Study: Buyers Can Afford Bigger House If It’s New

The National Association of Home Builders says its new study shows that home buyers can buy a more expensive, newer house and still have the same operating costs as owning an older existing home. NAHB examined data from the Census Bureau and Department of Housing and Urban Development’s 2011 American Housing Survey to determine how utility, maintenance, property tax, and insurance costs vary depending on the age of a home. Houses built prior to 1960 have average maintenance costs of $564 per year. On the other hand, homes built after 2008 have average maintenance costs less than half that — $241, according to the study. For homes built prior to 1960, operating costs average nearly 5 percent of the home’s value while the average was less than 3 percent for homes built after 2008, the NAHB study found. The study also took into account the first year after-tax cost of owning a home by its age, examining the purchase price, mortgage payments, annual operating costs, and income tax savings. “A buyer can afford to pay 23 percent more for a new house than for one built prior to 1960 and still maintain the same amount of first-year annual costs,” according to NAHB. New houses tend to cost more than existing homes, so the mortgage payments will likely be higher — but the lower operating costs of a newer home will give buyers annual costs that could be about equal if they purchase a lower priced, older home with a smaller mortgage payment but higher operating costs, NAHB says. "Home buyers need to look beyond the initial sales price when considering whether to buy new construction or an existing home," says NAHB Chairman Rick Judson. "They will find that with the higher costs of operating an older home, they can often afford to spend more to buy a new home and still have annual operating costs that fit their budget." Source: National Association of Home Builders

Are you looking for a new condo or a newly built home? The on-site staff works for the builder. Our brokerage represents the buyer's interests and doesn't work for the builder. Start your search here to see our suggestions.

Nesbitt Realty doesn't work for the builder. We work for you and we'll help you find the best new home for you. Best of all there is no charge to the buyer for our services!

New Home Buying Tip

Waterview condominiumsIf you're thinking of buying a new construction, you probably already know that every new development will have its own sales staff. These people are often friendly, helpful and very knowledgeable about the new condominium or new house. However, the on-site sales people work to sell this property only. That means that the on-site staff of a new condominium knows the property as-well-as or better than anyone around and they are there to assist you. But that also means that the on-site sales staff works for the builder. When in the market for a new condo or a new home, it's a good idea to employ a buyer's agent such to protect your interests. A condominium agent knows the entire area, not just one property. A buyer's agent knows the pitfalls and benefits of buying new, and best of all it won't cost you one dime more than if you use the onsite staff. You have a right to representation: exercise that right today! [read more about Buyer's Representation] [new homes for sale]

Properties in Focus

*Open Houses: 1-3 PM Saturday, April 27 | 1-4 PM Sunday, April 28.

7413 Brian Run Ct

* Welcome to this beautiful Springfield neighborhood nestled outside the beltway in the Sangster/Irving/West Springfield school pyramid.. With a transitional style this brick/siding front colonial has exceptional curb appeal, a beautiful yard and a great spot on a cul-de-sac street. On the main level you’ll appreciate the hardwood floors, fresh paint, and sun-filled windows. Start your mornings on a tranquil note as you savor a cup of coffee in your screened in deck or move out to the patio for more outside living space with a partially fenced backyard that provides a serene retreat where you can unwind and enjoy the peaceful surroundings. In the heart of the home you’ll find a well laid out kitchen with an abundance of cabinets and counter space that adjoins the kitchen table space and the family room. Get cozy with a fire or enjoy a good book from the built-in cabinets. With classic good looks you’ll appreciate the additional space in the living and dining areas. Don’t miss the updated powder room before you head upstairs. The primary bedroom has a WOW ensuite bathroom, double vanities, topped with beautiful countertops, double closets and timeless tile flooring. On the upper level you’ll find 3 additional bedrooms plus an updated full bath. Stretch because there’s more. The lower level is finished with a rec room, den/bedroom, and a full bath. Don’t miss the separate storage room off the back of the 2 car garage. No HOA. Excellent location with close proximity to restaurants, schools and shopping. Close to Huntsman Square shopping, Huntsman Park with nature trails, playgrounds and lake. South Run Recreational facilities is a gem nearby. Grocery store is less than 1 mile. Metro bus stop outside the subdivision within 0.5 mile. Some recent updates include: A/C, Hot Water Heat, Roof, driveway, added insulation. This gorgeous home is a must see and won’t last long! [Glenwood Manor - $869,888]

Once in a lifetime EXCEPTIONAL opportunity to be able to enjoy Crystal City and DC views with this rare GEM coming on the market.

600 29th Rd S

You have the best of two worlds where you can renovate the home and make it your own and the BEST LOCATION. The sellers spent 60 years in the home, loved the convenience and have enjoyed the location every bit (including yearly watching fireworks from DC from their backyard). Just Minutes & convenience to Washington DC, Pentagon, Crystal City, Alexandria Old Town, Reagan National Airport, Amazon HQ2, Virginia Tech campuses, Boing & Raytheon and other parts of Northern Virginia. [Oakcrest - $950,000]

Charming Victorian Row Home in Old Town North! Step into this lovingly maintained home with original pine floors that add warmth and character.

521 N Patrick St

The updated kitchen dazzles with high-end appliances and beautiful finishes. Enjoy cozy evenings by the remote controlled gas fireplace in the inviting sitting room and take advantage of the custom features such as the recessed bookshelves and smart home lighting system. Both bedrooms offer en-suite bathrooms with modern updates, while the secondary bedroom includes a delightful loft or storage space. Unwind in the primary bedroom with access to a private deck overlooking the backyard, perfect for morning coffee or evening relaxation. The backyard is a peaceful urban retreat with patio and privacy fencing, providing a quiet oasis and beautiful entertaining space. A bonus hobby/office shed with bar seating adds to the delightful outdoor retreat. A convenient parking space in the rear (full size trucks fit!) adds to the appeal of this charming home. Plenty of guest parking to the front. Just Moments away from King Street's vibrant dining, shopping, Five blocks to Braddock Road Metro. Second street shopping and dining to the north and Del Rey all just blocks away. All the best Old Town has to offer just outside your door. [ - $849,900]

***Food Truck Open House Sunday April 28th 12-2PM, Catered Open Houses Friday April 26th 6-8PM, Catered Open House Saturday 12-2PM***Step through the doors of this grand 6-bedroom, 6.

7232 Farr St

5-bathroom sanctuary, where every inch of its 6,298 square feet of living space whispers luxury in a warm embrace. Imagine pausing on the welcoming expanse of your covered porch, sets the tempo for relaxation. This space, your first taste of home, invites you to savor the calm before you step inside. Envision yourself in the warmth of a kitchen where the glow of polished granite counters is only outshone by the laughter of friends gathered around. This is where your day begins and ends, in the culinary heart of your home. Stainless steel appliances glisten, ready at a moment's notice to assist in transforming ingredients into feasts. The gas cooktop on your island beckons you to sauté, simmer, and sear, while the double oven stands as a testament to your hosting prowess, promising that no dish is too ambitious, no recipe too daring. In this place where creation meets relaxation, watch as your open floor plan embraces each chuckle and ray of light, letting them tumble into a living room where a gas fireplace crackles, the heart of your home aflame with warmth and welcome. Step from this haven onto a sprawling 500+ square-foot Trex deck, where the touch of the sun is as soft as a whisper, and the evening breeze teases with the promise of starlit nights to come. Just off the daily rhythm of life, find versatility in a main level room that adapts to your needs: an office for your ambitions, a bedroom for your dreams, or a workout room for your vigor. Nearby, a mudroom with savvy built-ins leads into a two-car garage, where every coming and going is an exercise in orderly transition. It's in this home, in this space, that every element is designed not just for living but for enriching life's every moment. Ascend upstairs, where the primary suite beckons as your personal sanctuary, complete with three walk-in closets ready to house your attire from the casual to the couture. The master bath, a retreat of relaxation clad in the warmth of heated floors, offers a refuge where time pauses, and luxury whispers. Here, a grand spa like sanctuary stand-alone Japanese style tub under a chandelier of light beckons you to soak away the day's toil, while a frameless glass-enclosed shower adds a splash of modern indulgence. But why stop at the primary suite? This home boasts five additional bedrooms upstairs, each as spacious and meticulously appointed as the last, creating a constellation of private retreats for family and guests alike. These chambers are not mere sleeping quarters; they are individual havens, thoughtfully crafted to cradle dreams and nurture nights of restful slumber. Each morning, as sunlight filters through the windows, it touches upon the myriad details that transform these spaces from mere rooms into bastions of elegance and comfort. The walkout basement is a realm of possibility, a suite that is not only a retreat but a place of possibility: an in-law suite, an au-pair’s quarters, and the rec room of your dreams. It offers a bedroom, two full baths, and space for a potential 7th bedroom. Envision your new custom-designed wet bar as the centerpiece, a place where every pour is a toast to the future, and every cheer a soundtrack to the memories you’ll create. This is where comfort meets capability, where every corner is a new beginning. [Farr and Mc Candlish - $1,325,000]

Long-time owner has fastidiously cared for this beautiful 3-level split sited on gorgeous and secluded near 1/2ac lot backing to trees*Welcoming foyer leads to spacious living room with gleaming hardwood floors and mantled, brick wood-burning fireplace*Dining area has hardwood floors with french doors to 23x17 slate patio, amazing yard and firepit*Adorable, vintage kitchen is in very good condition*Upper level boasts gorgeous newly refinished hardwood floors, three nice-sized bedrooms and updated full bath*Walkout lower level has expansive rec room with new LVP flooring,newly remodeled full bath and large storage/laundry room*$90K+ in recent improvements to include lower level bath renovation ('24), refinished hardwoods and LVP installation ('24), water line from main to house ('22), W/D ('19), HVAC and HWH ('17), chimney repair and chimney cap ('15), roof with architectural shingles ('13), vinyl siding, downspouts and gutters ('03) Anderson replacement windows and french doors ('02)*Easy access to major routes, bus lines, shopping, dining and parks and rec areas.

7902 Ellet Rd

Nestled in the serene Twin Oaks subdivision in the Mt.

8808 McNair Dr

Vernon area, this charming single-story brick rambler boasts 3 bedrooms and 2 full baths. The primary bedroom features an en-suite bathroom, walk-in closet, and linen closet. Flooded with natural light, the living, dining, and bonus rooms offer seamless transitions. With neutral paint and hardwood floors throughout, the tiled eat-in kitchen includes a large pantry and access to the garage and utility room. Additionally, this oasis features a large one-car garage, and one-car carport with an attached work shed, covered porch, a newly resurfaced deck, and a spacious fenced yard with mature landscaping, providing privacy and bursts of color year-round. Situated on a half-acre lot, and a very tranquil street that leads to a large park, trails, playgrounds, pic-nic area and much more.. Conveniently located near the GW Parkway, you're minutes from shopping, restaurants, Mount Vernon, schools, major transportation routes, Reagan Airport, Fort Belvoir, the District of Columbia, and Old Town Alexandria. Assumable mortgage 2.75% details to follow! [Twin Oaks - $699,000]

Welcome to this charming home nestled on a tranquil 1/2 acre lot where blooming crepe myrtles and fig trees enhance the picturesque landscape.

1209 Chadwick Ave

This 4 bedroom, 2.5 bath house offers a perfect blend of elegance, comfort, and natural beauty. Upon entering, you'll be captivated by the classic layout and exquisite details throughout. Gorgeous hardwood floors exude warmth, guiding you through the inviting spaces. To the left, French doors open to a formal living room adorned with beautiful moldings and a wood-burning fireplace, ideal for cozy gatherings. On the right, a more casual gathering space awaits, featuring a second wood-burning fireplace with an all-brick surround, perfect for relaxed evenings with loved ones. The heart of the home lies in the gourmet kitchen, boasting stainless steel appliances, granite countertops, and a breakfast bar that beckons you to gather and create memorable meals. Adjacent is a separate dining room, providing an elegant setting for formal dinners and special occasions. Glass sliding doors seamlessly connect the indoor and outdoor spaces, leading to the stunning backyard patio, an idyllic place to gather with friends for a barbecue or simply enjoying peaceful evenings in the tranquil setting. Completing the main level is a home office, offering a quiet retreat for remote work, and a convenient half bath for guests. Upstairs, you'll discover four bedrooms with tranquil views from every window. The primary en-suite bedroom is a luxurious retreat, featuring a spacious bathroom and a walk-in closet, providing ample storage. A full bath services the other bedrooms and a pull-down attic offers additional storage space for your convenience. Outside, an attached two-car garage and a horseshoe driveway provide easy access and ample parking for you and your guests, ensuring convenience and comfort. Nestled adjacent to Collingwood Park, this home enjoys a prime location just one block from the GW bike path and GW Parkway. With this convenient positioning, residents have effortless access to Old Town, DC, Belvoir, the Pentagon, and Reagan National Airport. [Wellington - $1,079,000]

Welcome to 2724 King Street, where the charm of the Ivy Hill community meets the warmth of a lovingly cared-for home.

2724 King St

Tucked away on a cozy corner lot, this gem is the epitome of comfort and convenience. Step inside this true Center Hall Colonial, and be pleasantly surprised by the spaciousness that awaits. With over 3,000 square feet of finished living space, there's more room here than meets the eye. Whether you're hosting friends in the generous family room or enjoying a quiet moment in the expanded kitchen, every corner of this home exudes hospitality. The owners have poured their hearts into making this house a home. From extending the kitchen to re-envisioning the primary bedroom and bath, every improvement has been made with love and attention to detail. And let's not forget the lower level, which was transformed into a versatile space for whatever life throws your way. But the magic doesn't stop indoors. Step outside and discover your private oasis. With a replaced deck and a patio, the backyard is perfect for lazy Sunday barbecues or starlit dinners under the sky. And don't miss the lovely landscaping, where 70-year-old boxwoods and vibrant azaleas add a splash of color to every season. Convenience is key here, with a driveway for two cars and ample street parking on Melrose Street. And with local trails just a stone's throw away, getting your daily dose of fresh air and exercise has never been easier. But perhaps the best part of living at 2724 King Street is the sense of community. With Old Town just a short drive away, you'll never be far from endless dining, shopping, and entertainment options. And thanks to easy access to the Beltway and a seamless commute to DC, the world is truly at your doorstep. So come on in, kick off your shoes, and make yourself at home; comfort, convenience, and a warm welcome around every corner. [Ivy Hill - $1,295,000]

***Price Improvement***Fresh paint and new carpet*****Charming brick colonial, tucked away on peaceful cul de sac in a secluded Vienna neighborhood.

8417 Woodford Ct

Convenient to Tysons Corner, several Metro stops, Town of Vienna, pedestrian & biking trails, parks, and so much more! This lovingly cared for home offers four large bedrooms and two and a half baths. The beautifully remodeled kitchen is the heart of this home. Enjoy the calming wooded view of the backyard through the large sliding glass door in the eat-in kitchen. The new low maintenance composite deck provides additional entertaining space. Family room features a fireplace and large living room and dining room round out the main floor. The primary bedroom offers a walk-in closet and en-suite bath. The upstairs hall full bath is easily accessed by the three additional ample-sized bedrooms. Unfinished basement, laundry room, and oversized garage complete the lower level. ****2024 - Fresh Paint and New Carpet , 2019 - Composite Deck, Vinyl Siding, Anderson Sliding Glass Door, Front Door, Garage Doors and Openers, and Front Lights, 2017- HVAC, 2011 - HW Heater, 2006 - Kitchen Updated**** [Woodford Oaks - $965,000]

Welcome to a beautifully maintained property boasting an array of enhancements! This home effortlessly sets a cozy and serene tone with its fresh interior paint, applied in a lovely neutral color scheme that lends an air of tranquility to every room.

6213 Split Creek Ln

The expansive primary bathroom doesn’t disappoint, featuring the luxurious ease of double sinks designed for convenience and style. The heart of the home, the kitchen, shines with eye-catching stainless steel appliances, all updated and ready for home cooking or even entertaining. A kitchen island takes center stage, providing extra counter space for meal preparation or casual dining. The ambiance is further elevated by a warm and inviting fireplace adding a touch of elegance to the living area. Partial flooring replacement adds another touch of freshness to the home, enhancing the sense of newness and ensuring every corner is immaculate. Offering a harmonious blend of comfort and sophistication, this property awaits its next chapter with you. [Overlook - $863,000]

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New contruction? Here’s a buyer’s tip …

If you're thinking of buying a new construction in your next home, you probably already know that every new home development will have its own sales staff. These people are often friendly, helpful and very knowledgeable about the newly built home. However, these folks work to sell this property only. The on-site staff of a builder knows the property as-well-as or better than anyone around and they are there to assist you but they work for the builder. When in the market for a newly built home, it's a good idea to employ your own advocate, an agent who does not work for the builder, to look out for your interests. We don't work for the builder ... we work for you. Our agents know the entire area, not just one property. We know the pitfalls and benefits of buying new, and best of all it won't cost you one dime more than if you use the onsite staff. You have a right to representation:exercise that right today!