I like to look at MLS for fun to see what's for sale in my town. Recently I noticed a couple Ryan home "to be built" listings pop up. Huh. I wasn't aware there was going to be a Ryan homes development here.
Turns out, they ended up buying out another subdivision. It was meant to be a small neighborhood of homes between 500K and 1.5m. There are 6 custom homes there currently on large lots.
And now Ryan homes has taken over. They redid the lots so that they could fit more homes in. The most expensive model starts at 250K.
I'd be so, so furious if I built my dream home in what I believed would be a neighborhood full of upscale, custom homes and ended up with tract homes surrounding me.
And I'm not putting Ryan down. We considered going that route.
My mom and dad live in a borderline suburban but still agricultural area. About 15 years ago at the height of the everyone wants to be in the country (read: out of the city) rage a lot of farmers sold some acreage for subdivisions as a way to pay down debt/pay for the rest of the land/secure savings for the future, whatever.
Some of those subdivisions were slated for high end custom million dollar forever homes. Then the whole market crashed, people were meh about the subdivision thing once again and you could buy twice the house for half the price so why build? The developers who bought the land had to make ends meet so they went to cheaper average family homes. OR they just stopped construction all together.
So my mom and dad's area is now a sea of ridiculous housing developments. Million dollar homes mixed in regular houses or million dollar houses surrounded with dirt lots, mud and no trees still.
I guess that's the chance you take. And I'd rather have an avg. house next to my overkilled mansion than a gravel pit.
There's one development in particular at my parents' when I graduated HS it had a sign saying "Home starting in the mid 500Ks!" Now it says, "Homes starting at $150K!"
The only good part about this completely suck situation is there's farmers who struggled their whole life and are now laughing all the way to the bank.
That would piss me off, but I sort of considered a similar situation when we were looking at a Ryan subdivision to build in. My main concern was whether they'd sell all the lots or not. I hated the empty lots in my previous neighborhood.
This happens a lot -- it's the risk you take when you are one of the first homes in a new community. We built in a neighborhood like this.
Our neighbors have a gorgeous 1.4M custom home. Two weeks after they closed the developer went under. A production builder came in and bought the remaining unsold lots and are selling homes in the $400s. We built on one of the two custom lots left, but in line with the production house costs. But we might as well live in a trailer according to our neighbors
That stinks! Ryan homes is building a townhouse division close to where I live. They are lovely, and so are their single family homes, but they just aren't my taste.
There's a neighborhood a few blocks over from where I live. All the houses are small, old ranchers and there's randomly like 2 or 3 McMansions. I don't know what happened there (like if a McMansion subdivision was supposed to buy out all the property and it didn't happen or what) but it looks so awkward. The larger houses are clearly newer and so don't fit in among the neighborhood.