Windsong Ranch Crystal Clear Blue Lagoon ProsperTX (Dallas, Plano: mortgage, new home)
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$118/mo is still a pretty low HOA cost for what you're getting there no matter how you slice it. I lived for years in a 25 unit condo complex that had a monthly HOA of $240. For that, we had a pool and that was it. Most of our dues went toward the insurance coverage for the complex. I fought tooth and nail for 4 years to keep those dues at that level too (I was Treasurer.)
As condos have more shared expenses, it’s different than single family homes where owners are responsible for themselves.
As condos have more shared expenses, it’s different than single family homes where owners are responsible for themselves.
Exactly. But the point I'm making is that there are plenty of places where you can live where HOA dues can practically approach the cost of a mortgage payment. Even at $200/month, I wouldn't think the HOA dues would be out of line for Windsong Ranch amenities. I pay $800/yr right now where I live, and I get no benefit from that at all. We have a community pool, and a playground, but we have our own pool, and the playground is not within walking distance, so it's basically useless to us.
Exactly. But the point I'm making is that there are plenty of places where you can live where HOA dues can practically approach the cost of a mortgage payment. Even at $200/month, I wouldn't think the HOA dues would be out of line for Windsong Ranch amenities. I pay $800/yr right now where I live, and I get no benefit from that at all. We have a community pool, and a playground, but we have our own pool, and the playground is not within walking distance, so it's basically useless to us.
I hear you. Those community amenities are pretty much useless for most homeowners most of the time, only a small percentage really benefits. However, as I said if someone thinks they’ll get good use out of Windsong and they work nearby, it’s a justified expense, just keep in mind that it’s going to go up after builder leaves and once repairs/upkeep increases. If dues won’t go up, upkeep wouldn’t be satisfactory enough.
Exactly. But the point I'm making is that there are plenty of places where you can live where HOA dues can practically approach the cost of a mortgage payment. Even at $200/month, I wouldn't think the HOA dues would be out of line for Windsong Ranch amenities. I pay $800/yr right now where I live, and I get no benefit from that at all. We have a community pool, and a playground, but we have our own pool, and the playground is not within walking distance, so it's basically useless to us.
Windsong is heavily subsidized by the developer, as shown by the slow creep of their fees. I'd imagine they'll probably land in the $200-$250 range by the time it's all said and done, and that's something that most new buyers aren't going to be thinking of.
While it's a really cool master planned ex-burb, I can see the escalating ancillary costs being a huge drag on appreciation in that area. They're likely going to end up with a tax rate in the 2.6 range, plus HOA, and home insurance in that area is starting to skyrocket - almost every major carrier has +20% indications (TX DOI likely won't allow all of that, so you'll start to see more 2% deductibles as the only offering). Add on to that, you're heavily toll-road dependent up there. All in, you're probably looking at $300-400 more per month factoring everything, which is $60-80K in buying power on a 30 year loan.
Windsong is heavily subsidized by the developer, as shown by the slow creep of their fees. I'd imagine they'll probably land in the $200-$250 range by the time it's all said and done, and that's something that most new buyers aren't going to be thinking of.
While it's a really cool master planned ex-burb, I can see the escalating ancillary costs being a huge drag on appreciation in that area. They're likely going to end up with a tax rate in the 2.6 range, plus HOA, and home insurance in that area is starting to skyrocket - almost every major carrier has +20% indications (TX DOI likely won't allow all of that, so you'll start to see more 2% deductibles as the only offering). Add on to that, you're heavily toll-road dependent up there. All in, you're probably looking at $300-400 more per month factoring everything, which is $60-80K in buying power on a 30 year loan.
Accurate.I think a lot of people do not realize that costs in a suburb like Prosper add up very quickly,far more than places like Plano or Frisco.The tax rate is higher in general (2.50) the lot sizes are significantly larger (a lot of upkeep) and virtually every neighborhood has an HOA with a costly fee.The housing stock overall is more expensive...thus obviously impacting carrying costs long-term,including insurance rates.Add in tolls and that is a big burden for a family pulling in less than say,six figures.
If I was 24 all over again,I would be doing Plano for $250,000 with a small lot and low tax rates instead of Prosper for $500,000,because that is what I could comfortably afford.If I was making a substantial income,Prosper.
Accurate.I think a lot of people do not realize that costs in a suburb like Prosper add up very quickly,far more than places like Plano or Frisco.The tax rate is higher in general (2.50) the lot sizes are significantly larger (a lot of upkeep) and virtually every neighborhood has an HOA with a costly fee.The housing stock overall is more expensive...thus obviously impacting carrying costs long-term,including insurance rates.Add in tolls and that is a big burden for a family pulling in less than say,six figures.
If I was 24 all over again,I would be doing Plano for $250,000 with a small lot and low tax rates instead of Prosper for $500,000,because that is what I could comfortably afford.
When we moved up here for my girl's job (Legacy West), we looked at Prosper, West Plano, Frisco, etc. One thing that hit me when we were leaving one of the models up in Prosper was that we've got a HS kid about to drive, which means he'd be in his car rocketing all around all the time. Knowing the number of times I barely skirted death due to that dangerous combination of teen angst, hormones and horsepower, I brought that into the equation. He'll be driving age soon and has no interest. All of his friends are kind of the same. They bike/scooter/bus/walk wherever and have plenty to do without blowing up mailboxes or acting a fool. Just another thing to think about for those looking to head to the far flung reaches.
We actually ended up with a ~.25 acre lot, so I still have the upkeep, but I've got a couple of indentured servants that don't mind the occasional tip to have some scratch on hand. That was kind of a wash. It was a number of other factors (like wanting to keep the Austin house) that really made the hidden looming costs of the Frisco/Prosper areas look less appealing.
WOW!!!! Here's the forest and here are the trees!!!! Coming soon to Northwest Frisco along Hwy 380, the DNT and Preston Rd., not including the Lesso, Group's Chinese 1.2$$ Billion development at Hwy 380 and DNT is the Robert Fields, Jr. project. This 2,500 acres is the largest Project ever in Frisco (includes the 600 acre PGA of America HQ). The partner in the Project is the same developer of Legacy West in Plano. This Frisco Project will be both breathtaking and spectacular, making the Crystal Clear Blue Lagoon Project a solid fit with other soon to be built future amenity packages!
Frisco officials have gotten a first look at plans for the city's biggest pending development, the more than 2,500-acre Fields development on the Dallas North Tollway.
The sprawling property formerly known as Headquarters Ranch was sold last year to a partnership that includes Hunt Realty, Karahan Cos., Republic Property Group, Chief Partners LP and CrossTie Capital Ltd.
After months of planning, the developers showed Frisco's city council and its planning and zoning commission conceptual plans for the project, which is expected to cost as much as $12.7 billion.
The property stretches from Preston Road across the tollway and all the way north to U.S. Highway 380.
The massive development will have more than 10,000 homes and up to 18 million square feet of commercial space.
A 480-acre section of the project has already been sold for the PGA of America's new headquarters, two golf courses and an Omni resort hotel.
"We have more than 2,000 acres left to develop," said Fehmi Karahan, developer of Plano's $3 billion Legacy West property and a partner in the new Frisco project. "This land is so big — two times the size of Love Field airport and three times of Central Park in New York.
"You have to look at this development over 15 to 20 years."
Frisco mayor Jeff Cheney sounded upbeat about what he's seen of the developers' plans.
"There is still a great deal of work to be done, which will include hearing public comments, but at this point in the process, we're very excited and equally encouraged about the Fields team's willingness to work with us to achieve the appropriate mix of uses and product types while being flexible, yet dedicated to delivering creative designs that maintain the quality Frisco is used to," Cheney said in an email. "The collective, overall vision takes advantage of the topography, open space and magnificent views to leverage the asset of the PGA of America.
"We were very pleased to see such a thoughtful, aspirational 'first look' at what Frisco's northern corridor will become."
The Fields development will have a mixed-use "city center" on both sides of the Dallas North Tollway.(Hart Howerton)
The Fields development will have a mixed-use "city center" on both sides of the Dallas North Tollway. (Hart Howerton)
The developers named the huge mixed-use project after the land's previous owners. The Fields family began buying up the land in Collin County north of the sleepy farm town of Frisco in the 1950s and 1960s. For decades, it was used for a cattle ranch.
Now it's the largest undeveloped section of Frisco, one of the country's fastest-growing communities.
The new owners hired New York and San Francisco-based land planning firm Hart Howerton to do a plan for the Fields project.
Last week the developers previewed the work for Frisco government leaders.
"It was a session where we could iron out a lot of details related to the overall master planning and listen to the city leaders' vision and desire," Karahan said. "With such a large project that has such an impact on the city's future, we don't want anyone to be caught off guard."
Preliminary plans for the Fields development show three new residential communities that would be built on the east and west sides of the property on Legacy Drive and Preston Road.
At the heart of the development along the tollway, the developers plan to build a large commercial district. Another commercial complex would be built on U.S. 380.
Karahan said the high-rise "city center" along the tollway would have a mixed-use commercial, retail and residential complex similar to Legacy West. There will also be property for corporate office campuses.
More than 30,000 people could ultimately work on the Fields site.
"Our goal is for that to be a new destination in the Metroplex for a company looking for a headquarters," he said. "If another Toyota comes to town and needs 100 acres, we can accommodate them.
Preliminary plans for the 2,500-acre Fields project in Frisco show a combination of residential and commercial development.(Hart Howerton)
Preliminary plans for the 2,500-acre Fields project in Frisco show a combination of residential and commercial development. (Hart Howerton)
"It will be a Legacy West style development in the urban core," Karahan said. "We are showing our ability to accommodate all kinds of things."
Karahan said that the developers are working with Frisco's planning department staff and hope to make a formal zoning request later this summer.
Site work could start on some of the Fields property as early as next year.
"We want to be able to get off the ground with residential products and a building site if we can attract a big company," Karahan said.
The project is being planned for everything from large estate homes near the golf courses to urban-style apartments in the city center.
"We need to have a diversity of housing," Karahan said. "This land has incredible topography.
"There are lots of high points and creeks running through it."
Development plans for the Fields development show several greenbelts and multiple small lakes on the property. The entire project is connected with walking trails.
And of course the PGA of America golf courses on the northwest corner of the land will have water and mostly open areas.
"The PGA has their first tournament scheduled in 2023, and they want to open their headquarters in 2022," Karahan said. "And the Omni hotel needs to be open at that time.
"There is so much demand for housing around the golf course that it will be an immediate development for us."
The city center of the Fields development would have a mixed-use urban village similar to Plano's Legacy West.
Last edited by Fiber Guy; 06-24-2019 at 05:14 PM..
Reason: update
WOW!!!! Here's the forest and here are the trees!!!! Coming soon to Northwest Frisco along Hwy 380, the DNT and Preston Rd., not including the Lesso, Group's Chinese 1.2$$ Billion development at Hwy 380 and DNT is the Robert Fields, Jr. project. This 2,500 acres is the largest Project ever in Frisco (includes the 600 acre PGA of America HQ). The partner in the Project is the same developer of Legacy West in Plano. This Frisco Project will be both breathtaking and spectacular, making the Crystal Clear Blue Lagoon Project a solid fit with other soon to be built future amenity packages!
So. More debt in corporate incentives to fuel a tax base. More traffic to navigate to an employment center/hub.
More construction to fend your way through.
More school bonds and debt packages to house and train, lest your “good schools” go downhill.
Wow!! Get ready for more traffic and school congestion. ISD will keep building and rezoning, bond debt would increase. More new homes mean resale of their existing homes may halt and recession would put a construction zone in limbo for several years.
On good side, builders and realtors can make more money, buyers can buy new homes and residents can see more jobs in the area.
WOW!!!! Here's the forest and here are the trees!!!! Coming soon to Northwest Frisco along Hwy 380, the DNT and Preston Rd., not including the Lesso, Group's Chinese 1.2$$ Billion development at Hwy 380 and DNT is the Robert Fields, Jr. project. This 2,500 acres is the largest Project ever in Frisco (includes the 600 acre PGA of America HQ). The partner in the Project is the same developer of Legacy West in Plano. This Frisco Project will be both breathtaking and spectacular, making the Crystal Clear Blue Lagoon Project a solid fit with other soon to be built future amenity packages!
Frisco officials have gotten a first look at plans for the city's biggest pending development, the more than 2,500-acre Fields development on the Dallas North Tollway.
The sprawling property formerly known as Headquarters Ranch was sold last year to a partnership that includes Hunt Realty, Karahan Cos., Republic Property Group, Chief Partners LP and CrossTie Capital Ltd.
After months of planning, the developers showed Frisco's city council and its planning and zoning commission conceptual plans for the project, which is expected to cost as much as $12.7 billion.
The property stretches from Preston Road across the tollway and all the way north to U.S. Highway 380.
The massive development will have more than 10,000 homes and up to 18 million square feet of commercial space.
A 480-acre section of the project has already been sold for the PGA of America's new headquarters, two golf courses and an Omni resort hotel.
"We have more than 2,000 acres left to develop," said Fehmi Karahan, developer of Plano's $3 billion Legacy West property and a partner in the new Frisco project. "This land is so big — two times the size of Love Field airport and three times of Central Park in New York.
"You have to look at this development over 15 to 20 years."
Frisco mayor Jeff Cheney sounded upbeat about what he's seen of the developers' plans.
"There is still a great deal of work to be done, which will include hearing public comments, but at this point in the process, we're very excited and equally encouraged about the Fields team's willingness to work with us to achieve the appropriate mix of uses and product types while being flexible, yet dedicated to delivering creative designs that maintain the quality Frisco is used to," Cheney said in an email. "The collective, overall vision takes advantage of the topography, open space and magnificent views to leverage the asset of the PGA of America.
"We were very pleased to see such a thoughtful, aspirational 'first look' at what Frisco's northern corridor will become."
The Fields development will have a mixed-use "city center" on both sides of the Dallas North Tollway.(Hart Howerton)
The Fields development will have a mixed-use "city center" on both sides of the Dallas North Tollway. (Hart Howerton)
The developers named the huge mixed-use project after the land's previous owners. The Fields family began buying up the land in Collin County north of the sleepy farm town of Frisco in the 1950s and 1960s. For decades, it was used for a cattle ranch.
Now it's the largest undeveloped section of Frisco, one of the country's fastest-growing communities.
The new owners hired New York and San Francisco-based land planning firm Hart Howerton to do a plan for the Fields project.
Last week the developers previewed the work for Frisco government leaders.
"It was a session where we could iron out a lot of details related to the overall master planning and listen to the city leaders' vision and desire," Karahan said. "With such a large project that has such an impact on the city's future, we don't want anyone to be caught off guard."
Preliminary plans for the Fields development show three new residential communities that would be built on the east and west sides of the property on Legacy Drive and Preston Road.
At the heart of the development along the tollway, the developers plan to build a large commercial district. Another commercial complex would be built on U.S. 380.
Karahan said the high-rise "city center" along the tollway would have a mixed-use commercial, retail and residential complex similar to Legacy West. There will also be property for corporate office campuses.
More than 30,000 people could ultimately work on the Fields site.
"Our goal is for that to be a new destination in the Metroplex for a company looking for a headquarters," he said. "If another Toyota comes to town and needs 100 acres, we can accommodate them.
Preliminary plans for the 2,500-acre Fields project in Frisco show a combination of residential and commercial development.(Hart Howerton)
Preliminary plans for the 2,500-acre Fields project in Frisco show a combination of residential and commercial development. (Hart Howerton)
"It will be a Legacy West style development in the urban core," Karahan said. "We are showing our ability to accommodate all kinds of things."
Karahan said that the developers are working with Frisco's planning department staff and hope to make a formal zoning request later this summer.
Site work could start on some of the Fields property as early as next year.
"We want to be able to get off the ground with residential products and a building site if we can attract a big company," Karahan said.
The project is being planned for everything from large estate homes near the golf courses to urban-style apartments in the city center.
"We need to have a diversity of housing," Karahan said. "This land has incredible topography.
"There are lots of high points and creeks running through it."
Development plans for the Fields development show several greenbelts and multiple small lakes on the property. The entire project is connected with walking trails.
And of course the PGA of America golf courses on the northwest corner of the land will have water and mostly open areas.
"The PGA has their first tournament scheduled in 2023, and they want to open their headquarters in 2022," Karahan said. "And the Omni hotel needs to be open at that time.
"There is so much demand for housing around the golf course that it will be an immediate development for us."
The city center of the Fields development would have a mixed-use urban village similar to Plano's Legacy West.
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