04-16-2019, 08:34 AM
22 posts, read
16,363 times
Reputation: 51
Our first home was a tract home in the burbs of Forney; we got to pick a lot in the neighborhood, pick a floor plan & elevation and general selections like cabinet color, tile color, etc. but was in no way custom.
Fast forward 10+ years and we are now ready to build a custom home. A few years ago we decided this was the route we wanted to go so we bought a vacant lot (which is paid off) and have saved for a down payment and now we are ready to build.
I'll admit, we didn't pay much attention to our first home. We were young, naive, and excited to own a home and didn't think about much else. Now, we are older and wiser
we want quality over quantity (and when I say quality I don't mean extravagant, just SMART investments to the building envelope).
The "issue" is some of the other houses in the neighborhood are "builder grade plus" and they are valued around $450k (without a pool) (this breaks down to a $365k house on a $85k lot).
My question is, we begin to wonder is building a house that is valued at $650k (with a pool) (and before you say anything, I KNOW a pool won't retain value, that is only for us
...so let's say a $500k house plus a $65k pool and $85k lot) be too much "overbuilding" for the neighborhood?
We don't want to sacrifice quality but also don't want to be too nice for the neighborhood. Setting aside the pool, the house itself will be the same size as everyone else on the block - around 3,000 sq ft - but will be about $135k more for better quality (sheathing/wrb/flashing, insulation, windows, roofing, etc.).
Thoughts?
04-16-2019, 02:13 PM
Location: Fort Worth, TX
2,502 posts, read
2,172,438 times
Reputation: 3784
Why are set on the location?
04-16-2019, 02:29 PM
13,194 posts, read
28,098,013 times
Reputation: 13124
Yes, spending 40% more per square foot is overbuilding. If you need to sell, you’re going to be looking for the “needle in a haystack” buyer who will value quality over more space for being in your neighborhood at that price point. If you truly believe it’s your forever home, then go for it, just know the risks.
If I were you, I would probably wait until the next recession to build. You’ll likely be able to come in below budget on labor and some materials while not sacrificing the details you want.
04-16-2019, 06:03 PM
Location: Dallas
206 posts, read
167,966 times
Reputation: 294
In our neighborhood, houses were going for around $150 per square foot when we bought a place to tear down and build. With the purchase, the new build, and the landscaping we probably put $250 per square into the finished product. The neighborhood values have caught up to us now. But if they hadn’t we didn’t care. It’s not an investment. It’s our dream house.
04-16-2019, 10:09 PM
Location: Fort Worth, TX
2,502 posts, read
2,172,438 times
Reputation: 3784
Quote:
Originally Posted by
Cd225
In our neighborhood, houses were going for around $150 per square foot when we bought a place to tear down and build. With the purchase, the new build, and the landscaping we probably put $250 per square into the finished product. The neighborhood values have caught up to us now. But if they hadn’t we didn’t care. It’s not an investment. It’s our dream house.
We thought we had bought our dream house and even joked about being buried in the backyard. I dreamed of hosting one of my kid's rehearsal dinner there someday. It was a very unique house that had a limited appeal for many buyers but we loved it. A decade after we bought the house, events we couldn't have anticipated when we bought the house led to us putting the house on the market. It took us two years to sell it and we tried just about everything we could. We finally sold it yesterday and we took a bath on it.
04-16-2019, 10:42 PM
Location: DFW
40,919 posts, read
48,833,863 times
Reputation: 54900
You are about to lose your Azz to be blunt. Build that expensive home and live in it the next 25 years because you won't get your money back. When a subdivision is $500-600k, only a fool would pay you $700-750 for that house. I have a client now who over built. They're eating $125k by the time you throw in the pool they spent way too much on.
Right up the hill from me there is a Subdivsion that is $400-$650k. Some crazy fool built a $1.7 million house. He has to be some Relo from CA. He's now got it for sell and it will never sell. He started out at $1.95 million and has lowered the price $200k. Quite a good deal.
04-16-2019, 10:57 PM
Location: Dallas
206 posts, read
167,966 times
Reputation: 294
Quote:
Originally Posted by
tcualum
We thought we had bought our dream house and even joked about being buried in the backyard. I dreamed of hosting one of my kid's rehearsal dinner there someday. It was a very unique house that had a limited appeal for many buyers but we loved it. A decade after we bought the house, events we couldn't have anticipated when we bought the house led to us putting the house on the market. It took us two years to sell it and we tried just about everything we could. We finally sold it yesterday and we took a bath on it.
For us, we’ll never feel like we lost money on the deal. We bought a house for $75,000 and sold it 25 years later for $400,000. It feels like getting our $500,000 house for $175,000. And now the city thinks it’s worth $600,000. There’s no way I’ll be sad about what we get for this house. It will take a special buyer that could be hard to find. But the real estate world has been very kind to us.
04-17-2019, 08:35 AM
22 posts, read
16,363 times
Reputation: 51
Thanks for everyone's opinions. We are set on this lot because we already bought it 😉 honestly though we love the area, it's 0.30 acres (which is much larger than our tract home), and there is NO HOA!!
Just out of curiosity, I wonder why people don't value quality in homes and why they aren't willing to pay more for it? I get that everyone has a budget, but putting that aside, I would be willing to pay more for a house that is better built, will heat and cool better, not have water infiltration from cheap wrapping materials or improperly taped windows, etc. I guess we will just have to go in knowing that we are looking for the right buyer who knows true quality, not just white cabinets and granite countertops 🤣
Thanks again everyone for taking the time to respond!
04-17-2019, 08:43 AM
Location: Fort Worth, TX
2,502 posts, read
2,172,438 times
Reputation: 3784
Honestly, the why doesn't matter in the end. I've learned the hard way that these days that people want new and shiny with the latest trends. I had a beautiful older home on 3/4 of an acre on a wooded lot with a beautiful view, in a quiet high-end neighborhood. I was competing with a brand new neighborhood that had all sorts of bells and whistles. The houses were much smaller, not as well built and were on much smaller lots with no mature trees. Furthermore, the entire neighborhood was built on a bloody landfill. across the street from a functioning landfill. None of that mattered because the homes are shiny and new.
04-17-2019, 08:55 AM
5,248 posts, read
6,333,260 times
Reputation: 6216
Quote:
I get that everyone has a budget, but putting that aside, I would be willing to pay more for a house that is better built, will heat and cool better, not have water infiltration from cheap wrapping materials or improperly taped windows, etc.
If you really think it's going to be built that much better (I personally have my doubts) then you should be able to show that in either electricity costs or in maintenance costs to your next buyer. An electric bills that's below $100 or whatever in the summer will interest buyers. Don't whine that no one respects your build quality - you had better be able to show it. And if you can't then your build quality really isn't that much better no matter what you think about other tract homes in your area.
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Occupied housing units (%)
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Median number of rooms in houses and condos
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Urban houses (%)
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Geographical mobility - Same house 1 year ago (%)
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Place of birth - Born in state of residence (%)
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Housing units in structures - 1, detached (%)
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Housing units in structures - 50 or more (%)
Housing units in structures - Mobile home (%)
Housing units in structures - Boat, RV, van, etc. (%)
House/condo owner moved in on average (years ago)
Renter moved in on average (years ago)
Year householder moved into unit - Moved in 1999 to March 2000 (%)
Year householder moved into unit - Moved in 1995 to 1998 (%)
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Means of transportation to work - Drove car alone (%)
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Means of transportation to work - Motorcycle (%)
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Working at home (%)
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Most Common Occupations - Food preparation and serving related occupations (%)
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Most Common Occupations - Sales and related occupations (%)
Most Common Occupations - Office and administrative support occupations (%)
Most Common Occupations - Natural resources, construction, and maintenance occupations (%)
Most Common Occupations - Farming, fishing, and forestry occupations (%)
Most Common Occupations - Construction and extraction occupations (%)
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Most Common Occupations - Production, transportation, and material moving occupations (%)
Most Common Occupations - Production occupations (%)
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People in Group quarters - Institutionalized population (%)
People in Group quarters - Correctional institutions (%)
People in Group quarters - Federal prisons and detention centers (%)
People in Group quarters - Halfway houses (%)
People in Group quarters - Local jails and other confinement facilities (including police lockups) (%)
People in Group quarters - Military disciplinary barracks (%)
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People in Group quarters - Nursing homes (%)
People in Group quarters - Hospitals/wards, hospices, and schools for the handicapped (%)
People in Group quarters - Hospitals/wards and hospices for chronically ill (%)
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People in Group quarters - Military hospitals or wards for chronically ill (%)
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People in Group quarters - Schools, hospitals, or wards for the mentally retarded (%)
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People in Group quarters - Institutions for the deaf (%)
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People in Group quarters - Orthopedic wards and institutions for the physically handicapped (%)
People in Group quarters - Wards in general hospitals for patients who have no usual home elsewhere (%)
People in Group quarters - Wards in military hospitals for patients who have no usual home elsewhere (%)
People in Group quarters - Juvenile institutions (%)
People in Group quarters - Long-term care (%)
People in Group quarters - Homes for abused, dependent, and neglected children (%)
People in Group quarters - Residential treatment centers for emotionally disturbed children (%)
People in Group quarters - Training schools for juvenile delinquents (%)
People in Group quarters - Short-term care, detention or diagnostic centers for delinquent children (%)
People in Group quarters - Type of juvenile institution unknown (%)
People in Group quarters - Noninstitutionalized population (%)
People in Group quarters - College dormitories (includes college quarters off campus) (%)
People in Group quarters - Military quarters (%)
People in Group quarters - On base (%)
People in Group quarters - Barracks, unaccompanied personnel housing (UPH), (Enlisted/Officer), ;and similar group living quarters for military personnel (%)
People in Group quarters - Transient quarters for temporary residents (%)
People in Group quarters - Military ships (%)
People in Group quarters - Group homes (%)
People in Group quarters - Homes or halfway houses for drug/alcohol abuse (%)
People in Group quarters - Homes for the mentally ill (%)
People in Group quarters - Homes for the mentally retarded (%)
People in Group quarters - Homes for the physically handicapped (%)
People in Group quarters - Other group homes (%)
People in Group quarters - Religious group quarters (%)
People in Group quarters - Dormitories (%)
People in Group quarters - Agriculture workers' dormitories on farms (%)
People in Group quarters - Job Corps and vocational training facilities (%)
People in Group quarters - Other workers' dormitories (%)
People in Group quarters - Crews of maritime vessels (%)
People in Group quarters - Other nonhousehold living situations (%)
People in Group quarters - Other noninstitutional group quarters (%)
Residents speaking English at home (%)
Residents speaking English at home - Born in the United States (%)
Residents speaking English at home - Native, born elsewhere (%)
Residents speaking English at home - Foreign born (%)
Residents speaking Spanish at home (%)
Residents speaking Spanish at home - Born in the United States (%)
Residents speaking Spanish at home - Native, born elsewhere (%)
Residents speaking Spanish at home - Foreign born (%)
Residents speaking other language at home (%)
Residents speaking other language at home - Born in the United States (%)
Residents speaking other language at home - Native, born elsewhere (%)
Residents speaking other language at home - Foreign born (%)
Class of Workers - Employee of private company (%)
Class of Workers - Self-employed in own incorporated business (%)
Class of Workers - Private not-for-profit wage and salary workers (%)
Class of Workers - Local government workers (%)
Class of Workers - State government workers (%)
Class of Workers - Federal government workers (%)
Class of Workers - Self-employed workers in own not incorporated business and Unpaid family workers (%)
House heating fuel used in houses and condos - Utility gas (%)
House heating fuel used in houses and condos - Bottled, tank, or LP gas (%)
House heating fuel used in houses and condos - Electricity (%)
House heating fuel used in houses and condos - Fuel oil, kerosene, etc. (%)
House heating fuel used in houses and condos - Coal or coke (%)
House heating fuel used in houses and condos - Wood (%)
House heating fuel used in houses and condos - Solar energy (%)
House heating fuel used in houses and condos - Other fuel (%)
House heating fuel used in houses and condos - No fuel used (%)
House heating fuel used in apartments - Utility gas (%)
House heating fuel used in apartments - Bottled, tank, or LP gas (%)
House heating fuel used in apartments - Electricity (%)
House heating fuel used in apartments - Fuel oil, kerosene, etc. (%)
House heating fuel used in apartments - Coal or coke (%)
House heating fuel used in apartments - Wood (%)
House heating fuel used in apartments - Solar energy (%)
House heating fuel used in apartments - Other fuel (%)
House heating fuel used in apartments - No fuel used (%)
Armed forces status - In Armed Forces (%)
Armed forces status - Civilian (%)
Armed forces status - Civilian - Veteran (%)
Armed forces status - Civilian - Nonveteran (%)
Fatal accidents locations in years 2005-2021
Fatal accidents locations in 2005
Fatal accidents locations in 2006
Fatal accidents locations in 2007
Fatal accidents locations in 2008
Fatal accidents locations in 2009
Fatal accidents locations in 2010
Fatal accidents locations in 2011
Fatal accidents locations in 2012
Fatal accidents locations in 2013
Fatal accidents locations in 2014
Fatal accidents locations in 2015
Fatal accidents locations in 2016
Fatal accidents locations in 2017
Fatal accidents locations in 2018
Fatal accidents locations in 2019
Fatal accidents locations in 2020
Fatal accidents locations in 2021
Alcohol use - People drinking some alcohol every month (%)
Alcohol use - People not drinking at all (%)
Alcohol use - Average days/month drinking alcohol
Alcohol use - Average drinks/week
Alcohol use - Average days/year people drink much
Audiometry - Average condition of hearing (%)
Audiometry - People that can hear a whisper from across a quiet room (%)
Audiometry - People that can hear normal voice from across a quiet room (%)
Audiometry - Ears ringing, roaring, buzzing (%)
Audiometry - Had a job exposure to loud noise (%)
Audiometry - Had off-work exposure to loud noise (%)
Blood Pressure & Cholesterol - Has high blood pressure (%)
Blood Pressure & Cholesterol - Checking blood pressure at home (%)
Blood Pressure & Cholesterol - Frequently checking blood cholesterol (%)
Blood Pressure & Cholesterol - Has high cholesterol level (%)
Consumer Behavior - Money monthly spent on food at supermarket/grocery store
Consumer Behavior - Money monthly spent on food at other stores
Consumer Behavior - Money monthly spent on eating out
Consumer Behavior - Money monthly spent on carryout/delivered foods
Consumer Behavior - Income spent on food at supermarket/grocery store (%)
Consumer Behavior - Income spent on food at other stores (%)
Consumer Behavior - Income spent on eating out (%)
Consumer Behavior - Income spent on carryout/delivered foods (%)
Current Health Status - General health condition (%)
Current Health Status - Blood donors (%)
Current Health Status - Has blood ever tested for HIV virus (%)
Current Health Status - Left-handed people (%)
Dermatology - People using sunscreen (%)
Diabetes - Diabetics (%)
Diabetes - Had a blood test for high blood sugar (%)
Diabetes - People taking insulin (%)
Diet Behavior & Nutrition - Diet health (%)
Diet Behavior & Nutrition - Milk product consumption (# of products/month)
Diet Behavior & Nutrition - Meals not home prepared (#/week)
Diet Behavior & Nutrition - Meals from fast food or pizza place (#/week)
Diet Behavior & Nutrition - Ready-to-eat foods (#/month)
Diet Behavior & Nutrition - Frozen meals/pizza (#/month)
Drug Use - People that ever used marijuana or hashish (%)
Drug Use - Ever used hard drugs (%)
Drug Use - Ever used any form of cocaine (%)
Drug Use - Ever used heroin (%)
Drug Use - Ever used methamphetamine (%)
Health Insurance - People covered by health insurance (%)
Kidney Conditions-Urology - Avg. # of times urinating at night
Medical Conditions - People with asthma (%)
Medical Conditions - People with anemia (%)
Medical Conditions - People with psoriasis (%)
Medical Conditions - People with overweight (%)
Medical Conditions - Elderly people having difficulties in thinking or remembering (%)
Medical Conditions - People who ever received blood transfusion (%)
Medical Conditions - People having trouble seeing even with glass/contacts (%)
Medical Conditions - People with arthritis (%)
Medical Conditions - People with gout (%)
Medical Conditions - People with congestive heart failure (%)
Medical Conditions - People with coronary heart disease (%)
Medical Conditions - People with angina pectoris (%)
Medical Conditions - People who ever had heart attack (%)
Medical Conditions - People who ever had stroke (%)
Medical Conditions - People with emphysema (%)
Medical Conditions - People with thyroid problem (%)
Medical Conditions - People with chronic bronchitis (%)
Medical Conditions - People with any liver condition (%)
Medical Conditions - People who ever had cancer or malignancy (%)
Mental Health - People who have little interest in doing things (%)
Mental Health - People feeling down, depressed, or hopeless (%)
Mental Health - People who have trouble sleeping or sleeping too much (%)
Mental Health - People feeling tired or having little energy (%)
Mental Health - People with poor appetite or overeating (%)
Mental Health - People feeling bad about themself (%)
Mental Health - People who have trouble concentrating on things (%)
Mental Health - People moving or speaking slowly or too fast (%)
Mental Health - People having thoughts they would be better off dead (%)
Oral Health - Average years since last visit a dentist
Oral Health - People embarrassed because of mouth (%)
Oral Health - People with gum disease (%)
Oral Health - General health of teeth and gums (%)
Oral Health - Average days a week using dental floss/device
Oral Health - Average days a week using mouthwash for dental problem
Oral Health - Average number of teeth
Pesticide Use - Households using pesticides to control insects (%)
Pesticide Use - Households using pesticides to kill weeds (%)
Physical Activity - People doing vigorous-intensity work activities (%)
Physical Activity - People doing moderate-intensity work activities (%)
Physical Activity - People walking or bicycling (%)
Physical Activity - People doing vigorous-intensity recreational activities (%)
Physical Activity - People doing moderate-intensity recreational activities (%)
Physical Activity - Average hours a day doing sedentary activities
Physical Activity - Average hours a day watching TV or videos
Physical Activity - Average hours a day using computer
Physical Functioning - People having limitations keeping them from working (%)
Physical Functioning - People limited in amount of work they can do (%)
Physical Functioning - People that need special equipment to walk (%)
Physical Functioning - People experiencing confusion/memory problems (%)
Physical Functioning - People requiring special healthcare equipment (%)
Prescription Medications - Average number of prescription medicines taking
Preventive Aspirin Use - Adults 40+ taking low-dose aspirin (%)
Reproductive Health - Vaginal deliveries (%)
Reproductive Health - Cesarean deliveries (%)
Reproductive Health - Deliveries resulted in a live birth (%)
Reproductive Health - Pregnancies resulted in a delivery (%)
Reproductive Health - Women breastfeeding newborns (%)
Reproductive Health - Women that had a hysterectomy (%)
Reproductive Health - Women that had both ovaries removed (%)
Reproductive Health - Women that have ever taken birth control pills (%)
Reproductive Health - Women taking birth control pills (%)
Reproductive Health - Women that have ever used Depo-Provera or injectables (%)
Reproductive Health - Women that have ever used female hormones (%)
Sexual Behavior - People 18+ that ever had sex (vaginal, anal, or oral) (%)
Sexual Behavior - Males 18+ that ever had vaginal sex with a woman (%)
Sexual Behavior - Males 18+ that ever performed oral sex on a woman (%)
Sexual Behavior - Males 18+ that ever had anal sex with a woman (%)
Sexual Behavior - Males 18+ that ever had any sex with a man (%)
Sexual Behavior - Females 18+ that ever had vaginal sex with a man (%)
Sexual Behavior - Females 18+ that ever performed oral sex on a man (%)
Sexual Behavior - Females 18+ that ever had anal sex with a man (%)
Sexual Behavior - Females 18+ that ever had any kind of sex with a woman (%)
Sexual Behavior - Average age people first had sex
Sexual Behavior - Average number of female sex partners in lifetime (males 18+)
Sexual Behavior - Average number of female vaginal sex partners in lifetime (males 18+)
Sexual Behavior - Average age people first performed oral sex on a woman (18+)
Sexual Behavior - Average number of woman performed oral sex on in lifetime (18+)
Sexual Behavior - Average number of male sex partners in lifetime (males 18+)
Sexual Behavior - Average number of male anal sex partners in lifetime (males 18+)
Sexual Behavior - Average age people first performed oral sex on a man (18+)
Sexual Behavior - Average number of male oral sex partners in lifetime (18+)
Sexual Behavior - People using protection when performing oral sex (%)
Sexual Behavior - Average number of times people have vaginal or anal sex a year
Sexual Behavior - People having sex without condom (%)
Sexual Behavior - Average number of male sex partners in lifetime (females 18+)
Sexual Behavior - Average number of male vaginal sex partners in lifetime (females 18+)
Sexual Behavior - Average number of female sex partners in lifetime (females 18+)
Sexual Behavior - Circumcised males 18+ (%)
Sleep Disorders - Average hours sleeping at night
Sleep Disorders - People that has trouble sleeping (%)
Smoking-Cigarette Use - People smoking cigarettes (%)
Taste & Smell - People 40+ having problems with smell (%)
Taste & Smell - People 40+ having problems with taste (%)
Taste & Smell - People 40+ that ever had wisdom teeth removed (%)
Taste & Smell - People 40+ that ever had tonsils teeth removed (%)
Taste & Smell - People 40+ that ever had a loss of consciousness because of a head injury (%)
Taste & Smell - People 40+ that ever had a broken nose or other serious injury to face or skull (%)
Taste & Smell - People 40+ that ever had two or more sinus infections (%)
Weight - Average height (inches)
Weight - Average weight (pounds)
Weight - Average BMI
Weight - People that are obese (%)
Weight - People that ever were obese (%)
Weight - People trying to lose weight (%)