Ashburn real estate (home builders, neighborhood, buying)

[rome99]

I want to buy a new town house in Ashburn (Brambleton area). I have visited some builders. I don't no why do they price such costlier even in the sluggish housing market and that too around 40 miles away from DC. They go upto half million for a town house. Are they worth the price?
Is it worth to buy? Is this the right time to buy? I'm so confused and also have been paying too much as rent.

[sonnymarkjiz]

Meh I bought in brambleton. I say they're worth it. But I wish they were a bit cheaper, but the area is really nice for what you get. They're also building this area up significantly in the next couple of years, so maybe that's why too? Haha I'm not sure. Which neighborhood are you lookin in?

[spencgr]

Originally Posted by rome99

Is it worth to buy?

Times have changed. At this point you should only look at your primary residence as your long-term home; not necessarily a "money-making" investment. So, to answer the question; "Is it worth it?". Only you can answer that. Is it worth is to you to pay that price for that specific house? If so, buy; interest rates are low. If not, don't.

[rome99]

Thanks for the reply. I like this area (Loudoun County Pkwy & Craigton Miller and Smith Grand Vista collection). I don't want to be in a very hectic area. I don't anticipate to make money out of it in a few years. I only want to buy at reasonable price especially everyone knows housing market here in US.

Originally Posted by sonnymarkjiz

Meh I bought in brambleton. I say they're worth it. But I wish they were a bit cheaper, but the area is really nice for what you get. They're also building this area up significantly in the next couple of years, so maybe that's why too? Haha I'm not sure. Which neighborhood are you lookin in?

[billscamaros]

The builders charge premium prices for homes because they can ... pure and simple. Brambleton certainly doesn't have a reputation as the cheap part of town. I think that Spencgr it spot on ..... the current times are a bit different, and you should consider buying a house as a longer term commitment. Undoubtedly your home value will trend upwards, it just might take a little longer than we have been used to around this area.

Good luck.

[rome99]

Thanks. I agree. At the same time if you visit some of the websites like redfin lot of new town houses and new homes listed couple of months back are not sold yet. They are still on the market. That really confuses me. How should I bargain? Any tips..?

Originally Posted by billscamaros

The builders charge premium prices for homes because they can ... pure and simple. Brambleton certainly doesn't have a reputation as the cheap part of town. I think that Spencgr it spot on ..... the current times are a bit different, and you should consider buying a house as a longer term commitment. Undoubtedly your home value will trend upwards, it just might take a little longer than we have been used to around this area.

Good luck.

[NC211]

6 years or so ago, the average entry price to this part of Loudoun was around $1 million. With the events of the past few years in the economy, this area has changed a bit. Recently I attended a study on the market for residential. Loudoun county is THE tightest market in the country in terms of housing stock and land lot availability. There is a price point though of significant change in supply: $600,000. If you're under that price point, there is less than a year of available developable lots and stock. If you go over that price point, the inventory jumps to a 5 year supply. Home builders are looking at this area in context of the $1,000,000 days, and knowing that at some point the housing market is going to recover. Therefore, townhomes offer the most bang for that buck for a builder. More profit from a smaller lot investment. I have a feeling that if it weren't for the Loundoun planning board people, no single family homes would be getting built out here right now, just town houses.

That being said, a rising tide lifts all boats. The question is, and data of the past would suggest, that a single family detached home in Loudoun for under $600,000 would be the safest bet for when the tide begins to rise again. Not saying the town house won't rise too, but with less homes and more town homes being built here now, it'll be a balance supply and demand when that time comes, and it is coming, make no mistake about it.

[NC211]

Also, some of those new houses listed months ago that aren't sold, aren't actually built yet, they're on there for advertising the decoplemt purposes.