200K salary
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Anonymous
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Depends what type of housing you need and what your commute is. Also what your take home pay is, because some companies sponsor healthcare more than others and people end up with much skimpier paychecks buying insurance through one employer vs. the other given the same salary.
You don't have to provide these details, just maybe mention what your monthly housing budget is which would take to consideration your take home paycheck. |
Anonymous
Damn, I was trying to help. You provide an incomplete income picture which is essential to answer the question you asked, I magically figure out it’s likely rental income, then you turn into a Karen. Why come here for advice if you don’t actually want it? |
Anonymous
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+1 on renting a townhouse or a condo. Being a single mom of two, you also want to be efficient on lawn care, maintenance, and other upkeep. Yes you can pay for these services but that's another expense that will lower your savings.
Quick Zillow search shows that similar places can rent for $300-500 cheaper than a monthly mortgage. |
Anonymous
| What about buying a townhouse in the 1M range? Whats your view on that? |
Anonymous
| OP here: I currently live in a paid off condo that my parents own in Arlington. I pay $1100 condo fee/month. Should I just stay living here? Only issue is the space. It’s 2 bed but I would like a bigger home for the kids so we can all have our own room and a yard to play. |
Anonymous
A yard to play? So, not even a TH then, because these don't usually come with a yard to play, but smaller patios. |
Anonymous
| a small outdoor patio is fine or a nearby playground. Having more space is important; not the yard. |
Anonymous
Of course you should stay there! If you buy a place, maintenance will be huge. |
Anonymous
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$1,100 per month condo fee is INSANE. What is that paying for?
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Anonymous
| Pool, 24/7 concierge, tennis courts, gym, sauna, jacuzzi, mail room |
Anonymous
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You can rent townhomes in Vienna, McLean and Dunn Loring for $3,000-$4,000 / month. Just do that, save $100,000 to $200,000 for rainy day fund / help you pay for daycare, and invest the rest in an S&P fund.
In 10-20 years you will thank me. Townhomes around here don’t appreciate nearly as much as the S&P. I’ve seen townhomes sell for maybe 20% to 40% more than what they went for in 2005. If you put $300,000 in the S&P 20 years ago you’d have much more than $1.2 million now. Don’t get trapped in the hassle of buying because of social pressures. It’s an albatross around your neck and a dumb financial move. |
Anonymous
You can't afford a home with a yard to play in that's in Vienna or McLean. I would just stay in Arlington, especially if you already have established kids' schooling/daycares etc. there. |
Anonymous
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You can afford a small SFH in North Arlington that has outdated kitchens and bathrooms like this one selling for $900K.
https://redf.in/4McOxn |
Anonymous
this is a great very family orientated neighborhood. |
Anonymous
Never mind I know this house. Pretty sure it flooded before. |