New Construction in Yorktown

Ben
Home Buyer
Newport News, VA

Why are new construction houses in Victory Meadows so expensive? I look at the same model house and compare to other area (Newport News and Yorktown Summer Crossing) and the price for Victory Meadows is like 100k more than the other areas. They have 1500 and 1600 sqft houses for around 330,00 to 340,000. And most of their 400K houses are around 370 and under in other areas.

Answers (1)
Lori Jeltema
Agent
Yorktown, VA
FIRST ANSWER

The builder at Victory Meadows built all over the entire Hampton Roads area. You'll probably see the same models a lot in the surrounding areas. The reason for the price difference is location. That neighborhood is around the corner from where I live and just on the border of Tabb and Poquoson or as I call it "Yorkosin'. Regardless of what we think about the pricing, the big difference is the location. You could see the trend last year comparing his Churchill Estates neighborhood in Tabb off of 134 to other, same models a few miles down Big Bethel in Hampton. If you're comparing the builder's work in Newport News -- say Peach Orchard, you're looking at many of the same floor plans (excluding the newer, smaller plans). The location in that Menchville area is great, but again, there is the value of location. Summer Crossing is also the same builder AND in York County, but it is in upper York and the school district is different. Depending on your work and lifestyle location, you may benefit from the price savings by being so far up into York. If you work around Nasa, you are minutes from the base. I've had clients willing to spend more to live in the Tabb area since they knew that they would realize the savings in gas and make up for it. Ben, it's really the simple rule - location, location, location. Don't count on this builder going out of business anytime soon. He is well established, has a history of positive post-closing customer service record and has remained pretty constant in both good and bad markets....and no, I don't work for him :)

Wed Nov 26 2008, 18:38

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