Get the hell out of that condo. You don't need to sacrifice a house because you may need to pay for "travel soccer" at some point in the future.

I think you should stay where you are for now, or at least until the kids are school age and then start looking. I suggest this because you don't yet know how much before/after school care will be or summer camps or if you need to pay for a tutor or travel soccer, etc. Take kids to the park to play and run. Use the amenities at the condo. In the meantime, keep saving to build up an emergency fund or just in case fund. As a single parent, you are paying for it all. No need to rush into buying anything right now, IMHO.

Anonymous wrote:

Anonymous wrote:OP here: I currently live in a paid off condo that my parents own in Arlington. I pay $1100 condo fee/month. Should I just stay living here? Only issue is the space. It’s 2 bed but I would like a bigger home for the kids so we can all have our own room and a yard to play.

Stay where you are. You probably already know that kids are expensive. You’re going to end up having to pay for after school classes and teams and leagues, plus clothing gets very expensive. Plus, you’ve got to save for college. Plus, you never know what little things might come up. I would spend the money on nice vacations rather than a mortgage. I’m sure there are some local parks. You can go to instead of having to have a yard. Also, you have no idea if your children will need specialized private school or if you’re going to be able to keep them in public. There’s another huge expense if that happens.

I’m all about the what ifs. You need to make sure that you have money set aside for that.
Knowing how expensive this area is, I would not be banking on the possibility of using the rental income for anything other than 100% exclusively l your retirement.

This is such a bizarre screed...

"You’re going to end up having to pay for after school classes and teams and leagues, plus clothing gets very expensive. Plus, you’ve got to save for college. Plus, you never know what little things might come up. I would spend the money on nice vacations rather than a mortgage. I’m sure there are some local parks. You can go to instead of having to have a yard. Also, you have no idea if your children will need specialized private school or if you’re going to be able to keep them in public. There’s another huge expense if that happens."

After school classes? Teams? Leagues? Clothing? How much money are after school classes going to cost? And for what purpose? And where is all this stuff going to be placed in a two bedroom condo?

How many "nice vacations" can one family take in a year?

Why would their kids need "specialized private school?" I don't know a single person who ever needed "specialized" private school.

Anonymous wrote:

Anonymous wrote:OP here: I currently live in a paid off condo that my parents own in Arlington. I pay $1100 condo fee/month. Should I just stay living here? Only issue is the space. It’s 2 bed but I would like a bigger home for the kids so we can all have our own room and a yard to play.

Of course you should stay there! If you buy a place, maintenance will be huge.

Will it?

Basically free housing? Stay where you are! You should be socking away a ton of money in stocks and savings.

Anonymous wrote:OP here: I currently live in a paid off condo that my parents own in Arlington. I pay $1100 condo fee/month. Should I just stay living here? Only issue is the space. It’s 2 bed but I would like a bigger home for the kids so we can all have our own room and a yard to play.

Stay where you are. You probably already know that kids are expensive. You’re going to end up having to pay for after school classes and teams and leagues, plus clothing gets very expensive. Plus, you’ve got to save for college. Plus, you never know what little things might come up. I would spend the money on nice vacations rather than a mortgage. I’m sure there are some local parks. You can go to instead of having to have a yard. Also, you have no idea if your children will need specialized private school or if you’re going to be able to keep them in public. There’s another huge expense if that happens.

I’m all about the what ifs. You need to make sure that you have money set aside for that.
Knowing how expensive this area is, I would not be banking on the possibility of using the rental income for anything other than 100% exclusively l your retirement.

Anonymous wrote:Move. Single mom with 2 kids here. We moved out of our condo and into a SFH with highly rated schools a couple years ago. List was around $900k with 20% down, and I make $25k less than you do. DCUM tends to be conservative. I wish we'd moved years earlier (but the pandemic set that back).

What’s your monthly mortgage payment? What were you pre-approved for?

Anonymous wrote:$1,100 per month condo fee is INSANE. What is that paying for?

She hasn’t had to actually adult and she’s a bit idiotic. Must be nice to live in your parents’ house and blow money on a ridiculous condo fee. Let me guess—your parents also paid for your rental?

Why are you a single mom?

Anonymous wrote:Move. Single mom with 2 kids here. We moved out of our condo and into a SFH with highly rated schools a couple years ago. List was around $900k with 20% down, and I make $25k less than you do. DCUM tends to be conservative. I wish we'd moved years earlier (but the pandemic set that back).

Sorry but putting down $180K vs $500K is very different. I’d never lock up $500K in a house in today’s market w interest rates where they are. $180K is a different story.

If OP puts $500K in an index fund like VOO or another S&P500 aligned fund, that’ll double that every 7 years. Then double again in another 7. And so on. That’s $4M+ liquid when it’s time to retire in 21 years. Then they can buy a house for themselves AND give their kids sizable downpayment help, which they’ll appreciate way more than having a separate bedroom growing up. Delayed gratification builds generational wealth.

Move. Single mom with 2 kids here. We moved out of our condo and into a SFH with highly rated schools a couple years ago. List was around $900k with 20% down, and I make $25k less than you do. DCUM tends to be conservative. I wish we'd moved years earlier (but the pandemic set that back).

Anonymous wrote:OP here: I currently live in a paid off condo that my parents own in Arlington. I pay $1100 condo fee/month. Should I just stay living here? Only issue is the space. It’s 2 bed but I would like a bigger home for the kids so we can all have our own room and a yard to play.

+1. I think your quality of life would improve if you could have a larger place, especially with 3 people in the household.

Another vote for renting, especially at today’s interest rates. Also even if you’re not dating now, if you happen to meet someone in the future it would be easier if you had a rental.

Anonymous wrote:

Anonymous wrote:OP here: I currently live in a paid off condo that my parents own in Arlington. I pay $1100 condo fee/month. Should I just stay living here? Only issue is the space. It’s 2 bed but I would like a bigger home for the kids so we can all have our own room and a yard to play.

Of course you should stay there! If you buy a place, maintenance will be huge.

That’s a huge condo fee. I think OP can do better.

BTDT area single mom here.
Townhouse is your answer.