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Thread: Buying first house on the block... Good investment?

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    Default Buying first house on the block... Good investment?

    Curious to know people's thoughts... First house on the block in a new development, the salesman claimed it's really smart since they price the first few houses way lower and that once the neighborhood is done, we should do well in terms of profit.... And as the lots sell, they raise the prices... Our lot is desirable, south facing, 30 second walk from the park, third house in from the corner...

    Is he theoretically correct?

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    I have been told that line before, but in my experience, it is a pressure tactic. Lot prices went up because of the boom or if there was crazy demand. The chances of the prices going up right now are pretty small as new home sales are WAY down, so there isn't a whole lot of demand.

    But, sometimes they will price the first a few % of homes lower, to help build the neighborhood so people that are interested next year will see the development instead of imagining it and entice the first people to come in before there are any parks and what not built.

    Honestly, I would not let it influence my decision either way.
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    Personally I would look at this the other way around.

    As the first on the block you have to deal with looking at empty lots, dirt hills, and the inevitable ponds full of mosquitoes. Also you will be the first to deal with headaches from Shaw, Telus, and other addressing related issues as these systems are updated.

    What is the value of this home and lot once the entire neighbourhood is complete. Now. How much is the builder compensating me for this temporary inconvenience.

    IMO anyway... Maybe Jordan can chime in?

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    I wouldn't say South facing is per say a 'good thing'. Its a personal preference and it depends what you want out of your outdoor space and lighting.

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    The price of the lots and homes are directly related to supply and demand.

    By the sales person logic demand is low now, cause its a dirt field, and they are expecting the demand to rise and therefore they can justify selling the lots/homes for more in the future.

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    Originally posted by OTown
    I wouldn't say South facing is per say a 'good thing'. Its a personal preference and it depends what you want out of your outdoor space and lighting.
    Word. Have south facing backyard now (which cost us a premium when we built) and its so hot in the backyard in the summer that we planted tress to create shade. Conversely our front yard gets no sun and it has snow/ice to contend with well into the spring.

    My next house will be south facing front yard if I have the choice. Less issues with snow/ice removal in the winter.

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    Originally posted by jacky4566

    As the first on the block you have to deal with looking at empty lots, dirt hills, and the inevitable ponds full of mosquitoes. Also you will be the first to deal with headaches from Shaw, Telus, and other addressing related issues as these systems are updated.
    Not to mention YEARS of construction noise starting at 7am (or earlier), and construction debris all over the place, driving over nails on a monthly basis, workers stealing your power and water.

    A co-worker had the 3rd house on his street, he said never again.

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    Protip: Salespeople always tell the customer "now is the best time to buy".

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    Lol, well local economy aside, it does make sense to me... But like a couple have mentioned, we'd have to put up with construction, our first home was the third house on the block so we've been through it before and didn't mind, we love not having neighbors for now.. We did good on our first house $$ wise but it was mainly because we bought late 2012 when the market has momentarily dipped quite a bit..

    I've been keeping an eye on our builder's quick possessions on their website and they are selling one now for a couple thousand more, same specs but on the end right beside the main road...so for now, at least they aren't asking less..

    Thanks for the inputs!
    Last edited by Sonic; 01-25-2017 at 02:42 PM.

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    corner lot = lots of cars being parked along the side of your house (Tenants & Extra Cars) and also keep in mind the developers "architectural control" = paying more to make your house more appealing from the side. I went with the 3rd house in oppose to the corner lot in my neighborhood.

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    Yup, ours is third one in.

    I don't understand the appeal of corner lots, more land I guess, but more bullshit to deal with.

    It's a double front garage home with a fire hydrant on the corner of our lot in front so no one can ever park in front of our house

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    Originally posted by jacky4566
    Personally I would look at this the other way around.

    As the first on the block you have to deal with looking at empty lots, dirt hills, and the inevitable ponds full of mosquitoes. Also you will be the first to deal with headaches from Shaw, Telus, and other addressing related issues as these systems are updated.
    Originally posted by Tik-Tok
    Not to mention YEARS of construction noise starting at 7am (or earlier), and construction debris all over the place, driving over nails on a monthly basis, workers stealing your power and water.

    A co-worker had the 3rd house on his street, he said never again.
    These are the first things that came to mind to me. You will have the oldest house on the block too.

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    Sub $55 oil, empty office towers, for sale signs on every street and we are still expanding as a city? We are a virus.

    Corner lots... more snow to clear from your two sidewalks. People walking by can now see in on two sides of the house. Extra road noise as you face out on two sides of the street. Taxes higher as well?

    First house built on a street... lots of flat tires for months until the area is finished. Noise from 7am to 9pm, seven days a week. Roofer noise has to be the worst... so many nails, music and yelling to workers on the ground. Have to wait to build a fence to share the cost if first in.
    Last edited by Tenkara Way; 01-25-2017 at 05:06 PM.

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    Let's just say this. 2nd last house I sold in Mahogany was 8 houses in. We sold for $810,000. The house at the front of the block sold for $598,000. Same style of house.

    I say no.
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    I would say no. My customer service rep told me a story about the first house built on our block in a new development. Besides all the dirt, noise, etc. He had mice. And tons of them. When they started digging up the ground it disturbed the field mice. They had no where to go but his house. The builder took care of everything though which was a positive.
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    It's also really tough to sell a "used" house in a neighborhood when the developer is still building brand new. People like to make their little customizations and feel like they have bought "brand new".

    Many bigger developments take five years or more to fully build out.
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    Default Re: Buying first house on the block... Good investment?

    Originally posted by Sonic
    the salesman claimed it's really smart
    If you do the opposite of what most sales people tell you, you usually end up doing well.

    Exceptions of course apply - for eg. if you know the sales rep.

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    Originally posted by Tik-Tok


    Not to mention YEARS of construction noise starting at 7am (or earlier), and construction debris all over the place, driving over nails on a monthly basis, workers stealing your power and water.

    A co-worker had the 3rd house on his street, he said never again.
    SOOOO MANY FLAT TIRES

    Definitely not worth it unless you are purchasing for the location, as mentioned, it will take YEARS for construction to stop. I don't know what bylaw is in Calgary, but in Edmonton, they can hammer away until god knows when (7pm or even later).

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    Between the loud noise at 7am (worked night shift a lot) and as said the flat tires.

    Tradys driving over our lawn, or parking in our yard. Smashing scaffolding against our house.

    Never again.

    I'd rather pay more and wait truthfully. It was a debacle to say the least for a year.

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    when I built my house it was the first on the block, I loved it I got to see all my neighbors come in and out and plus I was able to play with all my monster RC cars any where I wanted haha

    Another thing I liked was when it came time to build the fences my neighbor is in landscaping so he got all the wood at cost and we did 5 fences in 1 week both my sides and my side neighbors side plus 3 houses down from me it was an awesome time bonding with everyone

    The only problem I had was changing my air filter in the house like 5 times a month

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