Somerset Meadows, Columbus, IN? (Indianapolis, Jonesville: mortgage, new home, neighborhood)

[dreaming4south]

In our search for where to relocate in IN, I am drawn to new homes that I can build to the specs I want. This led me to Somerset Meadows. I see that there are some lots that go up to 5 acres! We like land.

I did have some questions from people that might live around there, as it is not convenient to drive down there as often as we would like, and the realtor on the listing will of course tell me all the good, no bad. If anyone could give me some insight, I would really appreciate it.

First, the lots seem reasonable. Is there a price minimum on the home builds? If I buy a lot for 69,000, do I have to build a home valued at, say, 300,000?

Second, I assume there is an association. Are associations strict there? I would like to know what is and isn't ok before I even start to look into building. My dream would be to plant lots of raspberry bushes and offer a "pick-your-own" to the community as a farmer has done up here near us. And own more than one German Shepherd. And have a shed. And ... well, you get the idea. I have dreams!

Is the commute reasonable to Columbus? Or Indianapolis (I am not familiar with the side areas of Columbus). DH is a machinist, and while I realize the economy stinks right now, his field should be picking up if all things go as we hope since Obama's plans seem to be pushing for blue collar workers to get back to work. With two daughters looking at Indiana schools for college, living in IN sure would help with those tuition bills, even if he did take a pay cut!

Thanks for any input you can give me!

[arossi]

Hello, Somerset Meadows is a neighborhood of about 24 homes/homesites. The homes in Somerset Meadows are very nice, probably mid to upper 300,000 to 500,000 range. I believe that most of the lots that are available now are level lots and there are no trees. Also, most of the lots that are currently available back up to other homes or 400 West. In my opinion, that is the major downside. The lots are big, but not a lot of privacy.

It is not that far out from Downtown Columbus. Just take 400 West, which turns into 200 South, to Terrace Lake or to Jonesville Road/State Route 11. Somerset Meadows is in the Mount Healthy Elementary School district. At one time I did have a copy of the covenants. I don't believe that there were any specific covenants pertaining to the value of your home in ratio to the price of the lot. I believe that they pertain more to the square footage. If I can think of anything else I'll post it. Let me know if you have any other questions. Good luck!

[dreaming4south]

Thanks arossi!

I suppose, from your description, perhaps that would not be the ideal spot for us. While I would be comfortable purchasing something in the $350,000 range, anything above that would be too much. In fact, we should be under that, as we would like to have as small a mortgage (or none!) as possible. My husband would prefer something under $100,000 - I am not handy nor patient enough for a fixer-upper, even if it has 10 acres!

It is too bad that the location of the lots is not the best, but that sure does help make it easier to not consider that location! I appreciate you taking the time to answer my questions!