What If I Wait Until Next Year to Buy a Home?We recently shared that national home prices have increased by 6.7% year-over-year. Over that same time period, interest rates have
3 Reasons Why People Move From Washington DC To Prince William County
Over a four-year period, more than a half-million people moved to D.C.—but just as many moved out. The District’s population has a turnover of about 8 percent per year, and many people moving into the city cite convenience and proximity to work as the primary reason. However, if that’s the case, why do just as many move out of the city when their jobs are located there?
Experts say there are three major reasons people move from D.C. to Prince William County, which includes the thriving communities of Haymarket, Gainesville, Bristow, and the independent City of Manassas.
Additionally, adjacent Fauquier County features the Town of Warrenton, another popular destination for people moving out of DC. Warrenton is particularly appealing to homebuyers who are ready to enjoy the beautiful Virginia countryside and live on 1 or more acres for a reasonable price.
The 3 top reasons why people move from DC to Prince William and Fauquier County are:
Most frequently, people leave D.C. to move to Prince William County because they want:
More affordable housing - get more for your money
To stop renting and purchase a home
Housing alone accounts for about 36 percent of the moves from D.C., and it’s no surprise. Housing in the city is excessively expensive.
According to Zillow:
Washington, DC is a Very Hot Sellers' Market . The median home value in Washington, DC is $516,300. DC home values have gone up 5.9% over the past year. Zillow predicts they will rise 2.1% within the next year.
As noted by Trulia, the median price of a 2 bedroom purchased in Washington, DC is currently running $566,750.
It makes sense to compare what Prince William County offers as a housing alternative!!
For savvy home buyers, there are a number of available homes in Prince William County offering ample square footage and upgraded features at great prices. While a 2 bedroom in DC averages $566,750, for slightly more ($579,777) you can buy, as an example, a stunning 3 bedroom, 3.5 bath home with 4,531 square feet in the Dominion Valley Country Club Community - Haymarket. Gated community, water views, HOA fee includes lawn maintenance and clubhouse amenities. Click here to take a peek at the property located on Arnold Palmer Drive.
The Dominion Valley Country Club location is the perfect choice if you're looking to get away from the hustle of DC.
For those looking to "right size" their life, the place to check out is Regency at Dominion Valley. A premier 55+ Active Adult Community with golf course, clubhouse, outdoor pool, exercise room, walking trails and more!!
According to Perry Stein with The Washington Post
The median rental price for a one-bedroom apartment in D.C. is about $2,000.
For less money out of pocket on a monthly basis, homeowners can enjoy this single family, 1,956 square foot home at 7440 Boundary Lane, Manassas, Virginia with 4 bedrooms and 3.5 baths. This property, with a 20% down conventional loan, would cost approximately $1,542 per month (including P&I, Taxes, and Homeowners Insurance).
Note: Monthly payment will vary according to the home buyers credit score and other mitigating factors. To start the home buying process, click on the link below to access Caliber Home Loans online application form. Rich Godbout will be happy to review any property you have an interest in and provide all the information you need to make an informed buying decision.
The job market in Prince William County has been growing consistently for the past several years. The top employers in the county include:
Prince William County Public Schools
The Department of Defense
The military’s Morale, Welfare and Recreation department
NoVa Community College
3. Change in Marital Status
Typically a change in marital status brings the need to acquire a different type of housing; the two-bedroom homes that make up the bulk of the market within D.C. may not cut it for new or blended families.
Other Reasons People Move From D.C. to Prince William County
Everyone has their own, unique reason for moving out of the city and into the suburbs. Some of the most frequently cited reasons, according to DistrictMeasured.com, include:
Attending or leaving college
Job related reasons
Wanting a “better” neighborhood
Statistics have shown that the usual narrative—the one that says Millennials prefer cities to suburbs—just isn’t true anymore. In fact, the numbers say that most young Americans (those aged 20 to 29) move from cities, not to them.
Thinking About Moving From D.C. to Prince William County or Fauquier County?
If you’re thinking about moving or ready now to start looking for a home in the "suburbs of Washington, DC, we can help you find the perfect place.
Use our TollRoadLiving website (directly connected to the Northern Virginia MLS system) to search for:
When you’re ready to explore your options, call us at 703-244-9343. Or, sign up for hot property alerts so you will be the first to know when homes meeting your search criteria hit the market. Our local market knowledge and ability to help our clients find the perfect homes—not just for now, but for tomorrow. Make TollRoadLiving.com the only choice for finding Prince William County or Fauquier County homes for sale.
Karen Komo Realtor Associate
Keller Williams Realty-Reston/Herndon
References for quotes noted above:
I grew up in Fairfax County and playing sports throughout the area. As an adult I have been running my own company for almost 10 years. I took a struggling franchise and grew it into the largest of i....