Buying in NoVa with a small budget

[tysonsengineer]

Carlton House is a nice condo in Reston you might be interested in. I looked there before I ultimately chose to buy in Tysons. I would say if you wait 18 months there are going to be all sorts of condos coming in Tysons like Park Crest Two and Spring Hill Station Building F1. If they are priced similarly to Park Crest One though, its not gonna be cheap. A two bedroom will likely be out of your range, but a 1br with a den could end up below 400k. It really depends on the finishes that Greystar puts for spring Hill station. If they are all granite/viking fridge/hardwood and stone tile then its gonna be priced as mentioned above. If they go easy on the finishes then from what I can tell the appropriate price in Tysons for a 1br w den would be close to 300k.

Good luck, I know this area is maddening for real estate searching. Pay less attention to exactly the price, and find the best fit that's not going to be more than 35% of your take home. If you pick a place that might be more expensive the truth is it is more likely to appreciate when the market conditions are better anyways as there is a reason that one is more expensive, where as the farther out you go the less of a market for condos there is (with the exception of Reston I would say).

[Hesky]

I think 300K is a good budget for NoVA. I bought a house recently, and by budget was only slightly higher. I saw many, many places for under $300K and not just ss or foreclosures. Of course a lot of them are a long way from DC (I was looking in Reston / Herndon / Sterling). But I'm sure you'll find something for that budget if you talk with a realtor.

[kellytop]

Yo can get a better condo ..in Oakton, Burke, Falls Church for 300k. Also 2500 mortgage is pretty high you cannot buy thinking " I will rent it and that will cover part of my rent" . You have to think you will pay all of it on your own. I live in Vienna now, my loan is pretty low compared to yours I have been looking for condos in this county and can't find any non ghetto affordable condos here... I also renting and looking to buy .. so sad to think I have to move from the vienna/tysons area.