There are lots of things people loved about this home. It’s an elegant home and being a single story with the detached garage, it stretches across the 2 acre lot. The home has an open floor plan and is beautifully finished out. It also features many hi-tech electronics.
The rear of the lot is solid woods, so there’s excellent privacy in the back yard. It’s also in Lovejoy ISD, one of the top three public school districts in the state of Texas (per the Texas Education Agency).
The home has everything going for it except one thing. It lacked a pool and in this million dollar price point, it’s almost a given a home has to have a pool.
However, if you want to see what $1 million gets you today for a home …
- in Fairview,
- about 5 years old,
- about 5,000 Sf
- with high quality finish out,
- in Lovejoy ISD,
- on 2 Acres,
- without a pool,
This is a pretty good example. That’s around $200/sf including the price of a typical two acre lot.
In my opinion, a pool and landscaping befitting a beautiful home like this would probably come in at a minimum of $100K, but could go up quite a bit depending on the amount of dirt work, stonework, paving, and landscaping. You also have to factor in the size of the pool and number of pool features. That adds another $20/sf to the price, so the total sale price with the pool might have been around $220/sf, or $1.1 million.
Of course, building now would be a different story. Everything has gone up in pricing over the past five years including lots, steel, concrete, and wood. Builders are telling me one of their biggest problems is finding reliable trades and their prices have escalated too. Who knows how long this will last, but for now, we’re all enjoying a brisk market.
We’ll be taking down the pictures of the home in a week or so, but if you’d like to see the inside, here’s the LINK.