xp from nest re: planned community thoughts

drunkenwife · May 2009

Can anyone offer any pros/cons about them?

We took a tour of Savannah last night and unexpectedly liked it, but it just seems so "one of us.... one of usssss.... drink the kool-aid..." But we really really like the idea of building a house from scratch, especially since it's so cheap compared to some of the houses we're looking at (that we would then need to sink $$ into to customize to our liking).

So, anyone here live in one? or lived in one in the past?

MrsTotty · May 2009

Is Savannah the one out in Aubrey on the way from Denton to Frisco (I forget the hwy ... 380 maybe? 360?)? My cousin used to live out there. She had a small home and liked it a lot ... had nice neighbors, lots of kids and younger families. The issue arose when she tried to sell. All those brand spankin' new homes are cheaper to have built brand new then to buy one thats 5 years old. She LOST money on her home sale.

IDK - I wouldn't buy into something like that unless you're planning on staying there a LOOOOONG time, and when you DID move you wouldn't be on some sort of a time schedule.

MNP0304 · May 2009

I had a friend who tried to purchase a home out in Savannah. He gave up after three of the homes he put offers on failed inspection. Each had a different huge issue with the way the home was built.

drunkenwife · May 2009

Yup, that's the one on 380. We've been discussing the resale issue because we figured that it would be tough to sell in the short term. On the plus side, they still have large enough lots available that we can build the size of the house we want, so we'd be okay there for a while. Some of those houses are so freaking small that I'd go crazy, so large space and yard are mandatory, (which may be a selling advantage 8 years down the line).

Jessibell · May 2009

MrsTotty:

Is Savannah the one out in Aubrey on the way from Denton to Frisco (I forget the hwy ... 380 maybe? 360?)? My cousin used to live out there. She had a small home and liked it a lot ... had nice neighbors, lots of kids and younger families. The issue arose when she tried to sell. All those brand spankin' new homes are cheaper to have built brand new then to buy one thats 5 years old. She LOST money on her home sale.

IDK - I wouldn't buy into something like that unless you're planning on staying there a LOOOOONG time, and when you DID move you wouldn't be on some sort of a time schedule.

I want to make sure that I got this, because it confused me.

The builder was still selling the same floorplan, brand new for cheaper than the existing homes, right?

pjoann78 · May 2009

I don't know anyone whose lived in Savannah (or Providence) but I love the idea of the community. If it wasn't so far from my work, I would have considered either of those neighborhoods. If you're not dead-set on building a new house, in the past, there have been quite a few foreclosures up there (on www.bidselect.com). People just bought more than they could afford. You wouldn't have to worry quite as much about resale if you got it 20k below market value.

MrsTotty · May 2009

Jessibell:
I want to make sure that I got this, because it confused me.
The builder was still selling the same floorplan, brand new for cheaper than the existing homes, right?

Correct. The brand new homes can be/are being built and sold for less then what existing homes are worth. Why would someone buy a more expensive USED home, when they can have a brand new one built with all the customizing THEY want for a cheaper price tag?

When she was trying to sell, half of the existing development was for sale ... it took her over a year to sell, and she LOST money on it.

ps. This is one reason DH and I insisted on an older home in an established neighborhood when we went to buy.

Jessibell · May 2009

MrsTotty:
Jessibell:
I want to make sure that I got this, because it confused me.
The builder was still selling the same floorplan, brand new for cheaper than the existing homes, right?

Correct. The brand new homes can be/are being built and sold for less then what existing homes are worth. Why would someone buy a more expensive USED home, when they can have a brand new one built with all the customizing THEY want for a cheaper price tag?

When she was trying to sell, half of the existing development was for sale ... it took her over a year to sell, and she LOST money on it.

ps. This is one reason DH and I insisted on an older home in an established neighborhood when we went to buy.

I gotcha! We built ours in the last phase of the development and by a year later the builder was selling them for 20K more than we paid.

Then the market tanked and our house lost value anyway

drunkenwife · May 2009

MrsTotty:
Jessibell:
I want to make sure that I got this, because it confused me.
The builder was still selling the same floorplan, brand new for cheaper than the existing homes, right?

Correct. The brand new homes can be/are being built and sold for less then what existing homes are worth. Why would someone buy a more expensive USED home, when they can have a brand new one built with all the customizing THEY want for a cheaper price tag?

That's EXACTLY what attracts us now, but you're right in that we'll have to wait for a couple more housing cycles to sell. And if we don't like it we're SOL. It's definitely on our "con" list.

Twin_Stones_in_the_Oven · May 2009

DH and I were considering buying a house in Providence. It's a little less "master planned" I guess you can say.

There's more ins and outs... where Savannah has like 2-3 ins/ outs.

I really like the family enviroment we saw while driving around. We saw parents playing catch and kids playing... it was nice.

meganlovesandy · May 2009

My fiance and i are looking into a home in Providence. We think it is great because in frisco where we live now most of the elementarys are in the neighborhood because there are so many kids out there but it is such a cute place and they have a little water park and stuff.. we really hope that we can get the house that we put a bid in it will be nice to raise a child where you dont have to drive to go to a park or a nice large pool. My parent neighboorhood is getting old they have lived in that house for 13 years now... and their pool is tiny (hold 40 ppl max) it would be nice if you plan to live there a while!

xp from nest re: planned community thoughts

Re: xp from nest re: planned community thoughts

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