BRAC
So, for those who don't know, BRAC (the Base Realignment and Closure iniative) is expected to bring 50,000- 80,000 people into northern Anne Arundel County in MD (where 
Violin Chick and I live) between 2008 and 2010. Basically, much of northern VA's military and support personnel are being transferred to Ft. Meade.
So what does that mean for us?
We've been living in our current townhome for about a year and a half. We had planned to live in it for 5-7 years (possibly less if we needed more space after we have kids), and then move into a single-family home. When we found out about BRAC early this year, those plans got abbreviated significantly. We're pretty sure that if we waited until after all those families start moving in that the property values would skyrocket and we wouldn't be able to afford to buy another house.
Now, Shari and I have long said that we would like to move into new construction when we buy our next home. There's something to be said for being able to pick all your own options and colors, etc. The house is really *yours* in a way you just can't get moving into someone else's house. I'd been keeping my eye on the market off and on for months, just to see what was out there so I'd be better prepared when we really did get serious about buying a new home. About a week ago, we decided more or less on a whim to check out a couple of new developments near our house.
One was a Ryan Homes community that's mostly built but still had 20-30 lots left, which was nice but didn't really stand out at us as someplace we'd like to live. The other -- which I swear I found completely by accident on the Internet and have *no* idea how I got there! -- was a brand new community by a builder named Koch Homes, who we'd never heard of before. We went to take a look at it, and promptly informed them we'd be putting a contract down ASAP. We got pre-approval on Monday for a mortgage from the seller's loan agent (a Wells Fargo Home Mortgage agent they have a deal with, which is kind of funny because I work for Wells Fargo), a pre-condition for an appointment to sign a contract, and made an appointment that afternoon to put a contract on lucky lot #13. We signed the contract yesterday afternoon, and picked out most of our colors and patterns as well. The last week has been an absolute whirlwind of activity -- picking options, pre-reading the contract, arranging financing, etc.
The house is going to be absolutely beautiful. Koch (pronounced like Coke) is, so they say, one of the last "stick builders" in the area. That means that they build "stick" by "stick", rather than pre-fabbing large sections in a factory. They only build in Anne Arundel County. We've driven through one of their other communities, and they do amazing work. There are only 30 lots being built, so the community is going to be nice and small, which is a far cry from the 100+ homes at the Ryan community.
Did I mention that nearly every upgrade we wanted comes standard already? Gourmet kithcen with Corian countertops, hardwood floors in the foyer and powder room, tile in the bathrooms, and countless others. We only had a few left we needed to purchase, like some extra windows and a 2' extension for the garage, a whirlpool tub, and upgraded appliances.
Construction hasn't even begun yet, and there are two other lots that sold before ours. We expect to move in sometime around June next year. That's about year or so before we'd planned, but I think we've found our dream home, and we decided to grab the opportunity while we still could. There's going to be some belt-tightening involved, for sure, but it's not outside our means (though that doesn't stop our hearts from skipping a beat every time we see the total).
Now we have to figure out when to sell our current house and what we need to do to get it ready to sell, etc. It's going to be a wild ride this year.
Violin Chick and I live) between 2008 and 2010. Basically, much of northern VA's military and support personnel are being transferred to Ft. Meade.
So what does that mean for us?
We've been living in our current townhome for about a year and a half. We had planned to live in it for 5-7 years (possibly less if we needed more space after we have kids), and then move into a single-family home. When we found out about BRAC early this year, those plans got abbreviated significantly. We're pretty sure that if we waited until after all those families start moving in that the property values would skyrocket and we wouldn't be able to afford to buy another house.
Now, Shari and I have long said that we would like to move into new construction when we buy our next home. There's something to be said for being able to pick all your own options and colors, etc. The house is really *yours* in a way you just can't get moving into someone else's house. I'd been keeping my eye on the market off and on for months, just to see what was out there so I'd be better prepared when we really did get serious about buying a new home. About a week ago, we decided more or less on a whim to check out a couple of new developments near our house.
One was a Ryan Homes community that's mostly built but still had 20-30 lots left, which was nice but didn't really stand out at us as someplace we'd like to live. The other -- which I swear I found completely by accident on the Internet and have *no* idea how I got there! -- was a brand new community by a builder named Koch Homes, who we'd never heard of before. We went to take a look at it, and promptly informed them we'd be putting a contract down ASAP. We got pre-approval on Monday for a mortgage from the seller's loan agent (a Wells Fargo Home Mortgage agent they have a deal with, which is kind of funny because I work for Wells Fargo), a pre-condition for an appointment to sign a contract, and made an appointment that afternoon to put a contract on lucky lot #13. We signed the contract yesterday afternoon, and picked out most of our colors and patterns as well. The last week has been an absolute whirlwind of activity -- picking options, pre-reading the contract, arranging financing, etc.
The house is going to be absolutely beautiful. Koch (pronounced like Coke) is, so they say, one of the last "stick builders" in the area. That means that they build "stick" by "stick", rather than pre-fabbing large sections in a factory. They only build in Anne Arundel County. We've driven through one of their other communities, and they do amazing work. There are only 30 lots being built, so the community is going to be nice and small, which is a far cry from the 100+ homes at the Ryan community.
Did I mention that nearly every upgrade we wanted comes standard already? Gourmet kithcen with Corian countertops, hardwood floors in the foyer and powder room, tile in the bathrooms, and countless others. We only had a few left we needed to purchase, like some extra windows and a 2' extension for the garage, a whirlpool tub, and upgraded appliances.
Construction hasn't even begun yet, and there are two other lots that sold before ours. We expect to move in sometime around June next year. That's about year or so before we'd planned, but I think we've found our dream home, and we decided to grab the opportunity while we still could. There's going to be some belt-tightening involved, for sure, but it's not outside our means (though that doesn't stop our hearts from skipping a beat every time we see the total).
Now we have to figure out when to sell our current house and what we need to do to get it ready to sell, etc. It's going to be a wild ride this year.