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Old 11-18-2007, 01:00 AM
 
13 posts, read 33,361 times
Reputation: 11

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Hi, I've been poking around these forums a while and found lots of good advice. Now I would appreciate more specific advice so I figured I'd make a post. You all seem really helpful!

So a bit about me: I am a 21yr graduating in May and moving to NoVa. I will be taking a job in the Herdon or Reston area and need help about where to live. After browsing the forum I think I want to live in Reston near Town Center or in Ballston/Clarenton. I'm not a big partier (prefer laid back scene) but I do enjoy a vibrant nightlife around so I can enjoy if I want.

I was going to try to rent in Reston and go to Clarenton on weekends, but I am thinking about trying buy as soon as possible to get the benefits even if it is a one or two bedroom condo, although I am worried about the house market.. I will be making around $60,000. I know NoVa is expensive, but I know that it is best to buy something as soon as possible and hoped I could get advice.

Is it at all possible to buy anything in Reston area or should I just rent? If I rent should I live in Reston close to work or Ballston/Clarendon. Any other advice? Thanks a bunch in advance.

Last edited by ajbuchan; 11-18-2007 at 02:31 AM..
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Old 11-18-2007, 04:31 AM
 
1,727 posts, read 1,999,813 times
Reputation: 388
Hi,

I lived in Reston for a while when I was in my 20s. Some nice local places to hang out in the evenings are the Reston Town Center and the Worldgate in Herndon; if you venture a bit you have this new place in Fair Lakes that is a little bit like the Reston Town Center, or Tysons, etc. So I think it would perfectly nice to live around there. It would certainly be less $ than Arlington.

I was just browsing realtor.com and it looks like condos start just below 200K, become possibilities around 215K (a lot of 70s places that need to be vetted one by one; some getting a little bit newer); and then at 250K you are definitely in good territory. I'm not sure if that is good news? (It used to seem like so much money, now it seems like such a steal). You start to have a choice of either an older place with a little bit of space, or 700 square feet in a newer, trendier building.

You could also buy and rent out a second bedroom, or you could just rent (if you have a roommate, one way or another, you are definitely in a nicer place and nicer neighborhood).

All of these roads ... Wiehle, Soapstone, etc. ... I used to know these neighborhoods, but I can't make heads or tails of any of these locations. Others on this forum can tell you exactly where to look. [The Worldgate in Herndon also has condos and that is newer, if you like that].
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Old 11-19-2007, 10:43 AM
 
Location: Manassas, VA
352 posts, read 1,591,958 times
Reputation: 91
Quote:
Originally Posted by ajbuchan View Post
Hi, I've been poking around these forums a while and found lots of good advice. Now I would appreciate more specific advice so I figured I'd make a post. You all seem really helpful!

So a bit about me: I am a 21yr graduating in May and moving to NoVa. I will be taking a job in the Herdon or Reston area and need help about where to live. After browsing the forum I think I want to live in Reston near Town Center or in Ballston/Clarenton. I'm not a big partier (prefer laid back scene) but I do enjoy a vibrant nightlife around so I can enjoy if I want.

I was going to try to rent in Reston and go to Clarenton on weekends, but I am thinking about trying buy as soon as possible to get the benefits even if it is a one or two bedroom condo, although I am worried about the house market.. I will be making around $60,000. I know NoVa is expensive, but I know that it is best to buy something as soon as possible and hoped I could get advice.

Is it at all possible to buy anything in Reston area or should I just rent? If I rent should I live in Reston close to work or Ballston/Clarendon. Any other advice? Thanks a bunch in advance.
I normally would advise folks to buy, but...

You're 21, and this is a town you don't know very well yet. Rent for a year, poke around the area, see what you like, and then buy. You'll still only be 22-23, and you'll have a much better feel for what you want. Prices are unlikely to do much in either direction over the next year as the housing and mortgage market settles down from the turbulence we've had.

Welcome to Northern Virginia!
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Old 11-19-2007, 12:08 PM
 
Location: Home is where the heart is
15,402 posts, read 28,944,197 times
Reputation: 19090
If you want to know about specific neighborhoods in reston, there is a community newsgroup that was very helpful to me when I moved here. Google "Reston Web" and you should be able to find it.
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Old 11-19-2007, 12:53 PM
 
1,261 posts, read 6,104,940 times
Reputation: 565
I agree with Knopfler that you should probably rent the first year, get a really good agent, and take your time getting to know the area and locating a place you might want to buy. I rented the condo unit I bought when I was single for one year before buying it. Best wishes with your move.
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Old 11-19-2007, 01:59 PM
 
Location: McLean, VA
4 posts, read 15,396 times
Reputation: 13
Another thing to consider if you're set on buying is that the condo industry is also being affected by the declining housing market, and some builders have been switching back to constructing rentals and messing up people's plans. I'd suggest doing some research on builders before buying in, or going for a resale versus a new construction. I know someone who became a rental client after he was called up unexpectedly one day and told that not only would his condo not be constructed, but it would take "some time" for his deposit to be returned.
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Old 11-22-2007, 12:42 AM
 
13 posts, read 33,361 times
Reputation: 11
Thanks for the info. Really helpful.
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