Areas to build / tear downs (Dallas, Plano: sale, HOA, how much)

[adab]

I’ve been uninspired with the homes in Plano/Allen/McKinney. It’s bad enough that the exteriors all are the same, the interior typically have the same floor plan. I’m looking for a floor plan where the primary is on the same level as at least two secondary bedrooms (preferably on the second floor). This is like looking for a unicorn. There are some single story homes that could work but usually not big enough.

As such I’m looking to build. I’m thinking about the northern burbs, it seems like Richardson has the best option for tear downs. Are any you of aware of neighborhoods in Plano, Allen, or McKinney that allow new construction? I’d imagine if there is no HOA, this would be a possibility.

[ChristieP]

Second-floor master bedroom plans here tend to be less desirable and have lower resale. That's why you're not finding them.

[TheOverdog]

What do you mean 'allow new construction'? All the neighborhoods in those cities allow you to tear down and rebuild.


There's a teardown/rebuild currently in progress in Plano on the corner of Westwood and Westbrook. There are mutliple teardowns in Central Plano.



Most of the homes in Richardson on Custer north of Campbell were torn down and rebuilt. Drive it sometime - it's one of the nicest neighborhoods in the northern suburbs. It has a park with a cool waterfall.



There is new construction on Coit Road in Dallas/Plano/Richardson, Plano Parkway, Campbell Road in Richardson, and others nearby.

[mastershake575]

Originally Posted by TheOverdog

Most of the homes in Richardson on Custer north of Campbell were torn down and rebuilt. Drive it sometime - it's one of the nicest neighborhoods in the northern suburbs. It has a park with a cool waterfall.

Yeah Canyon Creek country club and the adjacent subdivision Prairie Creek. The area around JJ Pearce (Reservation/mohawk) is tear down city as well. It was around 2016/2017 that Richardson basically completely eased all of the restrictions on tear downs and since then those 3 areas have had like 8-12 tear downs a year for the last 5-6 years.

[rabbit33]

What OP's probably not aware of is that, in many neighborhoods, depending on lot value, lots suitable for teardowns don't even make it to the open market. Builders and realtors specializing in a particular neighborhood keep their ears to the ground. When they see, for example, the elderly resident with a moving van in front, they swoop in. Realtor offers the seller a cash deal, no contingencies, no inspections, and pockets the commish on that sale. Builder builds new house, the realtor that managed the first sale gets the listing on the second sale, and gets at least the split commish on that one too. And in really hot neighborhoods, that realtor already has a list of customers waiting for houses, so she gets the full commish on the second sale if the buyers don't feel the need to have their own agent (and in these areas, buyers tend to be cash buyers and with considerable experience, so they often don't feel the need for hand-holding through the process).

So the idea that you're just going to waltz in, buy a lot, scrape the house, build your own, is likely not to work so well when there are four of five agents and four or five builders that already know every lot in the subdivision, who owns it, and are already in every owner's Rolodex.

[mastershake575]

Originally Posted by rabbit33

What OP's probably not aware of is that, in many neighborhoods, depending on lot value, lots suitable for teardowns don't even make it to the open market. Builders and realtors specializing in a particular neighborhood keep their ears to the ground. When they see, for example, the elderly resident with a moving van in front, they swoop in. Realtor offers the seller a cash deal, no contingencies, no inspections, and pockets the commish on that sale. Builder builds new house, the realtor that managed the first sale gets the listing on the second sale, and gets at least the split commish on that one too. And in really hot neighborhoods, that realtor already has a list of customers waiting for houses, so she gets the full commish on the second sale if the buyers don't feel the need to have their own agent (and in these areas, buyers tend to be cash buyers and with considerable experience, so they often don't feel the need for hand-holding through the process).

So the idea that you're just going to waltz in, buy a lot, scrape the house, build your own, is likely not to work so well when there are four of five agents and four or five builders that already know every lot in the subdivision, who owns it, and are already in every owner's Rolodex.

Yeah this is 100% accurate and a very good point. For example the neighborhood I posted above (canyon creek/praire creek) all of the realtors who deal in that neighborhood and have a house/client that's basically lot value greater than house value hardly any of them ever list the house on the MLS.

They just sell the house directly to Ron Davis, Shaddock Caldwell, Redo, or Fairview. It's less work for the realtor and like you said almost all of the time the builders will rewards them by letting them be the ones to re-list the house once it's built.

[EDS_]

Originally Posted by rabbit33

What OP's probably not aware of is that, in many neighborhoods, depending on lot value, lots suitable for teardowns don't even make it to the open market. Builders and realtors specializing in a particular neighborhood keep their ears to the ground. When they see, for example, the elderly resident with a moving van in front, they swoop in. Realtor offers the seller a cash deal, no contingencies, no inspections, and pockets the commish on that sale. Builder builds new house, the realtor that managed the first sale gets the listing on the second sale, and gets at least the split commish on that one too. And in really hot neighborhoods, that realtor already has a list of customers waiting for houses, so she gets the full commish on the second sale if the buyers don't feel the need to have their own agent (and in these areas, buyers tend to be cash buyers and with considerable experience, so they often don't feel the need for hand-holding through the process).

So the idea that you're just going to waltz in, buy a lot, scrape the house, build your own, is likely not to work so well when there are four of five agents and four or five builders that already know every lot in the subdivision, who owns it, and are already in every owner's Rolodex.

This........

[Leonard123]

You can't find single story homes not big enough? Exactly how much space do you need?

I would think you could tear down and build any house you buy so long as the replacement met all city codes, deed restrictions, and HOA guidelines where applicable. Just be sure you have the budget for it, and don't expect to recoup the costs if you ever sell it.

[NTXPerson]

Farmers Branch, specifically the Brookhaven area, is seeing a lot of demo/rebuilds. Several years ago, the city was offering grants and tax breaks for those who wanted to rebuild on a lot. I don’t know if they still offer that program. I don’t know about the affordability now, but the city was one of the more affordable cities north of Dallas. It being smaller than it’s surrounding cities, people tend to overlook it. It may be worth looking into.