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Old 10-28-2010, 08:42 AM
 
2,879 posts, read 7,776,857 times
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A friend of mine lives off of Braddock Rd., near Guinea Rd. About 3 miles from GMU. I think yu could get in there for low 200s. Not that great, but a super location and an easy rental (whole or roomates).
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Old 10-28-2010, 08:16 PM
 
Location: Marshall-Shadeland, Pittsburgh, PA
32,616 posts, read 77,579,178 times
Reputation: 19101
I don't know if I'd truly advise buying in your early-20s. Out of my large group of extended (and somewhat distant) friends here there are two ex-friends who have bought condos. One bought in Seven Corners. One bought in Annandale. The problem? The one who bought in Annandale was coupled with the one in Seven Corners, and he just bought in Annandale as they split, necessitating his departure (and I think he chose to buy instead of rent to "keep up" with his ex). They tried "playing house" when they were only an item for months, and now that came crashing down all around them. I tend to think you're still FAR too impulsive, fickle, and potentially nomadic in your early-20s to buy.

I really would NOT recommend Reston Town Center for someone in their early-20s, contrary to Denton56's recommendation. I lived in a 1-BR apartment within walking distance to the town center, and I was the ONLY one in my early-20s I ever saw in my complex. Most were in their early-30s. There's a healthy concentration of people our age in both Arlington and Fairfax. Reston? Eh. Not so much. Those who I knew that were my age there all moved out, and I, too, will soon be moving out. I have also always personally thought Reston was overpriced for what you get in return if you're not "family-oriented." There's not even a single night club in Reston due to its inherently "reserved" nature, and it's DC's largest suburb outside the Beltway. That's pathetic. The traffic congestion here is also awful. I can't tell you how many times it's taken me an hour to get to or from Tysons Corner on my commutes. The Silver Line should have been completed years ago, but the NIMBYs got their way and ruined it.

If you MUST buy, then you may be able to find something affordable in the Columbia Pike Corridor of South Arlington. It's not "hip", but you're not far from the Orange Line Corridor (20-somethings) or Shirlington Village (30-somethings). This would give you a tolerable commute to either DC or the Dulles Tech Corridor.
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Old 10-28-2010, 08:26 PM
 
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A friend of mine bought a nice condo for 300 out in Reston. She loves it.
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Old 10-28-2010, 08:35 PM
 
Location: Marshall-Shadeland, Pittsburgh, PA
32,616 posts, read 77,579,178 times
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Quote:
Originally Posted by rvasonicbloom View Post
A friend of mine bought a nice condo for 300 out in Reston. She loves it.
Is she in her early-20s? If so, then how on Earth could she afford a condo in the $300k range? Am I seriously the only one here that earns peanuts?! LOL!
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Old 10-28-2010, 08:57 PM
 
170 posts, read 583,043 times
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Quote:
Originally Posted by RestonRunner86 View Post
Is she in her early-20s? If so, then how on Earth could she afford a condo in the $300k range? Am I seriously the only one here that earns peanuts?! LOL!
She's 25, Yeah, I guess, she's in IT. She works for Fannie too, so she got the $15,000 home cost reimbursement benefit and the Obama tax credit.
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Old 10-28-2010, 09:21 PM
 
Location: Washington, DC & New York
10,915 posts, read 31,385,275 times
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You have to be careful on Columbia Pike as some buildings/complexes that are in various stages of upgrade/repair/etc. Some also lack many features found in newer construction as they were not expensive when originally built. I knew someone who owned a 3BR on Columbia Pike a few years ago, bought while single, since the neighborhood was to "turn around." Long story short, she married, and lives out of state, but could not sell, save at a loss, which she is too stubborn to take, so it's rented. Closer to DC on Columbia Pike, the area has gentrified a bit, but the prices will be higher than the stretch from Glebe to Baileys Crossroads.

With any condo in this area, however, you are better off getting the best 2BR closest to transportation that you can because it will appeal to a higher pool of potential renters, should you need to keep it, but not live in it. 1BRs can be difficult to sell, save for the best of best markets, and their appeal diminishes the further from a Metro/town center/etc. and are really viable potential rentals for singles. If you were looking in Georgetown, you would get couples interested in a 1BR unit, but many couples want the flexibility of a 2BR, especially when crossing into a neighborhood in Arlington that is more sububan than Downtown.

You should also consider the City of Fairfax, since you could find a 2BR not far from the downtown area in your price range, though it will be in one of the older buildings, most likely. Another place where there would be a few condos in range is Oakton, off Blake Lane, which is both convenient for your office location, and not far from the Metro. Both of those are decent investments, since you could pretty easily rent a 2BR.

If you are considering South Arlington, you may be able to find one of the older rental conversions in the Shirlington area at that price point. The newer construction is about $100-$150k higher for a 2BR, but the conversions are buildings that had blight issues as rentals in recent years. They have been repaired, but since there is a newer supply of condos in the area, there has not been as large an uptick in prices. Again, I think it's an area that could easily be rented. Buildings closer to Pentagon City/Crystal City would be closer to $300k for a 2BR unit. I don't know how I would rate the conversions just yet, since units of that type are the last to rise/first to fall when the condo market has issues.

One area where I would recommend looking is in North Arlington, specifically the western sections of Lee Highway, 22207, close to the Lee & Glebe intersection. Your price point is not impossible for a 2BR in that market, though there will not be too many available at any given time, and you would be looking more to an older building. It's a stable neighborhood that is not too far from the Metro, yet far enough that you benefit from the price drop. You could easily bus/walk/bike/cab to areas along the Metro, and you would be closer to DC, too. It's also not far from I-66 so you could get to work fairly easily, too. And, if you were to go to NW DC, you would be much closer than if you were in Oakton or Fairfax. I would look for an experienced local agent in this area, especially if they are heavy listers, or work in the office with an agent/team that does a good amount of business in the area, as they may be able to let you know as something comes on the market.
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