Who actually lives in the "newer" condos on the Ballston-Rosslyn Corridor? (Arlington: wood floors, for rent)

[Nemesis16]

A small 1 bedroom/1 bathroom on this strip costs $300k and up. This area is suppose to be a beacon for 20 somethings; I find it difficult to believe that individuals with $60k+ incomes could afford this premium.

What's your take?

[smithy77]

I know a couple of upper management types at work, empty nesters, who recently purchased condos in Ballston high-rises. Funny thing is, the streets are full of 20-something gen-y types on the weekends. Do these kids actually live in the neighborhood? I didn't have that kind of money at that age. Trust-fund babies maybe? Dunno. I've noticed something of a trend over the years with children of the well-to-do. Mom&Dad will sometimes pop for a condo for their recent grad-offspring as an investment property---junior has to pay the utilities and condo fee.

[Nemesis16]

^ I know of one individual who has the luxury of her parents paying for rent in this area.

[CaliTerp07]

My manager when I first started at work bought a new build condo in Clarendon. He was probably 27 or so, but I'd imagine he made $90k approximately. He wasn't married, had no kids, so he had saved like crazy for a few years to have a sizable down payment.

[Caladium]

Originally Posted by smithy77

Mom&Dad will sometimes pop for a condo for their recent grad-offspring as an investment property---junior has to pay the utilities and condo fee.

Bingo!

[jbakerman]

Originally Posted by CaliTerp07

My manager when I first started at work bought a new build condo in Clarendon. He was probably 27 or so, but I'd imagine he made $90k approximately. He wasn't married, had no kids, so he had saved like crazy for a few years to have a sizable down payment.

This. My late 20s brother lives in a 1BR/1BA condo in Ballston and paid mid 300s for it this summer. Makes a high five income and lives alone. Saved a ton in the first five years out from college and used some investment income for down payment. It can be done.

[Caladium]

I've often been curious what some of those places are like inside. Maybe one of these days I'll look for an open house just so I can check it out.

[Nemesis16]

I'd say most of the 2005+ condo developments are sterile; but nicely sterilized. You have such amenities like granite counters, wood floors, "modern" sinks and bathrooms, exercising room, etc.

Ballston- $335k 1 br, 1ba, 610 sq. ft.

1001 n Vermont St Apt 212, Arlington VA 22201 | Homes.com

[Nemesis16]

Ballston- 1 br, 1 ba- $325k

http://www.homes.com/listing/1272256...NGTON_VA_22203

[South Jersey Styx]

I had a friend of a friend who owned one of those. Don't know how she could afford it though; she was a 20-something working in retail (like Macy's or something). I think her parents bought it for her. The inside was quite small,very white -- white walls, white cabinets, white tile. Had granite tops though and she had a balcony. She didn't stay long and ended up moving to FL.