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Old 02-04-2023, 11:05 AM
 
166 posts, read 281,349 times
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The Preserve, in St. John, is marketed as the latest upscale subdivision. But the overall quality of homes is questionable. While some homes look semi-custom with high-end appointments, others appear mass produced. By comparison, Rosewood Estates, just across the street, has homes that consistently appear to have high-end quality.

Can anyone share insight?
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Old 02-09-2023, 09:41 PM
 
Location: Bloomington IN
8,590 posts, read 12,223,174 times
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Look at the age of the subdivision. From what I can see some of past listings some of the houses in Rosewood Estates are 20 years old.

As most people know the price for building materials and labor and housing increased dramatically during the pandemic. I'll use my house as an example as it's similar to some of those I see in Rosewood Estates and built 21 years ago, but in a different part of the state. The year prior to the pandemic our appraised value was about 60% higher than the original build cost. We refinanced in 2019 so I know what it was. Today the appraisal would be 100-110% higher than the original build cost.

If we were to build it again that number would go even higher. That same year someone built on the last remaining lot in our neighborhood. They paid about the same for a house 1/2 the size with lesser quality materials as we had paid 20 years earlier.
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Old 02-12-2023, 12:39 PM
 
166 posts, read 281,349 times
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Wow, very interesting. Thank definitely why homes look cheaper but costs have gone up.
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Old 02-13-2023, 08:37 AM
 
811 posts, read 2,322,809 times
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Quote:
Originally Posted by ta1064 View Post
The Preserve, in St. John, is marketed as the latest upscale subdivision. But the overall quality of homes is questionable. While some homes look semi-custom with high-end appointments, others appear mass produced. By comparison, Rosewood Estates, just across the street, has homes that consistently appear to have high-end quality.

Can anyone share insight?
I'm familiar with both subdivisions and you're correct in your perception of each, or at least I agree with you. The Preserve is specifically marketed to younger families who want a newer builds at a price point around $750k. Rosewood homes appear to be of a higher quality and are, as the name states, more estate-like than houses in the Preserve. If you want a much more community feel close-knit subdivision with a lot of kids, you'd go with the Preserve. For more charming real estate, you'd go across the street, though that's not a big subdivision and the options would be scarce. To your point though, I would suspect that the homes in Rosewood are of better quality.
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Old 02-23-2023, 12:25 PM
 
Location: Northwest Indiana
815 posts, read 2,983,086 times
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Comparing apples and oranges. Rosewood is at a much higher price point than the Preserve. It has much bigger lots, had probably a dozen different home builders for more individuality, and it was already partially wooded when it was developed. The Preserve is a builder-developer (Shilling), so only them as homebuilders, so just that will make them look more similar. The Preserve was a farm with no trees, and the lots are much smaller. The Preserve price point is generally about a quarter less than Rosewood. So that is why they are different.
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Old 03-08-2023, 10:20 PM
 
166 posts, read 281,349 times
Reputation: 69
Quote:
Originally Posted by richb View Post
Comparing apples and oranges. Rosewood is at a much higher price point than the Preserve. It has much bigger lots, had probably a dozen different home builders for more individuality, and it was already partially wooded when it was developed. The Preserve is a builder-developer (Shilling), so only them as homebuilders, so just that will make them look more similar. The Preserve was a farm with no trees, and the lots are much smaller. The Preserve price point is generally about a quarter less than Rosewood. So that is why they are different.
Thank you…interesting info. Guess there’s something for everyone in NWI.
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