Photo from Canva
As a home buyer searching the Alexandria real estate market, you probably don’t initially think of a new construction home to purchase because the existing colonial and wartime-style homes make up a solid chunk of real estate in the area.
However, you should know that developers and builders continually find land for new builds. You might need extra time, research, and a broader budget to find homes that have not previously been lived in.
City of Alexandria
Plenty of original construction projects have gone up in the City of Alexandria during the last couple of years, and this trend will continue, especially near and around Metro stations and, of course, near Amazon’s National Landing. With land at premium prices, home buyers will find abundant townhouse and condo opportunities in the luxury sector.
Home shoppers intrigued by the possibility of buying a never-lived-in property should investigate new developments throughout the City of Alexandria. They are in various stages of building or recently completed: Robinson Landing, Watermark, and Eisenhower Metro area currently have vacancies. But be sure to connect with an experienced real estate agent familiar with the city. They’ll have insider knowledge of availability, even if the development says SOLD OUT online.
Read Understanding Alexandria, Virginia Zip Codes and Borders so you’ll know how to research where you'll live, shop, and play in Alexandria.
Alexandria, Fairfax County
In Alexandria, Fairfax County, the land is more available for building traditional single-family homes, especially as you travel west. Still, townhouse communities near commuter routes remain a popular choice. New home builds include The Meadows at Rose Hill, and for those who are members of the active 55 and up club, new residences are found in the Crest of Alexandria and Walhaven at Kingstowne.
If the price tag of a new construction home is beyond your budget, both parts of Alexandria are building or currently offering apartment space for individuals and families. Check out Gables Old Town North, The Dalton, Del Ray Central, and the upcoming condos and apartment buildings opening in Alexandria's Carlyle/Eisenhower Metro area.
What to Expect When Buying a New Construction Home in Alexandria
Don’t be tempted to sign the sale documents for a new construction home without the guidance of a buyer’s real estate agent. The process differs from buying a previously owned home; only a knowledgeable agent can keep your best interests (closing cost credits, negotiated upgrades) front and center. Although you can purchase the house with the company’s sales agent’s help, they will consider the seller’s interests first.
Photo from iStock.com/photovs
Some of the common pitfalls of buying a newly built home in Alexandria VA:
1. New construction equals delays.
Expect about a year from groundbreaking until move-in day. Of course, partially built or near-completion homes require less time, but bad weather, ordering/shipping delays, and human error add extra weeks to the calendar before you can move into your new home.
2. Builders prefer contracts that represent and protect their needs, whereas a traditional resale contract takes into consideration both the buyer and seller.
New construction contracts are best combed through by a buyer’s agent and potentially a real estate attorney. These professionals will advise if addendums and contingencies to the contract benefit you, the buyer. Builder-offered warranties are also different, so consult with your agent about ensuring protection over the house for years to come.
3. More earnest money is required.
Earnest money is about 5% of the sales price, which differs from 1% to 2% of a previously owned home.
4. Just because the house is new doesn’t negate the need for a proper home inspection.
Even new construction has flaws that skilled inspectors should uncover. The ideal situation for the buyer is a contingency that includes an independent home inspection. Although the home must meet all legal codes, the builders’ inspection only meets those standards; hence, a hired inspector must go above and beyond mandated inspection points.
It’s normal to find cosmetic deficiencies, such as paint that needs to be touched up and broken light fixtures. This walkthrough also ensures any issues the home inspector found were corrected. These should all be addressed before the settlement date.
Alexandria’s home-buying market remains fast-paced and limited, making it challenging for buyers to find something available and affordable. However, purchasing a newly constructed home offers opportunities in desirable areas of Fairfax County and the City of Alexandria.
By Dawn M. Smith
