Any advice for first time home buyer in DC area (real estate market, renting)

[sushi]

Hello all -
I'm looking for any advice for a first time home buyer in the DC area. I realize how expensive it is and am looking to make the jump from renting to buying and would like to pick something up in the $200k range--which means living a ways out.

Any one out there recently picked up a condo in this range? Any Do's and Don'ts? Any good referrals for a real estate agent? Any one out there live in SE, NOVA, or MD? any suggestions?

Thanks a million!

[J-Man]

Originally Posted by sushi

Hello all -
I'm looking for any advice for a first time home buyer in the DC area. I realize how expensive it is and am looking to make the jump from renting to buying and would like to pick something up in the $200k range--which means living a ways out.

Any one out there recently picked up a condo in this range? Any Do's and Don'ts? Any good referrals for a real estate agent? Any one out there live in SE, NOVA, or MD? any suggestions?

Thanks a million!

The $200K range?? Good luck! I'd suggest maybe looking in West Virginia but you'll have one helluva long commute.

Are you sure you want to buy a home in the DC area? The homes there are ridiculously overpriced. Here in Pennsylvania you can get a very nice home for that amount of money. But not around DC.

[emsgoof]

Add a $1,000,000 figure to the front of it, and you can get a townhouse on Wisconsin Ave right by NIH / NNMC Bethesda!
$200,000 isn't going to get you anything in the DC area, even in the slums.

[Zippy7fo]

Originally Posted by sushi

Hello all -
I'm looking for any advice for a first time home buyer in the DC area. I realize how expensive it is and am looking to make the jump from renting to buying and would like to pick something up in the $200k range--which means living a ways out.

Any one out there recently picked up a condo in this range? Any Do's and Don'ts? Any good referrals for a real estate agent? Any one out there live in SE, NOVA, or MD? any suggestions?

Thanks a million!

Check out Baltimore...The trend is that young people are buying homes in Baltimore because they can't afford halfmillion dollar studio in DC....You won't get much with that price range unless Blacksburg or Charlottesville are options...

[lscalder]

You can purchase a Condo either in SE or NE. Brand new condos too. I have clients who have purchase new condos in the $200 range. They ar emore then likely gated communities.

[seldomseen]

There are places available for $200k, but they won't be remotely close to being nice unfortunately! The real estate market in the DC Metro area has been extremely inflated for several years now. You may seriously want to consider Maryland, because you will get more for you money within this price range. A person/family really needs to spend at least $300k if they want to buy a place that is half-decent. A purchasing budget between $400k-$600k will open many nice options in this area.

[Moth]

You can purchase a Condo either in SE or NE. Brand new condos too. I have clients who have purchase new condos in the $200 range. They ar emore then likely gated communities.

Live like Charlton Heston in The Omega Man.

[kowalski344]

Actually, if you look on washington fine properties, you can get a studio in NW DC for $200,000, or a one bedroom in silver spring for the same price. Don't give up.

[KodakMoment]

I had a friend live in W.V and commute to rockville MD. She bought a home for 200k or so. (Townhome)

[DavidS827]

NOVA has quite a few properties listed around $200k, so you have plenty of options. Make sure that you take the condo fee into account when you're searching. Some of the condo fees in this area are astronomical.