Are we the only family in the DMV who is priced out?

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is us too, OP. We have about 250k set aside, a 350k HHI, one car paid off, two kids in public, no debt, but we can’t find a 1800 sq ft 3br WOTP anywhere. I don’t need detached. I don’t need off street parking. There is simply no inventory in this range. We were striving to get something in the 950-1.1 range years back but now those crummy small houses are more like 1.3 and there are almost never any on the market.

Look a bit north in 20814. On Zillow I found a handful of houses meeting your criteria.

Thanks for the tip, but we live in DC and don’t want to leave. It would require an additional car (and our old one would surely die soon with commuting), hours more spent commuting each day, and more. I prioritize a walkable lifestyle for my mental health and I know it’s a luxury, but I don’t believe that a walkable lifestyle should be a luxury for anybody. I would just really love a small 3br home somewhere in our community. It’s crazy that we are rich but still can’t afford that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:DH and I are early 40s, two kids, HHI 300k gross. We have a downpayment of 300k set aside but are only interested in single family homes that are not total teardowns. We are priced out and have stopped looking.

DH interviewed for a higher paying job this summer but didn't pass the second round. I'm earning the max I can earn with my qualifications. Kids in public school and we are renting right now.

Are we the only ones in this situation?

What do you consider a tear down?

A house that requires more than 100k of rehab work after purchase or cannot be rehabbed without being torn down to the foundation.

The realtor we looked at houses with showed us two of these. Then he told us to ask our parents for another 200k so he could put us into a house for 1.1.

We have credit scores over 800.

A big part of the problem is this expectation that everybody needs to spend $100k plus on a sparkling new kitchen and bathrooms, and let's redo the floors while we're at it.

Some of you need to learn to live with dated kitchen cabinets for a few or even 10 years. Splurge on a new stove if you want.

This. Buying a home (or in OP's case upgrading to a SFH) in a HCOL area requires either A) a lot of money or B) sacrifices. Renting a SFH was a poor decision, OP. You should have stayed in the condo and lived on a strict budget until you could afford to buy a SFH. If you're in your 40's now and you have kids, then you had years to figure this out and save.

I lived very cheaply with roommates and saved for a home. DH did the same. We each bought before we met. We lived in my home with dated everything and fixed it up as time and money allowed. We each bought a home, then got married, then had kids. You can switch the order of marriage and buying a home, but it's really hard to save for a SFH when you're paying for childcare and don't have a high HHI.

If you're really serious about buying a SFH, then you need to cut your costs to save more. Spending a lot on renting a SFH when your HHI is $300K and you already have kids makes it hard to save for a SFH.

I am paying 2.5k/month in rent and have no debt. Did I cut expenses enough for you?

I'll try dog food for the family, too. That might help us save enough.

$2,500 is a lot to spend on rent with your HHI when also trying to save to buy a house. Many of us explained to you that you chose not to scrimp and save earlier. That's how many of us in your situation afforded to buy the SFH. You want what other people have without making the sacrifices they made.

But the bigger point is that you can't afford what you want now because you can't go back in time and make different decisions. So if you want to buy a house now, then you either cut expenses (including rent) to save more, increase income, or reassess your criteria.

OP is being defensive but lol at the idea that 2500 is a lot to spend on rent for a family.

But ultimately OP - I agree with the PPs who say you need to shift expectations. We have your numbers and purchased a house within the past year in Silver Spring just outside the beltway (so, near the Forest Glen metro). Decent schools, nice communities, and well within your price range. I think you’re more interested in NOVA but just wanted to share a MoCo option in case you’re actually looking for solutions here (or in case it’s helpful for someone else).

$2,500 is a lot to spend on rent, period. OP is forced into paying this now because she didn't take the opportunity to save more before kids.

$2500/month is the bottom of the market now for any SFH in this area. I own two 1200-SF dumpy houses way out on the red line and they are rented for that much, and the similar available houses are asking more like $2700. OP deserves some guff here but not for this.

No one said that OP could rent a place for her family for less; just that $2,500 is a lot to go out the door each month for rent. OP has to pay it now b/c she has kids, but the smarter people bought homes before they had kids. Once you have kids, it's an uphill battle to pay rent for a whole house for your family while also paying for kid expenses and trying to save to buy a house.

Yes, houses are free so long as you bought them before kids. Everyone knows this.

(/s Seriously you still have to pay taxes, insurance, maintenance, and repair costs even if you no longer have a mortgage. That stuff is EXPENSIVE in this area. OP is doing great with her rent, as well as her savings rate. And no matter how much some of you protest, the majority of million dollar relatively close-in houses ARE absolute dumps and will most likely require lots of actual, legitimate maintenance and repair work, not even getting into cosmetic stuff)

You're making a totally separate argument that OP shouldn't buy. Maybe you're right, but OP wants to buy a house.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is us too, OP. We have about 250k set aside, a 350k HHI, one car paid off, two kids in public, no debt, but we can’t find a 1800 sq ft 3br WOTP anywhere. I don’t need detached. I don’t need off street parking. There is simply no inventory in this range. We were striving to get something in the 950-1.1 range years back but now those crummy small houses are more like 1.3 and there are almost never any on the market.

Look a bit north in 20814. On Zillow I found a handful of houses meeting your criteria.

Thanks for the tip, but we live in DC and don’t want to leave. It would require an additional car (and our old one would surely die soon with commuting), hours more spent commuting each day, and more. I prioritize a walkable lifestyle for my mental health and I know it’s a luxury, but I don’t believe that a walkable lifestyle should be a luxury for anybody. I would just really love a small 3br home somewhere in our community. It’s crazy that we are rich but still can’t afford that.

You’re not rich. That’s the problem. A $300K HHI with two parents working fulltime is middle class in this area, and frankly those salaries are quite average for two educated professionals.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH and I are early 40s, two kids, HHI 300k gross. We have a downpayment of 300k set aside but are only interested in single family homes that are not total teardowns. We are priced out and have stopped looking.

DH interviewed for a higher paying job this summer but didn't pass the second round. I'm earning the max I can earn with my qualifications. Kids in public school and we are renting right now.

Are we the only ones in this situation?

What do you consider a tear down?

A house that requires more than 100k of rehab work after purchase or cannot be rehabbed without being torn down to the foundation.

The realtor we looked at houses with showed us two of these. Then he told us to ask our parents for another 200k so he could put us into a house for 1.1.

We have credit scores over 800.

A big part of the problem is this expectation that everybody needs to spend $100k plus on a sparkling new kitchen and bathrooms, and let's redo the floors while we're at it.

Some of you need to learn to live with dated kitchen cabinets for a few or even 10 years. Splurge on a new stove if you want.

This. Buying a home (or in OP's case upgrading to a SFH) in a HCOL area requires either A) a lot of money or B) sacrifices. Renting a SFH was a poor decision, OP. You should have stayed in the condo and lived on a strict budget until you could afford to buy a SFH. If you're in your 40's now and you have kids, then you had years to figure this out and save.

I lived very cheaply with roommates and saved for a home. DH did the same. We each bought before we met. We lived in my home with dated everything and fixed it up as time and money allowed. We each bought a home, then got married, then had kids. You can switch the order of marriage and buying a home, but it's really hard to save for a SFH when you're paying for childcare and don't have a high HHI.

If you're really serious about buying a SFH, then you need to cut your costs to save more. Spending a lot on renting a SFH when your HHI is $300K and you already have kids makes it hard to save for a SFH.

I am paying 2.5k/month in rent and have no debt. Did I cut expenses enough for you?

I'll try dog food for the family, too. That might help us save enough.

$2,500 is a lot to spend on rent with your HHI when also trying to save to buy a house. Many of us explained to you that you chose not to scrimp and save earlier. That's how many of us in your situation afforded to buy the SFH. You want what other people have without making the sacrifices they made.

But the bigger point is that you can't afford what you want now because you can't go back in time and make different decisions. So if you want to buy a house now, then you either cut expenses (including rent) to save more, increase income, or reassess your criteria.

OP is being defensive but lol at the idea that 2500 is a lot to spend on rent for a family.

But ultimately OP - I agree with the PPs who say you need to shift expectations. We have your numbers and purchased a house within the past year in Silver Spring just outside the beltway (so, near the Forest Glen metro). Decent schools, nice communities, and well within your price range. I think you’re more interested in NOVA but just wanted to share a MoCo option in case you’re actually looking for solutions here (or in case it’s helpful for someone else).

$2,500 is a lot to spend on rent, period. OP is forced into paying this now because she didn't take the opportunity to save more before kids.

$2500/month is the bottom of the market now for any SFH in this area. I own two 1200-SF dumpy houses way out on the red line and they are rented for that much, and the similar available houses are asking more like $2700. OP deserves some guff here but not for this.

No one said that OP could rent a place for her family for less; just that $2,500 is a lot to go out the door each month for rent. OP has to pay it now b/c she has kids, but the smarter people bought homes before they had kids. Once you have kids, it's an uphill battle to pay rent for a whole house for your family while also paying for kid expenses and trying to save to buy a house.

Yes, houses are free so long as you bought them before kids. Everyone knows this.

(/s Seriously you still have to pay taxes, insurance, maintenance, and repair costs even if you no longer have a mortgage. That stuff is EXPENSIVE in this area. OP is doing great with her rent, as well as her savings rate. And no matter how much some of you protest, the majority of million dollar relatively close-in houses ARE absolute dumps and will most likely require lots of actual, legitimate maintenance and repair work, not even getting into cosmetic stuff)

You're making a totally separate argument that OP shouldn't buy. Maybe you're right, but OP wants to buy a house.

No, I am making the argument that paying rent of 2500/month is not in any way a valid criticism of OP

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is us too, OP. We have about 250k set aside, a 350k HHI, one car paid off, two kids in public, no debt, but we can’t find a 1800 sq ft 3br WOTP anywhere. I don’t need detached. I don’t need off street parking. There is simply no inventory in this range. We were striving to get something in the 950-1.1 range years back but now those crummy small houses are more like 1.3 and there are almost never any on the market.

Look a bit north in 20814. On Zillow I found a handful of houses meeting your criteria.

Thanks for the tip, but we live in DC and don’t want to leave. It would require an additional car (and our old one would surely die soon with commuting), hours more spent commuting each day, and more. I prioritize a walkable lifestyle for my mental health and I know it’s a luxury, but I don’t believe that a walkable lifestyle should be a luxury for anybody. I would just really love a small 3br home somewhere in our community. It’s crazy that we are rich but still can’t afford that.

You’re not rich. That’s the problem. A $300K HHI with two parents working fulltime is middle class in this area, and frankly those salaries are quite average for two educated professionals.

PP is not middle class.

[Anonymous]

Reddit is on to OP

https://www.reddit.com/r/nova/comments/176csmb/priced_out_of_nova_according_to_dcum/?utm_source=share&utm_medium=mweb3x&utm_name=mweb3xcss&utm_term=1&utm_content=share_button

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH and I are early 40s, two kids, HHI 300k gross. We have a downpayment of 300k set aside but are only interested in single family homes that are not total teardowns. We are priced out and have stopped looking.

DH interviewed for a higher paying job this summer but didn't pass the second round. I'm earning the max I can earn with my qualifications. Kids in public school and we are renting right now.

Are we the only ones in this situation?

What do you consider a tear down?

A house that requires more than 100k of rehab work after purchase or cannot be rehabbed without being torn down to the foundation.

The realtor we looked at houses with showed us two of these. Then he told us to ask our parents for another 200k so he could put us into a house for 1.1.

We have credit scores over 800.

A big part of the problem is this expectation that everybody needs to spend $100k plus on a sparkling new kitchen and bathrooms, and let's redo the floors while we're at it.

Some of you need to learn to live with dated kitchen cabinets for a few or even 10 years. Splurge on a new stove if you want.

This. Buying a home (or in OP's case upgrading to a SFH) in a HCOL area requires either A) a lot of money or B) sacrifices. Renting a SFH was a poor decision, OP. You should have stayed in the condo and lived on a strict budget until you could afford to buy a SFH. If you're in your 40's now and you have kids, then you had years to figure this out and save.

I lived very cheaply with roommates and saved for a home. DH did the same. We each bought before we met. We lived in my home with dated everything and fixed it up as time and money allowed. We each bought a home, then got married, then had kids. You can switch the order of marriage and buying a home, but it's really hard to save for a SFH when you're paying for childcare and don't have a high HHI.

If you're really serious about buying a SFH, then you need to cut your costs to save more. Spending a lot on renting a SFH when your HHI is $300K and you already have kids makes it hard to save for a SFH.

I am paying 2.5k/month in rent and have no debt. Did I cut expenses enough for you?

I'll try dog food for the family, too. That might help us save enough.

$2,500 is a lot to spend on rent with your HHI when also trying to save to buy a house. Many of us explained to you that you chose not to scrimp and save earlier. That's how many of us in your situation afforded to buy the SFH. You want what other people have without making the sacrifices they made.

But the bigger point is that you can't afford what you want now because you can't go back in time and make different decisions. So if you want to buy a house now, then you either cut expenses (including rent) to save more, increase income, or reassess your criteria.

OP is being defensive but lol at the idea that 2500 is a lot to spend on rent for a family.

But ultimately OP - I agree with the PPs who say you need to shift expectations. We have your numbers and purchased a house within the past year in Silver Spring just outside the beltway (so, near the Forest Glen metro). Decent schools, nice communities, and well within your price range. I think you’re more interested in NOVA but just wanted to share a MoCo option in case you’re actually looking for solutions here (or in case it’s helpful for someone else).

$2,500 is a lot to spend on rent, period. OP is forced into paying this now because she didn't take the opportunity to save more before kids.

$2500/month is the bottom of the market now for any SFH in this area. I own two 1200-SF dumpy houses way out on the red line and they are rented for that much, and the similar available houses are asking more like $2700. OP deserves some guff here but not for this.

No one said that OP could rent a place for her family for less; just that $2,500 is a lot to go out the door each month for rent. OP has to pay it now b/c she has kids, but the smarter people bought homes before they had kids. Once you have kids, it's an uphill battle to pay rent for a whole house for your family while also paying for kid expenses and trying to save to buy a house.

Yes, houses are free so long as you bought them before kids. Everyone knows this.

(/s Seriously you still have to pay taxes, insurance, maintenance, and repair costs even if you no longer have a mortgage. That stuff is EXPENSIVE in this area. OP is doing great with her rent, as well as her savings rate. And no matter how much some of you protest, the majority of million dollar relatively close-in houses ARE absolute dumps and will most likely require lots of actual, legitimate maintenance and repair work, not even getting into cosmetic stuff)

You're making a totally separate argument that OP shouldn't buy. Maybe you're right, but OP wants to buy a house.

No, I am making the argument that paying rent of 2500/month is not in any way a valid criticism of OP

It is when OP also wants to buy an expensive home.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, you’ve gotten a few good suggestions here but you would get more if you started a new thread just with your budget, family size/ages, commute locations and must haves (SF, # of BRs and BAs, lot size, SFH or TH, garage etc. etc.) Good luck!

I'm not outing myself to that level of detail. If you read the thread, I'm sure you can understand why that might be. No matter what I say, there will be raging character assignation and blame shifting, because that's what happens when people who have an income over 80k say that life isn't perfect, or people with incomes under 450k say that they exist in this metro area.

This is hilarious. If this is trolling, I give it a solid A. If this isn't trolling, you have completely lost your perspective.

It's true, life isn't perfect. If that's what you meant to post, it would have been a short thread.

But what you posted amounts to a long whine saying that you can't afford any house in the area, when what is true is that you can't afford something high end in a very niche market that lots of other people want and can afford.

Also, it is character assassination, not assignation. That's several times you've posted that. I hope you don't teach English....

Anyway, you have never answered why many of the areas/houses that people have posted are not good enough for you. Honestly, probably best you move somewhere far away where you can get the McCraftsman of your dreams.

Autocorrect, but I'm sorry, Sister Florence.

All of what you right is projection. I have posted nothing of any of it. It's like you are writing to your adult child. I'm guessing you were triggered by the use of the phrase "priced out", since that is a popular one for posters like you to fixate on.

I have answered those questions without outing myself, but my responses are buried in the pages and pages of triggered rage.

Your phone autocorrects assassination to assignation? Seems unlikely.

You sound like the only person who is triggered. (I live in a nice house in a great neighborhood.) You are basically throwing a tantrum, but that's not going to get you into that Joanna Gaines palace you feel you deserve.

You have never answered why the many areas with affordable houses are beneath your lofty 300k HHI family. No one is going to feel sorry for you, not because we're all Boomers, but because we don't have any sympathy for whiners.

DP and I think you’re the a-hole. I agree with OP. You guys have some seriously weird anger issues about people who are frustrated that what is admittedly a good HHI can’t buy much in this area. Settle down.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is us too, OP. We have about 250k set aside, a 350k HHI, one car paid off, two kids in public, no debt, but we can’t find a 1800 sq ft 3br WOTP anywhere. I don’t need detached. I don’t need off street parking. There is simply no inventory in this range. We were striving to get something in the 950-1.1 range years back but now those crummy small houses are more like 1.3 and there are almost never any on the market.

Look a bit north in 20814. On Zillow I found a handful of houses meeting your criteria.

Thanks for the tip, but we live in DC and don’t want to leave. It would require an additional car (and our old one would surely die soon with commuting), hours more spent commuting each day, and more. I prioritize a walkable lifestyle for my mental health and I know it’s a luxury, but I don’t believe that a walkable lifestyle should be a luxury for anybody. I would just really love a small 3br home somewhere in our community. It’s crazy that we are rich but still can’t afford that.

You’re not rich. That’s the problem. A $300K HHI with two parents working fulltime is middle class in this area, and frankly those salaries are quite average for two educated professionals.

PP is not middle class.

And here we go again. PP is not middle class but gets to live in a very middle class house because real estate is stupid expensive and has skyrocketed way past wages increase. And for some reason you guys think she and people like us should be excited about our original 80s split level with a commute. For $6,000 a month.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is us too, OP. We have about 250k set aside, a 350k HHI, one car paid off, two kids in public, no debt, but we can’t find a 1800 sq ft 3br WOTP anywhere. I don’t need detached. I don’t need off street parking. There is simply no inventory in this range. We were striving to get something in the 950-1.1 range years back but now those crummy small houses are more like 1.3 and there are almost never any on the market.

Look a bit north in 20814. On Zillow I found a handful of houses meeting your criteria.

Thanks for the tip, but we live in DC and don’t want to leave. It would require an additional car (and our old one would surely die soon with commuting), hours more spent commuting each day, and more. I prioritize a walkable lifestyle for my mental health and I know it’s a luxury, but I don’t believe that a walkable lifestyle should be a luxury for anybody. I would just really love a small 3br home somewhere in our community. It’s crazy that we are rich but still can’t afford that.

I don't get it. You can afford a house but not in that area so stop complaining already. Life is about choices.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is us too, OP. We have about 250k set aside, a 350k HHI, one car paid off, two kids in public, no debt, but we can’t find a 1800 sq ft 3br WOTP anywhere. I don’t need detached. I don’t need off street parking. There is simply no inventory in this range. We were striving to get something in the 950-1.1 range years back but now those crummy small houses are more like 1.3 and there are almost never any on the market.

Look a bit north in 20814. On Zillow I found a handful of houses meeting your criteria.

Thanks for the tip, but we live in DC and don’t want to leave. It would require an additional car (and our old one would surely die soon with commuting), hours more spent commuting each day, and more. I prioritize a walkable lifestyle for my mental health and I know it’s a luxury, but I don’t believe that a walkable lifestyle should be a luxury for anybody. I would just really love a small 3br home somewhere in our community. It’s crazy that we are rich but still can’t afford that.

You’re not rich. That’s the problem. A $300K HHI with two parents working fulltime is middle class in this area, and frankly those salaries are quite average for two educated professionals.

PP is not middle class.

And here we go again. PP is not middle class but gets to live in a very middle class house because real estate is stupid expensive and has skyrocketed way past wages increase. And for some reason you guys think she and people like us should be excited about our original 80s split level with a commute. For $6,000 a month.

The aren't living a middle class lifestyle in any way.

[Anonymous]

Anonymous wrote:

Anonymous wrote:When we had a $300k HHI, we put down $200k on a $735k home. While the home was built in the 1970s, it wasn’t a “total tear down” and has served us well!

Did it need foundation work?

The contractors I have spoken with are charging insane amounts for foundation repair right now. That, roof replacement, and electrical are what we are saving up for. Don't want to have a fire, either. Lots of those on the local news.

Have you ever owned a home? Are you only getting info from realtors and contractors who have incentive to scare you into buying right now or spending more?
I have owned 2 1940s houses in Arlington, both with additions done in the 90s. Everything we’ve done has been aesthetic except replacing a furnace - which we knew about from the inspection and priced into our bid. No foundation work. None of my neighbors have needed foundation work and 2 have done significant renovations. We have not had any electrical issues. Both houses had 10+ years left on the roof when we bought them.

I think you are being a bit dramatic and unrealistic.

[Anonymous]

To answer OP's question. No. My single adult DD is priced out at 30 years old. If she is ever to own anything we will have to help her.

[Anonymous]

I think people need to be extraordinarily cautious buying these days at these prices

[Anonymous]

Thanks for the tip, but we live in DC and don’t want to leave. It would require an additional car (and our old one would surely die soon with commuting), hours more spent commuting each day, and more. I prioritize a walkable lifestyle for my mental health and I know it’s a luxury, but I don’t believe that a walkable lifestyle should be a luxury for anybody. I would just really love a small 3br home somewhere in our community. It’s crazy that we are rich but still can’t afford that.

So you don’t want to live in “the entire DMV.” You want to live in the city and in your neighborhood. It’s true there are probably tons of neighborhoods you can’t afford but that’s not the “entire DMV”.

Here’s a cute house in Arlington. https://redf.in/KweB8u