Only 400k to spend: don't mind small but want nice

[Anonymous]

Where would you look? I need at least three bedrooms but it can be small square footage wise. I love the little Cape Cods in Falls Church and Arlington but they're a little bit out of reach financially. Any ideas?

[Anonymous]

Do you care about schools?

[Anonymous]

Single family, townhouse or condo?

[Anonymous]

Just want to say to OP that you're doing well to have 400k to spend on a house. there are MANY people in this country, even area, that will never have that much.

We'll be house shopping next year and will "Only" have 400-450 to spend, and I feel like that's a big accomplishment that gets minimized in this area of small homes costing half a million

[Anonymous]

Anonymous wrote:Just want to say to OP that you're doing well to have 400k to spend on a house. there are MANY people in this country, even area, that will never have that much.

We'll be house shopping next year and will "Only" have 400-450 to spend, and I feel like that's a big accomplishment that gets minimized in this area of small homes costing half a million

OP here. You're absolutely right. I feel like I'm doing very well professionally and financially. It's quite discouraging to see how limited I am in real estate, though. How do people get so much money, especially in a city with so many feds? I assume trust funds.

[Anonymous]

Anonymous wrote:Do you care about schools?

Somewhat. I have a baby. But obviously schools won't be important for a while.

[Anonymous]

Anonymous wrote:Single family, townhouse or condo?

I'd prefer single family but would consider a townhouse. Don't want a condo.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Just want to say to OP that you're doing well to have 400k to spend on a house. there are MANY people in this country, even area, that will never have that much.

We'll be house shopping next year and will "Only" have 400-450 to spend, and I feel like that's a big accomplishment that gets minimized in this area of small homes costing half a million

OP here. You're absolutely right. I feel like I'm doing very well professionally and financially. It's quite discouraging to see how limited I am in real estate, though. How do people get so much money, especially in a city with so many feds? I assume trust funds.

You assume wrong. And that was not a nice comment either. I do not know one single person with a trust fund. Many manage it on their own.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just want to say to OP that you're doing well to have 400k to spend on a house. there are MANY people in this country, even area, that will never have that much.

We'll be house shopping next year and will "Only" have 400-450 to spend, and I feel like that's a big accomplishment that gets minimized in this area of small homes costing half a million

OP here. You're absolutely right. I feel like I'm doing very well professionally and financially. It's quite discouraging to see how limited I am in real estate, though. How do people get so much money, especially in a city with so many feds? I assume trust funds.

You assume wrong. And that was not a nice comment either. I do not know one single person with a trust fund. Many manage it on their own.

I don't have a single friend in this area who has bought above the $500k range without help from parents.

[Anonymous]

Spend the max you can qualify for , real estate is only going up for at least 2 years

[Anonymous]

How long a commute are you willing to tolerate and where are you commuting to?

[Anonymous]

If you have a baby, you really should care about schools when buying a house. Four or five years is a short time span to recoup an investment in a house - you really can't plan on covering the costs of resale/moving in that time.

[Anonymous]

Cheverly. Clarksburg. Michellville. Frederick.

[Anonymous]

If you are interested in Northern Virginia, then Annandale would be your best bet inside the beltway with your budget. Outside, look in the Fairfax county part of Alexandria.
There are also some TH options a bit farther out in Burke close to the VRE, which may be a commuting option.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just want to say to OP that you're doing well to have 400k to spend on a house. there are MANY people in this country, even area, that will never have that much.

We'll be house shopping next year and will "Only" have 400-450 to spend, and I feel like that's a big accomplishment that gets minimized in this area of small homes costing half a million

OP here. You're absolutely right. I feel like I'm doing very well professionally and financially. It's quite discouraging to see how limited I am in real estate, though. How do people get so much money, especially in a city with so many feds? I assume trust funds.

You assume wrong. And that was not a nice comment either. I do not know one single person with a trust fund. Many manage it on their own.

I don't have a single friend in this area who has bought above the $500k range without help from parents.

This. Unless they bought into the market pre-housing bubble.