Looking to buy SFH in Fairfax. Is it a good investment
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Anonymous
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Hi,
We are looking to purchase a SFH home in Fairfax, VA. Our price range is between 500k-600k. We have school going kids so good schools will be a priority as well. Commute to work will be roughly 30 minutes from the area. Also, need advice from the locals if fairfax is the best area to look for a home from an investment standpoint? |
Anonymous
| Impossible to guess if real estate is a good investment. Your best bet is to buy a house you can afford, that you will stay in long term, and in a well-regarded school zone. Avoid bad locations like busy streets, near highways, near airports, near industrial locations. |
Anonymous
| We not from the area but I've heard that the homes closer to DC appreciate more as compared to others. We are planning to stay in the house between 2 to 5 years. Perhaps some recommendations on sharp realtors in the area? Work will be close to Reston/Herndon. |
Anonymous
| If I were you, I'd buy in Reston. It's not a bad place to live (I work there but don't live there) and I think property values will continue to be strong there. Plus, it's impossible to overestimate the value of a short commute. |
Anonymous
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Reston is certainly closer to work but I just do not know enough about the area to decide if it's a better area as compared to fairfax and nearby areas. I'm not too overly excited about the schools in Reston. Having said that, i've heard there are some good parks there and nice place to raise kids.
I was leaning more towards, fairfax, annandale, falls church areas. Just trying to go through our research phase at the moment. We are not used to idea of owning a $500K+ home. For that price we can own a mansion in Texas. Therefore, if we are going to be buying something over 500k then it would make sense to think from an investment perspective as well. |
Anonymous
| You don't buy a home as an investment. You buy a home for its utility. |
Anonymous
| I understand that. However, our stay in VA may be short term, 2 to 5 years. That is the reason why we are looking at it as an investment also. We have been living in our current home for 12 years now and I know what you mean about utilities and other benefits. |
Anonymous
LOL NO |
kkhanna
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Oh wow, you moved from Texas? So did we and are quite shocked at the housing market out here  . We have been looking in Fairfax as well but looking at TH. Have you looked at houses in Herndon?
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Anonymous
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We have not looked at Herndon yet. Do you have any specific recommendations. We would be happy with a SFH between 2000-2500 Sq ft.
I know in general prices have been on the rise in Northern Virginia in the past year or so. |
kkhanna
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| We have not looked in Herndon, but have heard that zip code 20171 in Herndon has very good schools. I can put you in touch with our realtor if you are interested. |
Anonymous
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I believe that anything near the tysons silver line will increase greatly in value in comparison to anything else due to the new development. I would look here
http://www.redfin.com/homes-for-sale#!market=dc&max_price=600000&min_price=200000®ion_id=135930®ion_type=7&uipt=1&v=8 |
Anonymous
Not really. No one wants to live near Tysons. |
Anonymous
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If you're going to be working in Reston, then look at homes in both Reston and Herndon. The Franklin Farm/Chantilly Highlands area might be your sweet spot. We bought a little further down the road in Greenbriar, but we liked the Chantilly Highlands neighborhood very much.
Franklin Glen is another good neighborhood, just south of Franklin Farm. |
Anonymous
They are asking about investment and Tyson is building a city right now and a new metro line. No where else is there any other development this large and with potential for ROI. |