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Hi, this is my first time posting here. We’re thinking of building a Meritage home in Frisco in the Cottonwood Creek subdivision. It’s close to the Trails. I have a few questions and would love to get your opinions.
1. The schools zoned are Corbell Elementary, Cobb MS and Lone Star HS. What do you guys think about those schools? I have a child that would start school in a few years and this home will be our 18+ years home. While GreatSchools still rank these schools fairly good, I’m just more concern since they are lacking compared to the rest of the schools in the district.
2. All said and done, the house is going to cost us 460-470K. About $145 per sqft. Since it would be a house we’ll live in for a long time, I wanted to get a new house so there’s less maintenance and it’ll be how I like it. The builder is giving us 34K at the design center. Does this look like a solid investment? I’m just worried about resale value.
3. I know Frisco rezone their schools like crazy, but is there a chance they’d rezone the house to Little Elm ISD since it’s close to Little Elm?
4. Does anybody have experience with Meritage Homes? They seem to be a solid builder. Not the best but not the worst, but could I trust that they’d build me a good home?
5. Lastly, what would you guys suggest upgrading at the design center?
Sorry for all the questions. This is our first time building a house and I’m kind of nervous. It’s not our first house but since this is the house that will count, I want to make a solid investment. Thanks for your help!
If you buy a new house you will be not be able to resell it for the same price until the housing market goes higher. Take 5% -10% off the price for resale if you need to resell in the next 5 years.
If you stay more then 5 years you will be ok. The better deals out there are existing homes. You know what your buying and can see if there is any issues with the built. Building is more risky then a house that it 5-10 years old because some problems take a few years to come up. You also have no idea of who your neighbors are.
Get a realtor and shop homes built in the last 10 years you can save 100-200k and use the extra money to update the house the way you like it.
1. I wouldn’t worry about the schools. They’re good. While FriscoISD rezones within the district, you’re not going to see a district boundary move. I’d worry more about the debt load that district has and how it’ll impact your taxes.
2. Nobody has a crystal ball - can’t predict resale. 460 seems about right, but you never know with new builds. 34K in concessions tells me they’re not selling very quickly right now and they’re trying to keep the prices propped up until spring.
3. Do anything structural, and tile. Fixtures and counters are easily replaced down the road. Tile is a ***** to remove if you change it later.
Thanks for responding. I’ve shopped around for existing homes and for the area/house I like, I’m looking at 400K plus. More likely 430k and it won’t be exactly the way I’d like it. I’d have to do some remodeling along the way. This is one of the reasons why we decide to build. Since we’re planning this to be a 18+ years home, I guess I’m more worried about whether it’s a good location for future resale.
Thanks for responding. I’ve shopped around for existing homes and for the area/house I like, I’m looking at 400K plus. More likely 430k and it won’t be exactly the way I’d like it. I’d have to do some remodeling along the way. This is one of the reasons why we decide to build. Since we’re planning this to be a 18+ years home, I guess I’m more worried about whether it’s a good location for future resale.
If your looking for resale value lot size and sq footage will be the long term things you need o focus on. Having said that never buy the most expensive home a builder has because you will lose your shirt. Most new homes in else are actually overpriced and will level out to the same a older homes because the lots are a lot smaller.
Look at actual tile stores like floor and decor and what tile actually costs. Most builders put in cheap tile and flooring and appliances. You can easily save 100k on a home in the price your paying. That 100k means you also save about 2k a year in property taxes. Your probably paying about 20k a year to own the new home if you take in the loss of equity.
1. I wouldn’t worry about the schools. They’re good. While FriscoISD rezones within the district, you’re not going to see a district boundary move. I’d worry more about the debt load that district has and how it’ll impact your taxes.
2. Nobody has a crystal ball - can’t predict resale. 460 seems about right, but you never know with new builds. 34K in concessions tells me they’re not selling very quickly right now and they’re trying to keep the prices propped up until spring.
3. Do anything structural, and tile. Fixtures and counters are easily replaced down the road. Tile is a ***** to remove if you change it later.
Thanks for responding!
1. Okay, thanks for letting me know. I was worried about rezoning boundary lines and the lower score in the elementary and high school. While they’re still above state average, they’re a bit below district average. I’m more worried in the future if the schools will become bad. I admit I’m more ignorant when it comes to projecting schools. This is our first child and I find I now worry about good schools. I guess I don’t know how often would a school in Frisco ISD suddenly become undesirable.
2. I was told Meritage Homes give a 30K in design center once every year in Dec. I suspect it’s to help their end of year numbers. The 4K extra I was able to negotiate cause of the lot. They have since increased their price by 2K. Also, they’re projected to fill up the subdivision by next spring. Or so I’m told, although the lots were taken pretty fast while we were there. Since most of the subdivision is built already, it’s reasonale to believe that they’ll all be build by next year.
3. The 460-470k is including the structural change I wanted to make, which is a second bath upstairs and covered patio. I want to spend the bulk on hardwood the entire house except for bathrooms and utility room. I’ve lived in houses with carpets and they need to be changed every 10 years, and the process is such a pain in the butt. I also want quartz kitchen countertop, which i read is better long term. Is there anything else that you fill I should get?
1. Okay, thanks for letting me know. I was worried about rezoning boundary lines and the lower score in the elementary and high school. While they’re still above state average, they’re a bit below district average. I’m more worried in the future if the schools will become bad. I admit I’m more ignorant when it comes to projecting schools. This is our first child and I find I now worry about good schools. I guess I don’t know how often would a school in Frisco ISD suddenly become undesirable.
2. I was told Meritage Homes give a 30K in design center once every year in Dec. I suspect it’s to help their end of year numbers. The 4K extra I was able to negotiate cause of the lot. They have since increased their price by 2K. Also, they’re projected to fill up the subdivision by next spring. Or so I’m told, although the lots were taken pretty fast while we were there. Since most of the subdivision is built already, it’s reasonale to believe that they’ll all be build by next year.
3. The 460-470k is including the structural change I wanted to make, which is a second bath upstairs and covered patio. I want to spend the bulk on hardwood the entire house except for bathrooms and utility room. I’ve lived in houses with carpets and they need to be changed every 10 years, and the process is such a pain in the butt. I also want quartz kitchen countertop, which i read is better long term. Is there anything else that you fill I should get?
Make sure you don't pick a lot that backs up to a busy road or a big empty lot. The builders might tell you it's for "Phase II" or whatever but you don't want to be standing in your yard in 5 years' time, watching helplessly as a brand-new Wal-Mart or Home Depot goes up and your property value goes down. Be careful with that. I know a lady in the exurbs who sold her "dream house" when the empty lot behind her house was built on. I want to say it was an office park...can't remember...but I do remember she was very upset that "nobody told her."
If your looking for resale value lot size and sq footage will be the long term things you need o focus on. Having said that never buy the most expensive home a builder has because you will lose your shirt. Most new homes in else are actually overpriced and will level out to the same a older homes because the lots are a lot smaller.
Look at actual tile stores like floor and decor and what tile actually costs. Most builders put in cheap tile and flooring and appliances. You can easily save 100k on a home in the price your paying. That 100k means you also save about 2k a year in property taxes. Your probably paying about 20k a year to own the new home if you take in the loss of equity.
The house we’re thinking of building is mid-price in that subdivision. So definitely not the cheapest or most expensive in the neighborhood. Like I mentioned, for the area and house I actually like, it’s around 430K for pre-existing. I like the Trails neigherhood a lot. You know that good feeling you have while going into a certain neigherhood that makes you imagine yourself with your family walking the streets? That’s how I feel when I drive by the Trails. But the houses there are not cheap so for a little more, we could build a new house and hopefully not have to worry about maintenance for awhile.
While I know I would save some money with pre-existing, I’ve looked and considered and for our family situation, I believe we’d get better use out of new built. My concern is just the builder, the schools, the location for future resale and what to get in the design center.
Make sure you don't pick a lot that backs up to a busy road or a big empty lot. The builders might tell you it's for "Phase II" or whatever but you don't want to be standing in your yard in 5 years' time, watching helplessly as a brand-new Wal-Mart or Home Depot goes up and your property value goes down. Be careful with that. I know a lady in the exurbs who sold her "dream house" when the empty lot behind her house was built on. I want to say it was an office park...can't remember...but I do remember she was very upset that "nobody told her."
Point is, you never know. So choose wisely.
Thanks for the info! This particular subdivision is located between the Trails neigherhood and a church. There’s a trail/park being developed on one side. It’s been approved and planned by the city. The lot we’re building is backed up to an existing trail so I feel good about that.
The house we’re thinking of building is mid-price in that subdivision. So definitely not the cheapest or most expensive in the neighborhood. Like I mentioned, for the area and house I actually like, it’s around 430K for pre-existing. I like the Trails neigherhood a lot. You know that good feeling you have while going into a certain neigherhood that makes you imagine yourself with your family walking the streets? That’s how I feel when I drive by the Trails. But the houses there are not cheap so for a little more, we could build a new house and hopefully not have to worry about maintenance for awhile.
While I know I would save some money with pre-existing, I’ve looked and considered and for our family situation, I believe we’d get better use out of new built. My concern is just the builder, the schools, the location for future resale and what to get in the design center.
Frisco Schools are good and will be better then the other areas for a long time to come. If your worried about resale you should never buy a new home from a builder. If you like the trails be patient more homes will come up for sale.
Another thing to watch for with builders is they will show you a model home but the actual build will use much cheaper cabinets, fixtures and flooring. Had a friend buy in Phillips creek and the home they built looked nothing like the model home they looked at. This is important because if you build with all the upgrades you will have ended up over building for your neighborhood and will never get the same money back. I seen cases where the model home is 100k more then what your actually getting. Also go look at homes in neighborhoods the builder built in the past. This will tell you a lot about the home you are actually buying.
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