Mt Prospect in North Potomac

[Anonymous]

Anonymous wrote:Agree with above...1.3m is high to begin with even if Wootton...especially for starting price with the school uncertainty. Not sure what they are thinking. If schools change like everyone anticipates, the initial buyers will be screwed with resale.
I live in the area and everyone I talk to agrees that the uncertainty is not worth the base price assuming 10-20% added for upgrades. Who’s going to buy a 1.3M house without upgrades?? I’m going to wait it out now

1.3m is high, agreed. But regardless of the school district, 1-1.1m for the others is more compelling considering new construction in the general area is 1) tough to come by and 2) generally starts at 900k for a lennar type home. It's a real bummer they won't have a pool in that development.

[Anonymous]

The Renwick is listed at over 1.3M but at Linden Grove, same model is 940k. A 360k+ difference for location and school. If school changes it will be a problem. Also, phase 2 won’t open for a few years...if schools change, they will drop price and those who bought in phase 1 get screwed. It’s definitely a gamble.

[Anonymous]

Anonymous wrote:The Renwick is listed at over 1.3M but at Linden Grove, same model is 940k. A 360k+ difference for location and school. If school changes it will be a problem. Also, phase 2 won’t open for a few years...if schools change, they will drop price and those who bought in phase 1 get screwed. It’s definitely a gamble.

Good point about phase 2. Is Phase 2 also SFHs?

As for price difference of the Renwick, that's not a surprise and I don't know how relevant that is. My DH and I were looking at the Caruso homes off Riffleford. Same house in PG county would have been almost $400k+ less. Linden Drove is near Mt Airy - middle of nowhere. You're comparing apples and oranges.

[Anonymous]

Yes, but the options and upgrade prices should be comparable to Linden Grove. To charge 25k for finished basement at Linden Grove vs 50k in Mt Prospect would not be fair. I’m working on getting the details and will report back soon.

[Anonymous]

60k to convert the den to an extra bedroom on the first floor??? Come on, that crazy!

[Anonymous]

What happened to the original thread? Did Toll request for it to be taken down?

[Anonymous]

Anonymous wrote:60k to convert the den to an extra bedroom on the first floor??? Come on, that crazy!

Where do you see that?

[Anonymous]

Anonymous wrote:

Anonymous wrote:60k to convert the den to an extra bedroom on the first floor??? Come on, that crazy!

Where do you see that?

I was told the prices of some upgrades when I visited one of their other developments. Assuming the structural upgrade costs will be similar. Some prices like for prep kitchen were reasonable while others didn’t make any sense

[Anonymous]

Anonymous wrote:I wouldn't forget that the MCPS equity rezoning initiatives are a real risk to this location. I think its very likely that this area could get rezoned from Wootten to Northwest or Quince Orchard. I could easily see a scenario where students at QO get sent to Gaithersburg HS to balance out the Farms and this area gets sent to QO which is much closer. The other scenario would be moving this area to Northwest HS. Houses just down the road off Turkey Foot are zoned for Northwest. There is a huge price bump for being in the Wootten cluster over QO. There is even a price bump for being in QO over NW.

A 10% loss on a 1.3M home is a pretty big loss, not to mention that 1.3 is a hard sell in this area even with it being in Wootton. Now add in the smaller pool of buyers being hit by the financial recession and the economic hit to MOCO which will be much bigger than to NOVA based on the tax base, industries impacted and level of existing financial problems and you have a pretty bad situation.

If I were the developers I would stop, wait and reassess but they may not be able to do this financially so they are hoping someone else will make a bad decision.

No never going to be NW HS. That’s ridiculous way too hard for busing.

As for QO maybe.

[Anonymous]

QO makes much more sense. It’s only about 1-2 miles away whereas wootton is closer to 3-4.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:60k to convert the den to an extra bedroom on the first floor??? Come on, that crazy!

Where do you see that?

I was told the prices of some upgrades when I visited one of their other developments. Assuming the structural upgrade costs will be similar. Some prices like for prep kitchen were reasonable while others didn’t make any sense

Curious what other types of costs did you see/recall?

[Anonymous]

Anonymous wrote:Yes, but the options and upgrade prices should be comparable to Linden Grove. To charge 25k for finished basement at Linden Grove vs 50k in Mt Prospect would not be fair. I’m working on getting the details and will report back soon.

25k finished basement is unheard of for new construction in moco. It’s more likely in the 40-60k for full finished including bathroom.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yes, but the options and upgrade prices should be comparable to Linden Grove. To charge 25k for finished basement at Linden Grove vs 50k in Mt Prospect would not be fair. I’m working on getting the details and will report back soon.

25k finished basement is unheard of for new construction in moco. It’s more likely in the 40-60k for full finished including bathroom.

I’m naive when it comes to these things, but are you saying that the cost to do a basement in moco is more expensive than the cost if the same house was in a cheaper area? I would think replacing a water heater or installing cabinets would cost the same regardless of location, so wouldn’t that apply to finishing a basement on an identical house despite the location?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes, but the options and upgrade prices should be comparable to Linden Grove. To charge 25k for finished basement at Linden Grove vs 50k in Mt Prospect would not be fair. I’m working on getting the details and will report back soon.

25k finished basement is unheard of for new construction in moco. It’s more likely in the 40-60k for full finished including bathroom.

I’m naive when it comes to these things, but are you saying that the cost to do a basement in moco is more expensive than the cost if the same house was in a cheaper area? I would think replacing a water heater or installing cabinets would cost the same regardless of location, so wouldn’t that apply to finishing a basement on an identical house despite the location?

I can only speak for what I’ve personally seen in moco and even in nova (Lorton) for new construction.

The 40-60k number is all in including finishing the ref room, the spare bedroom(s), full bathroom and plumbing for a wet bar. 20-25k is typical for just finishing the rec room area. Does the 25k number include all in or just partial finishing?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes, but the options and upgrade prices should be comparable to Linden Grove. To charge 25k for finished basement at Linden Grove vs 50k in Mt Prospect would not be fair. I’m working on getting the details and will report back soon.

25k finished basement is unheard of for new construction in moco. It’s more likely in the 40-60k for full finished including bathroom.

I’m naive when it comes to these things, but are you saying that the cost to do a basement in moco is more expensive than the cost if the same house was in a cheaper area? I would think replacing a water heater or installing cabinets would cost the same regardless of location, so wouldn’t that apply to finishing a basement on an identical house despite the location?

I can only speak for what I’ve personally seen in moco and even in nova (Lorton) for new construction.

The 40-60k number is all in including finishing the ref room, the spare bedroom(s), full bathroom and plumbing for a wet bar. 20-25k is typical for just finishing the rec room area. Does the 25k number include all in or just partial finishing?

Sorry, miscommunication I think. What was being said is that the prices should be comparable for the upgrades...wasn’t saying it’s 25k at Linden Grove, but rather the concept that if something is a certain price there, it should be same at Mt Prospect for the identical home. So it would be nice to see the upgrade costs from Linden to get a concept of the price Mt Prospect will charge. It would not be fair to charge double just because of location (in my opinion).