Spring Lake Estates- Prior Lake New Construction

Are you done searching the Minnesota MLS looking for the perfect setting only to find you need to build with the developers approved buiders? Look no further, the perfect development is right in front of you. Spring Lake Estates is about 3-4 miles South of Shakopee near the border of Prior Lake on Marschall Rd. This is a peaceful country setting close to Spring Lake. Spring Lake Regional Park is within walk distance and the development has 30 private docks that were available for purchase. Initially this was a Toll Brothers development with pricing ranging from the $600-$1m+ range and the Toll Brothers model sat at $1.3 million. However at the turn of the market inventory set stagnant and lots were foreclosed on. Now lots can be purchased as low as in the low $60k’s

Many lots remain open to bring your own builder. Building covenants for sqft are 1850 on the main level for a rambler and 2400 sqft on the upper two floors of a two story. I think this is a fantastic neighborhood and prime Minnesota real estate.

If you are interested in a lot pricing list for Spring Lake Estates, I would be happy to provide the information.

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STOP before you buy a MN townhome!!!!

Don’t panic!!! MN townhomes can be great, I lived in one for five years and loved it. With almost 10 years of experience now and seeing a more depressed real estate market than in the past, competition is tough. The Shakopee Real Estate market has a large inventory of quality townhomes ripe for the picking. I walked into one MN townhome last week that was PERFECT for $95,000, built in 2006!!! Now most first time buyers tend to lean towards townhomes rather than single family for a few reasons. 1) they don’t want to do yard work 2) they don’t want to buy everything to do yardwork 3) pricing typically is lower 4) you generally can buy a newer townhomes without needed repairs.

In the aggressive market we are in with so much more buying power than in the past, I now advise clients when looking at MN townhomes to try to look for four things 1) two car garage 2) At least three bedrooms, ideally also with an additional loft space 3) at least three bathrooms. 4) basement There are many reason for looking

Private Master Bathroom

When looking at townhomes in MN, having a private bathroom may be nice for privacy, living and for resale. Townhomes in MN typically have two bathrooms, a half bath on the main level of the home and then  full bathroom shared with the bedrooms on the upper level. Usually the only exception I see to this is with many one level townhomes in Minnesota where I will usually see a full bath bath in either the master or somewhere else on the main level and then also a 3/4 bath as the reciprocal. I think finding

Three Bedrooms and an Additional Loft

I like to try and find townhomes in MN with three bedrooms for a few reasons. I see a lot of buyers grow out of townhomes a lot quicker than the anticipate, and having a third bedroom buys them more time. Obviously given the market you are buying a lot lower than most buyers did at the peak, and that buys you more flexibility as well. If for some reason you could not sell, as a lot of people can’t in the current market, you always can turn to renting the home out. Having the third bedroom would easily pocket you more money per month and make it easier to rent.

Two Car Garage

The larger the garage, the better.One garage stalls and MN townhomes don’t mix well with the current market because there is SO much inventory with a two car garage. Even with a two car garage you might not be safe. Builders will literally cram a garage that is just as wide as the 16 foot door and call it a two car garage. Especially for couples with two larger cars, this can present a problem you don’t realize until you come home from closing and try to unload things. In an ideal world, try to find a 22-24 foot wide garage. Depth & Height can also cause problems for someone with a large truck or van. I have had many clients test the garage to see if their truck can fit, only to find out it does not. When looking to resell, this just might eliminate some of your buyer pool.

Basement

Tornado!!! Hide under the…stairs??? Well, Minnesota bring us tornados every year and thankfully most do not touch down to create too much damage. Regardless it always gives us a little more peace of mind heading under ground. Another benefit to MN townhomes that have basements would be they typically feel more like a house as there is multiple living areas for different members of the family.