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

[Anonymous]

Lol $300k HHI in your early 40s does not make you rich. DH and I are a bit younger than you with the same income and number of kids. We have a 3,000 square foot SFH…because we moved from a walkable neighborhood we loved in the city to the suburbs.

[Anonymous]

I’m sorry you had a bad experience in a condo/townhouse before, but that doesn’t mean you’ll have it again. If you want to be walkable in DC or very close in you’re priced out of SFH and most townhouses. I would get on board with the idea of a townhouse ASAP. It will be fine.

Walkable downtown Bethesda, reasonable HOA fee:
https://www.redfin.com/MD/Chevy-Chase/4819-Chevy-Chase-Dr-20815/unit-186/home/10695528?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

Less walkable but ok in dc: https://www.redfin.com/DC/Washington/3297-Sutton-Pl-NW-20016/unit-D/home/9951408?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

Alexandria? Super cute area: https://www.redfin.com/DC/Washington/3297-Sutton-Pl-NW-20016/unit-D/home/9951408?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

Silver spring downtown is so much better than 10-15 yrs ago: https://www.redfin.com/MD/Silver-Spring/8509-2nd-Ave-20910/home/11153195?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

[Anonymous]

This one has some potential. Updates needed but it has good bones.

https://redf.in/RBIqoM

And before y’all get on about the schools. My kids grew up in this triangle and went through it and went to william and Mary and UVA, as most of our neighbors kids did too or other great colleges. The kids with good parents and socioeconomic status similar to yours do just fine if not better at the more diverse schools anyhow. But that’s all personal I know but it worked out for us and seems to for the families we know.

[Anonymous]

Anonymous wrote:

Anonymous wrote:https://www.redfin.com/VA/Falls-Church/2931-Woodlawn-Ave-22042/home/9561409?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

Close in, cute neighborhood. Schools are just okay, but there are houses you can afford out there. You just need to realize you can’t have it all.

Schools are not “just okay”, they are quite challenged.

Those schools are slowly changing. Falls Church and Annandale areas are seeing a rise in Arlington families that are moving out a bit with young kids for space. Those schools have low rankings because of FARMS but they have good IB and AP programs for the non-FARMS kids. Give it 5 to 10 years and there will be a shift in those schools.

[Anonymous]

Anonymous wrote:Back when my kids were little I too was a loser like the OP. I say it in a nice way.

I felt priced out. Had a stick up my Ass had to be right neighborhood, right house, right school district, close in. But something I really could not afford. My wife was pregnant and getting bigger and baby was due. We were still in my one bedroom coop.

After touring 200-300 houses in richer areas from engagement through beginning of marriage at an open house in a neighborhood that was a stretch a realtor at open house took me aside and said I got a pocket listing doing open house on Sunday. Guy had bad divorce and business is failing has to sell. Trust me will be great your family.

We go over this very blue collar area. Small house 1,300 sf on 60x100 plot. Brown oven, yellow dishwasher, cracked floors, rusty screen doors, filthy dirty in need of paint job and yard a mess and electrical panel shot.

Guess what wife wanted it. Our very small downpayment in richer area was 45 percent down on this cheap house. We fixed it up on our own over next 15 years.

My wife a few months later quit work, we had three kids, paid off small mortgage in 9 years. Lived mortgage free 11 years. Took tons of trips and activities. My salary went up to 400k a year.

I did sell as had to relocate and bought the house you are looking for. 6,000 sf on fancy block, close in with best school district. My wife is lonely and no one home all day in these houses except maids and gardeners. My kids don’t consider it home. My kids are a bit ashamed where we live. There is a stigma being in a rich house.

It is not the house that matters. If we bought big house my wife would have traded being with kids their whole childhood and we never would have had a third.

I also get ripped off every home repair or estimate my new house.

I wish I kept my my old little house so when I retire could go back. My large empty house will be depressing

I love this story, and I am sorry that you had to leave your family home.

[Anonymous]

Anonymous wrote:

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



That house is gorgeous and will go quick.

[Anonymous]

OP here: unless other people want to keep battering this topic back and forth, I'm out. DH just got a final interview for a job in another state. He's flying there to interview next week. Fingers crossed. If he gets it, we're moving. I can work anywhere. His job is more specialized so it's harder for him to change jobs, but not impossible.

[Anonymous]

Anonymous wrote:OP here: unless other people want to keep battering this topic back and forth, I'm out. DH just got a final interview for a job in another state. He's flying there to interview next week. Fingers crossed. If he gets it, we're moving. I can work anywhere. His job is more specialized so it's harder for him to change jobs, but not impossible.

Thank You would be nice. Hopefully your next husband will be richer

[Anonymous]

Anonymous wrote:OP here: unless other people want to keep battering this topic back and forth, I'm out. DH just got a final interview for a job in another state. He's flying there to interview next week. Fingers crossed. If he gets it, we're moving. I can work anywhere. His job is more specialized so it's harder for him to change jobs, but not impossible.

Good luck, OP!

[Anonymous]

Anonymous wrote:OP here: unless other people want to keep battering this topic back and forth, I'm out. DH just got a final interview for a job in another state. He's flying there to interview next week. Fingers crossed. If he gets it, we're moving. I can work anywhere. His job is more specialized so it's harder for him to change jobs, but not impossible.

Fingers crossed OP! I love this area but I also agree with you and share all your same frustrations. I hope he gets the job! As much as I like it here, I also hope we get to move so we can actually enjoy some of the money we earn.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We bought a 4 bedroom in Fairfax at half that income and down payment. It’s not my dream home- 50s ranch with a tiny kitchen, but I’m grateful every day for the space my kids have to play, our lovely yard and garden and patio, the good schools.

Would I prefer a bigger kitchen and to not have to share a bathroom with teenagers? Sure. But this was a solid choice and feels like home.

Agreed, we purchased a house under asking 2 years ago with half that income and a smaller down payment. Our monthly mortgage is still less than what we were paying when renting. Is it perfect? No, but everything works and we have lots of plans to update. But for now, my kids are able to have their own rooms, we have half an acre for them to play on and are building a community in our neighborhood.

SMH at people on here trying to lecture OP about not whining when they got a 3% mortgage on 2022. That’s not OP’s situation so your anecdote doesn’t apply. She’s going to pay almost twice your mortgage for today’s interest rates. Home affordability is at an all time low, and your inapplicable personal stories don’t change this economic fact.

[Anonymous]

Anonymous wrote:OP here: unless other people want to keep battering this topic back and forth, I'm out. DH just got a final interview for a job in another state. He's flying there to interview next week. Fingers crossed. If he gets it, we're moving. I can work anywhere. His job is more specialized so it's harder for him to change jobs, but not impossible.

It sounds like a good idea. If you what you really want is a big, new/remodeled house, it makes sense to move somewhere that fits your budget.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here: unless other people want to keep battering this topic back and forth, I'm out. DH just got a final interview for a job in another state. He's flying there to interview next week. Fingers crossed. If he gets it, we're moving. I can work anywhere. His job is more specialized so it's harder for him to change jobs, but not impossible.

Fingers crossed OP! I love this area but I also agree with you and share all your same frustrations. I hope he gets the job! As much as I like it here, I also hope we get to move so we can actually enjoy rsome of the money we earn.

You might be in for a surprise. Home prices increased much more in other locations versus DC. I’m shocked at what my previous home recently sold for in a MCOL city. Then add in the cost of needing 2 cars instead of 1 or even 0 in the city. Home affordability is at an all time low and I wouldn’t assume that moving to another location will end up being a huge savings.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here: unless other people want to keep battering this topic back and forth, I'm out. DH just got a final interview for a job in another state. He's flying there to interview next week. Fingers crossed. If he gets it, we're moving. I can work anywhere. His job is more specialized so it's harder for him to change jobs, but not impossible.

Fingers crossed OP! I love this area but I also agree with you and share all your same frustrations. I hope he gets the job! As much as I like it here, I also hope we get to move so we can actually enjoy rsome of the money we earn.

You might be in for a surprise. Home prices increased much more in other locations versus DC. I’m shocked at what my previous home recently sold for in a MCOL city. Then add in the cost of needing 2 cars instead of 1 or even 0 in the city. Home affordability is at an all time low and I wouldn’t assume that moving to another location will end up being a huge savings.

Yeah close-in and walkable is expensive no matter what city.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here: unless other people want to keep battering this topic back and forth, I'm out. DH just got a final interview for a job in another state. He's flying there to interview next week. Fingers crossed. If he gets it, we're moving. I can work anywhere. His job is more specialized so it's harder for him to change jobs, but not impossible.

Fingers crossed OP! I love this area but I also agree with you and share all your same frustrations. I hope he gets the job! As much as I like it here, I also hope we get to move so we can actually enjoy rsome of the money we earn.

You might be in for a surprise. Home prices increased much more in other locations versus DC. I’m shocked at what my previous home recently sold for in a MCOL city. Then add in the cost of needing 2 cars instead of 1 or even 0 in the city. Home affordability is at an all time low and I wouldn’t assume that moving to another location will end up being a huge savings.

It's true housing costs have gone up everywhere. Though it really just depends on the market you are looking at. We're currently running the numbers on moving to a lower COL city from the DMV and one of the biggest factors is schools. There are cities where, yes, housing costs much more than it did 5 years ago, and yes, we'd be more likely to wind up somewhere requiring a second car. But even with those factors, we could afford to buy IB for the best schools in the metropolitan area.