Yet Another NOVA vs MD Thread (Real Life Example) (Arlington: real estate, rent)

[BMWZ4RUlz]

Okay-folks, I would love insights from you'all I know the arguments for and against VA AND MD and I consider myself a super practical person....

I currently rent in NOVA and have been looking at homes. The prices are outrageous. Sure the property taxes are lower and sure the income tax rate is MUCH lower when compared to MD. Sure I work in NOVA and it makes no sense to add a long commute HOWEVER....

Real Estate in NOVA is just plan insane. Some of the places I see go in a day or two for 450K to 550K are nothing less than embarassing. At the end of the day, you are still spending 500K for something that really isn't very nice at all. My price point should be 350K to 450K but that is a joke.

So frustrated. thinking of putting in an offer on a place in Howard County despite MD's 100K tax (and nearly 4% higher income tax rate), long commute and higher property taxes. Why? Because I want to actually like my home.

Your thoughts?

Also-does anyone know how the new MD 100K tax works exactly. So you make $100K, say you make $120K, how does the tax above $100K work. Trying to understand the impact exactly.

Thanks for listening to my happy rant Happy New Year all!

[Flamingo13]

You probably should ask about MD taxes in a MD forum.

[justtitans]

Originally Posted by dshawg1

Okay-folks, I would love insights from you'all I know the arguments for and against VA AND MD and I consider myself a super practical person....

I currently rent in NOVA and have been looking at homes. The prices are outrageous. Sure the property taxes are lower and sure the income tax rate is MUCH lower when compared to MD. Sure I work in NOVA and it makes no sense to add a long commute HOWEVER....

Real Estate in NOVA is just plan insane. Some of the places I see go in a day or two for 450K to 550K are nothing less than embarassing. At the end of the day, you are still spending 500K for something that really isn't very nice at all. My price point should be 350K to 450K but that is a joke.

So frustrated. thinking of putting in an offer on a place in Howard County despite MD's 100K tax (and nearly 4% higher income tax rate), long commute and higher property taxes. Why? Because I want to actually like my home.

Your thoughts?

Also-does anyone know how the new MD 100K tax works exactly. So you make $100K, say you make $120K, how does the tax above $100K work. Trying to understand the impact exactly.

Thanks for listening to my happy rant Happy New Year all!

What part of Howard County are you talking about because Howard County has some expensive places too. I think people are looking at real estate in VA as though the value of the neighborhood is more important than having a nicer home. That seems to be what drives the prices. In general, the schools are better, the crime is lower, and there are more amenities around the area. Those are the things that you are paying for as opposed to a nice house.

[scottfs]

I own a house in NOVA that is worth between 450-550k. I'm sorry you find the type of property I'm able to afford "embarassing".

If you buy a house in Howard county you better really enjoy it on the weekends because with the commute you're going to give yourself, you won't get to enjoy it much during the week. All you'll be doing there is sleeping, which you could also do in my "embarassing" NOVA home.

[BMWZ4RUlz]

PGtvatitans: I do disagree strongly about amenities and crime. Columbia/Ellicott city has great schools, little crime and amenities are top-notch. The commute time, proximity to DC and taxes: not so attractive.

I think given the amenties, Howard County would win hands down.

I just cannot find anything. Falls Church is a nice area, great schools, but amenities aren't as nice and mostly everything is some small cape cod with no room in my price range.

Alexandria-you have the problem with schools ( I am not from the area, but keep hearing horrible stories).

Arlington-600-900K will get you a fixer upper

Anything else is so far out.....Fairfax is pricey still and far away. Is it cheaper, slightly but then you have deal with 66.

[BMWZ4RUlz]

Well-I didn't mean it like that. I simply meant for $500K in MD (yes taxes are higher) you get a really nice home. In fact, for 300 to 350k you get a really nice home.

I didn't meant to disrespect anyone. But stuff down in Alexandria by Eisenhower even goes for 450K to 550K and then you have school issue. It is just frustrating is all.

It seems like most people with nicer homes either 1) been here for a while and killed it from a previous property and used to upgrade or 2)bought long time ago

I just wish I could find something, anything in NOVA in my price range that was slightly better than a fixer upper.

[CaliTerp07]

Where is your job? I'm sure people could give you suggestions on areas to look in NoVA that would give you more bang for your buck and a better commute than from Columbia.

[FindingZen]

Originally Posted by dshawg1

PGtvatitans: I do disagree strongly about amenities and crime. Columbia/Ellicott city has great schools, little crime and amenities are top-notch. The commute time, proximity to DC and taxes: not so attractive.

I think given the amenties, Howard County would win hands down.

I just cannot find anything. Falls Church is a nice area, great schools, but amenities aren't as nice and mostly everything is some small cape cod with no room in my price range.

Alexandria-you have the problem with schools ( I am not from the area, but keep hearing horrible stories).

Arlington-600-900K will get you a fixer upper

Anything else is so far out.....Fairfax is pricey still and far away. Is it cheaper, slightly but then you have deal with 66.

RE: Alexandria schools, it depends to some degree on where you live. Some schools have a better reputation than other although eventually all students end up at TC Williams High School where the full socioeconomic experience of the city is available. There are TC Williams grads on this forum who will tell you that motivated students with involved parents will be successful there. Granted, at the $350-450K range you prefer, you may be looking at housing options similar to Arlington or Falls Church?

Have you considered the Lake Ridge area in Prince William County? Other PW members have praised its good housing values and solid schools compared to other parts of eastern PWC. Without knowing where in NOVA you're working, it could be a slog up I-95 but certainly no worse (and likely better) than commuting from Howard County.

[scottfs]

Originally Posted by dshawg1

Well-I didn't mean it like that. I simply meant for $500K in MD (yes taxes are higher) you get a really nice home. In fact, for 300 to 350k you get a really nice home.

I didn't meant to disrespect anyone. But stuff down in Alexandria by Eisenhower even goes for 450K to 550K and then you have school issue. It is just frustrating is all.

It seems like most people with nicer homes either 1) been here for a while and killed it from a previous property and used to upgrade or 2)bought long time ago

I just wish I could find something, anything in NOVA in my price range that was slightly better than a fixer upper.

Eh, that's ok since in retrospect it doesn't look elike you meant it as a dig. I get used to a lot of folks turning their noses up at something that is not brand new or the favorite term on house hunters, "move in ready", which usually means they don't like the lack of granite or something equally trivial.

It is of course understandable and we see a lot of folks on here frustrated at the pricing, but proximity to jobs is what drives it. You really have to decide what kind of commute you want to tolerate. Years ago, I worked in Rockville and lived in Elkridge (Howard County). This was before the ICC and it took me 1.25 hrs each way. It really took its toll before very long. I couldn't imagine trying to get from there all the way to somewhere in NOVA, I just don't see how it would work.

When I moved to Virginia I decided to live somewhere that works for multiple locations in case my job location changed, which it has 3 times since.

[stpickrell]

This is Northern Virginia, the safest large metro in the nation. Some of the best schools. Some of the greatest sets of job opportunities. $350k gets you a golf course house in many parts of the country, but consider what job opportunities are there.

Now if you're willing to move from say Oklahoma City to Boise to Little Rock over the course of a career, you can live in a set of really nice houses. But, if your job ends, or you get a jerk boss, or whatever, then what?

Where is your job, out of curiosity? If it's in say Arlington/Alexandria, I'd look into Stafford County.

If it's in Herndon/Reston, you might consider Leesburg, Purcellville, or Brunswick (MD).

If it's in Tysons, consider Leesburg or try to finagle a 6-3 shift.