Home Buying in Salisbury>Question Details

CubbieFan, Both Buyer and Seller in Stevensville, MD

Quantifying the value of location?

Asked by CubbieFan, Stevensville, MD Tue Apr 28, 2009

Hi, we are trying to decide between a villa in a nice golf community in delmar, de and a single home in harbor pointe, salisbury. Both are in good location, and the price difference about $ 20,000;
More info: Villa; about 2,200 sq ft, 3 bed, 3 full bath, large kitchen, fully upgraded model home with loft and sun room.
Single home: About 2,000 sq feet, 4 bed, 2.5 bath, unfinished basement, large kitchen, some upgrades. Quick deliver.

Given these info, which house would provide more value? We love the golf community and the coziness of the community, but we are balking at the fact that a 3 bed room villa is only $20,000 less than a single house with 4 bedroom! I'm sure the golf course is priced in, but is location really that different?

Our heart is telling us to choose the villa, because that's where we want to live. But, our brain is telling us that we should choose 4 bedroom single house.... Ohh.... I can't decide!!! Someone please help!!!!

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Answers

5
The big difference is the value of the land. The value of land around the golf course might increase more over time due to the limited supply .
Your decision is easy . Compare it with buying a car .Do you want a car to go from A to B or a car that you love to drive. The detached house is a house to live in. The villa is part of a life style in a country club community .
If you can not afford or don't like that life style, forget it and buy a house.
0 votes Thank Flag Link Tue Mar 2, 2010
I think the golf community home you are talking about is in the Wood Creek Golf Course subdivision - is that correct? If so the reason for the pricing difference could be several factors. One being because it is an attached dwelling and is not separated from your neighbors. Another is because of the high monthly dues and HOA fees. I am very familiar with this subdivision. Before buying this property you need to familiarize yourself with all these fees and conditions. I understand there to be a front foot assessment fee each year that covers water, sewer and set back fees that could total hundreds of dollars. Furthermore the HOA fee is high due to the grounds maintenance and use of the clubhouse and pool.

If you'd like to contact me I can obtain all these costs. But in reality this is why you are seeing such a price difference. Yes lower to purchase upfront but over the years the fees out of pocket each year will make up the difference and some.

The Harbor Pointe subdivision does not really compare to this subdivision with regards to amenities and maintenance. The common grounds and HOA have moderate rules and as you can see each neighbor can do as they please and all the yards are kept up different. So hopefully the house you are interested in has quality neighbors - but if one moves out and another in - you never know. Furthermore, this community does not have a pool, clubhouse, or golf course. So lack of these amenities and conveniences are missing.


There are a few other communities that offer more amenities like the Wood Creek golf course in the area that are in the same price ranges. If you would like this list or have any questions please feel free to contact me at anytime and I would be happy to provide you with more information.

I hope this helps for now. As Jennifer below suggests – you should have exclusive buyer representation.


Adam Roop
BUYER AGENT
http://www.TheRoopGroup.com
Salisbury, MD Realtor
410-912-0310
Web Reference: http://www.TheRoopGroup.com
0 votes Thank Flag Link Tue Apr 28, 2009
I would suggest you have your buyers agent run some comps for you so you can see what the sale price differences are on both locations. On another note - I see you're from Ashburn, VA...have you listed your home in Ashburn or are you planning to? I can run those comps for you if you aren't already working with a listing agent...visit my website at http://www.jenniferyounghomes.com or email me at jenyoung@kw.com. Good luck on your moving plans Youngster!
0 votes Thank Flag Link Tue Apr 28, 2009
Since I'm not from your area, my opinion won't be influenced by what I know or don't know about the areas in question. If this is going to be your primary residence, what is your heart telling you? Where do you feel at home at? Those answers should guide you and not necessarily, the dollars & cents of it all.

Good luck!
0 votes Thank Flag Link Tue Apr 28, 2009
To clarify our position, we love the villa, but we feel that it is over priced when compared to single home. They are both new construction. The price difference is $ 20,000 when we feel villa should be a lot more cheaper since it is not detached home, and it has one less room. But at the same time, should making sense financially be the only factors to be looked at when choosing a home?
0 votes Thank Flag Link Tue Apr 28, 2009
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