Phase 1 or bust?

A

abosch00

New member
For those here who have purchased new construction, is the general consensus that you gotta buy in the early phases, or you're just screwed because of all the price increases?

Is it worth it to wait for future phases for your desired lot, location, or just scoop up something in the first few phases so prices don't get out of control?

I guess it varies from community to community, but I often see $100-$200k differences between the initial phase and the current phase pricing and that just makes me not want to buy knowing I missed out.  Have there been stories of people camping outside grand openings so they're first in line to get in on early pricing and lots?

 
These days it's no longer camping out, it's more of getting prequal, some goes by time stamp, others are unknown

Also depends on the community on price increases.  Some BP houses are lower now than initial opening
 
It's completely worth it.  The construction trucks coming by your house at 5a is a bit of a pain but it only lasts 1-1.5 years max, then you'll completely forget about it and be grateful for your equity.

I bought a house in Phase 1 where the house next to me was an empty lot and we heard hammers and saws going next to our master bedroom early in the morning for many months.  But honestly once it's done you forget all about it and you have the last laugh.
 
aquabliss said:
It's completely worth it.  The construction trucks coming by your house at 5a is a bit of a pain but it only lasts 1-1.5 years max, then you'll completely forget about it and be grateful for your equity.

I bought a house in Phase 1 where the house next to me was an empty lot and we heard hammers and saws going next to our master bedroom early in the morning for many months.  But honestly once it's done you forget all about it and you have the last laugh.
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it worked out for you because Pavillion Park prices increased from Phase I. 

Even for Capella where prices dropped from Phase I, it worked out for Paris because she got a lot that she wanted.

If you are a Phase I buyer in Beacon Park Silvermist, Rosemont, or other developments that are not selling well then you paid too much and you have to put up with the construction.  This is what happened at Quintana, prices dropped more than $100K from Phase 1.

Hence there is no guarantee that the price will go up phase to phase.  If you really like a lot in the future phase wait for it.  Even if the price have increased some of that is for the desired lot.  If the future lots are same like in the current jusy buy now and deal with the rest as they come.
 
abosch00 said:
For those here who have purchased new construction, is the general consensus that you gotta buy in the early phases, or you're just screwed because of all the price increases?

Is it worth it to wait for future phases for your desired lot, location, or just scoop up something in the first few phases so prices don't get out of control?

I guess it varies from community to community, but I often see $100-$200k differences between the initial phase and the current phase pricing and that just makes me not want to buy knowing I missed out.  Have there been stories of people camping outside grand openings so they're first in line to get in on early pricing and lots?
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It's worth the wait for the right lot, if the lot you're waiting for is much different than what's currently being offered.  The prices shouldn't get out of control from a % standpoint.  Get into the house that makes you feel good about purchasing.
 
Sometimes later phases have more desirable locations.
 
Sorry, where is Quintana? I have seen Quintana mentioned twice in recent posts. Thanks

Irvine Dream said:
aquabliss said:
It's completely worth it.  The construction trucks coming by your house at 5a is a bit of a pain but it only lasts 1-1.5 years max, then you'll completely forget about it and be grateful for your equity.

I bought a house in Phase 1 where the house next to me was an empty lot and we heard hammers and saws going next to our master bedroom early in the morning for many months.  But honestly once it's done you forget all about it and you have the last laugh.
Click to expand...
it worked out for you because Pavillion Park prices increased from Phase I. 

Even for Capella where prices dropped from Phase I, it worked out for Paris because she got a lot that she wanted.

If you are a Phase I buyer in Beacon Park Silvermist, Rosemont, or other developments that are not selling well then you paid too much and you have to put up with the construction.  This is what happened at Quintana, prices dropped more than $100K from Phase 1.

Hence there is no guarantee that the price will go up phase to phase.  If you really like a lot in the future phase wait for it.  Even if the price have increased some of that is for the desired lot.  If the future lots are same like in the current jusy buy now and deal with the rest as they come.
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fe9000 said:
Sorry, where is Quintana? I have seen Quintana mentioned twice in recent posts. Thanks

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Sorry, I meant Quinterra?  It was a Taylor Morisson development in Portola Springs with floor plans somewhat similar to but slightly smaller than Capella.
 
abosch00 said:
For those here who have purchased new construction, is the general consensus that you gotta buy in the early phases, or you're just screwed because of all the price increases?
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We bought in the first phase for the very first time recently. What we didn't realize is that the first phase home owners are the guinea pigs of the community. The builder doesn't have the production process figured out so you will experience multiple prolonged delays. Be prepared for a long wait. The builders and buyers often find flaws with the design in the early phases so, unless they are recycling an old design, you might get a version with flaws that a later phase doesn't have. Lastly, as mentioned earlier, although the later phases are more expensive they are often in a better location or have better lot.

I'd recommend that if you want to get in on the first phase that you wait until a couple of phases in. The price wouldn't have gone up that much and all the kinks have been worked out.
 
jmoney74 said:
Sometimes later phases have more desirable locations.
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yes sometimes but with capella the early phases were selling the orchard view lots with no neighbor behind you for NO premium price. So we technically got a view lot for 1.29 vs the later phases with the "no neighbor behind you" view lots were selling for $1.4 and those interior lots with homes looking directly into your house were sold at a discount in the $1.25 to $1.3 range because it was obvious they had trouble moving those. So I'm glad we bought a desirable location in the early phase because I didn't have to pay a premium for that view lot. I'm sure now looking back TayMo would have known that they should have sold the interior undesirable lots in the early phases first and then moved onto the view lots with a premium price tagged onto all of them. Oh well, their mistake but I'm not complaining  :)
 
It depends on the development. I bought in a later phase and paid less than Phase I buyers. Many developers save the better lots for later phases as well. Like most things in life there is no simple answer.
 
paperboyNC said:
It depends on the development. I bought in a later phase and paid less than Phase I buyers. Many developers save the better lots for later phases as well. Like most things in life there is no simple answer.
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which community were you?

 
we waited 10 phases getting the lot that we wanted even though we were offered from sales to purchase phase 1. but the price merely increased by 3k for our phase, and the lot size is bigger too. but yes we did pester sales like  every other week as Irvine Dream so we never lost our spot on the list.
 
Agree with previous post regarding lot size adjustments as well as location (ie. CDS).  Wife and I purchased in phase 3, wanted north facing front door and neighbors behind have large lots as well (not true in later phases so wouldn't be surprised to see later phase go for lower prices.)
 
Excellent points that have already mentioned.  My take is that it depends on what your plans are with the home.  If you plan to sell fairly quick, say 1-3ish years, then sure, an early phase home may get you a higher price.  However fast forward several more years, and that point, it's all about location, location, location.............and lot size. 
 
scooter said:
Excellent points that have already mentioned.  My take is that it depends on what your plans are with the home.  If you plan to sell fairly quick, say 1-3ish years, then sure, an early phase home may get you a higher price.  However fast forward several more years, and that point, it's all about location, location, location.............and lot size.
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So regarding lots/location, of course no neighbors to either side, or behind you is the best.  But would someone prefer backing into a neighborhood street vs having a house behind you especially with the small 10ft setbacks these days?  Does backing into a neighborhood street warrant any premium?



 
abosch00 said:
scooter said:
Excellent points that have already mentioned.  My take is that it depends on what your plans are with the home.  If you plan to sell fairly quick, say 1-3ish years, then sure, an early phase home may get you a higher price.  However fast forward several more years, and that point, it's all about location, location, location.............and lot size.
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So regarding lots/location, of course no neighbors to either side, or behind you is the best.  But would someone prefer backing into a neighborhood street vs having a house behind you especially with the small 10ft setbacks these days?  Does backing into a neighborhood street warrant any premium?
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If there is a greenbelt + a sidewalk between your wall and the street, and it's not a major artery of the neighborhood (where not every homeowner has to get in and out via that street), then yes, it's  a huge premium.

Whether or not it fetches a huge price premium, your quality of life is much different when you can leave your windows and slider uncovered without worrying about nosy neighbors peering in.  Also your natural light increases greatly not just because you don't have houses behind you to block it, but because you're letting it all in.
 
aquabliss said:
[
So regarding lots/location, of course no neighbors to either side, or behind you is the best.  But would someone prefer backing into a neighborhood street vs having a house behind you especially with the small 10ft setbacks these days?  Does backing into a neighborhood street warrant any premium?
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How much negative premium for backing on to neighborhood street (without green belt) in comparison to backing to a house with 10 feet setback?  Not a major artery but say  most of the residences for your development will be using that street.
 
It's just me but I would not discount it. If I have two to pick, and priced the same, I pick backing on to neighborhood street.


Irvine Dream said:
aquabliss said:
[
So regarding lots/location, of course no neighbors to either side, or behind you is the best.  But would someone prefer backing into a neighborhood street vs having a house behind you especially with the small 10ft setbacks these days?  Does backing into a neighborhood street warrant any premium?
Click to expand...

How much negative premium for backing on to neighborhood street (without green belt) in comparison to backing to a house with 10 feet setback?  Not a major artery but say  most of the residences for your development will be using that street.
Click to expand...
 
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