Family of 4 home buying- NoVA, MoCo, Richmond, any other ideas? (Arlington: real estate, lease)
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My wife and I are 34 and 35 respectively and have been living in Arlington County for the past 6 years. We are currently renting in a townhouse/condo and are determined that we will own our next home when our lease ends in March. We have 2 children, our oldest is 5 years old and will be starting kindergarten this coming school year.
As first time homebuyers, and having lived in an expensive area, we don't have much capital and are looking to lean on first time homebuyer incentives, programs, etc. Our income and credit are good, though, and, playing with numbers and estimates I have an idea of what houses would cost us on a monthly basis and what we are comfortable with.
With that, we are starting to narrow down some areas- however with some caveats. If it turns out that I am able to rely on liberal telework even after the pandemic subsides, we may look at areas such as the northern Richmond suburbs (Glen Allen, for example), due to being able to get more house for less than Northern Va, and also a good school system in Henrico County. If, going forward, I have to report to the office too frequently to make living as far as Richmond worth it, we are considering some areas closer to work (I work in DC- off Union Station), and was curious to know others' opinions about these areas. I fully acknowledge that, when you are looking for houses in the price range we are looking for, you have to give and take in some areas (you can't get everything without paying for it), but I wanted to know how people would rank these areas given our priorities are the following: safety, schools, general quality of life (recreation, entertainment,not living in a 24/7 traffic jam, etc), financial security (chances of house value holding firm or appreciating/ risk of being underwater if selling 5 years later).
- Woodbridge
- Manassas
- The Gaithersburg/Germantown/Rockville/Wheaton-Glenmont swath in MoCo
- Charles County
- Calvert County
Additionally, I'd be interested to know if anyone recommends any other areas along these lines that I haven't mentioned.
In general, we are looking for a place no more than $425k and no less than 3 bedrooms. We could do a townhouse provided it is larger (definitely more than 1500 sq ft) and has backyard/patio space.
Any information anyone can provide is greatly appreciated- though guidance such as make more/get more money to live in X, Y, or Z is not particularly useful, we're doing well in work and progressing nicely, we're just looking for a place to start real estate wise.
Glen Allen is very nice. Location, amenities, proximity to Richmond. Lived there for 2+years before spouse changed jobs and before we moved to NoVa, had to commute to D.C. (Foggy Bottom) from Glen Allen.
Amtrak via Staple Mills Rd. was convenient, but it's a LONG day. If you don't have to go into D.C. often, it's worth it.
I strongly recommend that you visit/spend time in some of the neighborhoods with real estate that falls within your price range. Woodbridge, Manassas, Gaithersburg, Germantown, and Wheaton all have some desirable and less than desirable areas relative to your priorities. As you know, the current housing market is ridiculous and your money may not stretch nearly as far as it could a year or two ago.
I'd personally cross off Charles and Calvert County. Neither location offers the same level of transportation options into downtown D.C. as the areas mentioned above.
I'd also look at Stafford and Spotsylvania Counties as potential options. Your money will stretch a bit further and you're still within reasonable commuting distance to Union Station via VRE.
Henrico County is a possibility as well, but you imply correctly that living there and commuting regularly to D.C. -- even by train -- is not very practical. With that said, Virginia is heavily investing in its rail infrastructure so I expect we'll see more frequent and quicker service between Richmond and D.C. in the coming years.
My suggestion would be to really really think about sitting it out if possible.... or getting a realtor... because you will need. check out the reddit real estate slug and witness the frustration of this market.. which is absolutely bonkers.
1) My wife and I are 34 and 35 respectively and have been living in Arlington County for the past 6 years.
** Been in your shoes..... you set the bar really really high starting at Arlington.
2) We have 2 children, our oldest is 5 years old and will be starting kindergarten this coming school year.
** important milestone for Kindergarden... I would suggest starting with searching for the best KD schools and then looking for housing around it.
3) First time homebuyers - we don't have much capital and are looking to lean on first time homebuyer incentives, programs, etc.
** You will need cash in this market.... hence why i say you may wanna sit this one out.
4) If it turns out that I am able to rely on liberal telework even after the pandemic subsides, we may look at areas such as the northern Richmond suburbs (Glen Allen, for example), due to being able to get more house for less than Northern Va, and also a good school system in Henrico County.
** Need to confirm your telework policy before making this decision and get it in writing. Not a small decision but if you can find something closer to nova you will have more job security. That commute on the amtrack is doable.. but it is the tail end of a pandemic and that is a lot of hours.... l
6) People would rank these areas given our priorities are the following: safety, schools, general quality of life (recreation, entertainment,not living in a 24/7 traffic jam, etc), financial security (chances of house value holding firm or appreciating/ risk of being underwater if selling 5 years later).
**If that is in order... that is a smart order... Timing is everything however. We bought our house in woodbridge during a busted housing bubble market... and sold at the beginning of another bubble.
5) In general, we are looking for a place no more than $425k and no less than 3 bedrooms. We could do a townhouse provided it is larger (definitely more than 1500 sq ft) and has backyard/patio space.
**That is some reasonable but high aspirations in this market that is unreasonable.... hence why i say wait it out.. my first house was 425k..... its not damn near 600k in zillow. ( i wouldn't have bought it for the high 500s)..
- Woodbridge -- Schools are iffy.... look at lakeridge, montclair and anywhere in the colgan HS zone..
If you are tactical you could plug in in teh area new potomac towncenter... and put your kids in private school (creme, etc) and sell and move when its time for 1st/2nd grade.
The area has assessed higher but not as high as the other areas.... in nova.
- Manassas -- EHHHHhhhhhhhh. Look at haymarket first Carter's Mill, Haymarket, VA 20169 Better schools... a bit higher than your budget but 100k with these intrests rates won't feel much different from 400k.
- The Gaithersburg/Germantown/Rockville/Wheaton-Glenmont swath in MoCo
- Henrico County** Great area to live in...
If going the henrico route.. short pump or bust... and be quick s they are raising the price on new builds by 10k every two weeks... still nice TH's in the mid/high fours in Greengate neighborhood Henrico, VA 23233
- Chesterfield County (Midlothian)** -- Similarly Great area to live in if you can't get into Henrico
Schools in the area of Dunton Rd, Chesterfield, VA 23832 (new TH/SFH) builds and decent schools around here)
Also in teh area of swift creek.../brandermill
NewMarket by LGI Homes Midlothian, VA 23112
- Stafford** Va (just south of woodbridge) Had tons of neighbors move from port potomac to stafford.. schoolsa or better.. simliar commute. Check Winding Creek by Ryan Homes
Stafford, VA 22554
**Doable with Amtrak... knew people that do this commute at every work site ive been at... lot of life lost on that train however so if you can't get to work and leave work early... might be something to discuss with the Mrs. as she will be shuffling the kids around solo.
Some TH communities in woodbridge in teh 400s... but the schools are ... sketchy.
Seriosly check the reddit forums.... its a bloodbath out there this year.... and cash is king. Its a different kind of buble market (maybe not even a bubble) where people are bringing tons of cash from raided retirements plans of parents etc to the table. New builds seem to be the easiest way to go imo.
My suggestion would be to really really think about sitting it out if possible.... or getting a realtor... because you will need. check out the reddit real estate slug and witness the frustration of this market.. which is absolutely bonkers.
1) My wife and I are 34 and 35 respectively and have been living in Arlington County for the past 6 years.
** Been in your shoes..... you set the bar really really high starting at Arlington.
2) We have 2 children, our oldest is 5 years old and will be starting kindergarten this coming school year.
** important milestone for Kindergarden... I would suggest starting with searching for the best KD schools and then looking for housing around it.
3) First time homebuyers - we don't have much capital and are looking to lean on first time homebuyer incentives, programs, etc.
** You will need cash in this market.... hence why i say you may wanna sit this one out.
4) If it turns out that I am able to rely on liberal telework even after the pandemic subsides, we may look at areas such as the northern Richmond suburbs (Glen Allen, for example), due to being able to get more house for less than Northern Va, and also a good school system in Henrico County.
** Need to confirm your telework policy before making this decision and get it in writing. Not a small decision but if you can find something closer to nova you will have more job security. That commute on the amtrack is doable.. but it is the tail end of a pandemic and that is a lot of hours.... l
6) People would rank these areas given our priorities are the following: safety, schools, general quality of life (recreation, entertainment,not living in a 24/7 traffic jam, etc), financial security (chances of house value holding firm or appreciating/ risk of being underwater if selling 5 years later).
**If that is in order... that is a smart order... Timing is everything however. We bought our house in woodbridge during a busted housing bubble market... and sold at the beginning of another bubble.
5) In general, we are looking for a place no more than $425k and no less than 3 bedrooms. We could do a townhouse provided it is larger (definitely more than 1500 sq ft) and has backyard/patio space.
**That is some reasonable but high aspirations in this market that is unreasonable.... hence why i say wait it out.. my first house was 425k..... its not damn near 600k in zillow. ( i wouldn't have bought it for the high 500s)..
- Woodbridge -- Schools are iffy.... look at lakeridge, montclair and anywhere in the colgan HS zone..
If you are tactical you could plug in in teh area new potomac towncenter... and put your kids in private school (creme, etc) and sell and move when its time for 1st/2nd grade.
The area has assessed higher but not as high as the other areas.... in nova.
- Manassas -- EHHHHhhhhhhhh. Look at haymarket first Carter's Mill, Haymarket, VA 20169 Better schools... a bit higher than your budget but 100k with these intrests rates won't feel much different from 400k.
- The Gaithersburg/Germantown/Rockville/Wheaton-Glenmont swath in MoCo
- Henrico County** Great area to live in...
If going the henrico route.. short pump or bust... and be quick s they are raising the price on new builds by 10k every two weeks... still nice TH's in the mid/high fours in Greengate neighborhood Henrico, VA 23233
- Chesterfield County (Midlothian)** -- Similarly Great area to live in if you can't get into Henrico
Schools in the area of Dunton Rd, Chesterfield, VA 23832 (new TH/SFH) builds and decent schools around here)
Also in teh area of swift creek.../brandermill
NewMarket by LGI Homes Midlothian, VA 23112
- Stafford** Va (just south of woodbridge) Had tons of neighbors move from port potomac to stafford.. schoolsa or better.. simliar commute. Check Winding Creek by Ryan Homes
Stafford, VA 22554
**Doable with Amtrak... knew people that do this commute at every work site ive been at... lot of life lost on that train however so if you can't get to work and leave work early... might be something to discuss with the Mrs. as she will be shuffling the kids around solo.
Some TH communities in woodbridge in teh 400s... but the schools are ... sketchy.
Seriosly check the reddit forums.... its a bloodbath out there this year.... and cash is king. Its a different kind of buble market (maybe not even a bubble) where people are bringing tons of cash from raided retirements plans of parents etc to the table. New builds seem to be the easiest way to go imo.
it is.. to my knowledge there are some new communities nearby however... new builds.. reasonably priced but come with a commute... (trains exist out there as well however)
I live in Woodbridge. For $425,000, you won't be happy with what you get. I'm in a 27 y/o neighborhood, older house, smallest one in the neighborhood, and mine model is selling for $570,000. As Finallystoppedlurking says, I think it's wise to sit this market out a bit. While interest rates are historically at their lowest, the homes, IMO, are outrageously price right now and I think there will be a correction there.
Having said that, I would again not coming to Woodbridge unless you can afford to be in the neighborhoods where the houses are closer to $600K. I don't believe the lower price areas are going to take in your priorities for schools and safety. Ditto Manassas.
I would 100% skip Charles County. If you want to go the Southern Maryland route, go further down. Plenty of people commute to DC from La Plata, MD and south. It's not great, but if the more "land, water, tree" lifestyle is what you're after, you may be happy there. Plenty of people really love Calvert County also. I have a few coworkers who, pre-pandemic, commuted daily from there and it wasn't the worst commute either and they really liked the lifestyle there (lots of land, outdoor type activities like fishing, boating, etc). You may get more for your money down there.
Since you are considering Woodbridge you should take a look at the western end of PW County. Haymarket, Gainesville and Bristow. At 425k, you are looking at a TH. Schools are good, but the easiest way to get to the Union Station area is VRE. The hot lane construction on 66 should be complete at the end of 2022 and park and ride lots are already built which will open more options for bus and slugging. I would do that commute 5 days a week though.
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