Reply to Disgusted/Deflated. We make combines $350 & can't afford jack

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[quote=Anonymous]Well, this thread has been about as constructive as one would expect from DCUM.

OP (if you're still reading this—and why would you be?), you're not wrong.  House hunting in DC is demoralizing.  We have a similar HHI to yours, although our price limit is a bit higher, and it's depressing how little we've seen in the past two years that we actually like—much less that we like and can overbid enough to actually get.  And having come to DC from lower cost-of-living areas, it's still hard to get our heads around the idea that we'd need to pay 2-3 times more and still get a much worse house than we'd have been able to get anywhere else we've lived.  If I didn't have to live here for work, I probably wouldn't.  Maybe that's the answer for you, too.

But I would suggest that if you do choose to remain in DC, you need to adjust your expectations.  Half an acre close-in for $720k just isn't something you're going to find here in 2022.  Unless you're rich (in DC terms, not in most-of-the-country terms), house-hunting in DC means prioritizing and compromising.  Which is more important—the half acre, or being close in?  You probably aren't going to get both.  Is that $720k a hard limit due to your finances, or is it just what you're comfortable paying?  If the latter, you might want to think about whether spending what you can afford is likely to get you a house you're happier with (and which would probably appreciate more), even if you're paying more than you've ever imagined spending on a house.

I know that can be tough—for us, it's hard for us to fathom spending as much on a house as we can technically afford.  But overspending (from the perspective of someone with Midwestern sensibilities) is just about the only way to get a halfway decent house in this town.  Whether that's worth it to you—or whether to say  "screw it" and move somewhere with lower COL—is up to you.

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