The Lakes at Maple Grove:
a representative from Toll Brothers builders came into our office the other day to tell us about their new luxury home development going up in Maple Grove. This is the first Toll Brothers development in the area. Toll Brothers is a nationally known huge builder. I was excited to hear about the new development because I drive down Weaver Lake road all the time and I see the construction going on.
The area where these are going up are right across the street from the Lifetime fitness center. At first I thought the prices were going to be in the $500Ks and when they told us the "starting" range they said the homes start at $450Ks. To me it seemed like a good price bracket for that area. It is so close to all the shops on Main Street as well as all the Shoppes of Arbor Lakes. One thing I did not like is how close together the homes were. Also, the garages are in the back of the home so when you look at the front there it appears to have no garage. To me this style of home looks great. I don't think it looks good when you pull up to a house and it is "all garage." Toll Brothers have some promotions going on right now too such as $15,000 in upgrades "for free." I guess most of their standard packages include hardwood floors, granite, and stainless steel appliances so I'm not sure what else you would want..... I guess a lot of move up buyers are moving into there after they have sold their townhome or starter house.
To me it might be a better investment to purchase an existing home in a more established neighborhood. You will get much larger sq. footage, a deck, a bigger lot, and probably some developed trees or landscaping.
Toll Brothers only builds homes that are ordered. For example, they won't put up 20 homes then keep discounting the price until a buyer makes an offer. Lennar does this. In the Bonaire development in Maple Grove they have had some $100,000 price reductions. Unless you are planning on living in the same house for 5+ years I would be careful about purchasing a home in the new Lakes development in Maple Grove. You might be paying more than market value in the market's current situation due to ordering it to your specifications.
a representative from Toll Brothers builders came into our office the other day to tell us about their new luxury home development going up in Maple Grove. This is the first Toll Brothers development in the area. Toll Brothers is a nationally known huge builder. I was excited to hear about the new development because I drive down Weaver Lake road all the time and I see the construction going on.
The area where these are going up are right across the street from the Lifetime fitness center. At first I thought the prices were going to be in the $500Ks and when they told us the "starting" range they said the homes start at $450Ks. To me it seemed like a good price bracket for that area. It is so close to all the shops on Main Street as well as all the Shoppes of Arbor Lakes. One thing I did not like is how close together the homes were. Also, the garages are in the back of the home so when you look at the front there it appears to have no garage. To me this style of home looks great. I don't think it looks good when you pull up to a house and it is "all garage." Toll Brothers have some promotions going on right now too such as $15,000 in upgrades "for free." I guess most of their standard packages include hardwood floors, granite, and stainless steel appliances so I'm not sure what else you would want..... I guess a lot of move up buyers are moving into there after they have sold their townhome or starter house.
To me it might be a better investment to purchase an existing home in a more established neighborhood. You will get much larger sq. footage, a deck, a bigger lot, and probably some developed trees or landscaping.
Toll Brothers only builds homes that are ordered. For example, they won't put up 20 homes then keep discounting the price until a buyer makes an offer. Lennar does this. In the Bonaire development in Maple Grove they have had some $100,000 price reductions. Unless you are planning on living in the same house for 5+ years I would be careful about purchasing a home in the new Lakes development in Maple Grove. You might be paying more than market value in the market's current situation due to ordering it to your specifications.
Van Buren - $444,975
Bedrooms : 4 Bathrooms : 21/2 Baths : 1
Sq. Ft : 2850Master Bedroom : 2nd Floor
Phalen - $464,975
Bedrooms : 4 Bathrooms : 21/2 Baths : 1
Sq. Ft : 3135Master Bedroom : 2nd Floor
Nokomis - $474,975
Bedrooms : 4 Bathrooms : 31/2 Baths : 1
Sq. Ft : 3215Master Bedroom : 2nd Floor
Youngstowne - $484,975
Bedrooms : 4 Bathrooms : 31/2 Baths : 1
Sq. Ft : 3300Master Bedroom : 2nd Floor
posted by Steve Hoem, Edina Realty @ 11:23 AM
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