Closing a home - need guidance (Plano, Howe: home search, refrigerator, water heater)

[gsoy]

Originally Posted by where2settle

No they are not flippers. Have had the house for 7 yrs.

Don't know your exact criteria but we have a very nice, well maintained house on the market in Plano right now. PM me if interested. The feeder elementary is Mathews.

[where2settle]

Originally Posted by tcualum

Honestly, I think it depends on the HOA. We've gotten a pretty good bang for our buck. For example, when a homebuilder tried to not live up to its promises, the HOA president, who was a lawyer, organized the homeowners and put the entire weight of the HOA behind forcing the builder to do what it promised even though the president used another builder. He felt like it was good for the whole neighborhood and it was much more effective than the homeowners trying on their own. The HOA is also negotiating with AT&T to improve the poor cell phone coverage that our neighborhood has. They're also working on road improvements, maintaining the pavilion and walking trails, and stocking the fishing pond. This doesn't include all of the regular things they do such as a security patrol, maintaing community landscaping, social events every month, and neighborhood cleanups twice a year that include a shredding truck. During the pandemic, they organized for ice cream trucks to come once a week and for restaurants to come every week for food deliveries. They email out the menus in advance and ordering instructions. I didn't want to move to this neighborhood because of the HOA but now I'm glad we did.

Which neighborhood is this if you don't mind sharing? Or pls DM me ...thanks!

[where2settle]

Originally Posted by Rothwells mum

It is much better to lose money on an inspection than buy a money pit. We recently purchased in Plano and it took us 6 months to find the home we finally closed on. We passed on two others after the inspections revealed too many issues for the asking price.

Some owners aren't being dishonest, many are just clueless.

We had different specifications than what you are looking for but I can offer you this...

We have a diving pool and even if we use lots of water the bill only fluctuates by a small amount (less than 10.00) unless you are completely draining and refilling the pool all the time.
It isn't rocket science to maintain it yourself. The people at the pool store and you tube videos have made it fairly simple.

House is 2,400 sg ft. -Our average electric bill is around 250, gas 25, H2o/garbage/sewer 100

Older houses that have been taken care of by the owners are fine. It is the neglected ones you need to be wary of... We saw those new houses in Frisco and said no thanks - overpriced, small lots built on top of one another. After renting a 90's house in Plano (briefly) we also learned to look for homes that didn't have those 20+ ft ceilings as it felt like throwing 20 dollar bills into the fire place to keep the house cool.

Also learned to stay away from those neighborhoods where the walking trails are under huge power lines. This led us to the fact that the best bang for our $$$ was a 70's house that was well maintained. And no HOA - learned my lesson years ago to steer clear of those if possible. Foundations can be an issue here with the clay soil so get info about that as well from your realtor on any house you are serious about.

There were so many houses to choose from it was overwhelming at first. It became easier to narrow it down once we saw how much overpriced garbage was on the market. The houses that are priced appropriately for condition seem to sell quickly.

Don't be so quick to jump on the schools are a 10 bandwagon either as that is really specific to your child. My sons were in a so called 10 elementary that was a terrible fit for them socially and are much better off at the elementary school in Central Plano than they were at the higher rated one. Test scores aren't everything...

Thanks for sharing.

Whats the problem with neighborhoods where the walking trails are under huge power lines?

It's funny about frisco because when we were moving here we read plano was more expensive than frisco. It doesn't feel like that at all. Yes frisco probably has a greater inventory of cheaper houses but in the 500k+ range frisco seems to be way more expensive for what you're getting... almost bubble territory.

[widespreadfan]

Originally Posted by where2settle

i posted some of this on other threads but realized it probably requires its own thread. So we have been in the market for a home in the 500-750K range in DFW. After much research we zoned into Plano (zip 75205 or 75024 for better schools) or Frisco. Everyone we talk to including our friends and colleagues shepherd us to Frisco but we are finding that area awfully bland and cookie cutter compared to some nice parts of Plano.

We are now zoning in on a property in Plano - the only couple of reservations I have right now is - its an older property and I'm trying to figure out the best way to politely ask about its energy efficiency. Do I ask for utility bills, do homes in TX have HER ratings - i Know in some other states HER inspections are done routinely, not sure if they are the norm here.

Secondly, the home survey indicates this lies in flood zone X. Is that concerning? From my online research it seems it has flood risk but low. Is this typical for the area and for DFW - would it require flood insurance. My realtor told me she does not really know about flood zone ratings and thats something the title company can explain later. Is this usual for a realtor in the area not to know about this?

Yes, it is fine to ask for copies of the past twelve months of utility bills. This will help you get an idea of how much you need to budget for utilities. New HVAC systems, new water heaters, adding insulation to the attic, and new windows/doors are all ways to improve the energy efficiency of a house.

I personally would never buy a house in a flood zone because I would not want to pay for flood insurance. If you are going to have a mortgage and you buy a house in a flood zone then you will be required to purchase flood insurance, which probably adds a minimum of $1-2,000 per year to your house payment. Flood insurance typically benefits the mortgage company only and not the homeowner. (When you apply for a home loan the lender will pull a flood zone determination certificate and let you know if it is in a flood zone.) Realtors are required by law to know about flood zones and flood insurance. Google "flood insurance" and check the FEMA maps yourself by the property address. If you have further questions contact your insurance agent.

It is also a good idea in addition to having a home inspection, appraisal, and buying title insurance to always get a survey done on the property you are buying. This will probably cost $300-400 and will let you know the boundaries of the property and the surveyor will also make note if the property is in a flood zone.

[EDS_]

Originally Posted by widespreadfan

Yes, it is fine to ask for copies of the past twelve months of utility bills. This will help you get an idea of how much you need to budget for utilities. New HVAC systems, new water heaters, adding insulation to the attic, and new windows/doors are all ways to improve the energy efficiency of a house.

I personally would never buy a house in a flood zone because I would not want to pay for flood insurance. If you are going to have a mortgage and you buy a house in a flood zone then you will be required to purchase flood insurance, which probably adds a minimum of $1-2,000 per year to your house payment. Flood insurance typically benefits the mortgage company only and not the homeowner. (When you apply for a home loan the lender will pull a flood zone determination certificate and let you know if it is in a flood zone.) Realtors are required by law to know about flood zones and flood insurance. Google "flood insurance" and check the FEMA maps yourself by the property address. If you have further questions contact your insurance agent.

It is also a good idea in addition to having a home inspection, appraisal, and buying title insurance to always get a survey done on the property you are buying. This will probably cost $300-400 and will let you know the boundaries of the property and the surveyor will also make note if the property is in a flood zone.

Just adding a little nuance to your informative post.

1. FEMA flood maps are chock full of errors. I spent two years fighting FEMA in efforts to fix an obvious error at my lake house (they had my house which via survey and GPS is provably and completely above the no-build zone/elevation coded as completely in the no build zone). After acknowledging the error it took them 18 mos. to make the fix.

2. Lots of people with mortgages live in FEMA flood zones without flood insurance. I can't recall the codes but the two most likely to flood designations that are problematic relative to your comments not the other several. My son's house has a middling FEMA flood code, he has a mortgage, homeowners insurance and no flood insurance.

3. In my experience FEMA flood zoning etc. are weak spots for most agents - a new or re-freshed survey for $300-500 is cheap money. Any modern survey has elevation info. as you said.

[widespreadfan]

If you get a survey then then the information that the surveyor provides will be much more accurate than a FEMA map. The FEMA maps are a starting point.

Most insurance agents like State Farm or Allstate will refer you to a flood insurance specialist because they do not spend their time doing flood insurance. The flood insurance specialist will be able to help you determine what options you might have. In general I would run from any property in a flood zone. My friends in Nashville, TN sure learned that in 2010 when their homes flooded. They learned the hard way flood insurance benefits the lender not the homeowner in most cases.

[where2settle]

I'm wondering if anyone can share if there are any issues with houses in Plano that are close to the greenbelt / trail under power lines. Are those power lines an issue. We actually liked the idea of being close the greenbelt but don't know if there issues with the power lines being close by.

[veuvegirl]

Originally Posted by where2settle

I'm wondering if anyone can share if there are any issues with houses in Plano that are close to the greenbelt / trail under power lines. Are those power lines an issue. We actually liked the idea of being close the greenbelt but don't know if there issues with the power lines being close by.

I would never buy a house near Power lines. Too much mixed information on whether or not they cause cancer.

[where2settle]

Originally Posted by veuvegirl

I would never buy a house near Power lines. Too much mixed information on whether or not they cause cancer.

Hasn't that been long debunked much like the cellphones cause cancer scare?

[tcualum]

I do think that being that close to power lines affects resale. They are unsightly and like the previous poster some people (I don't.) worry about health issues.