PCSing to DC and looking to live in Alexandria, but here’s the catch, I could be stationed there for 18 months or 4 1/2 years. I’m planning for worst case scenario (18 months), but I really want to buy since I haven’t been able to buy a home at my last two sure locations (stationed at each for less than a year). I own a home in Washington that is rented out and cash flows.
Most properties I’ve looked at, I will more than likely take a hit every month if I were to rent it out after 18 months. I’m comfortable with a small loss every month, as I would most likely come back to DC to live in it later, and I’m playing the long game.
Should I rent for a year and wait and see if I will stay in DC longer? I would hate to miss out on the equity.
Would love to hear your thoughts and advice especially those who live in the area or are familiar with it. Cheers!
Buying a home in the DMV area…is it worth it in my situation?
byu/Rude_Cucumber_8338 inMilitaryFinance
Posted by Rude_Cucumber_8338
1 Comment
West Alexandria will have the only somewhat reasonable condo pricing 350Kish. Townhouse or above forget about near that. Unless you really want to be a landlord I wouldn’t buy if I was here a term.
I lot of these $700K starter townhouses in desirable areas honestly suck. I’d rent with roommates or find a basement apartment. Best way to get under BAH while being in Alexandria.
Source is me going through the buying process for months as a federal employee before saying screw it and moving away for twice the space and half the price literally.