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Old 01-25-2009, 01:06 PM
 
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I'm not currently in the market for this, but I had this discussion last night with someone who works for one of the big housing projects in the area. It would be nice if it were possible for a single person or a couple who do not want to live in housing in which there are shared walls, to be able to have a smaller house but that is *great quality* and with all the bells & whistles offered on those 4,000+ sq ft luxury homes.

The so-called expert I spoke to said "good luck" cause that doesn't exist in Cary, and good luck finding a parcel of land you can purchase and then bring in your own custom builder.

I found myself thinking that surely there is a market (or at least was a market before everything tanked) for really nice but smaller homes...homes under 2,000 sq ft, but no smaller than, say, 1,400 sq ft. Something like cottage homes or villas but you're not exactly on top of your neighbors.

Am I crazy to think this is not an unwanted thing and that a person doesn't have to move out to the middle of nowhere in order to be able to have a nice plot of land (say 1/2 acre) and a gorgeous but smaller house on said land?
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Old 01-25-2009, 01:09 PM
 
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I would say no, the majority of buyers want a bigger house and smaller land. That is why all the homes built nowadays have houses on top of others. You might find a few but the are few and far between.

The "old time" houses were built with that in mind (2000 sq ft, 1/2 acre) but that seems to have gone by the wayside. My parents house was like that, however I can't find anything like that around here for anything reasonable. I have a 2000 sq ft on .13 acres.

I was worried about my wifes commute costs (gas, wear and tear on car) otherwise I would've bought out in the country, maybe in the future and electric cars come of age. So I bought in the city limits.

One thing I do think there is a lack of (especially here in the south, where wages are lower) is new homes in the 1200-1500 sq ft. area that could be sold for $100-$140k. There are a lot of buyers at that price point but the builders have been focusing on larger homes.
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Old 01-25-2009, 01:21 PM
 
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If you look at "new-ish" houses in the triangle, you can find what you are looking for. Up until about 2002/2003 when the mass migration from denser/more expensive areas (namely Long Island, California, and a little later on Florida) there was a much wider variety of homes being built in the triangle; cary included. Many houses built in the late 90's/early 2000's are of a decent yet manageable size (1800-2200 sq ft) with much more "elbow room". Since about the mid 2000's though you are correct; there has been way more building toward the higher end large homes on zero lot lines and that really baffled me. You might not be able to get a BRAND new house that is 2000 sqft with a decent sized lot; but you can get something that is between 7-12 years old that would meet that critera and, if well maintained; still have that "new" feel.
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Old 01-25-2009, 01:27 PM
 
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Well maybe larger land plots are not a reasonable thing in zoned areas close to cities, but I certainly think that 1,400 - 1,999 SFHs have a place (or should have a place). I, as a single person, have no need for a 3,000sq ft home, but neither do I want to have to share common walls and hear my neighbor's noise.

I purchased an 18 yr old home (now 21 yrs old) on 1/3 acre in Cary. I've already put on a new roof since it had the original one, and will be the one who replaces the masonite with hardiplank, puts in a few new windows, and will eventually need to replace the HVAC system when it goes, since that too is the original one (I do maintain a home warranty). Fortunately the inside is in great condition, the kitchen was updated already, and the paint and hardwood floors are all in very good shape, the pipes had been upgraded and there was a new hot water heater.

I contemplated purchasing/building a new home, but it was at least $80K - $100K more than what I ended up paying, and on a smaller lot as well. I figured even with the $35K - $40K I would end up spending the next few years to maintain and bring the exterior up to par as things wore out, I'd still be ahead, and I couldn't produce more *land* so having a larger lot gave me options to expand, if that was something important to do (or became important to the next owner of this house).

Tradeoffs for sure.

I'd love a brand new high-end custom builder 2K sq ft home. Maybe possible someday in the future...or maybe not.
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Old 01-25-2009, 05:52 PM
 
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Quote:
Originally Posted by lottamoxie View Post
Well maybe larger land plots are not a reasonable thing in zoned areas close to cities, but I certainly think that 1,400 - 1,999 SFHs have a place (or should have a place). I, as a single person, have no need for a 3,000sq ft home, but neither do I want to have to share common walls and hear my neighbor's noise.

I purchased an 18 yr old home (now 21 yrs old) on 1/3 acre in Cary. I've already put on a new roof since it had the original one, and will be the one who replaces the masonite with hardiplank, puts in a few new windows, and will eventually need to replace the HVAC system when it goes, since that too is the original one (I do maintain a home warranty). Fortunately the inside is in great condition, the kitchen was updated already, and the paint and hardwood floors are all in very good shape, the pipes had been upgraded and there was a new hot water heater.

I contemplated purchasing/building a new home, but it was at least $80K - $100K more than what I ended up paying, and on a smaller lot as well. I figured even with the $35K - $40K I would end up spending the next few years to maintain and bring the exterior up to par as things wore out, I'd still be ahead, and I couldn't produce more *land* so having a larger lot gave me options to expand, if that was something important to do (or became important to the next owner of this house).

Tradeoffs for sure.

I'd love a brand new high-end custom builder 2K sq ft home. Maybe possible someday in the future...or maybe not.

I'm sure a custom builder could accommodate you if you had a lot.

As you've been told, this area has seen an influx of folks who were used to tighter living in their previous areas and came running here when they learned that they could afford those wasteful supersized McMansions on postage stamp lots.

Builders, just like many automakers, provided what these people wanted since it made them a lot of money.

Those, like you, who appear to care about the planet, have to scout out a more modest home that meets your needs.

Big isn't always better.

Although we could afford an SFH for cash, we rent a flat since that's all we really need.
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Old 01-25-2009, 08:16 PM
 
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Quote:
Those, like you, who appear to care about the planet, have to scout out a more modest home that meets your needs.
While I do care about the planet, that's not the reason I think a smaller house would be excellent--it's that one person doesn't really need a 2,500+ sq ft house to live in alone. Plus, even if I wanted a huge house, I can't afford it on my salary. Most people I know, like myself, who are living alone, no kids, simply don't need or want THAT much house to have to take care of/clean/maintain, etc. A 4+ BR house is a lot of house for one person, living alone. A house at or under 2K sq ft is a lot more manageable as well as affordable.
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Old 01-25-2009, 08:27 PM
 
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You might want to check out Scotts Mill in Apex as well. Most if not all of the homes there are fairly new (almost all built since 2000, many only a couple years old) they are on decent sized lots and very "nice". They tend to have and old fashioned craftsmen style to them and from what we saw house hunting a few years ago most have crown molding, wood floords, and many upgrades at all different pricepoints and sizes.
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Old 01-25-2009, 08:34 PM
 
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There are numerous small architechs/builders in the area who do small custom homes. Buildsense in Durham off the top of my head.
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Old 01-25-2009, 08:35 PM
 
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Quote:
Originally Posted by lottamoxie View Post
While I do care about the planet, that's not the reason I think a smaller house would be excellent--it's that one person doesn't really need a 2,500+ sq ft house to live in alone. Plus, even if I wanted a huge house, I can't afford it on my salary. Most people I know, like myself, who are living alone, no kids, simply don't need or want THAT much house to have to take care of/clean/maintain, etc. A 4+ BR house is a lot of house for one person, living alone. A house at or under 2K sq ft is a lot more manageable as well as affordable.
I agree with you, but unfortunately the vocal majority of people out there don't....they want square footage. I live in a North Raleigh neighborhood where the homes max out at around 1,500 square feet. Nine times out of ten when somebody moves out it is because they are expecting another child and want more room. Eventhough I grew up in a house that was smaller than 1,500 sq/ft with two parents and 3 kids under one roof, today's families want more space. And lets face it, there are a lot of families here in the Triangle.

The lot issue is a matter of land prices. The land value is independent of how big or small the house is. I'm on a .08 acre lot in N. Raleigh. The tax assesed value is $46K for my lot. If I wanted a half acre at that going rate for land in this area the price of the land itslef would exceed my entire housing budget of $165K.

In some respects I think builders have "missed the boat" by underestimating the demand that I expect to grow for smaller single story ranch houses as the baby boomers retire in massive numbers. However, I would expect these same people would be for the most part more interested in having smaller yards to cut down on yard maintenance.
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Old 01-25-2009, 08:52 PM
 
Location: Don't be so snarky
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I would love a $300k custom home that has top of the line everything thats 2000 sq ft. Good starter home for a young couple who may have a kid in the next 5 years. Is it possible to build this in Cary/Apex or would one have to venture further out?
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