Home appreciation in Northern metroplex suburbs (Lewisville, Frisco: townhouse, established neighborhood, buying)

[Charlie and me]

I am considering purchasing a single family house or a townhouse in the northern suburbs of the metroplex, close to my job in the legacy area. I have concentrated my search on two areas - Rivendale by the Lake in Frisco (Frisco address, but I think it is really in Hackberry) and Lake Ridge Townhomes in Lewisville/The Colony (near Main St and 121, close to the Grandscape development). Sumeer homes is building new townhomes here starting at $230K.

My question is which area would be best for resale? Which area has the most growth opportunity?

[EcoDeb]

Growth? The growth is way beyond 121. Look for quality of build and school district. Single family is usually a better bet. Welcome to Texas!

[stephwin]

Location-wise, I like Lake Ridge. I think it would be an easier/faster commute to the Legacy area, especially since the 423 construction is still ongoing. The other community is a bit out there and is a further drive for certain amenities.

For schools, I'd probably rather send my kid to Little Elm ISD (Rivendale) than The Colony HS. Both honestly, both schools for these locations are meh. Not great, but not the worst.

What's your budget OP? If you are interested in houses in this area, could you look for homes zoned to Hebron HS? It's a much better high school, but the options may be limited based on your budget.

[Charlie and me]

Originally Posted by stephwin

Location-wise, I like Lake Ridge. I think it would be an easier/faster commute to the Legacy area, especially since the 423 construction is still ongoing. The other community is a bit out there and is a further drive for certain amenities.

For schools, I'd probably rather send my kid to Little Elm ISD (Rivendale) than The Colony HS. Both honestly, both schools for these locations are meh. Not great, but not the worst.

What's your budget OP? If you are interested in houses in this area, could you look for homes zoned to Hebron HS? It's a much better high school, but the options may be limited based on your budget.

My budget is $280,000. I prefer newer construction homes. Looking for 3br/2bath within a 20minute commute to work. I do not have any children (27 y.o female), so schools are not a factor for me. However, I do want to consider them for resale purposes. This is definitely not going to be my long term/forever home (plan to stay between 4-6 years), so resale is very important to me as well as having access to amenities (running trails, grocery stores, gyms, highways, restaurants).

[TXNGL]

Originally Posted by Charlie and me

My budget is $280,000. I prefer newer construction homes. Looking for 3br/2bath within a 20minute commute to work. I do not have any children (27 y.o female), so schools are not a factor for me. However, I do want to consider them for resale purposes. This is definitely not going to be my long term/forever home (plan to stay between 4-6 years), so resale is very important to me as well as having access to amenities (running trails, grocery stores, gyms, highways, restaurants).

I'm not an agent but I do like to watch trends. When purchasing in exurb areas that still have land to build on, and will for quite a while, I would not be looking at appreciation unless I was staying at least ten years. I could be completely wrong, and I suppose it's anyone's guess.

[stephwin]

Originally Posted by Charlie and me

My budget is $280,000. I prefer newer construction homes. Looking for 3br/2bath within a 20minute commute to work. I do not have any children (27 y.o female), so schools are not a factor for me. However, I do want to consider them for resale purposes. This is definitely not going to be my long term/forever home (plan to stay between 4-6 years), so resale is very important to me as well as having access to amenities (running trails, grocery stores, gyms, highways, restaurants).

Based on that I'd probably pick the one in The Colony. If you pick a townhouse as opposed to a single family home, you will probably end up selling to someone in a similar situation to yours (younger, no kids, not all that concerned with school, etc.).

[jdallas]

Planning on 4-6 years in that area? That usually means 3-5. I would not recommend buying unless you are willing to accept a net loss.

[Charlie and me]

thanks for the advice all, but I am set on buying. Will be looking more into the colony area.

[HP48G]

Look at the Colony the closest to 121 as possible. Lots of new commercial development in that corridor. however the schools will limit appreciation potential and not sure new construction at that price is available in the area. The older established neighborhoods in 75010 seem like a better deal.