Hudson Heights - Lennar Homes (Plano, Richardson: sales, power lines, to rent)

[Nhousehunter]

Interested in buying a home from Lennar, first time buyer, and dont plan to live there too long probably about 5 years or so.

Hudson heights is on [font="Lucida Sans Unicode"]Plano Pkwy & North Star Rd, Plano, TX 75074. Assigned elementary school and middle school are Stinson and OttoAny guesses for a resale value in east plano.

The cost for a 3200 Sq foot home is around 360K at this location. Is it worth it ?

Please share any experiences of the builders and quality of their works

[Nhousehunter]

Interested in buying a home from Lennar, first time buyer, and dont plan to live there too long probably about 5 years or so.

Hudson heights is on Plano Pkwy & North Star Rd, Plano, TX 75074. Assigned elementary school and middle school are Stinson and OttoAny guesses for a resale value in east plano.

The cost for a 3200 Sq foot home is around 360K at this location. Is it worth it ?

Please share any experiences of the builders and quality of their works

[aggieplaya]

The biggest problem I have with that area is the proximity to street traffic. It is right by a shooting range and police training facility. I would be concerned about resale value later. Lots of buyers don't want to be right next to busy streets or things like the police training facility, it is a turnoff for them. So there is the possibility of struggle to sell later on in my opinion.

[MurphyPl1]

That's actually a good area, but PP is right about traffic. It's not set up to handle the traffic it has now and will be worse with all those homes being built.

AggiePlaya brought up the shooting range and the police training facility. IMO the shooting range is the drawback and the training facility is a positive. There's always officers in and out of the facility - it's the academy for both Plano and Richardson. So just having those squad cars around will help with crime.

However, the neighborhood next to the one you're looking at actually has a trifecta of drawbacks (shooting range, train line and power lines) and it's selling well. Surprisingly so IMO. But I've talked to a few people that have said the schools and their commute are worth it. I suspect there will be a lot of State Farm folks in there eventually.

But Lennar isn't even finished with their model yet, there's no sales trailer, the infrastructure isn't complete. So you likely wouldn't even be in until a year from now.

I think you'd be better off buying existing in that area.

[mikestrong]

Model will be finished first week of August. If you bought now, you would be looking January move in. It doesnt take a year to build at lennar. 6-7 months. Sales trailer wasnt allowed but 8 homes have been sold there in the last 3 months from just internet leads. Pricing and standard features are great. I would say within 12 months you will see an increase of 25k from lennar rasing prices. I know the sales person there. For it being east plano, its a good area.

[MurphyPl1]

Spoken like a builder

[mikestrong]

Originally Posted by MurphyPl1

Spoken like a builder

Working for a builder doesnt make you dishonest. Average build time at Lennar for the last 12 months has been 6-7 months from time of contract. I know there are some other builders, where I have friends working, that are having longer build times, but nobody I know is going as long as you are talking about. A year is just silly at a big builder.

[MurphyPl1]

I didn't say dishonest. Optimistic perhaps. I just don't see them being able to jump on construction at the location as quickly as you're saying. Perhaps I'm wrong, but I've watched a lot of construction and had a lot of friends build homes over the last 10 years as I've done and the one constant is overly optimistic timelines.

[SouthernBelleInUtah]

Originally Posted by Nhousehunter

Interested in buying a home from Lennar, first time buyer, and dont plan to live there too long probably about 5 years or so.

Hudson heights is on [font="Lucida Sans Unicode"]Plano Pkwy & North Star Rd, Plano, TX 75074. Assigned elementary school and middle school are Stinson and OttoAny guesses for a resale value in east plano.

The cost for a 3200 Sq foot home is around 360K at this location. Is it worth it ?

Please share any experiences of the builders and quality of their works

You will likely lose money on it. Five years is barely break-even point on realtor fees/closing costs/etc. Much better to rent if 5 yrs is all you expect to stay. You will also be competing with brand-new houses still being built, if not there, somewhere. Everybody wants "brand-new" these days.

[mikestrong]

Originally Posted by SouthernBelleInUtah

You will likely lose money on it. Five years is barely break-even point on realtor fees/closing costs/etc. Much better to rent if 5 yrs is all you expect to stay. You will also be competing with brand-new houses still being built, if not there, somewhere. Everybody wants "brand-new" these days.

Price raises from this first phase to 3rd will be 40-50k. They have already gone up 10k since community started pre selling and the model isnt complete yet.

A community they had in Mckinney went up 45k in 15 months and people were already starting to resale.
SO, this is not the old market anymore.