Reply to How are you able to afford the DC area

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[quote=Anonymous][quote=Anonymous]I live in the Midwest.   $330,000, ten year old house with 2,600 square feet and a nice back yard.  The other day may spouse and I were looking at the DC area cost of living because a recruiter called me about a job opportunity.  So I went on realtor.com to look at houses.  OMG, in Maryland a house built in 1951 for over $700,000 that looks like it needs work!

Let's say I earn $125,000 and the DC area pays more so I will get $140,000 or slightly more.  After taxes, there is no way that increase makes up anywhere near the cost of living difference.  Are most of you lawyers, lobbyists, or ex-military that join defense contractors?  How can you afford that kind of housing unless you have a job like that or an inheritance?  We figured out that if we moved, there would be no money left to do anything for fun.  In fact, we figured out that it would cost less to stay in the Midwest and fly to DC 4 or 5 times a year to do things than move there. Culture is great, but if you can't afford to do anything, what good does it do to be near it?[/quote]

OP - Have not read the 5 pages of posts but there are a ton of people. many of whom hang out here, who make that kind of money or less and are able to afford living here.  Yes, housing is more $$ BUT when you sell you see it back in spades - usually. Housing in teh midwest is a lot less because people make less there and because you don't see the same kind of appreciation on homes.  I owned a home in the Denver area for 12 yrs, sold it for just about what I bought it for.  In DC, had you purchased a home 12 yrs ago and try to sell it today - you just about double your money - if not more!

What you need to do is focus on areas outside the beltway - like most people who live here.  If you are looking in MD, focus on areas like Rockville, Olney, Silver Spring.  This is a great area to live in, ignore the nasty people on this board as they don't represent the majority of people who live and work in the DC area. [/quote]

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