Need help with new Townhouse in the area (rent, HOA)

[ozzyngcsu]

I know GreatSchools is not the best rating system but I looked online at these developments and it looks like the schools for the KHov are rated 4,4,5 (elem, middle, high), Van Metre 6,7,7, and Toll 6,7,5. I think based on schools I would pick Van Metre, but based on the website information I might lean towards Toll based on the retail in the development. From an appreciation perspective, I think Van Metre might win bc the development includes single family homes (so those pull up the TH prices), KHov is close to DC so a plus there but has condos too, and then Toll has apartments in the development so that really hurts appreciation. Really just depends on what is most important to you.

[ersatz]

Originally Posted by ozzyngcsu

I know GreatSchools is not the best rating system but I looked online at these developments and it looks like the schools for the KHov are rated 4,4,5 (elem, middle, high), Van Metre 6,7,7, and Toll 6,7,5. I think based on schools I would pick Van Metre, but based on the website information I might lean towards Toll based on the retail in the development. From an appreciation perspective, I think Van Metre might win bc the development includes single family homes (so those pull up the TH prices), KHov is close to DC so a plus there but has condos too, and then Toll has apartments in the development so that really hurts appreciation. Really just depends on what is most important to you.

You are not limited to GreatSchools if you are considering Fairfax County Schools. Fairfax County posts highly detailed statistics that are extremely helpful (demographics, test results, crime statistics, etc. ) when considering local schools. I pulled up the statistics for Chantilly High School as an example


FCPS - School Profiles - Chantilly HS - School Profile Overview Page

[KeeperOfSecrets]

Originally Posted by ersatz

You are not limited to GreatSchools if you are considering Fairfax County Schools. Fairfax County posts highly detailed statistics that are extremely helpful (demographics, test results, crime statistics, etc. ) when considering local schools. I pulled up the statistics for Chantilly High School as an example


FCPS - School Profiles - Chantilly HS - School Profile Overview Page

How much "value add" is better schools? It seems fairfax where Khov is has better schools.
Also, talked to Khov and their base town is 740 with deck so probably looking at 770 or so after options and closing costs? I feel that might be too much for the sqft?

[Old Guard]

Originally Posted by KeeperOfSecrets

How much "value add" is better schools? It seems fairfax where Khov is has better schools.
Also, talked to Khov and their base town is 740 with deck so probably looking at 770 or so after options and closing costs? I feel that might be too much for the sqft?

This is not all about SQ ft. It is also about location and what you are getting with that sq ft. Once you hit that price range I definitely would at least look for single family homes. I did not have a yard until I moved into this house (well since I was a kid) and now I do not think I could ever go back. As a matter of fact I want a bigger yard.



Personally I like the location of the Khov home you linked. I am familiar with the surrounding location and think this would be a nice balance of commute and lifestyle. I think 50 and 66 can get more than a little headachey but the area is kind of closish to a lot of Northern VA and DC if you so choose.



But 770K for a townhome? I remember 10 years ago there were some new ones near Ballston going for less.

[KeeperOfSecrets]

Originally Posted by Old Guard

This is not all about SQ ft. It is also about location and what you are getting with that sq ft. Once you hit that price range I definitely would at least look for single family homes. I did not have a yard until I moved into this house (well since I was a kid) and now I do not think I could ever go back. As a matter of fact I want a bigger yard.



Personally I like the location of the Khov home you linked. I am familiar with the surrounding location and think this would be a nice balance of commute and lifestyle. I think 50 and 66 can get more than a little headachey but the area is kind of closish to a lot of Northern VA and DC if you so choose.



But 770K for a townhome? I remember 10 years ago there were some new ones near Ballston going for less.

Yeah the seller said prices only going up and said that the 740 is the lowest one they got now with deck and i think better basement (lower foundation or something?). She said maybe be little conservative and only put 20k in optional designs (focus on master suite and maybe kitchen) so thats how i come up with ~770. It is 2200 sqft vs 260sqft for lower price or same.

I also looked at price trends via redfin and it is going up every year as well. I know location matters but where is the "break even point" ? At some point the extra location premium you pay will be much more than what you could get back when you resale vs another place right?

But I am going to look at the other 2 places tomorrow and get similar packages priced out and see how they all look.

BTW, the Khov seller is asking me to ask my lender to get me numbers on the monthly payment for the price tag. Is this some kind of tactic to gauge if they will reduce the price or not or just to see if it is worth their time to talk to me further? She did mention they are selling fast and not have me regret waiting because "i will pick this place anyway"

[CoogHawk]

Originally Posted by DMVonian

I may be wrong but I feel the Khovanian townhomes are in a better area than the other two. I feel Fairfax has better resale value than Chantilly.

Have you tried negotiating them down at all?

Go with Chantilly area. Chantilly has great schools and a convenient commute to 28, Hwy 50, 66 and 267. Plus you are a stones throw from Dulles International Airport. The shopping and parks in the area are also great.

Now I am biased as I used to live in that are (Centerville) but I think overall it’s a great area. Finally Toll Brothers are better home builders than KHI. My uncle owns a KHI TH in California, and he had problems almost immediately with cracks and broken appliances. Toll Brothers have historically focused on luxury homes so I would say that is another reason to go with them.

[KeeperOfSecrets]

Originally Posted by CoogHawk

Go with Chantilly area. Chantilly has great schools and a convenient commute to 28, Hwy 50, 66 and 267. Plus you are a stones throw from Dulles International Airport. The shopping and parks in the area are also great.

Now I am biased as I used to live in that are (Centerville) but I think overall it’s a great area. Finally Toll Brothers are better home builders than KHI. My uncle owns a KHI TH in California, and he had problems almost immediately with cracks and broken appliances. Toll Brothers have historically focused on luxury homes so I would say that is another reason to go with them.

What about quality of vanmetre?
Also, I actually used a comparison calculator to see if it is worth buying or renting... right now I pay 1400 including utilities not internet. I think any of these places I will end up paying 3kish per month which I can afford but it will be a bit different. My realtor did say I could rent out the bottom floor since it is connect to garage and has a bathroom and kitchenette and a big room. Maybe that can alleviate some things...

[Old Guard]

Originally Posted by KeeperOfSecrets

Yeah the seller said prices only going up and said that the 740 is the lowest one they got now with deck and i think better basement (lower foundation or something?). She said maybe be little conservative and only put 20k in optional designs (focus on master suite and maybe kitchen) so thats how i come up with ~770. It is 2200 sqft vs 260sqft for lower price or same.

I also looked at price trends via redfin and it is going up every year as well. I know location matters but where is the "break even point" ? At some point the extra location premium you pay will be much more than what you could get back when you resale vs another place right?

But I am going to look at the other 2 places tomorrow and get similar packages priced out and see how they all look.

BTW, the Khov seller is asking me to ask my lender to get me numbers on the monthly payment for the price tag. Is this some kind of tactic to gauge if they will reduce the price or not or just to see if it is worth their time to talk to me further? She did mention they are selling fast and not have me regret waiting because "i will pick this place anyway"

The seller should not be the only person you are talking to here. First stop would be a lender or three to see what kind of loan you can get and the amount, the rate and then see if your lender can give you an expected monthly payment.



You should probably have a GOOD real estate agent that can show you your alternatives and show you some other places.


The seller is telling you that the prices will not go down but there is no way for this person to know this in the middle of a pandemic and possible economic collapse. Saying they are going fast may be true or it may be a sales tactic. I think you have been given a lot of advice here but now if you want to take the next step you need to talk to a lender and probably a real estate agent.

[ozzyngcsu]

You can also look up the price history for the model home. You might need an agent to help you with that but I was about to find one of the Van Metre ones. Looks like the price has increased by $98k since March 12.

https://www.redfin.com/VA/Dulles/2-H...home/171079003

[Old Guard]

Originally Posted by ozzyngcsu

You can also look up the price history for the model home. You might need an agent to help you with that but I was about to find one of the Van Metre ones. Looks like the price has increased by $98k since March 12.

https://www.redfin.com/VA/Dulles/2-H...home/171079003

The market in NOVA is very hot right now which many have mentioned in this thread. Homes in my neighborhood have increased almost $200K in value based on recent sale data. That is why I am saying that the sales agent saying the houses will not get cheaper does not know. With the pandemic a slow down in the economy of even a full blow recession could be a game changer.