If you have not already found a house we have our house listed in Wellsley for $375K. Over 2500 sq ft, 4 bedroom and bonus or five bedrooms. Recently upgraded kitchen, highest rated appliances by Consumer reports, hardwoods recently redone, upgraded carpeting upstairs, bathroom fixtures updated, zoysia front yard with four zone sprinkler system, very private wooded lot on a cul-de-sac with a median. Backyard backs up to woods. As for now schools are DDE, DDM, and GHHS......MLS/Source 1669792 .....justcallbrenda.com.

Most of the land in the area around my office(located in the DavisElementary/Green Hope High school area was developed in the mid-1990's. Most of the new construction is in the Northwest Cary area Mills Creek Elem/Panther Creek High area.

As others have mentioned the cost of land in Cary skyrocketed in early 2000. For example, I was just out showing buyers/clients in Highcroft Village that are looking to build a custom home pre-sale(Builders have stopped building specs in the area due to the softness in the economy.) In the estate section at Highcroft Village with lots starting at .40 Acres the lowest price lot they had available was $145,000. So, you can see that building a home in Cary for $350k would be quite a challenge due to the pricing for the land.

One last point, builders in this area, for the most part, would have chosen builder teams that would build in a community. In that case, buyers could only build with one of the chosen "few". Now that the real estate market has shifted some developments are unbundling the land with the chosen builders. This gives home buyers more flexibility in terms of who they use to build their home. On the other hand, the look and feel of the neighborhood may not remain consistent and could be negative when reselling the home.

1.To answer your first need, a home in the Green Hope and Davis Drive school districts, with the growth of Wake County, school assignments are an ever changing thing. What is the school for that area could change, next year or the year after and even this year.
2.Finding land, clearing for construction, tap in fees for utilities, getting building permits (price just jumped up) can be difficult. Lot cost will start about $50,000 and go up, the style and amenities of your home will also affect the price. A ranch takes a wider lot and cost more than a multiple story home to build.
3. You would not want to find land and build a $350,000 home in a $150-$200 subdivision so that also will limit your choices.
All that said, it is not impossible. It would be my recomendation as a former Builder/developer and currently Realtor to advise you to get with a Realtor that you feel confortable with and who is knowledgeable with land and builders, discuss your wants and needs for the home, then look at land and builders as well as investigating new construction homes. Along with this you may find it necesary to decide which is most important for your family the high school or the elementary school in order to have the best choices. These are all things that need to be considered. Best of luck, call me if you have questions!

.Hello Msjfr, If you are leaning towards the custom home building processes in the Davis drive area, the cost of Land and permits are a big prohibitive factor in your price range. Building lots are hard to come by. May require some knocking on doors to find something. However, there are some houses in the market which may satisfy your needs without going in to the building process on your own, I would suggest working with a Buyer’s agent who will help you to navigate through your options.
There are also pre-sale options which can provide you with just the amenities you are looking for without going it on your own. Generally speaking you will get more bang for your buck by going this rout. You should be able to find a very nice home within your budget. Be sure to check the Wake county school district zones and talk with school officials before taking the location in to consideration, as school zoning change often.

Any of responding Realtor can provide you with a list of available homes from the MLS which is a generic service we all offer. It is unlikely that you will be able to purchase a single lot within a neigbborhood and bring in your own buider or contract it yourself. However, there can be opportunities to work on a "pre-sale" directly with the controlling developer/builder to get the house you want. Your budget for the square footage will be tight and may require some adjustment. I always recommend a consultation with an experienced agent who will manage the process for you. I would be glad to talk or meet with you when you are ready.

I think this could be a perfect match for you: You couldn't build this custom house for this price and it's in "like new" condition!

Davis Drive Schools and Green Hope High School. Perfect Location

MLS Number: 1669015
2903 sq feet, 4 bedrooms, 3 1/2 baths, office, screened porch, fenced yard etc...

Hi Msjfr, how are you? have you found a home yet? If not, you really need a good Buyer agent. Please don't hesitate to call one.

Hi Msjfr,
When we moved to Cary 8 years ago we also wanted Green Hope HS. We settled in Carpenter Village just off Davis Dr on Morrisville Carpenter Rd. You can go out the back of Carpenter Village (CV) to get to the HS. There are 4 active listings in CV in the mid $300s with 2700 - 3000 sq ft. It is a great community with a lake, walking trails, pool and tennis.

Best of luck with your home search. I'd love to assist. Be sure you check for the school district at http://www.wcpss.net.

Take Care,
Shelia

Hi Msjfr, I have worked with a lot of buyers with requests for homes with Davis-Davis-Green Hope schools. Actually, there are a couple of new home opportunities. Please email or call me and will be glad to discuss with you.

Thanks
Joe

The cost of land in this area will certainly be the biggest challenge - and there are very few lot and land opportunities! In general, you'll want to plan for the cost of land to be no more than 20% of your total cost. In Cary, it's hard to find a lot or piece of land for less than $100K, which can drive a significant portion of the total build cost.

When obtaining custom home construction cost bids, be sure that the bid includes all of your "site costs", including:

Permits and Fees - Cary and Raleigh have some significant impact fees and building permit costs.
Lot Clearing
Foundation Preparation
Grading
Sewer (or Septic) - including all city/county fees, costs are commonly at least $5K, unless the developer has paid these costs.
Water (or Well) - again, anticipate at least $5K for many locations.
Driveway - does the neighborhood require concrete or blacktop? How long does the driveway need to be?
Sidewalks and Walkways
Landscaping - check to see what the neighborhood architectural guidelines require

Your builder should be able to provide a good estimate for you, including allowances or firm committments for each of these "site costs". When comparing bids, make sure each bid includes site costs specific to the lot or lots you are considering. Let us know if you need more help!

Lizete is right.

Your price point is difficult.

With some of the most desirable schools in Wake County on your list, housing prices are strong in the area.
As you have noticed.

Consider Wellsley for 10 year old homes, and you may find a good buy at $350,000.
But either your budget or selected schools will have to bend a little, I think, if you only will look at new construction.

There currently is a home for sale in Upchurch Farms, it meets your criteria except the sq. footage see the link below:
http://trianglemls.mlxtempo.com/Pub/EmailView.asp?r=35269951…

It'll be very difficult to build in that price range in that area. You'll have better luck purchasing a resale home.
Be aware that school reassignment is commonplace and there are no guarantees that these schools will be the same for an extended period of time.

Good luck,
Lizete