Ar_home_b_search
 

LOUDOUN COUNTY NEW HOME BUYERS - ALERT!  DO YOU WANT TO ENJOY THE SWIMMING POOL THIS YEAR? or about 3 YEARS FROM NOW??

WHEN WILL THE POOL BE AVAILABLE?  Home buyers don't always understand that builders or developers rarely have the amenities available to residents in the first year or two.  But, why not??  For one thing, the builder will want to have a number of homes completed and residents paying into the Home Owner's Association which is responsible for pool maintenance and the life guard.  Until there are a number of homes completed and occupied, the builder will be paying for or subsidizing the cost of maintaining and staffing the amenities.  So, don't expect to move into a newly opened community and have the pool ready the first year or two. 

CAN WE FINANCE WITH FHA OR VA FINANCING?  This could also determine what type of financing is available.  Many new home communities will not be approved for FHA or VA financing until the Community Center, swimming pool, etc. are completed and fully operational.  When home buyers are interested in the immediate use of amenities, this is one of the first things we verify when showing new homes to our buyers.

DON'T FORGET TO VERIFY THE AVAILABILITY OF THE COMMUNITY AMENITIES.  If the attraction of a new home community is the swimming pool, the tennis court, community center and other features that may have attracted you to a particular community, you'll want to make sure that those amenities are available now or at least soon. 

COMMUNITY CENTER AND SWIMMING POOL READY FOR BUYERS WHEN THEY CLOSE IN JUNE.  One of the communities in which Homefinders.com has a new home in Ashburn / Brambleton under construction offers a fully completed recreations center, a fully operational outdoor swimming pool and other features for home owners. 

                       Lennar Community Center

                 The community center in this new home community in Ashburn is fully operational.

                               Lennar Swimming Pool

           The community swimming pool is fully operational and will be opened soon for summer fun.

                                         Ashburn Grid Map

                                   Home under construction in Ashburn

                                                          Under roof and should close about June 15th.

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.Lenn Harley

FOR THE BEST NEW HOME BUYING EXPERIENCE, WORK WITH AN EXPERIENCED NEW HOME BUYER'S AGENT.  LENN HAS SPECIALIZED IN NEW HOME SALES SINCE 1992.   With over 25 years real estate experience, we can help you buy your home with the confidence that the home you're buying is the very best home in your price range in your area of choice.   We can help.

FOR A TOUR OF THE LOTS IN ASHBURN - BRAMBLETON AND TO MEET WITH THE BUILDER, CONTACT:

DON'T FORGET THE HOMEFINDERS.COM BUYER'S REBATE - 1% OF THE PURCHASE PRICE OF THE NEW HOME YOU BUY.

Lenn Harley, Broker, Homefinders.com, 800-711-7988


_______________________________________________________________________________________________________


Want to learn more about Loudoun County, VA? Join Loudoun County, VA on Facebook!

 
This post has been included in Virginia Real Estate News Loudoun County, VA Real Estate News Ashburn, VA Real Estate News
Post is included in group: AR Twitter Users
Post is included in group: Club Chaos
Post is included in group: Loudoun County New Homes
Post is included in group: The Ninety-ninth Percentile

11 Comments on LOUDOUN COUNTY NEW HOME BUYERS - ALERT! DO YOU WANT TO ENJOY THE SWIMMING POOL THIS YEAR? or about 3 YEARS FROM NOW??

APR
10
2010
634,239 Points 10 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

That looks like a huge pool, and plenty of room on the deck for lots of lounge chairs.  It looks a little lonesome now but I bet there will be plenty of action in a couple of months.
5:59pm • #1
421,594 Points 76 Featured Posts Called Shot Master

Lenn - Great points to alert buyers to the dangers of not understanding how and when the amenities are to be completed.  And in today's market, it's especially important if the amenities aren't completed; builders/developers in financial trouble might never complete the facilites.  Just one more reason to have an experienced agent on your team.
6:05pm • #2
595,059 Points 18 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Lenn,

Very nice explanation on why the pool is not ready if you are one of the first buyers in the subdivision.  Sometimes it doesn't pay being the first to buy in a new subdivision.
7:53pm • #3
1,400,480 Points 109 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Lenn,

I know your buyers MUST appreciate the expertise that you bring to them for purchasing a new home.
7:59pm • #4
924,784 Points 97 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Lenn, excellent point "new home communities will not be approved for FHA or VA financing until the Community Center, swimming pool, etc. are completed and fully operational."  In fact the same is also true for many of the Conventional Loans as well these days.
8:29pm • #5
1,304,546 Points 314 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Interesting question, Lenn. In my area there are several new communities and the first thing they did was begin the work on the residents' club. In one case even before the modesl were done.

The other issue we see is that new folks in the community often pay a significantly higher HOA fee, which drops to $xxx on the community is built out. THat can take a while.
9:20pm • #6
APR
11
2010
143,369 Points 41 Featured Posts Outside Blog

Lenn, I must be missing something (in addition to the marbles I lost years ago...). There are few instances I can think of in new home sales where I wouldn't want to be one of the early purchasers. If the buyers have done their homework regarding the builder, community, pricing and related matters, on average, the early buyers are going to be well ahead of others with regard to builder cash, home exrta's and equity position when the development - and the pool - is finished. If you need a pool in the interim, spend a couple of hundred bucks for a season pass for another nearby pool.
4:58am • #7
1,545,916 Points 417 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Dave.  You are correct about the advantages of buying in the early stages of development for lower base prices.  However, that isn't the subject of this post.

We've had many home buying families with children whom they wish to utilize the amentieis.  These families limit their home search to communities with ready swimming pools and for some, the community center. 

For families with 3-10 year olds, waiting 2-3 years for a pool build-out is not an option.  They want it NOW.

We have also had families, one just last February who wanted a community with a community center that they could use for large family gatherings.  They passed on all communities that didn't have the community centers already available. 

Going outside the community when they are going to be paying HOA fees also in their existing community isn't an attractive option.

My post is a reflection of actual experience in speaking with and representing many, many home buying families with children (my primary target market). 

There is one community in AA County, that has a lovely pool but membership is limited to homes with a "POOL BOND".  The homes with a Pool Bond sell much faster and for a significantly higher price than homes without, even though a limited number of home owners can join for a fee (with a long waiting list).

Additionally, I believe we are entering a time when new home prices are going to be relatively stable and buying in the early stages of development may not be as much of an advantage as in the past with predictable price rises.

Home owners want their pool and they want it NOW.

 

 
5:35am • #8
1,545,916 Points 417 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Jeff.  I see that here too.  Private clubs and pools are expensive and are always going to be in addition to the HOA fees paid by home owners.

George.  I'm not surprised.  The FHA list is the FHA list.

Judi.  Leave no stone unturned, good or bad, is my goal.

Don.  Indeed.  Depends on your time table.  What I've found is the family with small children want those amenities to offer local and convenient places to socialize.

John.  Good point.  I eschew small niche builders for just that reason.  Going with major builders is the safest way to buy a new home. 

Ann.  That community is going to have about 300 properties.  They'll need a large pool.  The Community Center is very nice.
5:41am • #9
976,046 Points 17 Featured Posts Hit Router Called Shot Master

Lenn great post.  In Florida, with many new communities that were heavily investor oriented and now in some difficulty, there is little to no possibility of FHA or VA financing if too many homes are vacant and/or rented out.  And, we currently have almost no new communities under development (In our area anyway).
6:25am • #10
1,545,916 Points 417 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Gabe.  Sad.  Sad.  Florida is a sad, sad place for real estate these days. 
7:00am • #11

This blog does not allow anonymous comments
 


Listings

Links

Archives

RSS 2.0 Feed for this blog