Pre-construction nightmare- Issue with Centex townhomes in Ashburn

[handy man88]

Originally Posted by HEATHER72

I don't see what the problem is. Say you paid $500k for a house and $15k of options were included. Someone comes in now and the house is $485k, but don't get the $15k worth of options. Where is your loss?

What's the true value of those $15k in options? Probably $5k, if that.

[bangorme]

Buying any new house, like buying a new car, in anything but a skyrocketing market means big depreciation the minute you move in. In this market, you shouldn't be buying a new house unless you plan to live in it AT LEAST ten years. So, if you aren't planning to do so, this would be a good time to back out and look for something that is a better investment. If you are going to stay in the house for ten years or longer, then it really doesn't matter how much you pay for it. Certainly not 3%.

One more tip, don't fall in love with a house until you can't get out of buying it. Take my word for it, there are a 100,000 homes in this area you could love.

[handy man88]

Originally Posted by bangorme

Buying any new house, like buying a new car, in anything but a skyrocketing market means big depreciation the minute you move in. In this market, you shouldn't be buying a new house unless you plan to live in it AT LEAST ten years. So, if you aren't planning to do so, this would be a good time to back out and look for something that is a better investment. If you are going to stay in the house for ten years or longer, then it really doesn't matter how much you pay for it. Certainly not 3%.

One more tip, don't fall in love with a house until you can't get out of buying it. Take my word for it, there are a 100,000 homes in this area you could love.

In this area, it's not just about the home, but also the school triangle, proximity to jobs, and access to public transportation. That scales down by a great magnitude your 100k figure.

[aliciamonahan]

If you'd like I could do a market analysis on your townhouse to see what others in the area are selling for. Builders are having a tough time, just like any seller. They are often switching tactics to try to attract more buyers. With so much available on the market there is a lot to choose from, and not everyone is willing to wait to build. Also, is the $15k an Earnest Money deposit, or part of your down payment? Did you have an agent when you went to the builder? Make sure all your bases are covered and you're not shelling out more $$ than you have to. As long as you plan on staying in the home for a few years you "should" be okay". I tell buyers who want to do the "stay for two and move" idea that works in increasing markets, to hold off, or they may get stuck....unless they are willing to stay if they have to.