Your experiences in buying/building a home

So, I am going to be moving from Virginia back to Texas in the next year (the Dallas/Fort Worth area). Spare me the Texas jokes. Yeah, it has its problems but I like it there. It isn't where I plan to spend the rest of my life but I will be living there for the next 12 years or so. The main reason for moving there is so my children can be close to their grandparents and other extended family.

You can also get a lot more bang for your buck real-estate-wise in Texas. Which brings me to the point of this thread. I want at least 5 acres, two-story house with 4 bedrooms and an office. We're looking for something in the $500,000 - $850,000, though we can go higher if it really impresses us. But this is all new to us as we have always rented. My company is doing well and I would finally like to leave the world of apartments and crowded suburbs behind.

What I can't seem to make my mind up on is whether to build a custom home or buy one already built/used. I have heard having a house built is a huge headache. But I also wonder how easy it will be for us to find that perfect house given the amount of land we would like it to be sitting on. Wouldn't it make sense to find the perfect plot and then build the house you want? But then why don't most people do that? Is building from scratch THAT much more expensive? How long does it usually take to build a residential home?

Like I said, I am a newb to this so I am hoping to hear about some experiences you have all had in building/buying your house. Thanks!

BrewerBob said:

So, I am going to be moving from Virginia back to Texas in the next year (the Dallas/Fort Worth area). Spare me the Texas jokes. Yeah, it has its problems but I like it there. It isn't where I plan to spend the rest of my life but I will be living there for the next 12 years or so. The main reason for moving there is so my children can be close to their grandparents and other extended family.

You can also get a lot more bang for your buck real-estate-wise in Texas. Which brings me to the point of this thread. I want at least 5 acres, two-story house with 4 bedrooms and an office. We're looking for something in the $500,000 - $850,000, though we can go higher if it really impresses us. But this is all new to us as we have always rented. My company is doing well and I would finally like to leave the world of apartments and crowded suburbs behind.

What I can't seem to make my mind up on is whether to build a custom home or buy one already built/used. I have heard having a house built is a huge headache. But I also wonder how easy it will be for us to find that perfect house given the amount of land we would like it to be sitting on. Wouldn't it make sense to find the perfect plot and then build the house you want? But then why don't most people do that? Is building from scratch THAT much more expensive? How long does it usually take to build a residential home?

Like I said, I am a newb to this so I am hoping to hear about some experiences you have all had in building/buying your house. Thanks!

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Don't build unless you are either a professional or have a lot of time and nerves. Better buy a finished house and contract an independent engineer to check for hidden problems.

Zillow is your friend.

That being said, I would think you need to ask yourself if you have the time to devote to building a house? Are you prepared to apply yourself to all those myriad details as far as selection of cabinets, fixtures, colors and whatnot? Do you have the patience to deal with a general contractor and all the various subs failing to meet deadlines or with cost overrides? Do you know people in the area who can give you good advice as far as selecting a builder?

Seems to me if you have that much money to plunk down on a house in that particular location, you shouldn't have to build one unless either you or your wife are so obsessed with each and every little detail that you feel you have exercise complete control. If you are not like that by temperament, I would think buying an existing house would be the way to go.

from zillow/ft worth:

The median home value in Dallas-Fort Worth Metro is $173,100. Dallas-Fort Worth Metro home values have gone up 15.2% over the past year and Zillow predicts they will rise 6.2% within the next year

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it is now a sellers' market
that might cause me to consider building. but are you comfortable selecting a reputable general contractor?
you do not plan on retiring in this home, so will your unique requirements cause it to have a limited re-sell market? a two-story home will not be very desirable to an older couple ... and it is older couples who typically have the money to buy up-scale homes

recognize that the orientation of the five-acre home site may impact what can/should be built there (assuming you want to optimize heating/cooling factors). what is already built in that neighborhood might also impact the style and materials you need to use - if you want your home to conform to others in the community

find the best realtor
best appraiser
best RE attorney
best home inspector
best architect
in the DFW and start having conversations with them

before doing so, you and your wife should begin a file of home plans. trying not to do so in terms of 'rooms' but with respect to what your 'needs/uses' will be. that will allow you to recognize which areas need to be aligned with other use areas, such as eating area being adjacent to cooking area. this will be especially helpful to your designer. as will any particular 'feel' you want: warm, open, conventional, modern, elegant, etc

... if you have school age children, the school district they would be attending may be a significant factor in your choice/availability of mini-ranch locale

good luck with your move

FWIW, it's a sellers's market right now.

BrewerBob said:

So, I am going to be moving from Virginia back to Texas in the next year (the Dallas/Fort Worth area). Spare me the Texas jokes. Yeah, it has its problems but I like it there. It isn't where I plan to spend the rest of my life but I will be living there for the next 12 years or so. The main reason for moving there is so my children can be close to their grandparents and other extended family.

You can also get a lot more bang for your buck real-estate-wise in Texas. Which brings me to the point of this thread. I want at least 5 acres, two-story house with 4 bedrooms and an office. We're looking for something in the $500,000 - $850,000, though we can go higher if it really impresses us. But this is all new to us as we have always rented. My company is doing well and I would finally like to leave the world of apartments and crowded suburbs behind.

What I can't seem to make my mind up on is whether to build a custom home or buy one already built/used. I have heard having a house built is a huge headache. But I also wonder how easy it will be for us to find that perfect house given the amount of land we would like it to be sitting on. Wouldn't it make sense to find the perfect plot and then build the house you want? But then why don't most people do that? Is building from scratch THAT much more expensive? How long does it usually take to build a residential home?

Like I said, I am a newb to this so I am hoping to hear about some experiences you have all had in building/buying your house. Thanks!

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Har.com started covering all of Texas just a few months ago, I did a quick search on you criteria.
Dallas Real Estate & Homes for Sale - HAR.com

When you want land . . . ask yourself WHY you want land.

I wanted land - and all it's done is bring me trouble by having to maintain it and keep it under the county's anti-brushfire requirements.

Given a choice I'd build another house. The only downside to this might be the "well, I wish I had done this instead of that" moments. So planning and the ability to envision the completed project, imo, are crucial. And some of us are definitely better at this than others.

They only people qualified to have their own house built are those who have done it and typically they are happy and don't want to do it again.

While working on our house, we walked through very high end homes being built and saw how crappy the workmanship and supplies they used--plumbing that was too narrow, for example or uneven steps on stairs.

Aunt Spiker said:

When you want land . . . ask yourself WHY you want land.

I wanted land - and all it's done is bring me trouble by having to maintain it and keep it under the county's anti-brushfire requirements.

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Excellent point. My reasons are:

1. I don't want to see neighbors.
2. I don't want to hear neighbors.
3. I enjoy astronomy.
4. I want to be able to fly my quadcopters/drones without bothering anyone.
5. I want plenty of room for my kids to play.

I have spent my entire adult life living in very large cities. I'm done with that. My parents have a good chunk of land and when I visit I am at peace just sitting on their porch in a way I never am in the city. Upkeep is a very good point, though. My wife enjoys gardening so she will do some of it but for the more tedious stuff I will hire help. Or put my boys to work.

THE most important thing, though is the kids' school. It is possible we will have to make some sacrifices on the house/land to get the school we want.

BrewerBob said:

So, I am going to be moving from Virginia back to Texas in the next year (the Dallas/Fort Worth area). Spare me the Texas jokes. Yeah, it has its problems but I like it there. It isn't where I plan to spend the rest of my life but I will be living there for the next 12 years or so. The main reason for moving there is so my children can be close to their grandparents and other extended family.

You can also get a lot more bang for your buck real-estate-wise in Texas. Which brings me to the point of this thread. I want at least 5 acres, two-story house with 4 bedrooms and an office. We're looking for something in the $500,000 - $850,000, though we can go higher if it really impresses us. But this is all new to us as we have always rented. My company is doing well and I would finally like to leave the world of apartments and crowded suburbs behind.

What I can't seem to make my mind up on is whether to build a custom home or buy one already built/used. I have heard having a house built is a huge headache. But I also wonder how easy it will be for us to find that perfect house given the amount of land we would like it to be sitting on. Wouldn't it make sense to find the perfect plot and then build the house you want? But then why don't most people do that? Is building from scratch THAT much more expensive? How long does it usually take to build a residential home?

Like I said, I am a newb to this so I am hoping to hear about some experiences you have all had in building/buying your house. Thanks!

Click to expand...

I wouldn't recommend building your own. You really need to be the Super on the job to keep a close eye on the contractors. They will try to cut corners to maximize profit. Cut corners you may not see for a year or more. Better to buy a nice home and pay the $1000. or so to a good Home Inspector. Good luck and congrats!

Aunt Spiker said:

When you want land . . . ask yourself WHY you want land.

I wanted land - and all it's done is bring me trouble by having to maintain it and keep it under the county's anti-brushfire requirements.

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I have half an acre, neighbor has 3.5. He spends a LOT of time on the pasture, the trees, the leaves, etc.
It isn't so much the acreage but what previous owners did to it, and that was planting too many trees. During the summer months we can barely see his house for all the trees around it.
If I had 5 acres, 99% of the landscaping would be at the property lines, for privacy and to make it easy to mow the grass.

Make sure that the general contractor pays his subs.....if he fails to pay them, they can file liens on your house even though you paid the general contractor. You will be new to the area and might not know who to trust.
Inspect the work every day. My SIL was our general contractor, but things went awry with the subs that he didn't catch.
Make sure all contractors know that building codes are the MINIMUM standards and that you won't accept those who say they will build "TO CODE" and then quote prices based on square footage of the structure.
Building your own allows you to include energy efficiency added up front, which is cheaper than doing it later.
But a lot of those efficiencies are far too expensive to realize a reasonable payback period.

BrewerBob said:

So, I am going to be moving from Virginia back to Texas in the next year (the Dallas/Fort Worth area). Spare me the Texas jokes. Yeah, it has its problems but I like it there. It isn't where I plan to spend the rest of my life but I will be living there for the next 12 years or so. The main reason for moving there is so my children can be close to their grandparents and other extended family.

You can also get a lot more bang for your buck real-estate-wise in Texas. Which brings me to the point of this thread. I want at least 5 acres, two-story house with 4 bedrooms and an office. We're looking for something in the $500,000 - $850,000, though we can go higher if it really impresses us. But this is all new to us as we have always rented. My company is doing well and I would finally like to leave the world of apartments and crowded suburbs behind.

What I can't seem to make my mind up on is whether to build a custom home or buy one already built/used. I have heard having a house built is a huge headache. But I also wonder how easy it will be for us to find that perfect house given the amount of land we would like it to be sitting on. Wouldn't it make sense to find the perfect plot and then build the house you want? But then why don't most people do that? Is building from scratch THAT much more expensive? How long does it usually take to build a residential home?

Like I said, I am a newb to this so I am hoping to hear about some experiences you have all had in building/buying your house. Thanks!

Click to expand...

Your price range is out of my league.

I can't believe you're leaving a beautiful state like Virginia to move back to the DFW area. It has rain, snow, mountains, lakes. DFW has a good economy, but geez, it's not known for being a very pretty place. And it's so stifling hot. But COL is COL. I'm moving, too, for COL.

When we moved to Georgia from the Chicago burbs we had a house built. We made several trips here to do research. We looked at a lot of homes and found one we really liked. It was a reputable builder, we made a couple of small changes and left it to the builder. It wasn't done on time so we ended up in a rental for a few months after arriving, but other than that it was good. Well built, exactly what we asked for.

The trouble was we had no idea what we wanted. We built in a neighborhood on an acre of land, which was a lot for us. I hated it. 2-3 hours a week cutting grass. What a waste of time. Now we live up on a mountain ridge, I spend 45 with a weed eater about every third week and I have 20 acres of woods to walk around on. I recommend buying something somewhat less (but adequate) and seeing where it takes you. Up there I was a competitive cyclist (time trial). After moving here I took up ballistics and shoot quite a bit. Couldn't do that in the neighborhood we lived in. Who knew? Moving changed our focus. Now I spend less time maintaining a yard and more time on my home range.

JumpinJack said:

Your price range is out of my league.

I can't believe you're leaving a beautiful state like Virginia to move back to the DFW area. It has rain, snow, mountains, lakes. DFW has a good economy, but geez, it's not known for being a very pretty place. And it's so stifling hot. But COL is COL. I'm moving, too, for COL.

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Virginia IS beautiful. But Texas is home. And it really is about the kids at this point. I grew up close to my grandparents and it made for a memorable childhood. I want my kids to have that. Of course, once the kids are grown and out of the house my wife and I can be completely selfish. I am thinking somewhere scenic in Wyoming.

BrewerBob said:

So, I am going to be moving from Virginia back to Texas in the next year (the Dallas/Fort Worth area). Spare me the Texas jokes. Yeah, it has its problems but I like it there. It isn't where I plan to spend the rest of my life but I will be living there for the next 12 years or so. The main reason for moving there is so my children can be close to their grandparents and other extended family.

You can also get a lot more bang for your buck real-estate-wise in Texas. Which brings me to the point of this thread. I want at least 5 acres, two-story house with 4 bedrooms and an office. We're looking for something in the $500,000 - $850,000, though we can go higher if it really impresses us. But this is all new to us as we have always rented. My company is doing well and I would finally like to leave the world of apartments and crowded suburbs behind.

What I can't seem to make my mind up on is whether to build a custom home or buy one already built/used. I have heard having a house built is a huge headache. But I also wonder how easy it will be for us to find that perfect house given the amount of land we would like it to be sitting on. Wouldn't it make sense to find the perfect plot and then build the house you want? But then why don't most people do that? Is building from scratch THAT much more expensive? How long does it usually take to build a residential home?

Like I said, I am a newb to this so I am hoping to hear about some experiences you have all had in building/buying your house. Thanks!

Click to expand...

depending on what you want, housing outside major cities in texas is often cheaper than most states. But if you want to build a house here, the costs can be rediculous in any developed area, often way more than buying the same type house already built. In undeveloped areas off the grid land can be bought fairly cheap so long as you are willing to build a house miles from a major city, and possibly from the power grid and water supply.

Some people here build self sustained houses off the grid, others pay to have utilities run to them, but extremely few pay to have a house built in a developed area except people who own large housing tracts, this is simply because the cost of land, permits etc skyrockets for small scale building, while building them in bulk for sale or rent is more cost effective and profitable.

BrewerBob said:

So, I am going to be moving from Virginia back to Texas in the next year (the Dallas/Fort Worth area). Spare me the Texas jokes. Yeah, it has its problems but I like it there. It isn't where I plan to spend the rest of my life but I will be living there for the next 12 years or so. The main reason for moving there is so my children can be close to their grandparents and other extended family.

You can also get a lot more bang for your buck real-estate-wise in Texas. Which brings me to the point of this thread. I want at least 5 acres, two-story house with 4 bedrooms and an office. We're looking for something in the $500,000 - $850,000, though we can go higher if it really impresses us. But this is all new to us as we have always rented. My company is doing well and I would finally like to leave the world of apartments and crowded suburbs behind.

What I can't seem to make my mind up on is whether to build a custom home or buy one already built/used. I have heard having a house built is a huge headache. But I also wonder how easy it will be for us to find that perfect house given the amount of land we would like it to be sitting on. Wouldn't it make sense to find the perfect plot and then build the house you want? But then why don't most people do that? Is building from scratch THAT much more expensive? How long does it usually take to build a residential home?

Like I said, I am a newb to this so I am hoping to hear about some experiences you have all had in building/buying your house. Thanks!

Click to expand...

Realtor here.

My advice is to buy a used home. It is the difference in buying RETAIL from a builder or WHOLESALE from a homeowner, to put it in easier to understand terms. You would not be buying in a subdivision. You would be hiring a general contractor to build you one house on one lot. Absolutely no economy of scale. And YOU with absolutely no leverage and at the mercy of a GC who likely sees you as a nuisance on your 5-acre plot.

Next, your new home will be taxed at full boat rate by the assessor for real estate tax purposes. Used homes? Not that way. So your real estate taxes on a used home will be considerably less. So that's that.

Beware for those reasons.

I question why you are going from renting to buying a $500,000 home. That sounds, frankly, incredulous.

MaggieD said:

Realtor here.

My advice is to buy a used home. It is the difference in buying RETAIL from a builder or WHOLESALE from a homeowner, to put it in easier to understand terms. You would not be buying in a subdivision. You would be hiring a general contractor to build you one house on one lot. Absolutely no economy of scale. And YOU with absolutely no leverage and at the mercy of a GC who likely sees you as a nuisance on your 5-acre plot.

Next, your new home will be taxed at full boat rate by the assessor for real estate tax purposes. Used homes? Not that way. So your real estate taxes on a used home will be considerably less. So that's that.

Beware for those reasons.

I question why you are going from renting to buying a $500,000 home. That sounds, frankly, incredulous.

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Very good information. Thanks. As for going from renting to a house in that price range? I retired from a career in the Army a few years ago. While in the Army I was most overseas living in capital cities in embassy owned housing. My last assignment, however, was stateside in the DC area. I used my housing allowance to get a place in the Fairfax area of Virginia. When I retired I just stayed in the same rental house so the kids wouldn't have to move schools. Since retiring I have built a successful consulting company. Very little overhead but lots of traveling. I also saved a good chunk of my paycheck during my 20 years in the military.

I've been fortunate.

BrewerBob said:

Very good information. Thanks. As for going from renting to a house in that price range? I retired from a career in the Army a few years ago. While in the Army I was most overseas living in capital cities in embassy owned housing. My last assignment, however, was stateside in the DC area. I used my housing allowance to get a place in the Fairfax area of Virginia. When I retired I just stayed in the same rental house so the kids wouldn't have to move schools. Since retiring I have built a successful consulting company. Very little overhead but lots of traveling. I also saved a good chunk of my paycheck during my 20 years in the military.

I've been fortunate.

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It is a wonderful thing in life to be blessed -- and know that you are.

BrewerBob said:

Very good information. Thanks. As for going from renting to a house in that price range? I retired from a career in the Army a few years ago. While in the Army I was most overseas living in capital cities in embassy owned housing. My last assignment, however, was stateside in the DC area. I used my housing allowance to get a place in the Fairfax area of Virginia. When I retired I just stayed in the same rental house so the kids wouldn't have to move schools. Since retiring I have built a successful consulting company. Very little overhead but lots of traveling. I also saved a good chunk of my paycheck during my 20 years in the military.

I've been fortunate.

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Builder here.

I'm biased, obviously, toward building new because that way you can get exactly what you want.

Your plans sound an awful lot like the house I live in - but I'm a few states north of Texas.

You can get a nice house either way - by building or by buying - but if you're looking for a specific piece of land - you might have to buy acreage in the location you link and then build to suit.

When you're shopping for a builder, make sure you get a custom builder, not a builder that just slaps up row after row of crackerbox houses, like those in the newer subdivisions.

You'll find that building code is more relaxed as you get out away from the city. I picked up 80 acres and built our personal home 17 years ago. Five bedroom, four baths. I use one of the bedrooms as an office since the kids are gone now.

The building process is a tricky one. If you're planning on financing some of the cost, you'll have to get a construction loan and the contractor will make draws as necessary. You'll also need a builder's insurance policy during the construction phase.

If you're going to buy a lot of land, try to get it on the farm rolls to keep from paying high property taxes. Originally, when I bought my land, I had a farmer plant on it, but in the last few years, I've taken that over. Definitely have your builder put in an upper deck where you can put your telescope. If you're building - get exactly what you want. And, you don't need an architect to draw up the plan - at least not at first. A good contractor can draft one for you, based on your wants - and then - depending on codes, you may or may not have to have a set of official blueprints.