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My husband and I are working professionals in our 30s, recently relocated from the midwest. We are looking to buy a newly-constructed SFH or townhouse (~3000 sft) that is well built and with modern flair, and we are willing to spend up to 700k. The key for the location is that we would like to be within close driving distance to RTP (15-30 min). So this could encompass Durham, east side of chapel hill, northwest and west Raleigh. Proximity to good restaurants, coffee shops, grocery stores, indie movie theater is a big plus. We do not have kids (yet), so school district is a consideration mainly for resale purpose. After some initial exploration of the RTP area, we found we are very much attracted to the meadowmont neighborhood, and there are new townhouse development that are within our budget. An alternative is to look in more rural areas, such as Governors Club, where we can build our own house. We ruled out raleigh area after test-driving during the rush hours. We also like the downtown durham area, and the idea of living in a tobacco warehouse converted townhouse/condo sounds cool. We are hoping to gather some suggestions from this board: 1) which of the two options is better in terms of resale value: Meadowmont townhouse vs. SFH in Governor's Club (buying at the peak of the market makes us worry about the resale value should we have to move in the next few years). 2) did we miss out on some other neighborhoods that we should also check out? Thank you in advance for your suggestions!
Some general thoughts about Governor's Club-
Remaining lots for a new build are scarce and frankly the worst lots in the community-that's why they are still vacant. Power lines, bad drainage/slope, odd shape-my inlaws looked at lots in there years ago and there was not much to consider outside of Stone Brook.
Governor's Club resales don't seem to be very hot-a lot of them were built by the original owners who had more money than sense. A lot of them are full gut-jobs IMO, and the floorplans are way out of step with current trends.
I would much prefer to be in Meadowmont in my 30s.
Southern Village has really great resale value if you haven't looked there. It's very popular for professionals in Chapel Hill and is in the well sought after Chapel Hill district. Meadowmont is a good choice, but isn't it in a Durham school district? Resale will be higher in the Chapel Hill school district in my opinion. Check out Southern Village.
Some general thoughts about Governor's Club-
Remaining lots for a new build are scarce and frankly the worst lots in the community-that's why they are still vacant. Power lines, bad drainage/slope, odd shape-my inlaws looked at lots in there years ago and there was not much to consider outside of Stone Brook.
Governor's Club resales don't seem to be very hot-a lot of them were built by the original owners who had more money than sense. A lot of them are full gut-jobs IMO, and the floorplans are way out of step with current trends.
I would much prefer to be in Meadowmont in my 30s.
The one potential lot we looked at is in Saddle Ridge, and it does not appear to have the problems you pointed out. Maybe we should confirm that with a builder. Completely agree with you on the style of existing homes there.
Southern Village has really great resale value if you haven't looked there. It's very popular for professionals in Chapel Hill and is in the well sought after Chapel Hill district. Meadowmont is a good choice, but isn't it in a Durham school district? Resale will be higher in the Chapel Hill school district in my opinion. Check out Southern Village.
Thanks! will definitely check out Southern Village. Part of Meadowmont is in orange co.
I like meadowmont a lot. I've met a few people who live in governors club and all of them are older and retired, semi retired. I don't know if that's what the whole neighborhood is like or it's just a coincidence but it might be something for you to check out. I feel like meadowmont or as someone else mentioned southern village is better for people in your age range.
Location: Chapel Hill, NC, formerly NoVA and Phila
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I'll give you my opinion as someone who lives in Southern Village. While Governor's Club is quite attractive and upscale, it is really a golf-club/country-club community. It seems like a lot of older, wealthy folks who like to play golf live there. Many of the houses have decent sized lots, and there's a wide-range of prices from $350K to $3M. For the most part, I don't think there are sidewalks in the development, except maybe around the main drive and country club. They do have a nice pool. There are children there - my child went to a pool party there for someone on his soccer team, but I wouldn't think it's a majority of the homes. Their neighborhood swimmers combine with ours at Southern Village to form a swim team, although practices and meets are at SV's pool. (I don't know if that's because they don't have enough kids to form a team or what.)
Right outside the development is a shopping center with a Food Lion. a decent Italian restaurant, a bank, dry-cleaners, Chinese take-out, etc. But otherwise, it's mostly farmland and rural living nearby. And it's Chatham County schools, which most people I speak to seem to be happy with, at least the elementary level, but the schools aren't rated as highly on test scores as Chapel Hill Schools. It's funny because I never noticed the power lines until the last time I visited. They're pretty well-hidden behind the trees, but it would still make me cross the development off the list unless I was far away from them. Overall, I'd categorize Governor's Club as a truly beautiful, upscale, golf/country club development with many high-end homes. As a quick aside, we were there last week for a swim banquet and drove around and noticed that a few homes having work done on them had port-a-potties with lattice around them. I think that's the first time I've seen where port-a-potties had to be covered up, probably so it doesn't take away from the upscale, beauty of the community.
Meadowmont appears to be more of a mix of different kinds of people - families, seniors, singles, couples, etc. It is more centrally located off 54 so decent access to Chapel Hill, Raleigh, and Durham. It has a decent village within the development with a Harris Teeter, some restaurants, a nail place, coffee shops, etc. It has a nice pool that is run by the Y. The houses on on smaller lots, and there are sidewalks (I believe). Most of the development is on the Orange County side which is Chapel Hill schools and the most desirable schools (out of Chatham, Durham, CH) based on test scores. You do pay a premium for it, as you will find the housing on the Durham side to be much cheaper (at least 20%, I'd guess). While Meadowmont is a very nice, high-end development, it's not as visually impressive as Governor's Club. And I'd guess without looking that the highest-end homes would be in the $1M range rather than $3M.
Of the two developments, I'd pick Meadowmont for the central location, convenience, and what I think would be easier resale.
Since someone mentioned Southern Village, I will comment on that since I live here. SV is more similar to Meadowmont, but on even smaller lots. Most of the lots have alleyways behind them, which affords you very little privacy (Meadowmont does not have alleyways). There are homes that back up to land, but they come at a premium. I'd say SV is more family-oriented than Meadowmont. There are condos and apartments with singles and childless couples as well as seniors, but in the single family homes, it's mostly people with kids. Townhomes would be more of a mix of families, empty nesters and young couples. Condos are a mix also. Apts are a mix, too and obviously more transient. I think there are more things to do in SV than in Meadowmont. It also has the village concept with some stores, restaurants, and a grocery store (Weaver Street Coop in SV), but it also has a village green with a concert series every Sunday in season, a movie theatre, and outdoor movies every Friday in season, as well as a Farmer's Market every Thursday afternoon. It's not as centrally located as Meadowmont, and it is a bit cheaper. It's also in Chapel Hill School District so resale is good. Our listserv always has people looking to buy or rent here.
Anyway, those are my overall impressions after living here for 2 1/2 years. Hope that helped.
I wouldn't want either of the two for myself, but for the reasons you outlined I'd pick Meadowmont of those two.
For the things you mentioned being interested in I'd be more attracted to downtown Durham or downtown Chapel Hill.
Are you specifically wanting a townhouse or condo? You could certainly buy a nice SFH elsewhere for up to $700k. Plenty of those all around the Triangle. You don't need to limit yourself to east Chapel Hill. You just need proximity to I-40. North Chapel Hill would work, too.
new2rtp:
You might checkout Colvard Farms if you care to look at stand alone homes. One street has several resales on 1/4 acre lots beginning at $525,000. Homes on 1/2 acre lots are $600,000-$1,350,000. Located on NC-751 South of Southpoint mall (2 miles), most homes are in Chatham County, but a few are in Durham County. Close to eateries, shopping, the interstate and maybe 15-20 minutes from RTP and airport. No townhomes, but lots of families with children as well as retired folks. Has tennis courts, large pool, rec center with small gym.
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