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My husband and I currently live in a very cheap second tier city... We make 108K right now and live extremely well (we'll be able to buy a decent house, not be in huge debt, etc.). We both have prospective jobs lined up in DC... We'd make a little over 150K combined in DC. Would the increase in salary be enough to live well in DC? Is it even possible to get a house on that salary? What do people do when they start having kids in the area? Is private school the norm, or do most people send their kids to the suburban public schools?
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A lot of professional couples inside the city wait to have kids. The Surburban Public Schools on the VA side are better. Private School is super expensive. 150k is prob about normal for DC, so you can live decent but you won't be considered rich here by any means.
You can live well on 150k. In 2003 I lived in the DC area on 29k a year in a 1 br apt. in my first "real" job out of college. Adjusted for inflation that's about 34k now. But if I were to move back to the DC area I wouldn't live in the same apartment or town. I would live in Northern Va. but I would want a job that pays at least 90k a year. You'll be fine. Good luck.
You'll do well on 150K. Hopefully, your household income will edge upwards over time. This is probably a very good time to buy a house since prices have come down and interest rates are very low. Take care to manage your budget wisely.
Last edited by BigCityDreamer; 07-15-2010 at 08:44 AM..
150K is essentially 75K each. That's pretty decent for around here.
Most people who live in DC proper send their kids to private school if they can afford it. Everyone else just moves to the suburbs where the schools are good (especially in Northern Virginia).
Housing is somewhat cheaper in Virginia and Maryland than it is in DC, so you might wanna keep that in mind.
Thanks for all the responses! Would you guys recommend buying a house in the suburbs or a condo in the city? We definitely plan to have kids in the near future.
Thanks for all the responses! Would you guys recommend buying a house in the suburbs or a condo in the city? We definitely plan to have kids in the near future.
I recommend an sfh in the nearby suburbs. You get more house/space for your money, better public schools and other conveniences. The biggest advantages of living in DC are walkability and vibrancy. It's great for singles and couples. But it's less hassle for you to buy in the burbs now and not have to worry about moving again in a few years when your family is larger and your kids are older. IMO.
Last edited by BigCityDreamer; 07-15-2010 at 10:45 AM..
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