Home Buying in 20171>Question Details

Neesha, Home Buyer in Herndon, VA

Need advice...on where to buy a home. Our total income is around $150k. 2 kids. We stay in Herndon, VA. Paying $1600 for the apartment.

Asked by Neesha, Herndon, VA Mon Mar 21, 2011

Want to buy a home in Ashburn, VA. Our preference to buy a newly constructed home with atleast 3 bed 2 and half bath. Sometimes, we think of moving to a different state which has low cost of living than here in VA and buying a home there as we get a lot bigger homes in other states like TX, NC, TN etc for the house price which we pay here in Northern Virginia. But sometimes we also think of the unemployment rate in other states. When compared to the unemployment, I think VA has less percent of unemployment rate that other states.So we are holding our thought of moving to other states.
1) With our income, should we go for a Town home or for a Single family home? Can we afford Single family home?
2) If I buy a home in Norther Virginia (say in Ashburn, VA) and put all my money on the house (for paying loans), will it ever appreciate? Is it wise to invest all my money on the house?
3)or Should we look for jobs in other states which has low cost of living and buy a house for less?

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Answers

4
Shannon Leydig’s answer
I would suggest speaking with a lender. I would be more then happy to speak with you and go over all of your options with you. Everything really depends on your total debt to income ratio (monthly debts verses your gross income) and your down payment ability. There is financing available with little to no money down and rates are still low so that will help keep your payments down.
0 votes Thank Flag Link Wed Apr 6, 2011
Hi Neesha

Have you talked to a lender? If not, I can recommend a few for you to talk to and get advise from and they will let you know how much you and your husband can afford. After talking to a lender and finding out how much you can afford, that will give you a better picture of what types of homes you will be able to purchase, be it TH or single family, new construction or not. I wish we had a crystal ball and could tell buyers that buying this home at this price its value will go up in 5 yrs, but we cannot. The DC region overall has been one of the least hit and held its value regions in the nation. Please let me know if you need more assistance.

Thanks

Melissa
0 votes Thank Flag Link Sun Mar 27, 2011
Neesha,
Give me a call and I will have one of several loan officers I work with get you qualified to purchase a home. Once qualified we can explore areas based on your affordability, schools, commute, etc...
You can also search available homes on my website below.
0 votes Thank Flag Link Sat Mar 26, 2011
Texas is great for families is a strong economy vs. other areas in USA. New starter homes within your budget

Contact me if you have continued interest in Dallas Fort Worth area. We are continually listed in national news for top areas to live

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Mon Mar 21, 2011
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