I will never be able to afford a house in Arlington

[Anonymous]

Anonymous wrote:This is OP. I work at DOJ. Right now my job is in NOMa. With a change in administration, it could move to Main Justice, which is near Federal Triangle or it could move to Gallery Place. If my work location stays in NOMA, I am considering moving to Silver Spring even though my family and friends are in Virginia.

Stop vilifying Silver Spring. You can afford a home here and have a good quality of life for you and your kids.

How old are your kids? Is their father providing child support? You could always stay in your condo until they're grown and retire somewhere less expensive.

[Anonymous]

I live here in Arlington as a GS-14, married to a GS-15. The home values have certainly gone up in the past years. It costs what it costs.

If we were buying now with just a 20% down payment, I would look elsewhere. I would do the same on a single $170k income. There are other places that can be great too, for example Falls Church, Vienna, Fairfax, Annandale.

[Anonymous]

Anonymous wrote:I live here in Arlington as a GS-14, married to a GS-15. The home values have certainly gone up in the past years. It costs what it costs.

If we were buying now with just a 20% down payment, I would look elsewhere. I would do the same on a single $170k income. There are other places that can be great too, for example Falls Church, Vienna, Fairfax, Annandale.

I'd add, Silver Spring, Rockville.

[Anonymous]

Anonymous wrote:If we are all WFH how does Maryland vs VA matter for middle class folks?

I mean a middle class man with SAH wife making 150k with three older kids might have 3-4 cars in driveway and pay not much MoCO tax anyhow. Between college deductions, mortgage write off dependents and lower tax bracket might cost more tax wise in VA.

Add in higher mortgage and slightly higher property tax for sale size house may be a loss

It is only a slam dunk 100 percent high income folks in Va

I'm a woman making $170k with 2 kids and I would not be living where I am without my husband's salary.

It would be rough to do it on my salary--and there is no way I'd be able to buy anything in close proximity to DC with 3 kids on that single salary.

My husband makes two-3 times my salary and that is how we were able to buy in Arlington.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If we are all WFH how does Maryland vs VA matter for middle class folks?

I mean a middle class man with SAH wife making 150k with three older kids might have 3-4 cars in driveway and pay not much MoCO tax anyhow. Between college deductions, mortgage write off dependents and lower tax bracket might cost more tax wise in VA.

Add in higher mortgage and slightly higher property tax for sale size house may be a loss

It is only a slam dunk 100 percent high income folks in Va

I'm a woman making $170k with 2 kids and I would not be living where I am without my husband's salary.

It would be rough to do it on my salary--and there is no way I'd be able to buy anything in close proximity to DC with 3 kids on that single salary.

My husband makes two-3 times my salary and that is how we were able to buy in Arlington.

I can. I just put a larger downpayment down. I can’t afford a large mortgage as I am middle class. So I just figure monthly payment and adjust downpayment. I actually owned my own home on 61k a year at one point by putting 40 percent down My current home I put 60 percent down.

[Anonymous]

When we bought our house in Silver Spring 3 years ago, DH and my combined income was only $180K, plus since we're married filing jointly, we paid way more Fed and Maryland taxes than a single $170K earner. She can buy a SFH in Silver Spring if she values a house and a yard over a condo.

[Anonymous]

Anonymous wrote:I have lived in Arlington for 15 years, mostly as a renter. I bought a condo a couple of years ago because that’s what I can afford and I wanted to stay in Arlington for the commute and because my kids are in school here. I’m in my mid 40s. I’m a single mom. Income of $170k. Even if I sell this condo in a few years and break even or make a small profit and am able to roll that money into a down payment on a larger home, I will never be able to afford the monthly payment on a larger home because my income isn’t going up. I’m maxed out as a GS15. So my choices are live in a condo forever, change jobs, or move further out, right? There is no property ladder for me.

TL/DR
Condos get a bad rap in the U.S. I've lived in condos my whole life (am German) and frankly miss the ease of living in one.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:And I will never be able to afford a Lamborghini and make do with my 12 year old Honda that is running just fine. I will also never be able to afford to go on a safari in Africa, so, we visit the National Zoo and make due with a week at the beach.

You can't always get what you want
But if you try sometime you find
You get what you need

This is OP. I hear this point. I hear that posters are saying I sound entitled. And you’re right. I suppose I
AM feeling entitled. I think a successful lawyer who has been practicing for 20 years should be able to afford a small SFH in the DC with a commute of 45 minutes or less door to door and good schools.

But you're competing against dual incomes, family money, folks that got into real estate right before the boom. . .

I want a house with a view, but behind us is a huge high-rise so I look out my back windows and see brick.

And (while I know this will get me flack), you decided to have two kids (at least one still pretty young) on one relatively fixed income. I live in Arlington and wouldn't be able to do that either (and I'm also a successful lawyer with 20 years of experience). You made choices, for whatever reasons that make sense to you, and that's fine. But you also have to live with the consequences.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:And I will never be able to afford a Lamborghini and make do with my 12 year old Honda that is running just fine. I will also never be able to afford to go on a safari in Africa, so, we visit the National Zoo and make due with a week at the beach.

You can't always get what you want
But if you try sometime you find
You get what you need

This is OP. I hear this point. I hear that posters are saying I sound entitled. And you’re right. I suppose I
AM feeling entitled. I think a successful lawyer who has been practicing for 20 years should be able to afford a small SFH in the DC with a commute of 45 minutes or less door to door and good schools.

But you're competing against dual incomes, family money, folks that got into real estate right before the boom. . .

I want a house with a view, but behind us is a huge high-rise so I look out my back windows and see brick.

And (while I know this will get me flack), you decided to have two kids (at least one still pretty young) on one relatively fixed income. I live in Arlington and wouldn't be able to do that either (and I'm also a successful lawyer with 20 years of experience). You made choices, for whatever reasons that make sense to you, and that's fine. But you also have to live with the consequences.

Gross.

[Anonymous]

If you want to be a single income lawyer living in a SFH in North Arlington, you really need to be a lawyer like my old friend who is a partner at Arnold & Porter.

That is what a single income North Arlington lawyer living in a SFH home looks like. Maybe you might have to live in Falls Church, South Arlington or Annandale. Oh, the horror. What will your friends think?

[Anonymous]

My buddy made an absolute fortune in a coop. It was a six unit building that was very run down he bought in earth 90s. Over 25 years he acquired all the units as older folks died off. He rents five of units and it is a large Brownstone type building. His wife and kids Kept basement, roof and rear yard access.

He can sell whole building or piece meal building which is big perk.

[Anonymous]

I think the thing that is kind of crazy is the type of person who lives in Arlington now has changed so much in like 15 years. I stayed with a family friend for an internship in 2008 and there neighbors were like non-SES feds. Now it’s all big law attorneys and twenty year olds whose parents give them all cash. Completely different place.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If we are all WFH how does Maryland vs VA matter for middle class folks?

I mean a middle class man with SAH wife making 150k with three older kids might have 3-4 cars in driveway and pay not much MoCO tax anyhow. Between college deductions, mortgage write off dependents and lower tax bracket might cost more tax wise in VA.

Add in higher mortgage and slightly higher property tax for sale size house may be a loss

It is only a slam dunk 100 percent high income folks in Va

I'm a woman making $170k with 2 kids and I would not be living where I am without my husband's salary.

It would be rough to do it on my salary--and there is no way I'd be able to buy anything in close proximity to DC with 3 kids on that single salary.

My husband makes two-3 times my salary and that is how we were able to buy in Arlington.

I can. I just put a larger downpayment down. I can’t afford a large mortgage as I am middle class. So I just figure monthly payment and adjust downpayment. I actually owned my own home on 61k a year at one point by putting 40 percent down My current home I put 60 percent down.

If you’re truly middle class, how long did it take you to save $600,000 for a 60% down payment on an Arlington SFH. Or wait, did you actually buy 10+ years ago when the home price was $600,000 total?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If we are all WFH how does Maryland vs VA matter for middle class folks?

I mean a middle class man with SAH wife making 150k with three older kids might have 3-4 cars in driveway and pay not much MoCO tax anyhow. Between college deductions, mortgage write off dependents and lower tax bracket might cost more tax wise in VA.

Add in higher mortgage and slightly higher property tax for sale size house may be a loss

It is only a slam dunk 100 percent high income folks in Va

I'm a woman making $170k with 2 kids and I would not be living where I am without my husband's salary.

It would be rough to do it on my salary--and there is no way I'd be able to buy anything in close proximity to DC with 3 kids on that single salary.

My husband makes two-3 times my salary and that is how we were able to buy in Arlington.

I can. I just put a larger downpayment down. I can’t afford a large mortgage as I am middle class. So I just figure monthly payment and adjust downpayment. I actually owned my own home on 61k a year at one point by putting 40 percent down My current home I put 60 percent down.

If you’re truly middle class, how long did it take you to save $600,000 for a 60% down payment on an Arlington SFH. Or wait, did you actually buy 10+ years ago when the home price was $600,000 total?

Because I bought a one bedroom coop with no parking in older building when single on a foreclosure. I lived there when after married for awhile. Then I bought a starter home that needed work and put down 40 percent. Then I paid off mortgage a bit xtra each month for 15 years then sold and bought my new place for 60 percent down. Rolling prior home and 200k savings into new home

[Anonymous]

Plenty of cheaper homes to buy in south Arlington. North Arlington is so expensive because that is the only part of the county people like OP will consider. If you are going to be picky, then you lose out.