Moving Dilemma - Rockville,MD

My advise is to keep looking. Just because something is new doesn't mean it is better. From a resale value you will get more bang for your buck with a smaller single family house in a good neighborhood than a townhouse. Try to find something that doesn't need too much work you would be amazed what a new coat of paint can do to a room. Take your time if you have 2 years it would be better to be patient and find just the right place than to jump into something that you might regret later regardless of what others are telling you about rates. It would be better to love the house you get and have it be a perfect match for you price, size, work needed to fix up and maintain.
Good luck, and remember your house is one of your biggest investments it can be your best money maker or just a big money pit so take your time and don't rush into anything. Sleep in any decision you might make.

I would suggest you hope for the best but prepare for the worst! Try to get O. of the new construction town homes but keep looking in your area for what you can afford.
Can't suggest Dave Ramsay enough for wise financial strategy--get a book out of the library & check it out!
Good luck!

if you buy the ones that are being built wont they not be done being built for a few more months? then your son wont have to drive far for the whole school year. and if things are being built around the new neighborhood then in a few yeas it wont be far away from everything. have to think big picture here not just what will be the first couple years...especially if you plan to live there for many years to come.

Personally, I would buy the new town home. Right now it is far away from everything, but chances are they will continue to build the area and make it larger. My reason for choosing the new home is simple...it comes with a warranty (or it should). This means that all of those things that can go wrong with a home are covered for a period of time. We bought new and our AC units are covered for 10 years! We may not even be living in the house then, but it is good to know that we won't have to pay a penny on those babies for a long time!

Older homes have great character, but they also come with a lot of "built in" problems. Chances are, you would have to put a lot of time and money in to one. This is going to get very costly for you very quickly.

That's my 2 cents...good luck in your decision!

Hi, we have done both, bought a newer home (only 4 years old when we bought it) and an older home. Go with the newer home. our older home is in a wonderful neighborhood on a great lot but the house has too many things wrong with it to list. The newer home may not be ready for a while, giving your son the chance to finish high school while the home is being built. Who knows, he may be able to finish high school before the house is finished. Good luck!

New Construction isn't always better than older homes (particularly when you are talking about homes that are 80+ years old). So long as old homes have been well maintained, they generally tend to have stronger foundation and nicer details. I spoke to a home inspector who told me that some of the worst homes with the biggest problems have been new construction -- simply because of shoddy-work and materials. They just don't build houses like they used to.

I would advise against moving to the neighborhood that has nothing but new homes that are being built. In this type of economy, those are the homes that may not retain their value. Also, while it may seem like a great deal, sometime, brand new developments have much higher taxes & fees to compensate the city or country for running utilities to the area.

It's true that rates are amazingly low, but this is very much still a buyers market and you will not be left high and dry with no house. You should take your time and find the right house in the right neighborhood.

Good luck

I say do the old pros and cons of each on a list and see which looks better. Personally I would go for the new build. You said there is a school and new construction which means this is a budding new development. You willl have a school right there for your2 younger kids when they are ready to fo and the property value of this house seems like it could go up and you could have some equity in it. Find out what other plans there might be in this area for stores and such as well. I knwo you dont want to have your son drive far, but it would only be for a year. It really comes down to what you are most comfortable with. Good luck and hope this helps ((HUGS))