Anything negative about having one of the least expensive homes in a really nice subdivision? (real estate)

[nu2charlotte]

My husband and I are thinking of building a new home in a very nice community in Cabarrus county- great school district too. The subdivision has homes priced well over $300-$400k. There is a brand new community within this subdivision at a much lower price point- $150k-$170k. These are nice homes too (not brick of course), same great schools and same amenities shared with the much nicer homes. Is there any disadvantage to being in the lower priced section?

[coped]

Originally Posted by nu2charlotte

My husband and I are thinking of building a new home in a very nice community in Cabarrus county- great school district too. The subdivision has homes priced well over $300-$400k. There is a brand new community within this subdivision at a much lower price point- $150k-$170k. These are nice homes too (not brick of course), same great schools and same amenities shared with the much nicer homes. Is there any disadvantage to being in the lower priced section?

The people in the bigger houses might thumb their noses at you and, if you share an HOA, any problems might be blamed on your section.

Have you looked into the history of the lower-priced section? Was there opposition from the people in the more expensive neighborhood. If there was, you might be in for some contentious HOA issues.

[lovesMountains]

Originally Posted by nu2charlotte

My husband and I are thinking of building a new home in a very nice community in Cabarrus county- great school district too. The subdivision has homes priced well over $300-$400k. There is a brand new community within this subdivision at a much lower price point- $150k-$170k. These are nice homes too (not brick of course), same great schools and same amenities shared with the much nicer homes. Is there any disadvantage to being in the lower priced section?

This is actually the best position to be in on resale

[Riley09swb]

I think that I may know the subdivision you are talking about. You would be apart of the subdivision just like the other homes even though you would be in the 4th village. I don't think there would be a down side to it at all.

If it's the same neighborhood I haven't heard any opposition at all (I think the homeowners always knew that eventually this village would be going in at some point). The HOA hasn't been turned over to the homeowners yet either.

[brokensky]

That is a dream situation. You don't have restrictions on first floor square footage? Go for it!

[rjm1cc]

The home in a village of similarly priced homes should not be a problem as long as the life style of the residents in the more expensive villages do not temp you to try and keep up with the Jones. I think I would go for it.

[krokus]

This is all positive. The percentile gain for resale should be marginally higher with what you are planning due to the up-market nature of the rest of the subdivision.

If this subdivision is where I think it is, I have looked there too but decided against 'cuz I do not want to build yet another new house.

The classic real estate saying for pre-owned houses in this situation is "The worst house in the best area will yield the greatest profit once renovated." This wil not be entirely true in your case but aside fromn the already mentioned HOA fees and some possibly stuck up neighbors, you should be on a winner here.

Go for it.

[cc0789]

It's the opposite that you need to avoid.... Being the highest priced in a division. Prices get pulled towards the average, so being below is good.