Economics of working and traveling to Arlington, consider moving from Raleigh NC? (McLean: real estate, rental)

[taxidriverx]

I thought I would get the opinions of you guys here since you know the area the best. In this economy, I guess I should consider all new job options. I live in the Raleigh-Durham area and currently have a job offer to make $150k in Arlington, VA, compared to my current $100k. That is 50k more in income per year.

BUT, I am used to a very nice standard of living on 100k household income in Raleigh. Rental and housing is very affordable here, even in rich areas in Cary, NC. What do you guys think of moving to that area for the increase in income I am getting? Obviously, I would not be able to afford a good size house for my family of 4 near Arlington, McLean, or nearby areas.

There are very nice housing areas in Haymarket which many people in this area talk about, but is traveling from there to Arlington (off N. Glebe Rd) out of the question? I heard living in Woodbridge and traveling on I-95 is better for commuting to Arlington than I-66. Is that true and how are the housing areas in Woodbridge? Lots of new housing developments like the Haymarket area?

I am just trying to get all the opinions I can regarding this income increase and move. I have heard people say the NOVA area includes it's share of hassles, and most of that is centered on traffic, driving and road rage. I would place housing size above many things, so I would be one of those people that would look for housing further out. Thanks guys!

[kevbros]

We need some more details. What is your housing budget? How many bedrooms/square footage are you looking for? How important are schools? Where in general in Arlington is the job? What is your commuting tolerance?

[taxidriverx]

Would probably be looking at a 3 or 4 bedroom house, around 3000 sq ft or higher. That's what I'm used to in Raleigh. My budget for a house would be around 450-500k, don't know how much I would be able to afford later on. I have no current college/student debt or loans. Looking for single family detached house, not a condo/townhome. Kids are 3 and 5.

My commute in this RTP area is around 30 min. I would probably tolerate up to an hour commute each way. Any more than that I would probably go crazy and would feel like doing nothing after I get back from a day of work. My job would be of N. Glebe Rd in the Old Dominion area.

[CAVA1990]

If you're living happily in Raleigh on $100K you should stay there. You're going to quickly tire of the commutes you're considering.

[kevbros]

I agree with CAVA here. To get a house comparable to what you have now you would have to live far, far away. For example, out 66 you'd be past Dulles Airport. Down 95, you'd be past Woodbridge. Both of those commutes are probably going to be beyond what you're willing to do. Unless you are 1) willing to make some serious sacrifices in house size/style and 2) you have a good reason to come here e.g. promotion potential, you are probably better off where you are. The pay increase is probably just not worth the big hassles you are looking at.

[CaliTerp07]

Those commutes are going to drive you crazy if you're used to 30 minutes. I'd stay where you are unless there is a compelling reason to move up here (besides the money--you're already seeing that a lot of it will be eaten up by housing and commute expenses).

[NC211]

I'm from Apex. Trust me, the extra $50k isn't nearly enough to leave RDU for DC. When you make the adjustments for the cost of living, you won't be lining your pockets like you are in RDU. What you would consider as a $275,000 house in Cary, would translate to about $600,000 here in Ashburn. Ashburn is as close to what you're wanting to replace with Cary, and given the location of this job, you'd be in the thick of it pretty badly. Haymarket is even worse on the commute.

[ACWhite]

Your commute to that part of Arlington from Ashburn (for example) would probably be 40-60 minutes by car during rush hours, fewer minutes at other times.

I think the main "shock" you would encounter is the size and condition of the house you are accustomed to, versus what is available here, even for 2-3X the price. Even if you negotiated a bigger salary package and could substantially raise the housing budget, big suburban style houses within a reasonable distance to Arlington are rare. If you can be more flexible with the size of house (e.g., 2000 square feet above grade rather than 3000) and age/condition (e.g., if you are willing to take on a fixer/upper, you will have more options in the $450-500K range, but it will be hard to find something 30 minutes from your work location that also is in a desirable neighborhood.

You may get a poster or two who will tell you I'm too pessimistic, but I would encourage you to use the real estate search sites and just take a peek. I keep an eye on them and think I am pretty realistic.

[e30is]

Stay where you are.

As mentioned, housing in general will be much higher for what you want in NoVA compared to the Triangle. And the commute will not be pleasant unless you can find something within reasonable commuting distance to your job in Arlington.

[mdcrim]

To piggyback on the Ashburn comparison, I believe there are only a few SFH's in Ashburn under $500k and they are the older (late 80's, early 90's), smaller homes, some without basements. I'd stay put.