Builder incentives (San Antonio, Alamo, Center: hardwood floors, apartment, renting)

[banker]

Originally Posted by texasgirl1

We just bought a David Weekley, got $34K off the price plus another $10K in realtor bonus that our family member realtor is giving us. Plus our relocation pays all closing costs, so we can apply the 1% origination fee they pay to lower our points on the interest rate.

So we are paying $91/sqft for our home.....granite, stone fireplace, flagstone exterior, 1/4 acre, etc..... We really did our homework (for the past 6 months) and told them what we wanted to pay and it was accepted. Of course we still wonder if we could have gone lower....but $91/sqft is a great price for the quality we are getting.

What neighborhood?

[banker]

Originally Posted by Bowie

I heard a radio commercial this morning which stated that Pulte is currently offering discounts of up to $40,000 on some of their new homes.

Those are inventory homes...not build to order homes. Nearly all the builders are giving huge incentives to purchase inventory homes...but not many are giving equally large incentives to order and build a home.

[texasgirl1]

Originally Posted by banker

What neighborhood?

The Preserve at Alamo Ranch. It is a relatively less expensive area to live in compared to North Central/I-10 corridor. The same size house in Rogers Ranch would have probably been $40-50K more, but we wanted to be less than 30 minutes to grandparents and Alamo Ranch is what appealed to us in that area.

[Rebelsbabe]

So when looking at base prices for houses. Its not neccessarily going to be more for upgrades you might get them included in the base price? Plus more money to keep??????

[tekka-maki]

I kind of think upgrades are analogous to when you get a good deal at Best Buy but only when you bundle a 2 year warranty, HD Digital Advantage, etc. Certainly things like outside appearance (elevation, brick design, etc.) and lot size are an investment, but a lot of the stuff inside seemed like fluff (except the kitchen). We bought spec so didn't have any choices; original buyer purchased a lot of upgrades, but they pulled out before SP did the tile so we have linoleum throughout, which is kind of a good thing because we plan to add ourselves along with travertine in the master bath, backsplash, mahogany front door, etc. We like planing all the things we will do as a sort of fun exercise.

Yes price per sq. foot is really good here relative to West Coast. Price per foot is really the only metric worth looking at objectively as the rest is smoke and mirrors. I'm at $60/sq foot., but boy do that get you with taxes, again (makes me wonder when SA will annex outside parts of 1604 in NW so we can share the love)... nothing compared to West Coast, but Cali is obscene...

I too remember Medallion telling us all the extras they provided as standard but I didn't fact check most of it so I don't know. But they were asking too much off Potranco, imo... and the HOA was twice as much as here. Plus they had already did crown and side moldings and we wanted to do that ourselves...

[banker]

Originally Posted by tekka-maki

Certainly things like outside appearance (elevation, brick design, etc.) and lot size are an investment, but a lot of the stuff inside seemed like fluff (except the kitchen).

This is the approach we took when looking to build. Location, full four sides brick/stone, structural features like three car garage and large covered porch and the over all floor plan were a priority. Most interior upgrades are fluff - and often times over priced. These are things that can be done later without adding them to the mortgage and your sales price - which will affect your tax value. Saddly - many people want the fluff and give on the important things like elevation, brick and location to get grantite, stainless steel, crown moulding and oil rubbed bronze fixtures. If all the bones are right - elevation, brick, location, structural features - all the fluff can be added later on a cash only basis with a bigger return on your investment.

[tekka-maki]

Very true banker... I know you did your home work... maybe when my checkbook allows it, I'll be a neighbor. I think the biggest influence is location, and brick/stone is certainly an important consideration, but a lot of that depends on which part of the country you're in (think you mentioned that too). When I lived in the NW suburbs of Chicago... I saw some really nice custom homes and many of them had no brick at all, but beautiful... and no need for HOA as affluence leads to community conscience neighbors who are always striving to have a nice curb appeal.

I thought HOA was a scheme when I moved here... now I know I'll never live in SA without it.

[Bo]

Originally Posted by banker

Those are inventory homes...not build to order homes.

You say that like it's a bad thing. I got a terrific deal from the builder on my inventory home. Inventory homes can be a great option for those who are relocating and don't want to rent. As you said in post #16, amenities can be added later if the home doesn't have everything you were hoping for.

[Rebelsbabe]

We wont be our home more than 5 years probably, so should we care so much about all brick etc since this isnt our home forever? We need lots of space and not a huge price.... Thanks for all info.

[banker]

Originally Posted by Bowie

You say that like it's a bad thing. I got a terrific deal from the builder on my inventory home. Inventory homes can be a great option for those who are relocating and don't want to rent. As you said in post #16, amenities can be added later if the home doesn't have everything you were hoping for.

Not a bad thing...just highlighting the difference. Builders typically will not give the big incentives on built to ordered homes that they would on inventory homes that they need to get off their books.