Katy - Cinco Ranch SW - 86$ Sq.ft (home, closing)

[ZeroTX]

Originally Posted by cla

I am with you. My gross income isn't equivalent to the sale price of my home, but it's darn close and in a few more years it will be. I bought the home I needed - not the home the bank said I qualified for. After living in homes ranging from 700 s.f to 1600 s.f., I find my 2000 s.f. home to be more than big enough.

Ditto on all points.

[chris_ut]

Originally Posted by ZeroTX

How is my question being a jerk? It is an unusually expensive house for a first time buyer.

Taken by itself it might be harmless but in context with your numerous other "people who buy big houses in the suburbs are idiots, look how cool I am in my shack" posts it certainly does not.

[ZeroTX]

Originally Posted by chris_ut

Taken by itself it might be harmless but in context with your numerous other "people who buy big houses in the suburbs are idiots, look how cool I am in my shack" posts it certainly does not.

[Wysiwyg]

Originally Posted by cla

I am with you. My gross income isn't equivalent to the sale price of my home, but it's darn close and in a few more years it will be. I bought the home I needed - not the home the bank said I qualified for. After living in homes ranging from 700 s.f to 1600 s.f., I find my 2000 s.f. home to be more than big enough.

we bought a 2600 sf, just my wife and me. I was adviced by friends to visit the 2nd floor once in a while to see if somebody started living there.

[Russell27]

We are considering buying a home in Cinco Ranch (around gaston and cinco blvd) and builder is wanting $102/sqft for as home we are interested. It does have number of upgrades like all tile down stairs except for the bedroom. Granite counter top in the kitchen, covered patio and a media room upstairs. What would be a fair price fo this type of home. Any suggestion any one?

[sbhubbell]

That sounds pretty high to me, is it a new home or pre-owned? I bought a 2 year old home in the exact area you are talking about (behind Kilpatrick Elementary) back in August for $90/sq ft. My house is big though, 3600 ft and two stories, which does make a difference in price per square foot. I have all the upgrades you mentioned, except no covered patio. I would certainly have your realtor pull up the comps for the area.

[stratfordspartans]

Originally Posted by Russell27

We are considering buying a home in Cinco Ranch (around gaston and cinco blvd) and builder is wanting $102/sqft for as home we are interested. It does have number of upgrades like all tile down stairs except for the bedroom. Granite counter top in the kitchen, covered patio and a media room upstairs. What would be a fair price fo this type of home. Any suggestion any one?

Depends on the builder, how long its been sitting in inventory, lot type/size, etc. If you are serious and qualified to buy in the price range, then put in an offer 20% below list price, which is reasonable given the current economic situation. These builders are getting antsy about moving inventory especially with the tighter requirements in qualifying for a mortgage. They'll probably counter-offer at 15% but if you play your cards right you will get close to your original offer if not exact. Just my experience and two cents

[Ideo]

That's good price. Mine is $94 after all upgrades.

[Supermac34]

Originally Posted by Russell27

We are considering buying a home in Cinco Ranch (around gaston and cinco blvd) and builder is wanting $102/sqft for as home we are interested. It does have number of upgrades like all tile down stairs except for the bedroom. Granite counter top in the kitchen, covered patio and a media room upstairs. What would be a fair price fo this type of home. Any suggestion any one?

Still impossible to tell. So many factors. Is it custom or tract, etc.

[Rock Klam]

$86/sqft is better than $102/sqft... Then again, it depends on the upgrades, lot premium(if any), and the builder along with any incentives that are given to the buyer.
As for how much to spend on your first home... My answer would be whatever you can comfortably afford and qualify for.