Home Buying in Plano>Question Details

Gayle, Home Buyer in Plano, TX

Would it be wiser to build a new townhome in east plano (off Spring creek by CCCC) or look to get a?

Asked by Gayle, Plano, TX Wed Jun 25, 2008

pre-existing townhome or condo in a popular Dallas/Addison area?Any market predictions?

Help the community by answering this question:


I live in this community you are referring to... KB home's Oakpoint.. I don't think the townhomes are a good value since they are SO close to the power lines. ... but the single family homes, away from the power lines are a good buy... the location is really good, close to the highway, lots of restaurants and shops, i definitely dont feel suburban at all.. and its right next to CCCC and the oakpoint park nature preserve with plans to transform the preserve in to a park with access directly from the community ... which'll be great !!!
0 votes Thank Flag Link Mon Jul 7, 2008

Both of these are great areas.

Addison is so small (4x4 miles) and built out that you should see better appreciation there. K Hov has some new product they're building by the Galleria, you've got Ashton Woods and City Homes there as well. in the heart of Addison. They've got that great Addison Circle area where there's salsa dancing, cinema in the circle, July Jazz, and all kinds of fun things going on there this summer. People bring their dogs out to listen to the concerts in the park with sterno burners under their fondue pots. Watching fireworks from any of the restaurants, hotels or high rises for Kaboom Town - July 4th on the 3rd...You can join the Addison Athletic Club for a ONE time fee of only $10 and swim all summer if you're an Addison resident. The theatre is right there, you can walk to shops, restaurants, the park... Addison has more restaurants per capita than New York City! And, with the new plans for Midtown urban living center at 635/Tollway with the cooking school, Italian grocery, NY style deli @ the "Food District." ... This sounds more like the lifestyle you are looking for. Addison will have a higher percentage of resale than Plano. There is more of a market for it. And, if you've got a proclivity toward that lifestyle - why not go there? It seems to make more sense for you.

With the extension of the Tollway all the way to 380, you should have a pretty easy commute to Frisco from there. You'll also be driving away from traffic. Most people are in Frisco and trying to get to Dallas in the mornings than the other way around. His commute to UTD shouldn't be bad either.

Just curious, why would you be looking to sell in 2 years? I don't have a crystal ball, but if we negotiate a good discount for you, you could break even in two years. We'd be happy to discuss all this with you.

Happy to help,
Terri Hayley
0 votes Thank Flag Link Wed Jun 25, 2008
Gayle - there are several locations with THs that fit the "urban" lifestyle and are located midway between Frisco and UTD. Try Bella Casa in Frisco (http://www.janusregroup.com/site/9564), or Legacy Townhomes in Plano (http://www.janusregroup.com/site/9565) or Lakes Park Estates in Richardson (http://www.janusregroup.com/site/9563). Please let me know if you like any of these THs or if there is a different area or price range you are considering. I would be happy to help. Thank you.
Web Reference: http://www.janusREgroup.com
0 votes Thank Flag Link Wed Jun 25, 2008
That is our dilemma- we are much more inclined to the urban lifestyle, but I work in Frisco and my husband is at UTD so we need a halfway point. I'm willing to drive a bit further if it means we get to be somewhere we like living. Can you get a good return on a newly built townhome if you have to sell in 2 years? We just want to at least break even and we realize that owning a home is really a better idea than renting in most cases. Thanks!
0 votes Thank Flag Link Wed Jun 25, 2008
Never work with a builder/seller/listing agent unless you have your own real estate who represents you and covered under your agent e & o insurance if things go wrong during the transaction

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Per the professional code of ethics governed by the State of Texas we cant make comments for your question however as Melissa stated in her comment is true what is your lifestyle, what are you qualified for many factors come into play while you work in concert with the real estate agents make decisions together

There are Plano condo foreclosures which are move in quality with equity have you considered that ?

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0 votes Thank Flag Link Wed Jun 25, 2008
Hi Gayle - I have worked with many clients at Oakpointe there in Plano near CCCC on Sprink Creek. However, all of them have backed out of the contract due to poor management and building. I would not recommend that location because of the large power lines that run through the neighborhood. While they are offering very attractive incentives and very little money to buy in, I think they will have a very hard time at resale. There are plenty of townhomes around that area that will appreciate better. But I think Melissa is right in that you should consider your lifestyle and proximity to work.
Web Reference: http://www.janusREgroup.com
0 votes Thank Flag Link Wed Jun 25, 2008
First of all, did you find out what you needed to know about a Lease-Purchase? I noticed you asked about that on your previous post.

Secondly, to answer this question I would recommend that you determine which area is more suited to your lifestyle & employment. If you currently work in (or near) Plano and prefer a community that is geared toward families then I would say Plano is a great location for you. However if you currently drive to Dallas (or that general direction) for work and you prefer a community that is geared toward urban professional lifestyles then the Addison area would be a perfect match.

Of course, price will be a factor regardless of where or why you purchase. At this time you can certainly get a great deal on new construction. In a townhome community it would be wise to determine how many vacant "inventory" units are in the community and how long they have been for sale before building. While a pre-existing home will sometimes have charm & character...being able to choose your cabinets or carpet are always a bonus when building from scratch (if you have a few months to wait for it to be built).

However, if you are looking strictly from a re-sale perspective for a few years down the line, then you will have other factors to consider than just the items listed above.

I hope this information is helpful. Good luck in your search. Please let me know if there's anything else I can do to assist you.

Melissa Hailey
Coldwell Banker Jane Henry Realtors
0 votes Thank Flag Link Wed Jun 25, 2008
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