What kind of property can you buy
in these 4 different Northern Virginia locations for $500,000?
Arlington, Reston, Leesburg, and Gainesville
Arlington is in close proximity to Washington, D.C. and therefore is headquarters to many departments and agencies of the federal government. Ronald Reagan Washington National Airport is also located in Arlington and many universities have campuses in this city. Arlington has a population of about 229,000 people currently. Presently, in the postal city of Arlington, there are less than 20 homes available in the $500,000 price range. Most consist of condos and a few townhomes, with monthly fees ranging from $300 to upwards of nearly $1,000 a month. Nearly all are two bedroom, two bath units from just 570 square feet to 1,546 square feet. Closer to the water is where prices really increase and those are mainly 1/1 condos.
Reston was founded in 1964 as Virginia’s first planned residential communities. The Reston Town Center has many businesses consisting of high and low-rise commercial office space buildings and shops, restaurants, a hotel, as well as a cinema. Moreover, Reston was ranked 10th in the Best Place to live in America in 2014 by Money Magazine. For $514,500 purchasers can buy an end-unit townhouse built in 2013. The house comes with upgraded granite countertops and hardwood floors. It has three bedrooms, two full baths, and two half baths with a one car garage. For $499,900, buyers can purchase a 4 bedroom, two full and one half bath townhome. It was built in 1972 and does not have a garage but this unit is completely renovated on the inside and modernized. If buyers would like to live closer to Reston Town Center, that’s when the prices per square foot increase. For $510,000 with a $732 monthly condo fee, the new owner can live in a one bedroom, two bathroom mid-rise condo with great walkability.
Leesburg, in Loudoun County, is an historic town about 30 miles northwest Washington, D.C. with the northeast portion adjacent to the Potomac River. Over the last 30 years, Leesburg has undergone considerable growth and development, transforming to a suburban community for commuters to the nation’s capital. In contrast to Arlington and Reston, in Leesburg you can get some newly built single family detached as well as attached homes for around $500,000. The majority of those have four and five bedrooms with about 2,500-3,000 sq ft and low HOA fees of $50-80 per month.
Gainesville is located in Prince William County and since 2000, has undergone major commercial and residential development leading to many major shopping centers. Located about a fifty minute drive west of Washington, D.C., it’s openness and more “bang for your buck” housing attracts many lucrative commuters. For the $500,000 mark, purchasers can buy larger homes for less than many other Washington, D.C. surrounding areas. Many homes are large Colonials with at least 4 bedrooms ranging from 2,600 – 3,000 sq ft with low HOA fees in high-end gated communities.
Call The Girls of Real Estate to help you find your dream home in any one of these areas today!