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Frisco vs Prosper where to buy home as an investment

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  • Frisco vs Prosper where to buy home as an investment

    Hi,

    We are planning to buy a home and just started looking. We are considering either Frisco or Prosper. We want to buy a home which also acts as an investment. Can some suggest which one Frisco or Prosper is better that way and why? We are planning $600,000 max.

    Also can you guys suggest any good existing or upcoming communities we can look at?

    Thanks

  • #2
    If you want an investment, never buy new. Resale homes are 15-20% lower per square foot. At the 600K max range appreciation TENDS to be slower than on lower priced homes (your experiences may vary). Commute Commute Commute will supplant Location Location Location as the RE catch phrase.

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    • #3
      You may have missed out on buying a home as an investment if you think it will happen in a short period. Collin County has gone up by 10% a year for the last 5 years. Might be time for an adjustment.
      There are 3 things that America will be remembered for 2000 years from now when they study this civilization: The Constitution, Jazz music, and Baseball. These are the 3 most beautiful things this culture's ever created. Gerald Early

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      • #4
        Originally posted by Mommyp View Post
        If you want an investment, never buy new. Resale homes are 15-20% lower per square foot.
        Great Point

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        • #5
          Prosper...hands down...but plan on 4-5 years to realize

          You can buy the same house....built by the same builder.......in Prosper and save $100K+

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          • #6
            Originally posted by whatsthat View Post
            Prosper...hands down...but plan on 4-5 years to realize

            You can buy the same house....built by the same builder.......in Prosper and save $100K+
            I figured it would be same price, interesting.

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            • #7
              Preliminary work already starting for the tollway extension.....and once extended to Celina......BOOM!

              2004 I purchased in NW Frisco back when the tollway ended at 121.......and since realized a 70% appreciation on our home.

              If you look up in Prosper/Celina along Frontier Road...both east and west of Preston......lots of GREAT communities and home builders offering BIG savings as compared to Frisco. Plus....you don't have the traffic congestion

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              • #8
                If this is a purchase for a rental home that is fine. If this is your primary home and your hoping to cash in down the road I wouldn't do that. This is not California. You have way too much land around here for developers to build on and that typically keeps home values in line. There may be spikes here and there. We have seen one recently but those are short lived until developers get going in that area again. Just buy a house in a neighborhood your like with the amenities you like and live in it.
                Buying a primary home as an investment and flipping them every couple of year is what got us to the financial meltdown back in 2008.

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                • #9
                  Originally posted by Geck View Post
                  If this is a purchase for a rental home that is fine. If this is your primary home and your hoping to cash in down the road I wouldn't do that. This is not California. You have way too much land around here for developers to build on and that typically keeps home values in line. There may be spikes here and there. We have seen one recently but those are short lived until developers get going in that area again. Just buy a house in a neighborhood your like with the amenities you like and live in it.
                  Buying a primary home as an investment and flipping them every couple of year is what got us to the financial meltdown back in 2008.
                  I have done it in Calf and now here in DFW.

                  In Calf I lived in a home 4 years and more than doubled my initial investment.

                  Did it here in Frisco and realized a 70% gain.

                  And each time I used the same strategy....by out a little and let the growth come to you.

                  BTW.......I was told the same thing when I bought in Frisco years ago...that I would never make money up there....

                  This NTX area is booming........give it 4-5 years and Prosper / Celina will be the new Frisco....and Frisco will be more like aging Plano

                  As for amenities.....these new communities in Prosper/Celina are offering amenities that you wont find common in Frisco.
                  Last edited by whatsthat; Yesterday, 08:32 AM.

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                  • #10
                    But you just stated you moved in your house in 2004, so that 70% gain is not in a few years but 13 years. As Geck stated, selling every couple of years for a big gain is probably not going to happen as much around here.
                    Here's a joke you might not laugh at:
                    All the poorest work the hardest for the smallest
                    Do what you got to do

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