Woodbridge Virginia real estate inventory is increasing.

By
Real Estate Agent with EXIT Realty Associates 0225018862
https://activerain.com/droplet/5j6g

Woodbridge Virginia real estate inventory is increasing. Homebuyers looking in the Woodbridge Virginia  area and surrounding communities are discovering they have  many types of housing options  as the spring inventory levels climb. Buyers can find homes that are brand new to homes that up to thirty years old. Typically most home shoppers are  looking at exterior photos and rooms, when they search online. Many times without knowing exactly where the home is. This happens when you are relocating to a new area. That is when you need a good local REALTOR® to help you out and someone who can coach you on all of your options.

Inventory is growing in Prince William County Virginia. Especailly here in the Woodbridge Virginia area. We see the resale inventory is increasing, Much more than in Fairfax, Loudon  Alexandria or Arlington Virginia. Woodbridge is just 25 miles south of DC, commuter options are the VRE, Car Pool, Van Pool, Bus and  Slugging. You might be surprised how much home one can afford just twenty five miles from homes near the city. You don't have to stuck with a tiny condo with high fee's you can actually own a massive 2600 sq ft townhouse with garage or a single family home with a yard. There is no reson to just settle, homebuyers have choices in Woodbridge Virginia and surrounding communities..

Keep in mind though, when you actually begin looking at homes to buy, the struggle is real. You need to ask yourself, "should we opt for a older home that we like or a newer build home? " Should you go for the big older colonial home that costs less to mortgage or a home that is newer and may cost more, but has everything you want and need.That is a huge decision.

 

Here is good example. This is the home my husband and I owned for just over a decade.(image below) The home was over 26 years old in Lake Ridge Virginia  when we sold it. In the ten years we owned that home from 16 years of age to 26 years of age, we replaced the roof,both exterior  AC units, remodeled the baths, and replaced carpet, repainted and replaced appliances as they aged as well as sump pumps and sodded the rear yard. When we purchased we were told you could not grow grass under the tree's. We did!

Older homes, or newer homes how do you decide

 

That yard alone cost six thousand a year to maintain! As we aged we could no longer do the work ourselves so we paid for mowing, aeration, mulching and  leaf removal in fall. The water bill in summer was over $150 a month. The property was gorgeous on a corner lot and one we were proud to own, but it came with a huge costs. That  is one of the major reasons we decided to sell. The other reason was due to the high cost of utilities on an older home. When those electric bills hit over seven hundred dollars a few times in winter, we said enough. The thing is the home SOLD in days to the next buyer. It was a very sought after custom home on a acre lot in a subdivision in Lake Ridge Virginia.

 

big yard

 

We opted for a home that was just a year old. It was actually a new built home in Eastern Prince William County Virginia. It is the home shown below.  It was in the late fall early winter that we closed on this home. The home offered warm gas heat, twenty foot high ceilings in the grand room. Ten foot high ceilings on two levels of the home, open concept living as well as the same 4800 finished square feet we were used to. The major difference was it had half the yard  and it was a blank slate. We felt over time we could make it ours. 

should I buy a new home or a older home

 

 

Within the first few months of owning this home, we realized our checkbook had stopped bleeding. . No unexpected repairs, no replacement of anything and utility costs are really down. Our previsous bills averaged $500 a month ( spiking to $700 a month in winter) The highest combined monthly bill for gas and electric in the dead of winter was less than $300! It is amazing. What a difference it makes to own a home that is energy smart, has low elite windows,low flow toilets, energy saving lighting, appliances and systems in the home. The first year savings allowed us to install the fence, the second year allowed for the stairs and patio and the third year allowed for the landscape and irrigation system. Those were all our choice, but look at the results!

 

Establishing a yard in a new build home

The other savings that were suprising  was the savings on Homeowners Insurance. The home we purchased had John Hardi siding and an interior compression system ( sprinklers in every room)  USAA by mistake just quoted a home buyer for this size home in our community $1958. I noticed the error and reminded the resale buyer to tell the insurance company about the energy saving features. Our annual home owners insurance is less than $900. That is another $1000 savings annually.

                           "Just goes to prove, you just don't know what you don't know!"

So when you are seaching for a home online.If a home you like is 15 to 20 years of age, and the home has not yet had major improvements, that will be done during your ownership. You need to budget that monthly so you are not caught off guard or be willing to dip into your savings.  Also make sure you have a annual Home Warranty to help you defer the costs. Here are the Top 10 Warranty Companies.Warranties can repair and or replace things as they fail. The cost to repair each item can be as low as $75.00 depending on the warranty you opt for.

Do you know how long things last in a home? Things such as a roof, electrical panel, cabinets, appliances, flooring, electical wiring etc. Did you know that wood flooring can last up to 100 years? I am always amazed when I see buyers pulling out the hardwood in a home to lay down renewable flooring. But to each their own. Learn what the life expectancy is on parts in your home. 

So don't overlook a new home because of the sales price. Once you have the real facts and costs to own, do a comparison of both the older home and the newer home. Homes under five years of age and plentiful in our area, especially in the spring months when people are relocating. You might just be amazed to learn the newer higher priced home may just make a better purchase for your budget, and longterm homeownership goal. I was alawys saying NO to a new home, when in reality, I just did not KNOW how nice it would be and how much savings there was compared to a twenty six year old home. Details matter when you are in a deciding.

New homes come with a builders warranty, and appliances come with the one year warranty.  Parts and Labor for the first year are typically at no costs. Parts for things like furnance are covered for first five years. It will all depend on what builder you purchase from. Always make sure you tell the builder you are working with a REALTOR® when you visit. If not, you will not be able to have a seasoned new home real estate specialist help you. There is no cost to you to align yourself with a good local real estate specialist like Patty Blackwelder  Patty has worked for three national builders as a sales person. She can really help you figure out what will work for your budget. Sales people at the builders offices work for the builders. Their job is to make sales and to sell options. Patty works for you, not the builder. She can coach you on all of your options, so you do not make a fatal error for resale down the road. It is too late after you settled on the home to learn that you really should have added that extra bath and not the upgraded kitchen appliances, or that

Buying a home is so much more than a the amount of mortgage you are Pre-approved for. You must factor in the cost of ownership.  Ask questions about the property. Can you afford to live in the home you have fallen in love with. You also have to consider the taxes, the HOA fee's and any additional fee's. For example the house you may fall in love with may have a well, septic tank, grinder pump,a condo fee, a clause that allows for a special assesment. A good real estate agent who knows the Woodbridge, Dumfries Virginia area well will be able to help and coach you during the decision process. Then they will negotiate on your behalf to help you get the home you want.

Buying a home is a big decision whether you are moving across town or relocating from another destination. We want you to buy the homes that works for you, your budget as well as your lifestyle. 

We can help...give us a call 703-801-9367

If you have a home to sell before you can buy another home Find out what your Woodbridge Virginia home is worth now.

 

Realty to begin your home search for homes in Woodbridge, Lake Ridge or Dumfries Virginia? Click on one of the links below. Let's us know if you need some help.

 

 Homes for sale in Woodbridge Virginia today

 Homes for sale in Dumfries Virginia today

 Homes for sale in Lake Ridge Virginia today

 Homes for sale in Potomac Shores -Dumfries VA today

 

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Peggy James

Woodbridge Virginia Area Real Estate Specialist
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