Loudoun County Affordable Dwelling Unit program

[saganista]

Originally Posted by Flexman71

How? I doesnt matter who's in the house. If the person buys it for dirt cheap, that will bring down the property value for everyone. Property values are based on the selling price of the property; not if there is a police officer, firefighter, teacher, or nurse next door in the neighborhood. Although a police officer in the area will sure help.

So, if my house is currently assessed at $1.4 million, but I sell it to my daughter for $1, you think the taxes and property value will go down??? Just checking...

[Margery]

Originally Posted by Flexman71

How? I doesn
t matter who's in the house. If the person buys it for dirt cheap, that will bring down the property value for everyone. Property values are based on the selling price of the property; not if there is a police officer, firefighter, teacher, or nurse next door in the neighborhood. Although a police officer in the area will sure help.

First of all, ADU original prices are not "dirt cheap". Secondly, a limit is placed on the amount of profit from a resale of an ADU unit in the first 10 years of ownership. ADU homes are clearly identified in the tax record information and the resale price is not used as a comparable sale in assessing for tax purposes other homes in the neighborhood and they are not used as comparables by real estate brokers in determining a listing price.

For your information, there are ADU townhouses in Lowes Island in Loudoun County within walking distance of my home (and Caladium and Normie) and they don't seem to have affected the market value of nearby homes.

[homeownerVA]

Yes, it may not bring down the value but will it be more difficult to sell when the buyer sees ADUs are next door?

[snowdenscold]

If you look at the Loudoun real estate database online, and go to the particular houses in question (if you know which they are), you will see a message at the top of the page that says:

Affordable Dwelling Unit - Contact the Department of Family Services for information regarding the sale or refinancing of this property. (703) 777-0353.

It's fairly obvious in my neighborhood which are the ADU's, since they are only TH's with a single garage instead of 2, and thus are much narrower. They also appear to have shorter floors by about a foot, so the roofline is noticeably lower too.

Apparently the County requires builders to make a certain % of many new developments ADU's.


Also, if you look under sales history under the "sale type description" column, it will say something like "INVALID-ADU SALE".