Homeowners in the DMV area:

Hi there 🐠,

How old were you when you bought your first home, and approximately how much were you making at the time?

Id like to buy and wondering how others began. TY

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Just bought studio in new building in navy yard.

25 making $110K. Put $100K down (mix of own savings and small inheritance from parents, $40K) and mortgage is about 1700 a month without homeowners fees/taxes/utilities

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Salary at time $68,000 (2011)
Age:29
Purchased 1 bed/1bath condo in North Reston
I put 20% down to avoid PMI

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PwC1 makes a great point as well. We can’t answer these questions for you, OP. You have to consider your situation and financial ability to buy or rent/save for future purchase

Congrats guys!

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Age: 22 (currently 25)
Salary: Salary + OT at level 11 was 135k. Current salary with no OT is 105k
Purchased a condo in Vienna, VA. Put down 25%

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2 years ago, used only my partner's salary at the time 120k to buy a 310k TH. 20% down. Early 20s
HH income is now at 275k. Very affordable payment including P&I, insurance and HOA is 1600.

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Thanks for eliminating the eastern shore.

HH income of 300K at 30. Bought a single family home in NW DC. I regret not buying sooner.

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Where in NW?

Age: 26
HH income of 182K
Bought a TH in Ashburn, VA for 530K last year
Put down 20%

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Age-29; put down 20% on 660k townhouse in Falls Church. $115k salary

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Anybody buying in DC proper? Specifically excluding neighborhoods with less competitive real estate like Navy Yard or 16th St Heights

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I did, realized in a few years I can’t probably rent out my studio to the amazon folks in Crystal City for $2700 a month

27, Baltimore, $268k for house, $96k income

4br townhome in city limits, 3 roomies so I’m just shy of being cash flow neutral. It’s basically free money.

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34 y/o making $150k. Bought a $450k condo in NW 10% down payment. Probably could have done it earlier but come from a poor family and took awhile to save enough (especially working at cheap BAH). I was also content with my rent controlled Logan Circle studio while saving.

26

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