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

[Anonymous]

Hm, same age, same HHI, same down payment and we just bought inside the beltway northern Fairfax County. Not sure what your expectations are.

[Anonymous]

We live in Silver Spring near Forest Glen metro and you could have a lovely house and great life around here with your DP and HHI

[Anonymous]

OP where did you end up?

[Anonymous]

Anonymous wrote:OP where did you end up?

Oxon hill md

[Anonymous]

You aren’t priced out. You aren’t looking in the right place.

[Anonymous]

Price calculators suggest you can afford a house that is between 1mil and 1.5mil.

Remember that your incomes are likely to increase, as will the equity in your home, so pinching the wallet for a while may be worth what you have for yourselves in 10 years.

[Anonymous]

This entire thread is insanity. I hope the OP found a house. But sheesh

[Anonymous]

You’re not priced out. Your expectations are too high. I live in Potomac where you can still buy a SFH with a yard and great schools for under 1 M. It will be a 2000 sf house built in the 70s but it’s not a bad life. To claim you’re priced out with your down payment and income is entitled. Do I wish we had a bigger and more modern house? You bet! But we are lucky because many can’t afford what we have.

[Anonymous]

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?

300k total income is pretty low for a dual income household tbh.

[Anonymous]

Same - I would go for a town house easily, but DH wants metro or bikable to work in DC. Ugh!

[Anonymous]

Always buy a house on the basis of one income. If you can't afford the mortgage with one income forget it. This will also give you a realistic view of your ability to buy another house if you were to divorce.

[Anonymous]

Anonymous wrote:Same - I would go for a town house easily, but DH wants metro or bikable to work in DC. Ugh!

Your DH isn't a single guy any more. What he personally wants is not what's best for your family, sheesh. Grow up Manboy.

[Anonymous]

yes, you are. /s

[Anonymous]

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?

300k total income is pretty low for a dual income household tbh.

GTFO

[Anonymous]

Home prices are already dipping in the DMV. That trend will likely continue for the next year or so.