What Should You Know About Buying in Lakes of Preston Vineyards in Frisco, Texas?

What should you know about buying in Lakes of Preston Vineyards in Frisco, Texas? Start with the structure. The name covers a community with separate homeowners associations for its main section, its Villages and its Villas, so the rules that apply to one home may differ from the rules next door.¹ The community sits in the 75035 ZIP code in Collin County, and the city's parks and trails give you plenty to explore before you make an offer.²

This post covers how the HOAs are organized, which city parks are worth a visit, what to do nearby, the trade-offs to weigh, and how to approach a purchase or a sale. I am Omega Mejia, a real estate agent with Simply Great Real Estate Group at OnDemand Realty in Frisco.

Lakes of Preston Vineyards, Lakes of Preston Vineyards Villages and Lakes of Preston Vineyards Villas are separate associations.¹ All three are property owners associations in Frisco, Collin County, ZIP 75035: The Lakes of Preston Vineyards Homeowners Association, The Lakes of Preston Vineyards Village, Phase V, and Lakes of Preston Vineyards Villas, Phase One Homeowners Association.³

The Village V association runs its own website, with an online resource center for association documents and forms, plus resident tools such as announcements and a member directory.⁴ Every section keeps its own documents, so the section your home belongs to decides which documents you read.

Frisco has more than 200 HOAs, each with a property management company and a board.⁵ The city runs a Five Star Neighborhood Program that recognizes associations for knowledgeable board leadership, experienced management, communication and fiscal responsibility.⁵

For a buyer, the practical pieces are the covenants, the budget, the fee schedule and the rules on fences, paint, additions and rentals. Each association's Texas management certificate names the manager and where its documents are recorded, so you know who holds the current paperwork.³ Ask for the documents for the exact section your home sits in before your option period ends.

Frisco has more than 47 miles of hike and bike trails developed across the city, and the Hike and Bike Master Plan lays out where the system is headed.⁶ Two city parks give you a feel for what Frisco parks offer.

Boyd Park covers 10.3 acres at 355 Stonebrook Parkway. It has benches, picnic tables, a walking trail, parking and fishing, built around a 3-acre fishing pond with a pier. It was completed in 2019 and opens 30 minutes before sunrise.⁷ Park Vista, at 11461 Sugarlands Drive in ZIP 75035, covers 3.5 acres with a playground, grass areas, benches and a walking trail. It sits at the southeast corner of Eldorado Parkway and Coit Road and was completed in 2022.⁸

Here is how I would spend a free weekend around this part of Frisco:

• Walk the pier at Boyd Park. The 3-acre pond and the pier make a short outing, and fishing is allowed.⁷
• Take a loop at Park Vista. The 3.5-acre park has a walking trail and a playground.⁸
• Browse the city's trail map. The Hike and Bike Master Plan shows the whole system, so you can plan a longer ride.⁶
• Plan a bigger day. My Frisco things to do page lists more places to eat, play and explore.

For a wider look at the city, visit my Frisco page, or compare with Frisco lake neighborhoods.

Start with the HOA. With separate associations for the main section, the Villages and the Villas, one set of rules does not cover every home in the name. Read the covenants and the fee schedule for your section, and ask what repairs the association handles and what falls to you.¹

Next, look at the tax bill. A Collin County bill can include several taxing entities, and the total depends on the address. My post on how Texas property taxes work in Collin County walks through the pieces, and MUD and PID taxes explain two line items you may see on newer streets.

Then test the drive. Try your commute at the hour you would travel, and ride the nearby roads on a weekday and a weekend so the traffic does not surprise you after closing.

Here is the order I follow with clients in a community like this one:

• Identify the section. Find out whether the home belongs to the main association, the Villages or the Villas.
• Request the HOA documents early. Read the covenants, budget and rules before your option period ends.
• Walk the area twice. Visit once on a weekday and once on a weekend, and include a nearby city park.
• Compare close sales. Match your home against recent sales on nearby streets, not a citywide number.
• Confirm the school assignment. Homes here are served by Frisco ISD, and assignments follow the address.

Buyers can read how I work on my buying a home page and in my buying process, and the full path is on my process page. Comparing with a newer build? See new construction. Moving from out of town? See relocating to Frisco. For district context, see Collin County school districts.

Sellers can start with my selling your home page. Before we list, I show you a Plan A, B and C for pricing, which I explain in how I price a Frisco home. If timing is the question, read sell first or buy first.

If you are weighing a move here, tell me what you are looking for, and we will talk it through. If you want to know what homes in Lakes of Preston Vineyards are selling for, ask me for a neighborhood market update, or request your free home value. If you have questions first, send me a message.

This article describes my general approach and is not legal, tax or lending advice.

1. City of Frisco, HOA Directory (updated quarterly)
2. Lakes of Preston Vineyards Village V association website, Frisco, TX 75035
3. Texas Department of Housing and Community Affairs, HOA Management Certificates Search
4. Lakes of Preston Vineyards Village V association website, resident resource center
5. City of Frisco, Neighborhoods page
6. City of Frisco, Park and Trail Development page
7. City of Frisco, Boyd Park facility page
8. City of Frisco, Park Vista facility page