Mt Prospect in North Potomac

[Anonymous]

Anonymous wrote:

Anonymous wrote:Site plans just got released today for phase 1.

Where? I see the same site plan that’s been on the Toll website since it launched a few months ago. Is there something new I’m missing?

It lays out the lots (on a map) by #s, SF, model name, etc. If I'm reading it correctly, the lot is tied to the model. Interestly, looks like the Hamlet lots are bigger than the slightly more expensive Orchard lots.

I noticed that the email said "SFH starting at 999,995".

I guess it's a good thing that they dropped the starting prices...granted by $5, but still. lol

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Site plans just got released today for phase 1.

Where? I see the same site plan that’s been on the Toll website since it launched a few months ago. Is there something new I’m missing?

It lays out the lots (on a map) by #s, SF, model name, etc. If I'm reading it correctly, the lot is tied to the model. Interestly, looks like the Hamlet lots are bigger than the slightly more expensive Orchard lots.

I noticed that the email said "SFH starting at 999,995".

I guess it's a good thing that they dropped the starting prices...granted by $5, but still. lol

Did you get an email today? I’m on the list (I think) but didn’t get anything

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How much are structural upgrade? What about design center upgrades? And finally lot up charges and upgrade like tray ceilings, home automation, extra lights and outlets etc? When do we find these things out...after we sign??

I can't imagine they won't show you prices until after you've signed

I heard they won’t share info until after you sign...everything is in stages and you won’t see stage 2 until stage 1 is signed. Hope I’m wrong, but that’s what the internet is showing. First you pick your home/lot/structural upgrades...then after signing, you pick your other upgrades like driveway/extra lights/alarm/smart home etc...then after agreeing to that, you go to design center and add your options...it’s not all upfront. That’s what I’m seeing at least.

FWIW, you can go to their design studio and tell them your development and they can give you a price list. I've read that about TB.

+1 to this. And as an additional FWIW, I was also immediately given a price list with the different elevations by TB without even asking during my first visit to the model. Any builder I've ever worked with has also been willing to give me a full options list before signing--I haven't yet decided if we're going to build with TB, but I would be very wary if they didn't do that. The problem with the options list is it can be very hard to understand and very long, but can give you a good sense of what you may be paying.

I do think there is a learning curve when it comes to buying a new build, no matter who the builder is, in understanding the process and a lot of things can feel like a surprise. And, even if your builder has a great reputation BRING IN AN OUTSIDE INSPECTOR at both the framing and completion stage.


If helpful for anyone, this is the process I've been though that seems pretty standard:

-At signing: You'll put down a deposit (sometimes a certain percentage of the house, sometimes a set amount) as well as a percentage of the total cost of your structural upgrades at signing. Very generally, you can guesstimate a 20-30k lot premium if you want a bigger lot or one with privacy and can also assume that any major structural updates (as in an extra bedroom suite, finished basement, etc.) will cost around 30k each. In addition, the elevations usually get more expensive in 10k increments. While you may have 5-15k thousand extra added in for other miscellaneous upgrades for things like additional windows, french doors, or a fireplace or what have you, the lot and the bigger structural options will be the big ticket items at the start.

-After signing/before design: You'll put down another percentage of the total cost of any electrical updates you make. Typically much less than 10k.

-At design: Unless you go super top of the line with all your design choices, 30-50k in those upgrades as a max.

-At closing, obviously the rest of whatever you will be putting down as your downpayment. At the risk of stating the obvious, all of the above is "credited" to the downpayment.

IME after going through this process with another builder (Caruso) - but eventually backing out - if you want minimal structural upgrades (fireplace, etc), a certain elevation, some bath/kitchen upgrades, fixtures, etc, you're looking at adding ~$100k AFTER lot premiums are taking into account. Whether or not you can fit a finished basement into that price depends on how TB is pricing it. But, assuming it's in line with most other builders, finished rec room + bath + finished bedroom in basement will probably run you $30-35k. Then, haven't even gotten to the flooring issue but again, it depends on what is considered standard with this property.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How much are structural upgrade? What about design center upgrades? And finally lot up charges and upgrade like tray ceilings, home automation, extra lights and outlets etc? When do we find these things out...after we sign??

I can't imagine they won't show you prices until after you've signed

I heard they won’t share info until after you sign...everything is in stages and you won’t see stage 2 until stage 1 is signed. Hope I’m wrong, but that’s what the internet is showing. First you pick your home/lot/structural upgrades...then after signing, you pick your other upgrades like driveway/extra lights/alarm/smart home etc...then after agreeing to that, you go to design center and add your options...it’s not all upfront. That’s what I’m seeing at least.

FWIW, you can go to their design studio and tell them your development and they can give you a price list. I've read that about TB.

Design center doesn’t have the info yet for this development as it hasn’t been finalized

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How much are structural upgrade? What about design center upgrades? And finally lot up charges and upgrade like tray ceilings, home automation, extra lights and outlets etc? When do we find these things out...after we sign??

I can't imagine they won't show you prices until after you've signed

I heard they won’t share info until after you sign...everything is in stages and you won’t see stage 2 until stage 1 is signed. Hope I’m wrong, but that’s what the internet is showing. First you pick your home/lot/structural upgrades...then after signing, you pick your other upgrades like driveway/extra lights/alarm/smart home etc...then after agreeing to that, you go to design center and add your options...it’s not all upfront. That’s what I’m seeing at least.

FWIW, you can go to their design studio and tell them your development and they can give you a price list. I've read that about TB.

+1 to this. And as an additional FWIW, I was also immediately given a price list with the different elevations by TB without even asking during my first visit to the model. Any builder I've ever worked with has also been willing to give me a full options list before signing--I haven't yet decided if we're going to build with TB, but I would be very wary if they didn't do that. The problem with the options list is it can be very hard to understand and very long, but can give you a good sense of what you may be paying.

I do think there is a learning curve when it comes to buying a new build, no matter who the builder is, in understanding the process and a lot of things can feel like a surprise. And, even if your builder has a great reputation BRING IN AN OUTSIDE INSPECTOR at both the framing and completion stage.


If helpful for anyone, this is the process I've been though that seems pretty standard:

-At signing: You'll put down a deposit (sometimes a certain percentage of the house, sometimes a set amount) as well as a percentage of the total cost of your structural upgrades at signing. Very generally, you can guesstimate a 20-30k lot premium if you want a bigger lot or one with privacy and can also assume that any major structural updates (as in an extra bedroom suite, finished basement, etc.) will cost around 30k each. In addition, the elevations usually get more expensive in 10k increments. While you may have 5-15k thousand extra added in for other miscellaneous upgrades for things like additional windows, french doors, or a fireplace or what have you, the lot and the bigger structural options will be the big ticket items at the start.

-After signing/before design: You'll put down another percentage of the total cost of any electrical updates you make. Typically much less than 10k.

-At design: Unless you go super top of the line with all your design choices, 30-50k in those upgrades as a max.

-At closing, obviously the rest of whatever you will be putting down as your downpayment. At the risk of stating the obvious, all of the above is "credited" to the downpayment.

IME after going through this process with another builder (Caruso) - but eventually backing out - if you want minimal structural upgrades (fireplace, etc), a certain elevation, some bath/kitchen upgrades, fixtures, etc, you're looking at adding ~$100k AFTER lot premiums are taking into account. Whether or not you can fit a finished basement into that price depends on how TB is pricing it. But, assuming it's in line with most other builders, finished rec room + bath + finished bedroom in basement will probably run you $30-35k. Then, haven't even gotten to the flooring issue but again, it depends on what is considered standard with this property.

Ah. I think your number actually aligns pretty closely with what I broke out above (Two bigger structural upgrades around 30k + about 50k in additional upgrades, you're looking at a ballpark of 110k.)

That said, our last home was built by a "luxury" builder, and all in we spent 55k over the base price (including lot, etc.) would have been higher but we didn't want to roll the floors, outdoor space, and basement into our mortgage (and also wanted something more custom and less cookie-cutter than the builder's options) so did those ourselves after closing. Mostly stopped at Level 2 or 3 upgrades for kitchen and bathrooms, etc. FWIW, made a ton of money when we sold even though the neighborhood was still under construction. A lot of people would rather just have everything "done" when they get the keys, which I get, but I'll admit to being biased in my approach

[Anonymous]

What do folks think the lot prices for the large (Windmill) homes will range from? There are some very large lots available it seems, but would it ever get to 100k for the lot?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How much are structural upgrade? What about design center upgrades? And finally lot up charges and upgrade like tray ceilings, home automation, extra lights and outlets etc? When do we find these things out...after we sign??

I can't imagine they won't show you prices until after you've signed

I heard they won’t share info until after you sign...everything is in stages and you won’t see stage 2 until stage 1 is signed. Hope I’m wrong, but that’s what the internet is showing. First you pick your home/lot/structural upgrades...then after signing, you pick your other upgrades like driveway/extra lights/alarm/smart home etc...then after agreeing to that, you go to design center and add your options...it’s not all upfront. That’s what I’m seeing at least.

FWIW, you can go to their design studio and tell them your development and they can give you a price list. I've read that about TB.

+1 to this. And as an additional FWIW, I was also immediately given a price list with the different elevations by TB without even asking during my first visit to the model. Any builder I've ever worked with has also been willing to give me a full options list before signing--I haven't yet decided if we're going to build with TB, but I would be very wary if they didn't do that. The problem with the options list is it can be very hard to understand and very long, but can give you a good sense of what you may be paying.

I do think there is a learning curve when it comes to buying a new build, no matter who the builder is, in understanding the process and a lot of things can feel like a surprise. And, even if your builder has a great reputation BRING IN AN OUTSIDE INSPECTOR at both the framing and completion stage.


If helpful for anyone, this is the process I've been though that seems pretty standard:

-At signing: You'll put down a deposit (sometimes a certain percentage of the house, sometimes a set amount) as well as a percentage of the total cost of your structural upgrades at signing. Very generally, you can guesstimate a 20-30k lot premium if you want a bigger lot or one with privacy and can also assume that any major structural updates (as in an extra bedroom suite, finished basement, etc.) will cost around 30k each. In addition, the elevations usually get more expensive in 10k increments. While you may have 5-15k thousand extra added in for other miscellaneous upgrades for things like additional windows, french doors, or a fireplace or what have you, the lot and the bigger structural options will be the big ticket items at the start.

-After signing/before design: You'll put down another percentage of the total cost of any electrical updates you make. Typically much less than 10k.

-At design: Unless you go super top of the line with all your design choices, 30-50k in those upgrades as a max.

-At closing, obviously the rest of whatever you will be putting down as your downpayment. At the risk of stating the obvious, all of the above is "credited" to the downpayment.

IME after going through this process with another builder (Caruso) - but eventually backing out - if you want minimal structural upgrades (fireplace, etc), a certain elevation, some bath/kitchen upgrades, fixtures, etc, you're looking at adding ~$100k AFTER lot premiums are taking into account. Whether or not you can fit a finished basement into that price depends on how TB is pricing it. But, assuming it's in line with most other builders, finished rec room + bath + finished bedroom in basement will probably run you $30-35k. Then, haven't even gotten to the flooring issue but again, it depends on what is considered standard with this property.

Ah. I think your number actually aligns pretty closely with what I broke out above (Two bigger structural upgrades around 30k + about 50k in additional upgrades, you're looking at a ballpark of 110k.)

That said, our last home was built by a "luxury" builder, and all in we spent 55k over the base price (including lot, etc.) would have been higher but we didn't want to roll the floors, outdoor space, and basement into our mortgage (and also wanted something more custom and less cookie-cutter than the builder's options) so did those ourselves after closing. Mostly stopped at Level 2 or 3 upgrades for kitchen and bathrooms, etc. FWIW, made a ton of money when we sold even though the neighborhood was still under construction. A lot of people would rather just have everything "done" when they get the keys, which I get, but I'll admit to being biased in my approach

Good to hear. The debate of rolling things into a mortgage is always a good discussion. Me, personally, it's a question of convenience, cash on hand and interest rates. With mortgage rates so low, it's compelling to want to spend 30-35k to have the builder do the basement. It will probably cost you close to that amount if you use a contractor after move in anyhow, so why not do that? For floors, same deal. Design center should get you decent deals or you can try to source your stuff elsewhere. I can see both those as making sense to do before move in because those things are always a PITA to do after you've moved in.

The only thing I can think of that might be worthwhile in doing after you move in is any sort of outdoor living space.

Anyhow, JMO.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Site plans just got released today for phase 1.

Where? I see the same site plan that’s been on the Toll website since it launched a few months ago. Is there something new I’m missing?

It lays out the lots (on a map) by #s, SF, model name, etc. If I'm reading it correctly, the lot is tied to the model. Interestly, looks like the Hamlet lots are bigger than the slightly more expensive Orchard lots.

I noticed that the email said "SFH starting at 999,995".

I guess it's a good thing that they dropped the starting prices...granted by $5, but still. lol

Did you get an email today? I’m on the list (I think) but didn’t get anything

Yesterday.

[Anonymous]

Anonymous wrote:

Good to hear. The debate of rolling things into a mortgage is always a good discussion. Me, personally, it's a question of convenience, cash on hand and interest rates. With mortgage rates so low, it's compelling to want to spend 30-35k to have the builder do the basement. It will probably cost you close to that amount if you use a contractor after move in anyhow, so why not do that? For floors, same deal. Design center should get you decent deals or you can try to source your stuff elsewhere. I can see both those as making sense to do before move in because those things are always a PITA to do after you've moved in.

The only thing I can think of that might be worthwhile in doing after you move in is any sort of outdoor living space.

Anyhow, JMO.

Yeah, I agree--we were able to find better deals on flooring and the basement (as well as more options we liked) than the design center offered, which is why we so just had the contractor come in after closing but before we moved in to complete. Definitely with the floors, would go with the builder's options if I couldn't afford to do it right after closing. Did the outside in stages.

[Anonymous]

Good point about doing certain things between closing and moving in. Guess it’ll depend on what the base price + structural upgrades + lot charge will come to.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Good to hear. The debate of rolling things into a mortgage is always a good discussion. Me, personally, it's a question of convenience, cash on hand and interest rates. With mortgage rates so low, it's compelling to want to spend 30-35k to have the builder do the basement. It will probably cost you close to that amount if you use a contractor after move in anyhow, so why not do that? For floors, same deal. Design center should get you decent deals or you can try to source your stuff elsewhere. I can see both those as making sense to do before move in because those things are always a PITA to do after you've moved in.

The only thing I can think of that might be worthwhile in doing after you move in is any sort of outdoor living space.

Anyhow, JMO.

Yeah, I agree--we were able to find better deals on flooring and the basement (as well as more options we liked) than the design center offered, which is why we so just had the contractor come in after closing but before we moved in to complete. Definitely with the floors, would go with the builder's options if I couldn't afford to do it right after closing. Did the outside in stages.

Makes sense. Flooring + basement is a large cash outlay especially after buying a 1M house. lol

[Anonymous]

You all aren’t worried about school rezoning? The possibility really gives us pause.

[Anonymous]

Anonymous wrote:You all aren’t worried about school rezoning? The possibility really gives us pause.

Somewhat, I admit. But at the end of the day, any new construction in the area is going to be pushing 1M. If the loss during a rezoning is 10%, so be it. Over the course of home ownership (we are estimating that we'll be in this house for 10-15 years before downsizing), I don't think one can worry about slight fluctuations like that, much less 10%. At the end of the day, it's a nice area, location is perfect for us, new construction, etc.

[Anonymous]

I just with for a million bucks you got more than a box!

[Anonymous]

Anonymous wrote:

Anonymous wrote:You all aren’t worried about school rezoning? The possibility really gives us pause.

Somewhat, I admit. But at the end of the day, any new construction in the area is going to be pushing 1M. If the loss during a rezoning is 10%, so be it. Over the course of home ownership (we are estimating that we'll be in this house for 10-15 years before downsizing), I don't think one can worry about slight fluctuations like that, much less 10%. At the end of the day, it's a nice area, location is perfect for us, new construction, etc.

The impact will be more than 10% if schools change. Reason being, Toll would have to lower their base price by 10% for Phase 2 and 3, so if you’re an early buyer, you will have the most expensive house comparable to other sellers in a market that has now just dropped with newer houses available for cheaper than you paid before rezoning.