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I was just browsing around the website of our builder. No real reason, just felt like surfing. I came across my EXACT house but in Chapel Hill and almost $100K MORE than I paid!!!!! Unless this house has a gigantic lot, I have seen the proof that you get more house for your money in different areas.
I saw something very similar to this. We looked at a house in Knightdale that was $150K. A few months later I saw the same exact house in a great location in N. Raleigh for $205K. Same lot size and only minimal upgrades. Location, Location, Location....
I was just browsing around the website of our builder. No real reason, just felt like surfing. I came across my EXACT house but in Chapel Hill and almost $100K MORE than I paid!!!!! Unless this house has a gigantic lot, I have seen the proof that you get more house for your money in different areas.
Whether you get more house for your money in a particular area depends on what you mean by "more." I'm sure that your house is located in a nice place but Chapel Hill probably the most desirable area in the Triangle. People are willing to pay a premium for Chapel Hill-Carrboro schools, low crime, price stability, etc. Your priorities may be different.
Whether you get more house for your money in a particular area depends on what you mean by "more." I'm sure that your house is located in a nice place but Chapel Hill probably the most desirable area in the Triangle. People are willing to pay a premium for Chapel Hill-Carrboro schools, low crime, price stability, etc. Your priorities may be different.
I agree that the price difference is notable.
sdheel,
I think your post is absolutely right. I find it interesting that some people (not this thread in particular) express amazement at the price differences. There is often a hint that they don't feel the price difference is justified or that it's just crazy someone would pay that much more for the exact same house located elsewhere.
The fact is that the real estate market is governed by supply and demand. These prices aren't just made up. The larger the price difference between two exact homes - the larger the preference the buyer community has for one property over the other. As you state - it just comes down to priorities and preferences.
I found my exact house for just a little bit more than we're paying for our resale but brand spanking new However, I was pacified by discovering that it's located in the way way north of Durham, whereas ours is a quick little hop to get on I40 (not to mention our back yard is fenced in, we're getting nice $$ towards our closing costs, the original owners took an option to add a bedroom, and our HOA fees are nice and low). Our floorplan is also for sale brand new in two other north Durham locations but for 40k and 100k more. The lots in the other two neighborhoods are much larger, and back to forests. It was fun to also find a video showcasing the model home of our floorplan. I may check it out after we move in for ideas
Last edited by Indigoblue; 04-12-2007 at 08:12 PM..
I sold a townhouse that was built by Standard Pacific Homes (Westfield Homes for those of you that have been around a bit longer). It was listed in North Raleigh for $170s. They were building the exact same neighborhood in Durham for $150s. The North Raleigh neighborhood sold out wayyyyy before the Durham neighborhood even with the price difference. Location, location, location.
Vicki
I sold a townhouse that was built by Standard Pacific Homes (Westfield Homes for those of you that have been around a bit longer). It was listed in North Raleigh for $170s. They were building the exact same neighborhood in Durham for $150s. The North Raleigh neighborhood sold out wayyyyy before the Durham neighborhood even with the price difference. Location, location, location.
Vicki
It's the same thing everywhere else in the country as well. There's always more desirable and expensive parts of the area, and the less expensive and less desirable areas.
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However, I was pacified by discovering that it's located in the way way north of Durham, whereas ours is a quick little hop to get on I40 (not to mention our back yard is fenced in, we're getting nice $$ towards our closing costs, the original owners took an option to add a bedroom, and our HOA fees are nice and low). Our floorplan is also for sale brand new in two other north Durham locations but for 40k and 100k more. The lots in the other two neighborhoods are much larger, and back to forests. It was fun to also find a video showcasing the model home of our floorplan. I may check it out after we move in for ideas 
