- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Winter Olympics
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Buying my first home
Posted on 1/28/18 at 10:12 am
Posted on 1/28/18 at 10:12 am
I live in the northern VA area. Looking to buy in a year or so, put 10% down, and rent out two of the bedrooms. Price point is 250k-375k. How much money after the down payment should I put aside for random maintenance or an “oh shite fund”?
Obligatory “Tree Fiddy”
Obligatory “Tree Fiddy”
15
Posted on 1/28/18 at 10:14 am to themasterpater
How old is the house?
Posted on 1/28/18 at 10:14 am to themasterpater
375 might get you a single wide up there.
Posted on 1/28/18 at 10:15 am to deeprig9
It is fairly rural outside of DC. Virgina is one of my most underrated states.
Posted on 1/28/18 at 10:15 am to themasterpater
No matter how much you set aside you’ll always need more for oh shits.
Posted on 1/28/18 at 10:16 am to themasterpater
I have an older house, and mandatory or emergency expenses have never gone over $2k in a year. That’s a 90+ year old raised house.
If you’re counting on the rental income, I’d set aside 2-3 months of rent value in case you have a vacancy.
Edit: Actually spent $3k one year.
If you’re counting on the rental income, I’d set aside 2-3 months of rent value in case you have a vacancy.
Edit: Actually spent $3k one year.
This post was edited on 1/28/18 at 10:21 am
Posted on 1/28/18 at 10:17 am to themasterpater
Money board will give you better advice
Posted on 1/28/18 at 10:17 am to deeprig9
quote:
375 might get you a single wide up there.
False. If you look 30-45 min outside of DC you can get into 3br 2ba townhomes
Posted on 1/28/18 at 10:17 am to themasterpater
Where are you looking in NOVA? I live western Fairfax County. At that price point I'd think you're looking at a townhouse or a SFD if you're willing to look outside the outer suburbs.
Posted on 1/28/18 at 10:18 am to Ingeniero
quote:
Money board will give you better advice
Posted there too, this board just sees more traffic
Posted on 1/28/18 at 10:18 am to themasterpater
What cities are you looking at? I may be up there before long and also looking to buy.
Posted on 1/28/18 at 10:19 am to themasterpater
The renting out of bedrooms is going to be trickier than you think - unless you already have tenants lined up. And you're not gonna get a whole lot of house for 375K. What areas are you leaning towards?
Posted on 1/28/18 at 10:19 am to themasterpater
quote:
Posted there too, this board just sees more traffic
Responses may not go as planned
Posted on 1/28/18 at 10:19 am to VABuckeye
I’m looking pretty much from Alexandria, down to Lorton and up to Manassas and Reston area. I’ll get way more space in Manassas and Reston. I suppose to clarify it will more than likely be an townhome and not an actual house.
Posted on 1/28/18 at 10:22 am to Catahoula Wine Mixer
Where are you moving from?
Real estate prices and rent prices are a bit of a shock at first.
Real estate prices and rent prices are a bit of a shock at first.
Posted on 1/28/18 at 10:24 am to TheHarahanian
quote:
That’s a 90+ year old raised house.
Psht. That ain't old.
Posted on 1/28/18 at 10:24 am to themasterpater
That's a tough price point for Reston. You have to be really careful of neighborhoods in that price range. Obviously Manassas and Lorton will provide the most value. What about Southbridge just north of Dumphries?
Here's an example at $299900. Townhome for Sale
Here's an example at $299900. Townhome for Sale
Posted on 1/28/18 at 10:26 am to themasterpater
quote:
and rent out two of the bedrooms
That sounds like a nightmare.
Posted on 1/28/18 at 10:28 am to OysterPoBoy
He’s convinced that it’s an astute prudent financial decision on paper, but will end up being among the worst decisions he’s ever made in life.
Posted on 1/28/18 at 10:30 am to themasterpater
10k
Page 1 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News