Thoughts on this house in Arlington (Bluemont)?

[Anonymous]

Anonymous wrote:How the hell do so many people afford houses at a million or over? Our HHI is 260k, we're doing well, but think this would be out of reach. Are people overextending themselves or paying less than 20% down, or is everyone just at lawfirms, or...

I am PP who lives in Bon Air. For those of us who purchased before 2007, the prices were much lower. So there are a lot of federal employees. But for those who purchased the newer homes in the last five years, the prices generally are 900k-$1.5m. Those are a different income bracket. Lots of big firm lawyers, doctors, execs at tysons tech companies.

[Anonymous]

Anonymous wrote:

Anonymous wrote:How the hell do so many people afford houses at a million or over? Our HHI is 260k, we're doing well, but think this would be out of reach. Are people overextending themselves or paying less than 20% down, or is everyone just at lawfirms, or...

I feel like lots of people earn 200k or more these days. Folks I know earning 100k are still living the adolescent apartment life in DC. Our HHI is about 600k.

Delusional

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How the hell do so many people afford houses at a million or over? Our HHI is 260k, we're doing well, but think this would be out of reach. Are people overextending themselves or paying less than 20% down, or is everyone just at lawfirms, or...

I feel like lots of people earn 200k or more these days. Folks I know earning 100k are still living the adolescent apartment life in DC. Our HHI is about 600k.

Delusional

???

How much does the average household with a $1 million dollar house make? $400k?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How the hell do so many people afford houses at a million or over? Our HHI is 260k, we're doing well, but think this would be out of reach. Are people overextending themselves or paying less than 20% down, or is everyone just at lawfirms, or...

I feel like lots of people earn 200k or more these days. Folks I know earning 100k are still living the adolescent apartment life in DC. Our HHI is about 600k.

Delusional

???

How much does the average household with a $1 million dollar house make? $400k?

$1 million house is doable with 300k if no significant other expenses like student loans or nanny.

[Anonymous]

its ok

[Anonymous]

Ok

[Anonymous]

There is now way I am spending over a mill for a home in Arlington. I could live in Bethesda or McLean at that price point.

[Anonymous]

Anonymous wrote:There is now way I am spending over a mill for a home in Arlington. I could live in Bethesda or McLean at that price point.

Agreed. Arlington sucks.

[Anonymous]

Anonymous wrote:

Anonymous wrote:There is now way I am spending over a mill for a home in Arlington. I could live in Bethesda or McLean at that price point.

Agreed. Arlington sucks.

I wouldn't go that far, but I'm not paying over a million dollars for a house in Alrington either. As PP said, you can buy in much fancier neighborhoods. North Arlington is a fantastic area for between 750k and 950k. I just don't like it at higher price points. I know there are some nice parts of North Arlington that regularly sell at the higher price points, but I wouldn't be one of those buyers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is now way I am spending over a mill for a home in Arlington. I could live in Bethesda or McLean at that price point.

Agreed. Arlington sucks.

I wouldn't go that far, but I'm not paying over a million dollars for a house in Alrington either. As PP said, you can buy in much fancier neighborhoods. North Arlington is a fantastic area for between 750k and 950k. I just don't like it at higher price points. I know there are some nice parts of North Arlington that regularly sell at the higher price points, but I wouldn't be one of those buyers.

You either got the coins or you don't.

If you work in city, then Arlington is a natural choice for good schools and commute time.
I live in Arlington in over $1M home because to me time is a prime asset in life. I love knowing I can drive-in 15 minutes or this week in 10 minutes to DC.
Schools may be overrated but I like being able to be there to help my kids with their homework.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is now way I am spending over a mill for a home in Arlington. I could live in Bethesda or McLean at that price point.

Agreed. Arlington sucks.

I wouldn't go that far, but I'm not paying over a million dollars for a house in Alrington either. As PP said, you can buy in much fancier neighborhoods. North Arlington is a fantastic area for between 750k and 950k. I just don't like it at higher price points. I know there are some nice parts of North Arlington that regularly sell at the higher price points, but I wouldn't be one of those buyers.

You either got the coins or you don't.

If you work in city, then Arlington is a natural choice for good schools and commute time.
I live in Arlington in over $1M home because to me time is a prime asset in life. I love knowing I can drive-in 15 minutes or this week in 10 minutes to DC.
Schools may be overrated but I like being able to be there to help my kids with their homework.

Nothing wrong with your choice, but I agree with the PP. Arlington does not have the name recognition, prestige, amenities or schools that I would want at that price point. I'd certainly prefer Bethesda, McLean or Chevy Chase over Arlington at that price point.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is now way I am spending over a mill for a home in Arlington. I could live in Bethesda or McLean at that price point.

Agreed. Arlington sucks.

I wouldn't go that far, but I'm not paying over a million dollars for a house in Alrington either. As PP said, you can buy in much fancier neighborhoods. North Arlington is a fantastic area for between 750k and 950k. I just don't like it at higher price points. I know there are some nice parts of North Arlington that regularly sell at the higher price points, but I wouldn't be one of those buyers.

You either got the coins or you don't.

If you work in city, then Arlington is a natural choice for good schools and commute time.
I live in Arlington in over $1M home because to me time is a prime asset in life. I love knowing I can drive-in 15 minutes or this week in 10 minutes to DC.
Schools may be overrated but I like being able to be there to help my kids with their homework.

Nothing wrong with your choice, but I agree with the PP. Arlington does not have the name recognition, prestige, amenities or schools that I would want at that price point. I'd certainly prefer Bethesda, McLean or Chevy Chase over Arlington at that price point.

What kind of amenities?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How the hell do so many people afford houses at a million or over? Our HHI is 260k, we're doing well, but think this would be out of reach. Are people overextending themselves or paying less than 20% down, or is everyone just at lawfirms, or...

I feel like lots of people earn 200k or more these days. Folks I know earning 100k are still living the adolescent apartment life in DC. Our HHI is about 600k.

Delusional

???

How much does the average household with a $1 million dollar house make? $400k?

$1 million house is doable with 300k if no significant other expenses like student loans or nanny.

People are very conservative on this board. With interest rates as low as they are, even with student loans and child care, $300K is enough to buy a $1M house.
https://www.zillow.com/mortgage-calculator/house-affordability/

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is now way I am spending over a mill for a home in Arlington. I could live in Bethesda or McLean at that price point.

Agreed. Arlington sucks.

I wouldn't go that far, but I'm not paying over a million dollars for a house in Alrington either. As PP said, you can buy in much fancier neighborhoods. North Arlington is a fantastic area for between 750k and 950k. I just don't like it at higher price points. I know there are some nice parts of North Arlington that regularly sell at the higher price points, but I wouldn't be one of those buyers.

You either got the coins or you don't.

If you work in city, then Arlington is a natural choice for good schools and commute time.
I live in Arlington in over $1M home because to me time is a prime asset in life. I love knowing I can drive-in 15 minutes or this week in 10 minutes to DC.
Schools may be overrated but I like being able to be there to help my kids with their homework.

Nothing wrong with your choice, but I agree with the PP. Arlington does not have the name recognition, prestige, amenities or schools that I would want at that price point. I'd certainly prefer Bethesda, McLean or Chevy Chase over Arlington at that price point.

I'm trying to understand.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is now way I am spending over a mill for a home in Arlington. I could live in Bethesda or McLean at that price point.

Agreed. Arlington sucks.

I wouldn't go that far, but I'm not paying over a million dollars for a house in Alrington either. As PP said, you can buy in much fancier neighborhoods. North Arlington is a fantastic area for between 750k and 950k. I just don't like it at higher price points. I know there are some nice parts of North Arlington that regularly sell at the higher price points, but I wouldn't be one of those buyers.

You either got the coins or you don't.

If you work in city, then Arlington is a natural choice for good schools and commute time.
I live in Arlington in over $1M home because to me time is a prime asset in life. I love knowing I can drive-in 15 minutes or this week in 10 minutes to DC.
Schools may be overrated but I like being able to be there to help my kids with their homework.

Nothing wrong with your choice, but I agree with the PP. Arlington does not have the name recognition, prestige, amenities or schools that I would want at that price point. I'd certainly prefer Bethesda, McLean or Chevy Chase over Arlington at that price point.

I'm trying to understand.

Name recognition and prestige are two things I'm not willing to spend a penny on.