are solid if a little backwards / conservative in their leadership. Less diverse. Less options for shopping / dining / entertainment. You’ll be driving A TON. You have to live in the mess of a growing city w/r/t school rezoning, constant road construction & roads being widened, etc. Far from both major airports. Not great highway access (only DNT & 380). But huge future potential for value growth as the city completes buildout over the next few decades.

All that said, for $2.5M, I’d rather see you park that $$ in a house in Highland Park ISD (would prob be a 10-15 year old house if you like newer construction) if you like being closer to the city or Lovejoy ISD if you prefer outer ring suburb/semi-rural. Fairview & Lucas are two great towns in Lovejoy ISD where $2.5M gets you new construction + huge lot AND is a “sweet spot” budget with homes going up towards $4-5M at the upper end. And IMO better location than Prosper with access to 75 & 121 & 380.

[Watchful]

Originally Posted by TurtleCreek80

Totally different vibes. I’m not even sure how you could end up with those 2 locations as you final choices because they are polar opposites.

For Richardson, which elem/middle/high school is it zoned? Some feeders are outstanding (better than Prosper), most will be on par with Prosper, some are below Prosper. It’s a huge district with very good leadership but big district problems like some schools having a high percent of economically disadvantaged kids. I prefer Richardson - closer into town, better & more diverse dining / shopping / entertainment options, more trees & creeks, access to more highways, etc. HOWEVER — $2.5M is not just going to be the highest price home on the block….it’s going to be one of the most expensive homes in the entire RISD. Right now there are 400 homes for sale in RISD and the highest price listing is $2.49M. I would have a much different opinion if you were building a $1.5M - $1.8M range. A new build in that range would hold/gain its value very well in the short and long term.

I think on principal alone, I cannot tell you to spend $2.5M in Richardson.


$2.5M is also on the VERY high end for Prosper and I would like to see you get a bigger lot than .5 acre for $2.5M but at least there’s some company there in the $2.5M range. Schools are solid if a little backwards / conservative in their leadership. Less diverse. Less options for shopping / dining / entertainment. You’ll be driving A TON. You have to live in the mess of a growing city w/r/t school rezoning, constant road construction & roads being widened, etc. Far from both major airports. Not great highway access (only DNT & 380). But huge future potential for value growth as the city completes buildout over the next few decades.

All that said, for $2.5M, I’d rather see you park that $$ in a house in Highland Park ISD (would prob be a 10-15 year old house if you like newer construction) if you like being closer to the city or Lovejoy ISD if you prefer outer ring suburb/semi-rural. Fairview & Lucas are two great towns in Lovejoy ISD where $2.5M gets you new construction + huge lot AND is a “sweet spot” budget with homes going up towards $4-5M at the upper end. And IMO better location than Prosper with access to 75 & 121 & 380.

WOW - if I were considering DFW I would no who to call. Great analysis and well presented.

[SherPhilly]

Originally Posted by TurtleCreek80

Totally different vibes. I’m not even sure how you could end up with those 2 locations as you final choices because they are polar opposites.

For Richardson, which elem/middle/high school is it zoned? Some feeders are outstanding (better than Prosper), most will be on par with Prosper, some are below Prosper. It’s a huge district with very good leadership but big district problems like some schools having a high percent of economically disadvantaged kids. I prefer Richardson - closer into town, better & more diverse dining / shopping / entertainment options, more trees & creeks, access to more highways, etc. HOWEVER — $2.5M is not just going to be the highest price home on the block….it’s going to be one of the most expensive homes in the entire RISD. Right now there are 400 homes for sale in RISD and the highest price listing is $2.49M. I would have a much different opinion if you were building a $1.5M - $1.8M range. A new build in that range would hold/gain its value very well in the short and long term.

I think on principal alone, I cannot tell you to spend $2.5M in Richardson.


$2.5M is also on the VERY high end for Prosper and I would like to see you get a bigger lot than .5 acre for $2.5M but at least there’s some company there in the $2.5M range. Schools are solid if a little backwards / conservative in their leadership. Less diverse. Less options for shopping / dining / entertainment. You’ll be driving A TON. You have to live in the mess of a growing city w/r/t school rezoning, constant road construction & roads being widened, etc. Far from both major airports. Not great highway access (only DNT & 380). But huge future potential for value growth as the city completes buildout over the next few decades.

All that said, for $2.5M, I’d rather see you park that $$ in a house in Highland Park ISD (would prob be a 10-15 year old house if you like newer construction) if you like being closer to the city or Lovejoy ISD if you prefer outer ring suburb/semi-rural. Fairview & Lucas are two great towns in Lovejoy ISD where $2.5M gets you new construction + huge lot AND is a “sweet spot” budget with homes going up towards $4-5M at the upper end. And IMO better location than Prosper with access to 75 & 121 & 380.

I totally agree with the Lucas/Fairview idea. For 2.5M Lucas/Fairview could be a gold mine and the location is excellent like you said. Since the choices are Richardson and Prosper someone has to be working from home or have a very flexible forgiving schedule so Lucas/Fairview would be perfect. Your recommendation is spot on as someone who isn't a native but has lived here for over 6 years.

[Texas100]

Why not the Park Cities?