With recent dips in the market including an 11% decrease in Fairfax’s average listing price, Northern VA is a promising area to start shopping for your next home thanks to its current buyer’s market; especially for those who work in the surrounding areas including Washington, D.C. Are you ready to start house shopping, but are on a budget? What if the top price you are able to pay for your Northern Virginia dream home is no more than $150,000? Let’s talk about what you’re able to buy within your spending limit.
When you’re on a budget, you have to make calculated decisions while also making sure that your purchases meet all of your needs. While home shopping, your biggest concern will probably be how much square footage you can get for $150,000. If you can’t compromise on your budget, don’t despair. The Virginia Real Estate market has an array of listings and one is sure to be the ideal fit.
Assuming that you are sticking to your $150,000 budget, let’s see what size homes will be available to you. If you are single or married with no children, there is the option of purchasing a townhouse or condo. For this particular budget you will be able to consider properties within Alexandria and the surrounding Washington Metro area where 1-2 bedroom townhouses and condos sell for between $125,000 and $150,000. This means that you can save a few thousand dollars to put back for a rainy day.
If you are in search of a family home, you will want to look outside of the Washington Metro area as the homes in that specific region typically start at no less than $300,000. However, you can find affordable properties by shopping in Winchester, Manassas, Berryville, Fairfax and Falls Church. One example of a great deal is a four bedroom, 2 bath single family home in Berryville for $150,000. Another example with an even better price is a $139,000 for a home in Manassas that has 3 bedrooms and 1 bath.
The bottom line is that for $150,000, depending on the location you need to buy in, you have several property type options. Before starting your RE shopping process feel free to contact us about homes we have available. You never know, your next home could be one of our recent projects.