$450K, Single, 31 Where Would You Buy? (Arlington, Reston: renting, HOA fees, condo)

[Ashley Tauzier]

I second the Mosaic district if you want the night life and restaurants close by for a more affordable price.
I also am a fan of living further out on some land as well. You can get a nice SFH for $450 in Manassas. What would your commute look like though?
My husband is military and we are right about the same age as you. I wish we would have socked away a lot more money pre children. Smart move on your part.

[boyd888]

Originally Posted by DagSocks

What's holding me back is how quickly I can get out of those units and would a nice house further out be a better buy?

If you need to be able to "get out" quickly, why are you even considering buying then? A home is literally the most illiquid thing you can buy. The stuff you have linked is all over the map in size and location. What do you want? A condo in a high rise or a SFH home? Are you buying just to buy?

I think you might find something in an updated townhouse or maybe SFH in Springfield perhaps even Falls Church. Buy close to the beltway and it *should* at least hold it's value. If you are seriously considering a condo I would buy as close to the metro as possible (like within a couple blocks) in a high rise in the newest building because those are the ones that are most desirable, likely to appreciate, and easier to sell. Think like Clarendon 1021 and similar. You could also look along the silver line further out.

I don't think the 75 year old garden condos in Arlington are good purchases. Many of them are rented out and who knows what kind of special assessments you could get nailed with.

[gomason]

Regardless, almost all homes for sale within 15 miles of DC are sold within 7-10 days. This is one of the fastest markets in America.

[DagSocks]

Originally Posted by boyd888

If you need to be able to "get out" quickly, why are you even considering buying then? A home is literally the most illiquid thing you can buy. The stuff you have linked is all over the map in size and location. What do you want? A condo in a high rise or a SFH home? Are you buying just to buy?

I think you might find something in an updated townhouse or maybe SFH in Springfield perhaps even Falls Church. Buy close to the beltway and it *should* at least hold it's value. If you are seriously considering a condo I would buy as close to the metro as possible (like within a couple blocks) in a high rise in the newest building because those are the ones that are most desirable, likely to appreciate, and easier to sell. Think like Clarendon 1021 and similar. You could also look along the silver line further out.

I don't think the 75 year old garden condos in Arlington are good purchases. Many of them are rented out and who knows what kind of special assessments you could get nailed with.

Thanks for your opinion on the 75 year condo's in Arlington, first to say that and I agree. I'm risk averse and always think about the worse case scenario. I'm not worried about losing my job, same one for five years in a high demand field. You are not the first to say I'm all over the map, I agree with you, I'm looking for safe (ability to resale, not crime) that's fairly good for my dog. I don't really want to walk down an indoor hallway then get on an elevator to walk my dog which I do at least five or six times+ between 4 - 11pm.

I've blown a lot of money on rent and it's time to buy. I'm going to be living in this area for a while.

I don't care about the structure itself"
- condo with easy outdoor access and grassy areas for my dag: OK
- Townhouse better
- House too expensive in said areas

Want:
- Live around some young people; probably shouldn't live by myself on acreage in Stafford
- Close to W&OD would be nice
- Max 20-30 minutes from Tysons (work 6-330). Longer than 30 minutes and I'm getting that wooded lot.

[HokieFan]

OP, just keep in mind that with a condo or townhome, you'll have monthly HOA/COA fees to take into consideration. For instance, I like the third listing in your first post but I see that the condo fee is $437 a month. Personally, that would drastically affect how much mortgage I could afford.

Have you checked out Fairlington? I have a friend that has lived in Fairlington for 20-something years, and she loves it.

http://www.zillow.com/homes/for_sale...47_rect/14_zm/

http://www.zillow.com/homes/for_sale...47_rect/14_zm/

http://www.zillow.com/homes/for_sale...47_rect/14_zm/

[JfromReston]

Here are my recommendations for you in Reston.

All have easy access to the toll road for commuting and great places to walk your dog.

10945 HARPERS SQUARE CT, RESTON, VA | MLS FX9008064 | Listing Information | MRIShomes.com
2158 GLENCOURSE LN, RESTON, VA | MLS FX8678234 | Listing Information | MRIShomes.com
11545 HEARTHSTONE CT, RESTON, VA | MLS FX8650414 | Listing Information | MRIShomes.com

[ffx rez]

I don't think you can get between 29 and 50, but inside the beltway between 50, LRT, and Lake Barcroft still has deals occasionally that will most likely hold their value, and will get you to work and nightlife easily.

[fwtxcitywoman]

Southlake, Texas. Best 'burb in the Dallas/Fort Worth area. You cannot go wrong.

[FCNova]

Originally Posted by DagSocks

Thanks for the replies. I spent five years in the Marines after high school, deployed three times and sent 75 percent of that tax free money to my dad who invested it. I plan on using 50% of that money as a down payment. NFCU approved me for a 450K loan which I can afford based on take home pay, 3600 taxes and 300 condo fees.


Primary residence. Yes, got out of marines in 2007, graduated college in 2011 and spent college summers here. I also grew up in one of the areas you suggested and currently live not far from another . I've lived in Arlington for one year, Mclean one year, and Reston about three years.

Ideally I would live on huge wooded with acreage in between Lake Ridge and Manassas but I'm still single and don't want to live out there by myself. So, I'm looking to get the best bang for my buck (condo, townhouse, house) in Arlington, Falls Church, Vienna and similar areas for 5-6 years then get acreage. I'm also open to suggestions for other areas. My primary concern is liquidity and being able to sell if I feel like moving, job security is good.

How liquid can a 400k 2bd / 2ba condo really be? I'm just looking for a safe and smart purchase.

Can anyone help?

Thoughts? 7805 TREVINO LN, FALLS CHURCH, VA, 22043 - MLS# FX8697690 - Estately (Falls Church TH, next to cemetery on 29, no access to Shreve and W&OD)

I would avoid condos and look at townhouses. You're in a price range that could get you in one. You'd have less yard work to deal with than a SFH too. We actually looked at a townhouse in that exact subdivision you listed. Wasn't a bad area but didn't really do it for us. Certainly worth checking out though because YMMV. We ended up buying a townhouse in Vienna near Tysons right off Gallows. Love the area. There are a lot of townhouses around there which would put you in a great spot for working in Tysons. It's also really close to Merrifield/Mosaic district. Some will be over your budget but there are definitely some in the 400s too. Zip code in my area is 22182.

The thing is if your plan is to trade up in 5 years and buy a house w land, I'd just forego buying now altogether and save aggressively. You're not throwing money away renting. Renting has a lot of advantages in the short term. You could very easily lose money by buying now and selling in 5 years. Buying is not a guarantee to make you money.

[MySonsDad]

Falls Church