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Vicki R: A while back, someone asked questions about finding land/house that was not part of a subdivision, and you responded with your thoughts:
Quote:
If you have explained to your Realtor that you do not want to live in a subdivision period, what is the problem?
Maybe she is just explaining to you WHY its a better investment to live in a subdivision?
Otherwise, tell her that you'd like to sit at the computer with her and search, with her help.
If she simply refuses, move on!
Vicki
The highlighted info in red, could you elaborate a bit more? I don't know how often you get to this board or whether you might be on vacation, so that's why I added ..."any of the NC Realtors on this ..." to the title, in case they have the same opinion, or varying.
Not trying to start any big controversy. I would just like to hear why Vicki R or any of the other NC realtors may feel it is a better investment to live in a subdivision when it comes to house/land/acreage/privacy, which is what I think the original poster was looking for.
Thanks so much! I will be cutting and pasting the responses into my relocation files.
I'm actually the originally poster of this topic. We are currently looking to buy a home NOT in a subdivision, or at least finding a home that is in a neighborhood w/out a HOA and fees. I have spoke with many people in great detail as to why some feel it is a better investment to purchase a home in a subdivision. Personally I feel that b/c so many people are relocating here right now that a subdivision is a quick fix on a home that is lower in price and so many to choose from. We have driven through neighborhoods in Creedmoor with MANY of the houses for sale. When I asked my realtor why this may be a trend she just shook her head saying she had no idea. I feel that it may be b/c people are realizing that a subdivision may not be a long term investment! These houses are going to be bought and resold many times over. Whether this is a good thing or not really is your decision? Also, many northerns may not be used to the subdivisions! The place I grew up is a neighborhood with houses all built by the same builder but with their own distinct look! They are spread out with trees and room to do whatever you want on your own land. Many people may not want to be told what color to paint their house, that they can't have a fire outside or how to landscape their lawn.
But there are people looking to live in subdivisions, and they are buying them up! What happens when they are filled? Where are all these people going to go?? Do you make money if you live in one for a few years and sell? Honestly I have no idea!
Subdivisions definitely make realtors and appraisers lives easier. It's easy to figure out the value of a home when it is in a neighborhood of 100 homes that are more or less the same, and when a dozen of the homes sell each year. Alot tougher for them to value a home out in the woods, where maybe 4 or 5 houses in a 4 mile radius sell in a year, with house sizes varying by 1000 sq ft and lots of 0.5-4 acres.
As there is a bigger market for the subdivision houses that can be tracked by comparable sales, they tend to increase value more rapidly. The house out in the woods won't increase in value as rapidly because fewer people will be looking to buy it, and neither the realtors nor the appraisers will accept too much of an increase in value.
As a Realtor, I agree with toot. In this area, it doesn't matter, valuewise, whether or not it's a subdivision....it's simply a matter of buyer's preference. Now when you get into more rural areas, determining value may be an issue, but rarely do I run across that here in the Triangle
I'm actually the originally poster of this topic. We are currently looking to buy a home NOT in a subdivision, or at least finding a home that is in a neighborhood w/out a HOA and fees. I have spoke with many people in great detail as to why some feel it is a better investment to purchase a home in a subdivision. Personally I feel that b/c so many people are relocating here right now that a subdivision is a quick fix on a home that is lower in price and so many to choose from. We have driven through neighborhoods in Creedmoor with MANY of the houses for sale. When I asked my realtor why this may be a trend she just shook her head saying she had no idea. I feel that it may be b/c people are realizing that a subdivision may not be a long term investment! These houses are going to be bought and resold many times over. Whether this is a good thing or not really is your decision? Also, many northerns may not be used to the subdivisions! The place I grew up is a neighborhood with houses all built by the same builder but with their own distinct look! They are spread out with trees and room to do whatever you want on your own land. Many people may not want to be told what color to paint their house, that they can't have a fire outside or how to landscape their lawn.
But there are people looking to live in subdivisions, and they are buying them up! What happens when they are filled? Where are all these people going to go?? Do you make money if you live in one for a few years and sell? Honestly I have no idea!
Well, hello to you! Sorry to have used your post. It was Vicki R's exact statement that I was interested in. I didn't know if she would remember the post, so I had to paste your post in my question, hoping to jog her memory.
From Vicki R, I'm trying to find out about the legal shmegal side of it, if that's what she was referring to. Not the personal preference side of it or the HOA side of it. It's the legal shmegal realtor type info I'm trying to find out about (land may be zoned one way and then rezoned another way and not advantageously, possibly no sewer lines/water lines and you have to get that installed properly, or even resell problems, etc.). The kind of info that a realtor would know about and would give a heads up to a client who says +/- 5 acres, no subdivision, fairly close to a city.
Hope this clarifies my intent/interest.
PS: Not trying to exclude anyone from answering, I enjoy reading this board. It is just that I don't want to start a HOA pros and cons war concerning subdivisions, that's all.
Not a realtor, and I know you wanted realtor replies, but if you don't mind I'll just pop in here with a comment or two. Our subdivision has *large* lots, some over 2 acres. We have an HOA that is laid back, and *voluntary* HOA fees of $50/year. I'm convinced that unless you have lots of land, like 5 acres or more, you are better off in a subdivision. It will protect the value of your home better, and it will see better appreciation. Plus, you know when you buy what is next door to you.
That having been said, I'm really looking forward to what what realtor comments will be in response to your question. Their perspective is often so much more insightful.
Sorry for the delay in getting back to you, virgo. I've been busy busy busy!
The reason I suggest to most buyers that living in a subdivision is a better investment is simply due to the fact that MOST BUYERS prefer a subdivision.
If you build outside of a neighborhood and it comes time to sell, you have narrowed down your pool of buyers.
Also, living outside of a subdivision, the land around you could allow mobile homes, which do not increase YOUR property's value.
I explain to my buyers/sellers the positives and negatives and then allow them to make an educated decision as to what they prefer.
Let me illustrate this factually. When you build a home being on a big piece of ground on it's own does not put as much value in the home then the "location" of having it in a nice subdivision. Lets say for all purposes the same home is built in both places. The location of the home contributes to the value. Here in Penciltucky my home built in a subdivision is worth much more than if it was built on it's own on a piece of ground someplace regardless of where that solo plot is. The HOA helps hold that value. People under a restrictive covenenant must keep their property up, cut grass, do basic maintenance etc. You don't like the document but it retains value.
In the end it is up to you. I will always pick a subdivision.
Basically, it always comes down to supply and demand.
Is there more of a demand for homes within a subdivision or homes outside of one?
Now if you are building a log home in the boonies with a pond and horse farm (like my brother did) on 25 acres...when it comes time to sell, lets hope we can find a buyer just like him!!! Although he says since he built his "one of a kind home/lifestyle" he isn't ever going to move!
It is a matter of personal preference but I think there are many people who rather NOT buy in subdivision given a choice. If I could find my current house plunked down in the middle of an acre or two of land, I'd buy it in a heartbeat.
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