The Preserve vs Rosewood Estates Home Quality (St. John: real estate, refinance)

[ta1064]

The Preserve, in St. John, is marketed as the latest upscale subdivision. But the overall quality of homes is questionable. While some homes look semi-custom with high-end appointments, others appear mass produced. By comparison, Rosewood Estates, just across the street, has homes that consistently appear to have high-end quality.

Can anyone share insight?

[rrah]

Look at the age of the subdivision. From what I can see some of past listings some of the houses in Rosewood Estates are 20 years old.

As most people know the price for building materials and labor and housing increased dramatically during the pandemic. I'll use my house as an example as it's similar to some of those I see in Rosewood Estates and built 21 years ago, but in a different part of the state. The year prior to the pandemic our appraised value was about 60% higher than the original build cost. We refinanced in 2019 so I know what it was. Today the appraisal would be 100-110% higher than the original build cost.

If we were to build it again that number would go even higher. That same year someone built on the last remaining lot in our neighborhood. They paid about the same for a house 1/2 the size with lesser quality materials as we had paid 20 years earlier.

[ta1064]

Wow, very interesting. Thank definitely why homes look cheaper but costs have gone up.

[svillechris]

Originally Posted by ta1064

The Preserve, in St. John, is marketed as the latest upscale subdivision. But the overall quality of homes is questionable. While some homes look semi-custom with high-end appointments, others appear mass produced. By comparison, Rosewood Estates, just across the street, has homes that consistently appear to have high-end quality.

Can anyone share insight?

I'm familiar with both subdivisions and you're correct in your perception of each, or at least I agree with you. The Preserve is specifically marketed to younger families who want a newer builds at a price point around $750k. Rosewood homes appear to be of a higher quality and are, as the name states, more estate-like than houses in the Preserve. If you want a much more community feel close-knit subdivision with a lot of kids, you'd go with the Preserve. For more charming real estate, you'd go across the street, though that's not a big subdivision and the options would be scarce. To your point though, I would suspect that the homes in Rosewood are of better quality.

[richb]

Comparing apples and oranges. Rosewood is at a much higher price point than the Preserve. It has much bigger lots, had probably a dozen different home builders for more individuality, and it was already partially wooded when it was developed. The Preserve is a builder-developer (Shilling), so only them as homebuilders, so just that will make them look more similar. The Preserve was a farm with no trees, and the lots are much smaller. The Preserve price point is generally about a quarter less than Rosewood. So that is why they are different.

[ta1064]

Originally Posted by richb

Comparing apples and oranges. Rosewood is at a much higher price point than the Preserve. It has much bigger lots, had probably a dozen different home builders for more individuality, and it was already partially wooded when it was developed. The Preserve is a builder-developer (Shilling), so only them as homebuilders, so just that will make them look more similar. The Preserve was a farm with no trees, and the lots are much smaller. The Preserve price point is generally about a quarter less than Rosewood. So that is why they are different.

Thank you…interesting info. Guess there’s something for everyone in NWI.

[Northwest Indiana]

Originally Posted by richb

Comparing apples and oranges. Rosewood is at a much higher price point than the Preserve. It has much bigger lots, had probably a dozen different home builders for more individuality, and it was already partially wooded when it was developed. The Preserve is a builder-developer (Shilling), so only them as homebuilders, so just that will make them look more similar. The Preserve was a farm with no trees, and the lots are much smaller. The Preserve price point is generally about a quarter less than Rosewood. So that is why they are different.

The Preserve actually has numerous different builders that Schilling approves to build in the neighborhood (and have actually built in the neighborhood). In fact, I would say the majority of the homes in this neighborhood were not built by Schilling. Subdivisions like Greystone, Oak Brook of Cedar Lake, and Beacon Pointe are mostly Schilling partnering with McFarland (cottage homes, townhomes, single-family). But Schilling is not solely a developer-builder (as opposed to names such as Olthof, Lennar, Providence Red, DR Horton, etc.)

In the Preserve, there does appear to be some architectural diversity in the more recent phases as compared to when first constructed (there are some quite modern style homes with very few or almost no details that would be considered "traditional". The biggest difference is just that in Rosewood Estates, most of the homes while more custom/semi-custom are brick with some siding and are very much more traditionally styled and the color schemes more natural/conservative earth tones (which was very much the style offerings in the mid 90s to mid 2000s. While there are many different floor plans and exterior elevation styles in Rosewood Estates, most of the homes also have the same red/red-brown/beige brick and beige siding scheme. Rosewood was developed at a time where the only options allowed for materials were brick (no veneer), stone (no veneer), and limited wood siding. Of course, vinyl was not allowed. It is pretty much the same in The Preserve but alternative options (e.g. hardiplank, etc.) has come a LONG way and are deemed as appropriate options now in upscale offerings.

Overall, I would not be worried about the long-term quality of The Preserves.

I want to add that it looks like the land directly north of Rosewood Estates is owned by "Preserve SJ LLC" a function of Schilling and is slated to become "The Preserve at Rosewood Estates"