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[quote=Anonymous]Okay I want to make sure I'm thinking things through soundly.
 Young family buying in NoVA.
We have 2 choices:
1. Choice one is an "okay" 1980's house, a little farther out but still in same high school, nice neighborhood. But it checks all the boxes- 4 beds, finished basement, etc. The Plus is we potentially can assume their VA loan at a 2.5% interest rate and our mortgage payment will be 3500 month. (25 years left on loan). Commute 20-30min for both of us ( maybe a little more depending on traffic/easy pass use etc)
2. Option 2 is we have a lot that we've been trying to buy- then we'd build on it. We've been talking  to a builder and getting estimates and it seems like all together land, septic, well, house with upgrades will run us close to 900k and we'll have to wait 9ish months. The lot is in a super convenient location- commutes would be 10min and 25 min  and closer to stores and activities. But the neighborhood is less desirable - unpaved road, several nice new homes and other dilapidated houses ( 2 of 3 neighbors would be these older homes). But it's on a 2 acre lot so not super close.  I think the lot seller would like us to rent the dilapidated house he owns next door while the house is being built.  But it's really rough and I just don't think I can do that for even 1 year. 
Mortgage would be closer to $4500mo ( with substantial down payment for land).

Nice house with better location for more $
Better neighborhood, okay house,  for less $
Which would you choose? [/quote]

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