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re: Buying my first home

Posted on 1/28/18 at 10:31 am to
Posted by jdeval1
Member since Dec 2009
7525 posts
Posted on 1/28/18 at 10:31 am to
I'd keep at least a few K. Most major expenses like a roof or driveway replacement you can plan for a bit. The one thing that can bite you that'll be more than that is a new AC.
Posted by shotcaller1
Member since Oct 2014
7501 posts
Posted on 1/28/18 at 10:31 am to
Is living in a townhome really living? I don't think I could purchase my first home with the intent of living in if it didn't have a yard
Posted by themasterpater
I travel
Member since Sep 2014
1350 posts
Posted on 1/28/18 at 10:31 am to
I guess coming from New Orleans nothing in Reston strikes me as shady. But that’s the first I’ve heard from anyone to be careful
Posted by TheHarahanian
Actually not Harahan as of 6/2023
Member since May 2017
23580 posts
Posted on 1/28/18 at 10:33 am to
I’d look at less expensive property before I’d consider renting BRs.

Maybe get a fixer upper to save on the purchase price.
This post was edited on 1/28/18 at 10:34 am
Posted by themasterpater
I travel
Member since Sep 2014
1350 posts
Posted on 1/28/18 at 10:35 am to
That does look very nice. Haven’t considered Southbridge. Mainly for commuting reasons.
Posted by themasterpater
I travel
Member since Sep 2014
1350 posts
Posted on 1/28/18 at 10:41 am to
Fixer uppers are definitely considered. I’m in construction project management, so I could manage.
Posted by Pilot Tiger
North Carolina
Member since Nov 2005
73917 posts
Posted on 1/28/18 at 10:41 am to
quote:

30-45 min outside of DC
30-45 miles yea

30-45 minutes is basically 15 miles away

source: I bought a house 10 miles from DC 6 years ago
This post was edited on 1/28/18 at 10:42 am
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
37536 posts
Posted on 1/28/18 at 10:43 am to
quote:

Is living in a townhome really living? I don't think I could purchase my first home with the intent of living in if it didn't have a yard



Well the OP didn't ask you for any money or to live there so I think you're free and clear. Outside of Louisiana in large Metros townhomes or very little yard is common. Good thing you get to choose where you live.
Posted by themasterpater
I travel
Member since Sep 2014
1350 posts
Posted on 1/28/18 at 10:43 am to
That depends on if you reverse commute or not. I reverse commute and work in Lorton
Posted by Pilot Tiger
North Carolina
Member since Nov 2005
73917 posts
Posted on 1/28/18 at 10:46 am to
quote:

I reverse commute and work in Lorton
Fair Winds brewery
Posted by themasterpater
I travel
Member since Sep 2014
1350 posts
Posted on 1/28/18 at 10:48 am to
Yes, big yards are hard to come by for less than 750k here. You can get a townhome with a little yard for around 350k if you look in the suburbs
Posted by Pilot Tiger
North Carolina
Member since Nov 2005
73917 posts
Posted on 1/28/18 at 10:50 am to
quote:

Yes, big yards are hard to come by for less than 750k here.
in West Springfield/Burke you can get a decent 1970s/1980s home with a big yard for like 550k

But yea to get a new build with a big yard, aint happening under 800k or so
Posted by themasterpater
I travel
Member since Sep 2014
1350 posts
Posted on 1/28/18 at 10:55 am to
Yeah and I’m single no kids. Aside from not being able to afford it, anything over 375k is just too much house. I have no need or desire to live close to DC since I work in Lorton, and most of my projects are out in Manassas area
Posted by Pilot Tiger
North Carolina
Member since Nov 2005
73917 posts
Posted on 1/28/18 at 10:56 am to
yea we're not going for the big house until kids

our Alexandria townhouse is plenty for right now
Posted by themasterpater
I travel
Member since Sep 2014
1350 posts
Posted on 1/28/18 at 10:58 am to
I’m thinking of the Kingstown area as well as along Eisenhower where I currently live. Inside old town is expensive.
Posted by Pilot Tiger
North Carolina
Member since Nov 2005
73917 posts
Posted on 1/28/18 at 11:01 am to
Kingstowne is great, I have several friends who live there

Posted by redbaron
Member since Aug 2011
759 posts
Posted on 1/28/18 at 11:03 am to
Put down 20% if possible to avoid mortgage insurance.

Also gives you flexibility to avoid escrow. For some people it's advantageous to pay prior year/current year property taxes in same tax year, then just take standard deduction in the between tax years.
Posted by themasterpater
I travel
Member since Sep 2014
1350 posts
Posted on 1/28/18 at 11:05 am to
Yeahh it’ll probably be between Kingstown and Manassas area.
Posted by blueridgeTiger
Granbury, TX
Member since Jun 2004
22126 posts
Posted on 1/28/18 at 11:16 am to
My son lives in northern Va, and spent about twice that much to get just a moderately sized home in a S/D that will be a slum in 25 years.
Posted by themasterpater
I travel
Member since Sep 2014
1350 posts
Posted on 1/28/18 at 11:21 am to
Real estate is ridiculous here, rent even more so. If I moved back home to Lafayette I’d be able to buy a nice place with a yard and parking etc.
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