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Old 04-09-2015, 05:07 PM
 
Location: Winchester, Virginia
23 posts, read 25,098 times
Reputation: 16

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Hi everyone. I'm a single mom who currently lives in Leesburg. I'm tired of paying crazy rent prices for an apartment, when I can have a mortgage for much less elsewhere. I work in Leesburg. I've been preapproved for a 200K house. I was thinking about moving out to Winchester, and commuting into Leesburg. I have a 2 month old, so schools aren't too much of an issue now, but eventually will be. I'd like suggestions on what areas are ideal in Winchester, that would be a relatively easy commute to Leesburg on a daily basis, and a decent neighborhood.

Thanks!
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Old 04-09-2015, 05:28 PM
 
1,180 posts, read 1,811,607 times
Reputation: 979
Quote:
Originally Posted by Breezie68 View Post
Hi everyone. I'm a single mom who currently lives in Leesburg. I'm tired of paying crazy rent prices for an apartment, when I can have a mortgage for much less elsewhere.
Which also means you get a spend good bit of your life in a car. Let's just say living in Winchester means 60 extra miles of driving a day and at least an extra hour in your car. That's 300 miles a week, 1200 a month. $150 or more in gas a month vs. living in Leesburg.

Single mom...who watches your kid while you spend all your time commuting? Preapproval for a $200K house means you don't make much money. Who will pay for repairs to the home? Where will you find the time for maintenance of the home? Renting is not terrible and home ownership is just not a good fit for everyone.

I know I didn't answer your question, but I am just trying to offer some perspective here.
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Old 04-09-2015, 05:47 PM
 
Location: Winchester, Virginia
23 posts, read 25,098 times
Reputation: 16
I appreciate your concern.
If you want to narrow it down- I can gladly give you my budget, so you can go over that.

I make 60K a year. I bring home 3k per month.
1380- Rent- 800 sq ft apartment
880- daycare
410- health insurance for my child and me
137- basic cable & internet & house phone
100- renters & car insurance
93- Electricity
50- water/sewer/trash

If you subtract that, my budget is -50 per month. That doesn't even include gas, groceries, diapers, clothing, the occasional hair cut, let alone saving for retirement. Thankfully, I am debt free.

Per talking to my lender, if I want to have a mortgage around my price point, I should look to buy at about $175K- That will put me in the 900 per month range. If I live out there, it will put me closer to my parents, who will be able to watch my child for me on some days, which reduces my day care price. I also have some flexibility and might be able to work from home on some days, reducing transportation costs.
Also, once I move that way, I will be looking at a different job, that potentially would put me closer.

I've put plenty of thought into this, and this is the route I need to proceed, however I currently work in Leesburg. Jobs change. Living in a place with a low price point, that won't continuously change with rent prices going up (in other words, stability) is crucial.
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Old 04-09-2015, 06:12 PM
 
Location: Gainesville, VA
274 posts, read 259,623 times
Reputation: 107
Your commute will be long, but you do have much more home options the further out you go. Looking at options for homes for sale under 200k in Leesburg, there are only 15 and they are mostly condos. In Winchester there are 102 listings and most are single family homes. It is a tough decision, but I think you are making a smart decision to try to buy and build equity, instead of supporting someone else's investment. Good luck to you!
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Old 04-09-2015, 06:25 PM
 
Location: Alexandria, VA
11,340 posts, read 20,103,069 times
Reputation: 16308
Is your job something that you could do in a less expensive area, and is that doable or do you need to stay in NoVa?
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