In teardown neighborhoods like Falls Church, buyers are paying for the land, not the structure. Here’s why land value drives every decision.
Are you considering buying a teardown property but unsure what to look for? In Fairfax County, many buyers, builders, and developers are entering the teardown market, but the process and opportunities aren’t always straightforward.
In neighborhoods like Plymouth Hills in Falls Church, tearing down and rebuilding has become the norm. Understanding why this trend is happening and what factors matter most can help you make smarter decisions.
The real value is in the land. One property that highlights this trend is at 2023 Edgar Court in Falls Church. Plymouth Hills is known for teardowns, with more than 30% of homes already rebuilt. Many of the originals, built in the 1940s and 1950s, are small, like a 1,000-square-foot, three-bedroom, one-bath home across the street. While once functional, houses like these have reached the end of their usable life. Today, the land carries the value.
Lots that once sold for $350,000 to $400,000 now range from $700,000 to $900,000, with some reaching close to $1 million. Buyers aren’t paying for the houses; they’re paying for the ground to build something new.
"Off-market lots often hold the best opportunities for Fairfax buyers."
So what happens when you’re looking to tear down a property and rebuild on the lot? There are a few key things to keep in mind.
1. Finding the buildable lot. When it comes to a teardown, the lot is everything. The best lots are flat, wide enough to meet county setbacks, and deep enough for both a front and a backyard. Sloped lots are harder to work with, often requiring retaining walls or forcing garages onto the lower level, features that today’s buyers find less desirable. In the end, the land dictates what can be built, not the existing house.
2. The lot matters more than the house. If you’re considering a teardown, focus on the lot, not the house. The structure will almost always be torn down, leaving you with a fresh start. From there, you can design a new footprint within the county’s building guidelines.
3. Avoid overpaying for land. Price strategy matters just as much as the lot itself. During the pandemic, intense demand pushed prices up quickly as builders paid premiums. The key is to “make your money go in” by buying the land at the right entry price rather than relying on future resale value.
For buyers building their dream home, budgeting is critical. In Plymouth Hills, a new 7,700-square-foot home with seven bedrooms, seven full baths, and two half baths typically sells for $2.2 to $2.5 million.
Some of the best land never appears on the MLS. Off-market lots give buyers access to prime sites without the competition. In Fairfax County, teardowns are reshaping neighborhoods, proving the house is temporary but the land is the true asset. With the right lot, price, and plan, an outdated property can become a multimillion-dollar dream home.
If you have any questions about teardowns or want to explore available opportunities, feel free to reach out at (703) 286-9771 or [email protected]. I’d be happy to walk you through the process, help you evaluate lots, and connect you with off-market opportunities.
