I was so close and now I’m shut out

[Anonymous]

It does not have to be a great place to start.

I have a 1,200 square foot older garden apt condo I rented to a newlywed couple in Sept 2018. They were making $120k with zero debts and showed me bank info. My complex units were $320k to $340k at time. At lease renewal in Sept 2019 the young wife chatted to wife briefly about rent. We were keeping it the same. She said great they want to save to buy a place. My wife mention my husband told me the unit next door will be listed in next few weeks as an estate sale if you want to stay on complex. The women kinda got snotty and said we are getting house and rambled off two neighborhoods where homes were 800k to 950k.

Well they are still renting. Homes in that rich area are now 1.1-1.3 million and my condo units are $400k to $550k.

By end of this lease year five they will have paid $135,000 in rent, married 5 years and by then will have a 2.5 year old kid.

They were too good a condo or starter home in second tier neighbor hood in 2018.

[Anonymous]

Anonymous wrote:It does not have to be a great place to start.

I have a 1,200 square foot older garden apt condo I rented to a newlywed couple in Sept 2018. They were making $120k with zero debts and showed me bank info. My complex units were $320k to $340k at time. At lease renewal in Sept 2019 the young wife chatted to wife briefly about rent. We were keeping it the same. She said great they want to save to buy a place. My wife mention my husband told me the unit next door will be listed in next few weeks as an estate sale if you want to stay on complex. The women kinda got snotty and said we are getting house and rambled off two neighborhoods where homes were 800k to 950k.

Well they are still renting. Homes in that rich area are now 1.1-1.3 million and my condo units are $400k to $550k.

By end of this lease year five they will have paid $135,000 in rent, married 5 years and by then will have a 2.5 year old kid.

They were too good a condo or starter home in second tier neighbor hood in 2018.

well you're assuming they knew that prices were going to go up by 30-40% since 2020. no one knew that. its easy in retrospect

[Anonymous]

I'm sorry, OP, but you don't need a million dollar house. Move further out like the rest of us. We're seeing nice houses in the $800-900K range.

[Anonymous]

Did OP ever come back to tell us where she's looking at $1.7 Million houses? Is she an Arlington or bust mama?

[Anonymous]

I bought my first place at 25. Cost $83k in 2005. I made $35k a year. You're in the wrong area and asking too much.

[Anonymous]

Anonymous wrote:I'm sorry, OP, but you don't need a million dollar house. Move further out like the rest of us. We're seeing nice houses in the $800-900K range.

Where

[Anonymous]

Can you buy a house and get a roommate to defray the costs?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm sorry, OP, but you don't need a million dollar house. Move further out like the rest of us. We're seeing nice houses in the $800-900K range.

Where

https://www.zillow.com/homedetails/3401-Albion-Ct-Fairfax-VA-22031/51836678_zpid/

[Anonymous]

Anonymous wrote:Can you buy a house and get a roommate to defray the costs?

OP is a single mother of 2 kids.

[Anonymous]

Anonymous wrote:Did OP ever come back to tell us where she's looking at $1.7 Million houses? Is she an Arlington or bust mama?

Sounds like she’s an Arlington or bust person who can’t accept the reality that she’s too poor to afford what she wants. She needs to learn to either buy what she can afford or move further out.

Sorry but I don’t feel bad for her. Nobody told her to sit around and wait for prices to magically drop.

[Anonymous]

Anonymous wrote:I bought my first place at 25. Cost $83k in 2005. I made $35k a year. You're in the wrong area and asking too much.

+1,000

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm sorry, OP, but you don't need a million dollar house. Move further out like the rest of us. We're seeing nice houses in the $800-900K range.

Where

How could possibly be asking this question? I just googled Zillow and there are 200-300 homes in the 600-750k range.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP I can link some nice SFHs in the $190-400k range.

LMAO

Uh yeah. Maybe in Alabama.

Well, maybe relocating to place with lower COL isn’t a bad idea. Only in DMV does a single person with a million dollars to spend feel lower-class, geez.

Sounds like you’re ignorant about what has happened to real estate prices across the country, especially in the sunbelt. Real estate hasn’t increased that much in DC. In fact it’s significantly lagging compared to other locations. OP likely missed the boat to get a good deal in a LCOL state.

You keep saying that but everything kind of close in (still outside the beltway) in NoVa is up 30% in three years.

That is not true. We live in NoVA inside the Beltway and our neighborhood has had a slow climb but definitely not up 30% in three years. And my neighborhood houses are just now hitting $1M in the past year.

[Anonymous]

Anonymous wrote:I bought my first place at 25. Cost $83k in 2005. I made $35k a year. You're in the wrong area and asking too much.

Yeah and my parents built my childhood home valued then at $190k in 2003

Guess what it’s valued at now? $150k

Cheap homes in crappy areas away from the city don’t appreciate

[Anonymous]

Anonymous wrote:

Anonymous wrote:Can you buy a house and get a roommate to defray the costs?

OP is a single mother of 2 kids.

Yes, I was a single mother of two kids and had a roommate for several years. Single professinal females. It was a pain but it defrayed my costs.