Wednesday, June 21, 2006

Attack of the Condos!

As some of you know, in the past few days it looked like I might be getting a condo. Not just any condo, the most perfect condo in Alexandria. Perfect location (within walking distance of the blue and yellow lines), about 5 miles from my parents’ homes, with 9 foot ceilings, crown molding, a big bedroom, and a gorgeous kitchen. Well, basically, I decided to wait. I’m being responsible! PRAISE ME!

Anyhoo, the condo cost $288,000 which, believe it or not, is a really great price for a one bedroom place in Alexandria. Virginia offers a ton of incentives for first time homebuyers such as no down payment, low monthly payments, etc. so it’s possible I could have afforded this place on my pathetic government salary.

But here’s the thing. I have been telling myself I am about two years away from moving out and that is the frame of mind I have been in. When it seemed like all of a sudden I might be getting a condo in a month or two, I kind of froze. I just haven’t felt “ready.” This is the kind of big step that for someone like me (a compulsive planner), requires time to sink in. I mean, I would own property. I don’t own anything! My mom technically owns my car, and she and my brother pitched in on my laptop. So pretty much the only thing that I own of any value right now is my Sony 5 disc DVD player. Whoo?

I also talked to a friend of Mom’s who owns a bunch of real estate in Northern Virginia and he suggested waiting a year or two. Apparently, interest rates are very high right now and in the next couple of months the market will be cooling down. Which means if I wait, prices might come down. And I am sure people will be trying to sell their condos in the community I want (The Exchange at Van Dorn btw).

So that’s where I stand right now. I’m not going anywhere for at least a year, assuming I don’t win the lottery or get married or something. And, you know what? That’s ok. I like being at home. There’s no shame in living in the basement. Especially not when it looks like mine, I’ve got a 5 disc DVD player down there.

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