Which house should we purchase? Need help! (Welcome: for sale, loan)
Raleigh, Durham, Chapel Hill, CaryThe Triangle Area
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Not mega detailed, but its there. Can't find any results on the GC Licensing board site, but their search is not always 100% accurate. Searched on the names at the NC secretary of state site and got someone in Wilmington that's probably not them, so a decent chance they have no GC license any more.
Well at least we learned the Mardon house is custom not tract.
I was over on Green Hope School Road yesterday. Fryar's Gate (the Lennar community) has a ton of townhouses in a big "wall" along the entry to the neighborhood. It's not remotely welcoming, in my opinion.
Highcroft Village is better planned with more attractive homes. Resales go contingent very quickly there.
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I don't quite understand why the new construction house is $390 when the neighborhood is $320k-$370k. Seems like you'd be overpaying. Owning the most expensive house in a neighborhood typically means it will be harder to sell down the road.
2012 is still relatively new and the neighborhood is more established. You also won't have to hear construction noise or deal with red-clay-mud all over the neighborhood like you would with a neighborhood that is still under construction too.
$400k house on .1 acre lot?!
We really are turning into Long Island!
I can't stand the claustrophobic feeling of having homes so close together. I can understand tolerating it in situations like affordable housing, townhomes etc. but to pay a premium for a house just for cutesy exterior on a postage stamp seems nuts to me.
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Originally Posted by TarHeelNick
$400k house on .1 acre lot?!
We really are turning into Long Island!
I don't quite understand why the new construction house is $390 when the neighborhood is $320k-$370k. Seems like you'd be overpaying. Owning the most expensive house in a neighborhood typically means it will be harder to sell down the road.
2012 is still relatively new and the neighborhood is more established. You also won't have to hear construction noise or deal with red-clay-mud all over the neighborhood like you would with a neighborhood that is still under construction too.
I can't stand the claustrophobic feeling of having homes so close together. I can understand tolerating it in situations like affordable housing, townhomes etc. but to pay a premium for a house just for cutesy exterior on a postage stamp seems nuts to me.
Isn't it? I just bought and the lot is .18 which seems pretty small to me. Its not that bad in that the front yard is rather wide across the front while the backyard is smaller than I would like. At least it backs up onto a common area which gives the appearance of being quite a bit larger. No way I would fence the property in given the current size. At my age I wouldn't want to cut much more than .25 acre anyway.
In Oakwood, Mardecai, Cameron Park etc. you are paying a premium for location of being near downtown and within walking distance of shops, restaurants; etc. Also the historical aspect comes into play for many people.
I understand paying a premium for new construction as well; but when you are talking about the fringe of a large suburban town like Cary it does seem a little ridiculous to pay that much money for a postage-stamp sized lot. I don't doubt there is some demand for that type of development but it seems to be ALL that they are building around here these days.
In Oakwood, Mardecai, Cameron Park etc. you are paying a premium for location of being near downtown and within walking distance of shops, restaurants; etc. Also the historical aspect comes into play for many people.
I understand paying a premium for new construction as well; but when you are talking about the fringe of a large suburban town like Cary it does seem a little ridiculous to pay that much money for a postage-stamp sized lot. I don't doubt there is some demand for that type of development but it seems to be ALL that they are building around here these days.
West Cary is a stone's throw from RTP.
That's the other premium people are willing to pay, aside from "good schools" and "new house."
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Originally Posted by TarHeelNick
In Oakwood, Mardecai, Cameron Park etc. you are paying a premium for location of being near downtown and within walking distance of shops, restaurants; etc. Also the historical aspect comes into play for many people.
I understand paying a premium for new construction as well; but when you are talking about the fringe of a large suburban town like Cary it does seem a little ridiculous to pay that much money for a postage-stamp sized lot. I don't doubt there is some demand for that type of development but it seems to be ALL that they are building around here these days.
With raw land selling at $100,000--$150,000/acre, or even more, land prices are driving costs of new construction.
If a developer pays $100,000/acre for 20 raw acres, and develops infrastructure to build 20 homes on half acre lots, those are $300,000 lots.
Million dollar homes would be required to make it feasible for the developer.
That is why the $400,000 market is a tiny lot market. And with buyers in the market actively supporting those lot sizes, it is not likely to change soon.
I have a 1/3 acre lot and feel like a rancher or land baron.
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