Reply to $330k income - house buying

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We are also two GS-15s with two kids and we spent $500k. I would be very uncomfortable spending $1.4m. [/quote]

Where the heck do you live? Manassas??[/quote]

Lorton. We bought almost 6 years ago and have done some updating since then.  I'll caveat, that if we were to sell today, our house would sell for in the mid $700s. [/quote]

Okay, listen if homes go for $700k in BFE Lorton (which is a lovely neighborhood but REALLY FAR AWAY), what options do dual-GS15 have with a closer commute and good schools?  I think they are spending st least a $1M, one way or the other (spend less close in but needs tons of work right away)[/quote]

Close in Silver Spring. Close in Tacoma Park.

For example,  https://www.realtor.com/realestateandhomes-detail/520-Ashford-Rd_Silver-Spring_MD_20910_M54127-61743?view=qv[/quote]

Again that is $800 entry price and all these old homes have $$$$ repairs and maintenance even when freshly painted.

Plus, GS 4 for Northwood would be good schools?? [/quote]

I don't know what you mean by "entry price" in looking at a house that has modern bathrooms, a very functional kitchen, a roomy foyer and living spaces, a nice yard, and is walkable to downtown Silver Spring and Metro.  I don't see any $$$ repairs based on the photos, either.  Can you clarify what you mean by that?

I don't use Great Schools as a proxy for school quality, so "GS 4" means nothing to me.  I do, however, know a lot of highly successful Northwood HS graduates and professional parents who are happy sending their kids there.[/quote]

:roll: Have you ever been on a home inspection? I have never seen a new hot water heater or a new HVAC system in a house this old, they change it when they move in and then limp along till selling it.  Then there are issues all over the place, like failing water shut off valves, ungrounded 3 prong outlets, not to mention lead paint and asbestos, and crummy attic insulation and leaky hvac ducts.

That's great that YOU don't care about GS scores, but most buyers do which impacts future appreciation, and yes as long as your kids stays in their narrow UMC lane at Northwood and avoids the general population they could be okay.  But most GS15 families are strivers coming from modest means who want to use education as a stepping stone for their kids, not something they have to overcome -- they've likely already did that and know the limitations of that approach.[/quote]

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