Anonymous wrote:
Anonymous wrote:In many areas, houses don’t appreciate as much as they used to. The property ladder requires much more strategy now - and more money to start. Condos and townhouses are especially risky. So if you bought your starter home 20 years ago, spare is your lectures.
20+ years ago when I bought my starter home, I purchased in Falls Church, Fairfax a 3BR, 2BA Colonial about 1,500 sq ft for less than $300K. I wanted to purchase a home in Arlington near the Clarendon / Courthouse Metros, but you know what, that area was a shithole 25 years ago, and people wondered why I wanted to live in Arlington, and I got talked out of buying in 22201 / 22209 since it was not a great place to live. There were strip clubs, dive bars, used car dealerships, and even a murder in a used car lot while I was living there. It was not always a desirable place to live, but that has changed over time - similar to what will happen to other currently less desirable neighborhoods. I got on the property ladder, not in the location I wanted, and my future spouse did the same independently. We are now in Clarendon with a moderate SFH less than 3,500 sq ft. Just want to remind people that close-in Arlington was not always considered a nice place to live.