Help: building new home in Frisco (Dallas, Fort Worth: apartments, insurance, credit)
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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.
This is good advice. If there is any vacant land remotely close to your house, assume it will either be a bunch of other houses or some sort of commercial development. Decide if you can live with either of those being there. Eventually that land will no longer be empty.
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.
Are you saying a new build house won’t resale as well or I’d lose money for sure? If this house is planned for 10+ years, does that make a difference? I guess I’m confused since older houses are selling for 400+ in the same area and this new build, with upgrades I’d want, would cost 460-470K, why it’ll be a bad investment?
The Trails houses do pop up but none that would be my taste completely. I’d have to put in 20-30k more to fix it up to the way I like.
I’m comforted to know, though, that these schools are good.
Are you saying a new build house won’t resale as well or I’d lose money for sure? If this house is planned for 10+ years, does that make a difference? I guess I’m confused since older houses are selling for 400+ in the same area and this new build, with upgrades I’d want, would cost 460-470K, why it’ll be a bad investment?
The Trails houses do pop up but none that would be my taste completely. I’d have to put in 20-30k more to fix it up to the way I like.
I’m comforted to know, though, that these schools are good.
Yes a new house will not resale as well as an older home you brought. Why would anyone buy a home 1 or 2 years old if they can buy a new one for the same price?
New homes sell for a premium you need to compare the same square footage and lot size. The new home your looking at may actually have a smaller lot and be a cheaper build then the older home you are comparing. The 400k plus home is probably $550-$600k new. Your looking at a low priced neighborhood if it is under 500k new.
To compare the same neighborhood as the trails I would say you need to look at phillips creek. The neighborhood your looking at is more like Greyhawk homes. Hope this makes sense.
If you are looking at homes in Cottonwood creek compare greyhawk homes and heritage village to your prices. The trails is a better neighborhood then what your looking at and will not be as nice as the trails when built out.
The other thing I don't think that subdivision is located in the City of Frisco it actually Little Elm with Frisco ISD. That is a big difference and why it's much cheaper then other new builds in Frisco.
Last edited by frisco19542; 12-28-2017 at 10:00 AM..
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.
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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!
Welcome to the Forum!
I can speak to the new home process.
First, think of the things you can’t change, or that would be very difficult to change. Location within the development, builder reputation, lot size, location within the region, and so on. This structurally impacts your resale.
It sounds like you've already seen good advice about that, but it can't be said enough times. Don't choose a house that backs onto a noisy street, or is on the exterior of the development next to empty space or areas zoned for retail, or is directly in line with a street so you get headlights into the front rooms, or is next to a big electrical substation. Never choose a house that backs onto a freeway. Watch for things that would turn off resale buyers, such as electrical transmission lines and railroad tracks. Be careful about houses that back onto schools. Typically, builders will charge premiums for houses that back onto creeks, parks, or treelines, because people love that kind of semi-private feeling, but if you find a moderate premium, go for it.
Builders fall into a number of categories, but I simplify them into four groups - custom builders, semi-custom builders, production builders, and bulk builders. I'm from Arizona, and familiar with Meritage - I think of them as a production builder, but our realtor put them on the "be careful" list, along with a few others (Pulte was one that was surprising, because Pulte is considered a high-quality production builder in the Phoenix market). You won't be able to talk a production builder into varying their floorplans much, if at all; they will probably push back on simple things like framing changes. A semi-custom builder like American Legend will allow framing changes and other adjustments. A builder like M-I Homes is a high-quality production builder, so they'll have tons of options but won't usually do things like moving doors.
Second, think of the things that improve your quality of life while you're in the home. Most modern houses are built with post-tensioned slab foundations, which make plumbing changes difficult, so configure your house with everything you're going to want that will also support your resale value. Put in as many bathrooms as you possibly can. Put in a garage or laundry room utility sink. Think of electrical changes such as refrigerator power in the garage, a pre-wire for an electric car charging station, backyard jacuzzi power, and the like. Plan out where you may want exterior lights, or power in the soffits for holiday lights. Think about where you'll want exterior spot lights.
One thing about kitchen counters: granite is porous, and still needs to be sealed periodically. It's also subject to variations in grain and color that may not be apparent in the sample sizes they typically have at design centers. Quartz counters are superior in that they are manufactured to a visual standard - you want gray, you get gray; you want white, you get white - and are non-porous, so they don't require sealing. Because a counter upgrade costs maybe $2k-$4k over the typical upgraded granite cost, it becomes a non-brainer.
Raise the countertops in all of your bathrooms to at least 34"-35", because standard builder-grade may leave you with 32" counters that make every hand-washing moment like you're meeting a foreign dignitary. Don't bother with granite or upgraded counters in your bathrooms. Install comfort-height toilets in lieu of builder-grade. Think about your kitchen sink and whether the standard 60/40 two-dip sink is what you want - a single-dip sink may be more useful. Make sure you seriously consider the size of the cooktop - standard 30" cooktops are crowded for multiple pot cooking.
Third, think about things that will improve the utility of your home. Put in cable outlets everywhere you think you'll need them, and in bedrooms or public rooms consider putting them on both walls to allow furniture relocation - it's a lot cheaper and less disruptive to have a jack installed pre-drywall than it is to retrofit. Consider having the builder install cable jacks with wall power at 5' for wall-mount TVs. Consider adding a cable outlet to your patio if you think you'll be doing outdoor entertaining or hosting parties for sporting events. Consider whether you're going to want a security system with wired sensors (frequently these are included in standard configurations). Consider where you're going to put your kitchen trash can, and whether you want to get a trash drawer rather than having it out in the open. At the same time, be careful with kitchen appliance upgrades, which can be costly and not really change the utility of the kitchen.
Think about your closets and whether you want custom shelving. Don't bother with cabinets in the laundry room unless you really really really need them - you can always add them later if you need to. Think hard about whether you want hardware on your kitchen/bathroom cabinets (if you have full-overlay, you won't be able to avoid that), and watch out for things like full-house door handle or hardware upgrades where you add money without adding utility.
Remember that the trend now is toward wireless everything, so you don't necessarily need hard-wired security cameras or Cat5 wiring in every room, and you don't need to run hard wires for things like phone jacks. Don't bother with wired surround sound.
Think about what you're going to do with your windows. Make sure you install obscured glass in the bathrooms, and if your family is sensitive about privacy in the shower, obscure the glass on those enclosures as well. Consider a builder-install blinds or shutters package if you don't plan on doing drapes. Remember that blinds typically cost about $120-150 per window, and if they're installed before the home is completed, it'll be less disruptive.
Even better, except for the additional bathrooms, all of the things I've listed here are only going to add maybe $10k in options costs, or not much at all on a $450k house.
Also, think about landscaping. They may offer landscaping packages or other exterior options, but if they're not standard, check with landscaping companies to see if you can get something that suits your preferences and might save on costs. Think about whether you want a tornado safe room or a pool, and whether you can have those built with the house rather than added on afterward.
Spending on builder options should depend on how long you plan to go before major renovations. In most cases, builder choices are going to be durable, but not flashy, and everything wears out over time. The HGTV renovation shows create beautiful kitchens because they're high on craftsmanship and materials; almost no production builder kitchen is ever going to look like that. Even if you pay through the nose, you're going to get production builder quality.
I'd plan on doing a fairly substantial cleanup renovation after about 7-8 years, before things start breaking. So I'd think of $10k in options as $100 a month - if your mortgage with property taxes is going to be $3k, that's not much at all. Then you can do another cleanup renovation 3-4 years before you sell, and get the best bang per buck and quality of life out of your renovation money.
Yes a new house will not resale as well as an older home you brought. Why would anyone buy a home 1 or 2 years old if they can buy a new one for the same price?
New homes sell for a premium you need to compare the same square footage and lot size. The new home your looking at may actually have a smaller lot and be a cheaper build then the older home you are comparing. The 400k plus home is probably $550-$600k new. Your looking at a low priced neighborhood if it is under 500k new.
To compare the same neighborhood as the trails I would say you need to look at phillips creek. The neighborhood your looking at is more like Greyhawk homes. Hope this makes sense.
If you are looking at homes in Cottonwood creek compare greyhawk homes and heritage village to your prices. The trails is a better neighborhood then what your looking at and will not be as nice as the trails when built out.
The other thing I don't think that subdivision is located in the City of Frisco it actually Little Elm with Frisco ISD. That is a big difference and why it's much cheaper then other new builds in Frisco.
Oh okay, gotcha. Yeah, Cottonwood Creek is near it the Trails and there are trails that does connect. It’s a nice subdivision and the address is Frisco with Frisco ISD. But yeah, for new build, that’s the budget we’re looking at. We can’t afford Phillips Creek. Haha. That’s a nice area as well.
Oh, and two more things, doorways and accessibility.
If your builder gives you an option of standard doorways (typically 6'7") and taller doorways (8'), go taller. It makes the whole interior of the house feel more open, easier to walk through. Virtually all new homes have 10' or 11' ceilings, and the taller doors look way better with that ceiling height.
Also, most builder doorways use 33"-34" doors. Your builder may have given you a choice of interior door designs, like 2-panel or 5-panel. Ask your builder if you can get wider doorways if you might be accommodating family members with mobility challenges (wheelchairs or walkers). If they'll do that during framing, you'll benefit in a bunch of ways, even if it just makes it easier to move furniture through the house.
Plus, accessibility. Think about whether you'll have elderly guests using the showers, and whether you should set up one of your guest bathrooms as an ADA-compliant space, with walk-in shower, grab bars, and the like.
Oh okay, gotcha. Yeah, Cottonwood Creek is near it the Trails and there are trails that does connect. It’s a nice subdivision and the address is Frisco with Frisco ISD. But yeah, for new build, that’s the budget we’re looking at. We can’t afford Phillips Creek. Haha. That’s a nice area as well.
The address may say frisco but it is actually in Little Elm City Limits. That is a big difference and your values will move more with little elm then frisco. You need to look at little elm houses in Frisco ISD to compare.
Look at homes south of Main in Neighborhoods like Heritage Village Lone Star. You may find some stuff in pearson farms as well. All them are better then where you are looking. The houses your looking at was considered a major negative a few years ago for people in the trails.
Those homes will increase to be more in line with phillips creek and edgewood prices in a few years and where the real deals are in Frisco.
First, think of the things you can’t change, or that would be very difficult to change. Location within the development, builder reputation, lot size, location within the region, and so on. This structurally impacts your resale.
It sounds like you've already seen good advice about that, but it can't be said enough times. Don't choose a house that backs onto a noisy street, or is on the exterior of the development next to empty space or areas zoned for retail, or is directly in line with a street so you get headlights into the front rooms, or is next to a big electrical substation. Never choose a house that backs onto a freeway. Watch for things that would turn off resale buyers, such as electrical transmission lines and railroad tracks. Be careful about houses that back onto schools. Typically, builders will charge premiums for houses that back onto creeks, parks, or treelines, because people love that kind of semi-private feeling, but if you find a moderate premium, go for it.
Builders fall into a number of categories, but I simplify them into four groups - custom builders, semi-custom builders, production builders, and bulk builders. I'm from Arizona, and familiar with Meritage - I think of them as a production builder, but our realtor put them on the "be careful" list, along with a few others (Pulte was one that was surprising, because Pulte is considered a high-quality production builder in the Phoenix market). You won't be able to talk a production builder into varying their floorplans much, if at all; they will probably push back on simple things like framing changes. A semi-custom builder like American Legend will allow framing changes and other adjustments. A builder like M-I Homes is a high-quality production builder, so they'll have tons of options but won't usually do things like moving doors.
Second, think of the things that improve your quality of life while you're in the home. Most modern houses are built with post-tensioned slab foundations, which make plumbing changes difficult, so configure your house with everything you're going to want that will also support your resale value. Put in as many bathrooms as you possibly can. Put in a garage or laundry room utility sink. Think of electrical changes such as refrigerator power in the garage, a pre-wire for an electric car charging station, backyard jacuzzi power, and the like. Plan out where you may want exterior lights, or power in the soffits for holiday lights. Think about where you'll want exterior spot lights.
One thing about kitchen counters: granite is porous, and still needs to be sealed periodically. It's also subject to variations in grain and color that may not be apparent in the sample sizes they typically have at design centers. Quartz counters are superior in that they are manufactured to a visual standard - you want gray, you get gray; you want white, you get white - and are non-porous, so they don't require sealing. Because a counter upgrade costs maybe $2k-$4k over the typical upgraded granite cost, it becomes a non-brainer.
Raise the countertops in all of your bathrooms to at least 34"-35", because standard builder-grade may leave you with 32" counters that make every hand-washing moment like you're meeting a foreign dignitary. Don't bother with granite or upgraded counters in your bathrooms. Install comfort-height toilets in lieu of builder-grade. Think about your kitchen sink and whether the standard 60/40 two-dip sink is what you want - a single-dip sink may be more useful. Make sure you seriously consider the size of the cooktop - standard 30" cooktops are crowded for multiple pot cooking.
Third, think about things that will improve the utility of your home. Put in cable outlets everywhere you think you'll need them, and in bedrooms or public rooms consider putting them on both walls to allow furniture relocation - it's a lot cheaper and less disruptive to have a jack installed pre-drywall than it is to retrofit. Consider having the builder install cable jacks with wall power at 5' for wall-mount TVs. Consider adding a cable outlet to your patio if you think you'll be doing outdoor entertaining or hosting parties for sporting events. Consider whether you're going to want a security system with wired sensors (frequently these are included in standard configurations). Consider where you're going to put your kitchen trash can, and whether you want to get a trash drawer rather than having it out in the open. At the same time, be careful with kitchen appliance upgrades, which can be costly and not really change the utility of the kitchen.
Think about your closets and whether you want custom shelving. Don't bother with cabinets in the laundry room unless you really really really need them - you can always add them later if you need to. Think hard about whether you want hardware on your kitchen/bathroom cabinets (if you have full-overlay, you won't be able to avoid that), and watch out for things like full-house door handle or hardware upgrades where you add money without adding utility.
Remember that the trend now is toward wireless everything, so you don't necessarily need hard-wired security cameras or Cat5 wiring in every room, and you don't need to run hard wires for things like phone jacks. Don't bother with wired surround sound.
Think about what you're going to do with your windows. Make sure you install obscured glass in the bathrooms, and if your family is sensitive about privacy in the shower, obscure the glass on those enclosures as well. Consider a builder-install blinds or shutters package if you don't plan on doing drapes. Remember that blinds typically cost about $120-150 per window, and if they're installed before the home is completed, it'll be less disruptive.
Even better, except for the additional bathrooms, all of the things I've listed here are only going to add maybe $10k in options costs, or not much at all on a $450k house.
Also, think about landscaping. They may offer landscaping packages or other exterior options, but if they're not standard, check with landscaping companies to see if you can get something that suits your preferences and might save on costs. Think about whether you want a tornado safe room or a pool, and whether you can have those built with the house rather than added on afterward.
Spending on builder options should depend on how long you plan to go before major renovations. In most cases, builder choices are going to be durable, but not flashy, and everything wears out over time. The HGTV renovation shows create beautiful kitchens because they're high on craftsmanship and materials; almost no production builder kitchen is ever going to look like that. Even if you pay through the nose, you're going to get production builder quality.
I'd plan on doing a fairly substantial cleanup renovation after about 7-8 years, before things start breaking. So I'd think of $10k in options as $100 a month - if your mortgage with property taxes is going to be $3k, that's not much at all. Then you can do another cleanup renovation 3-4 years before you sell, and get the best bang per buck and quality of life out of your renovation money.
Good luck!
Oh wow! This is really helpful! Thank you so much for taking the time to write all this. I will definitely keep this in mind. My realtor said Meritage Homes is a good builder. Not great, but good for a production builder. I didn’t know your realtor put them in the “careful” list. May I ask if you know why? I’m happy with their floorplan and could live with the layout they have. I’m just more concern about their quality. Like will I have pumping issues or foundation issues before its time?
Again, thanks for all your suggestions. I definitely like the one regarding counter height for bathrooms. I didn’t even think about that.
The address may say frisco but it is actually in Little Elm City Limits. That is a big difference and your values will move more with little elm then frisco. You need to look at little elm houses in Frisco ISD to compare.
Look at homes south of Main in Neighborhoods like Heritage Village Lone Star. You may find some stuff in pearson farms as well. All them are better then where you are looking. The houses your looking at was considered a major negative a few years ago for people in the trails.
Those homes will increase to be more in line with phillips creek and edgewood prices in a few years and where the real deals are in Frisco.
How do you know it’s in Little Elm city limit? Is there a way to find out? From everything I was told, it’s in Frisco with a Frisco ISD. It’s part of Denton county, but most of houses on the Trails is part of Denton county. Is that what you’re talking about? I guess I don’t know how you find out that it’s part of Little Elm. I was specifically told it’s Frisco. Also, do you know why that area is problematic for ppl at the Trails? I thought it looked seamlessly with the community so I’m not farmiliar with the particular problem. Thanks.
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