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Old 08-29-2016, 01:00 PM
 
945 posts, read 664,206 times
Reputation: 955

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It all depends on what you mean by liveable. I personally expect a functional kitchen and updates since 1980 in a house I buy for over $650k. We are looking and attempting to buy in this market, and I can't stomach spending well over half a million on a house with one bathroom. The joys of the NorthernVirginia housing market.
https://www.redfin.com/VA/Vienna/548...0/home/9450486
https://www.redfin.com/VA/Vienna/850...2/home/9457527
HTTPS://www.redfin.com/VA/Vienna/203...mris-FX9745872
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Old 08-29-2016, 01:26 PM
 
2,185 posts, read 2,645,690 times
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What's wrong with the 2nd one? Seems plenty livable to me. Over 3k square feet, big lot, newer roof and HVAC. Just needs lots of cosmetic updates. That actually reminds me a lot of the house we just bought for 672 although ours has a bigger lot. You are right if you're looking for a fully updated home on a big lot in Vienna for under 700k you won't find it. If you can't stomach that find more money or look elsewhere. It is the sad truth of Nova housing.
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Old 08-29-2016, 03:24 PM
 
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I must be way more conservative than most because based on what you said, I would not go over 500k. Everyone has different financial goals and you don't mention kids, but if you're conservative I would stick with that.
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Old 08-29-2016, 03:42 PM
 
1,189 posts, read 1,819,653 times
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Quote:
Originally Posted by Ffxdata View Post
We are looking and attempting to buy in this market, and I can't stomach spending well over half a million on a house with one bathroom. The joys of the NorthernVirginia housing market.
https://www.redfin.com/VA/Vienna/548...0/home/9450486
You're paying $650K for the 0.47 acres. The house is just in the way. A developer will buy that place and turn it into this 7000 sq ft, $1.9 million monster:

https://www.redfin.com/VA/Vienna/303...home/108589786

The big issue with Vienna, Arlington, etc is that with many large lots you are competing with builders that are going to tear it down and rebuild a house 3x the size. They don't care if they have to pay $20K more for it to outbid you because their margins are huge. You can't look at places and be like "wow I can't believe this tiny crapshack is $500K" as it's not about the house.
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Old 08-29-2016, 04:53 PM
 
945 posts, read 664,206 times
Reputation: 955
Quote:
Originally Posted by boyd888 View Post
You're paying $650K for the 0.47 acres. The house is just in the way. A developer will buy that place and turn it into this 7000 sq ft, $1.9 million monster:

https://www.redfin.com/VA/Vienna/303...home/108589786

The big issue with Vienna, Arlington, etc is that with many large lots you are competing with builders that are going to tear it down and rebuild a house 3x the size. They don't care if they have to pay $20K more for it to outbid you because their margins are huge. You can't look at places and be like "wow I can't believe this tiny crapshack is $500K" as it's not about the house.
I agree, and that is just what I said in my initial post above. I've seen houses good to crappy get torn down for their larger lots and replaced by huge craftsman-esque mentions. It's happening all over Vienna near Meadow Lane park just as your post indicates. We stopped looking in Vienna because I don't want to compete with contractors. Oakton isn't nearly as bad but that could change in 15 years.
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