Lot Values (Arlington, Frisco: how much, house, to buy)

[SouthernBelleInUtah]

Few people look at house hunting that way. They look for location, schools, features, price, and that "home feel" when buying. Mention this only as you are not familiar with US buying tendencies.

[ObamneyI]

Land value is important but for most buyers its way behind wood floors and granite countertops. You may find it ironic but there is a reason US high schoolers are way behind China and Singapore in maths.

[Transplant13]

^^ :-)

[Mulching]

Originally Posted by ObamneyI

Land value is important but for most buyers its way behind wood floors and granite countertops. You may find it ironic but there is a reason US high schoolers are way behind China and Singapore in maths.

You got a point but we do what Realtors and HGTV tells us to do.

[ETex2]

Originally Posted by JTC Mom

I think of it this way...the house structure depreciates in value over time while the land could either appreciate, depreciate or stay the same, depending on its location. So the "investment" in your real estate is in the land, while the structure itself is more of a consumption good. As to which is better...investment is better than consumption for building wealth...but consumption is better for quality of life in the moment.

Well stated.

[Tripolar]

Originally Posted by ObamneyI

Land value is important but for most buyers its way behind wood floors and granite countertops. You may find it ironic but there is a reason US high schoolers are way behind China and Singapore in maths.

Well said!

[Transplant13]

I found this very informative.

Top 4 Things That Determine A Home's Value

[Big G]

I don't live in my land -I live in my house.

If you're an accountant working with rental property, or buying investment land, or if your house burns down, then the exact values of land vs. improvements matter, otherwise no.

If you look at, say, $800k properties in Highland Park, Plano, and Prosper, you'll get a lot more house in Prosper, and a lot less house in HP, reflecting the relative value of the land in the $800k total. But one choice isn't inherently universally better or worse than the others - it's about what you want in a home.

[pinipig523]

Originally Posted by Big G

I don't live in my land -I live in my house.

If you're an accountant working with rental property, or buying investment land, or if your house burns down, then the exact values of land vs. improvements matter, otherwise no.

If you look at, say, $800k properties in Highland Park, Plano, and Prosper, you'll get a lot more house in Prosper, and a lot less house in HP, reflecting the relative value of the land in the $800k total. But one choice isn't inherently universally better or worse than the others - it's about what you want in a home.

QFT. You gotta do what's best for you.

For me, I wanted to get a place where location was prime. I really wanted to do HP/UP, but it wasn't the price that was a negative, it was that it was far from my places of work. Hence, I decided on Southlake. Location is good, land is getting more and more scarce and it is almost built out.

[ObamneyI]

Location, location, location. If a lot has more value then most likely it comes with a desireable location, good schools, short commute to major employers and a steady resale.