Condo, move really far out, or keep saving?

[Anonymous]

Townhouse and buy with the Va loan

[Anonymous]

I don't care if it's a condo or a McMansion, buy what you can comfortably afford with some cushion and not too much stretching. Rent is a total waste of money but homeownership needs you to always have extra money for unknowns.

[Anonymous]

Anonymous wrote:I don't care if it's a condo or a McMansion, buy what you can comfortably afford with some cushion and not too much stretching. Rent is a total waste of money but homeownership needs you to always have extra money for unknowns.

They aren’t unknowns. You will constantly be paying money to upkeep the house. You can price out what it will cost to replace each element of your house over the next few decades. Money spent on taxes and mortgage interest and HOAs you will never get back. She could easily pay 2k a month on those three things, before touching the principal and making repairs.

[Anonymous]

Rent is not throwing money away, but you need to save aggressively while you have this cheaper rent. I invest the money rather than just save or I would not be keeping up with the housing prices.
$2k is a good rental price. I'm paying that for studio in DC because they raised the price.
Annandale had some townhouses your could afford, but don't be in such hurry to buy right now. Your kids are still young. They really don't care where they lives as much as you do.
Don't be in a hurry to buy with little down-payment, high interest rates, limited inventory, such a good rental price, and much-much higher total housing payment.

[Anonymous]

Anonymous wrote:Rent is not throwing money away, but you need to save aggressively while you have this cheaper rent. I invest the money rather than just save or I would not be keeping up with the housing prices.
$2k is a good rental price. I'm paying that for studio in DC because they raised the price.
Annandale had some townhouses your could afford, but don't be in such hurry to buy right now. Your kids are still young. They really don't care where they lives as much as you do.
Don't be in a hurry to buy with little down-payment, high interest rates, limited inventory, such a good rental price, and much-much higher total housing payment.

I agree. People are too quick to view home ownership as an investment. It can be, but it’s not always that simple.

[Anonymous]

Manassas may be cheaper, but relying on 66 for a commute will be hell, as will 95 North from Woodbridge. Look further out in other directions, maybe Reston/Herndon/Sterling now that there is a Metro. Tons of new THs popping up.

[Anonymous]

You might find this tool useful:
https://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html

One thing to consider: 3brm condos are in short supply.

[Anonymous]

Anonymous wrote:Manassas may be cheaper, but relying on 66 for a commute will be hell, as will 95 North from Woodbridge. Look further out in other directions, maybe Reston/Herndon/Sterling now that there is a Metro. Tons of new THs popping up.

There’s always the VRE to Crystal City.

[Anonymous]

The last 15 years have been an anomaly. Historically homes do not appreciate faster than the same amount put into equities.

[Anonymous]

How much can you spend?

https://www.zillow.com/homedetails/5115-Arrit-Ct-Burke-VA-22015/51874385_zpid/

Close to VRE if he is going to CC, and not a horrible drive if going to TC.

If you can spend more, I'd look at the homes in 22151 that are arougn $600K