When looking at communities in which to build high-end speculative “spec” luxury homes, there are several factors that are important in order to meet my criterion for building in a new development. These requirements can also be helpful for prospective buyers and it shows how a builder evaluates new neighborhoods and communities. Some of these particulars are:
“Location location location!” What major highways are close to the development? What is the proximity to both airports? Are there upscale shopping, entertainment, fine dining and retail nearby? How are the public school rated? Are private schools close-by?
What are the lot sizes and will they need improvements? Also, what does the topography and geographical landscape look like? Does the property have hills, greenbelts, mature trees, creeks and ponds? I need sufficient space to build a luxury estate home and want the homes to be ethically coordinated with the environment and landscape. Also, knowledge of the soil is required to know how to engineer the foundation.
What are the community amenities? Is there security or a gatehouse? Other amenities could include a park, an outdoor area or community gathering place, outdoor grill, club house, work-out facility, hike and bike trails, water features, walled perimeter and a swimming pool with spa for the long hot Texas summers.
- What are the demographics of the area and city? I look at the demographics of the surrounding area and city with an investor’s eye, not only as a homebuilder. What is the median age of the area? How safe is the neighborhood? Is the quality of life good? How are the schools ranked? What are the nearby home values and affluence level.
Along with other developments and locations, I recently researched Normandy Estates in Plano – a community of European-style Villas and Estate Homes just 3 minutes from the North Dallas Tollway. The location is excellent with 25 minutes to either airport (Love Field or DFW Airport) in Dallas. The area has fantastic retail shopping and upscale restaurants. The Willow Bend Mall and the Shops of Legacy are close by, with their boutiques, eateries as well as the fabulous retail area at Preston and Park, and premier shopping at Stonebriar Mall. For nature lovers, the community features a large pond and a fishing dock, a wooded creek area, hike and bike trails and Arbor Hills Nature Preserve is only minutes away. The public schools boast one of the highest performances on college entrance exams in the United States. (More on the schools in an upcoming article.)
At Normandy Estates, there are 49 Villa lots and 55 Estate-sized lots located on 75 acres of gently rolling terrain. Estate lots start out on 3/4 of an acre. This provides ample room to accommodate different floor plans and designs.
Normandy Estates features a guard house, walking and jogging trails, a large pond with fountain along with several creeks and mature trees. At Normandy Estates there is an outdoor pavilion with grill for entertaining, state-of-the-art fitness center as well as an amenities center.
The city of Plano has an approximate population of 274,409 and has been designated as one of the best places to live in the Western United States by CNN Money magazine and also featured as the safest city in America by Forbes. According to the 2010 census, 42.0% of households have children under the age of 18. The population 65+ is 8.9%. Since the census, Plano has grown considerably, with West Plano (where Normandy Estates is located) being the most affluent area of the city. Plano is a thriving and economically booming city with a strong infrastructure.
Normandy Estates in Plano earns my approval for a new community in which to build new luxury custom homes. Alford Homes is planning on building a beautiful French Country estate home and a spectacular Tudor home in Normandy Estates. More information on the homes can be found on the Alford Homes website. Please call me at 972-429-1074 for more details. At Alford Homes, we are dedicated to providing the very best construction and quality craftsmanship for over thirty two years.