Looking to buy a home for $800,000? Here’s what you can expect to find. - HabariCloud
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Looking to buy a home for $800,000? Here’s what you can expect to find.

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Looking to buy a home for $800,000? Here’s what you can expect to find.

Not too long ago in the District and close-in areas, an $800,000 house was highly sought after by move-up buyers. The buyers were couples who were starting a family and had outgrown their starter home.

These days, that same house is priced at a million or above, and some homes selling for $800,000 are going to first-time buyers. Although most starter homes in this region range from $300,000 to $500,000, some buyers’ first homes cost about $800,000, says Mandy Mills, a real estate agent with Compass.

“A lot of people rent for a long time and save their money, so their first purchase is going to be a long-term purchase and not the one- or two-bedroom condo,” Mills said.

Inventory is part of the problem. Few homes are available in the lower price ranges. Some buyers continue to save, hoping more houses will be available at a higher price. But there’s not much to choose from in the $800,000 range, either. Mills searched the multiple-listing service Monday for single-family houses (no townhouses or condos) in the District priced between $750,000 to $800,000 and found just 30 on the market.

Nice homes in this area can be found for about $800,000, but there are trade-offs. Christine Richardson, a real estate agent with Weichert, did a similar search in Virginia and found a three-bedroom townhouse near the Army Navy Country Club and a four-level townhouse near Cameron Station, but few single-family houses, especially in highly sought-after areas.

“There’s not much in the way of single-family homes available in this price range in McLean, as the value of a building lot in McLean is now at $700,000 to $900,000, depending on the size and location of the lot,” she said.

As discouraged as buyers in this price range might be, we found a mix of properties available in and around Washington and across the country with the help of Realtor.com. As you can see, the types of homes you can buy for $800,000 vary greatly, depending on location.

We also asked the folks at Realtor.com to help us calculate what the monthly cost would be to own an $800,000 home. Of course, the amount of debt you have will alter these calculations. But, based on a 20 percent down payment and a 30-year fixed rate mortgage at 4 percent, the monthly mortgage payment on an $800,000 home would be about $4,202, including taxes and insurance. (Realtor.com used average national tax and insurance rates in its calculations.) To keep within the general guidelines of spending no more than 30 percent of your gross income on housing, a buyer would need to earn at least $168,085 to afford a home in this price range.

Wondering what $800,000 buys you? Take a look below.


714 Sixth St. SW, Washington, D.C. (Photo by HomeVisit)

714 Sixth St. SW, Washington 20024

3 bedrooms, 2 bathrooms.
Square footage: 1,912.
Price per square foot: $418.
Lot size: 0.02 acre.
Features: Built in 1960, the three-level townhouse near the Wharf has hardwood flooring in the main living areas. Master bedroom has Juliet balconies. Basement has a separate entrance with bedroom, bathroom and kitchenette. Outdoor spaces include a deck and brick patio. Parking is available. Monthly homeowners association fee is $42.
Listing agent: Andrew Peers, Compass.


625 Ellen Wilson Pl. SE, Washington, D.C. (Photo by HomeVisit)

625 Ellen Wilson Pl. SE, Washington 20003

2 bedrooms, 3 bathrooms.
Square footage: 1,156.
Price per square foot: $691.
Lot size: 0.04 acre.
Features: The 2004 Tudor-style townhouse on Capitol Hill has hardwood floors and crown molding throughout the home. The living and dining rooms share a two-sided fireplace. Property has a brick patio, shed and an assigned parking space. Monthly homeowners association dues are $125. An open house is scheduled for Sunday from 1 to 3 p.m.
Listing agent: Michael Lederman, Keller Williams Capital Properties.


1301 H St. NE, No. 2, Washington, D.C. (Photo by Tod Connell)

1301 H St. NE, No. 2, Washington 20002

3 bedrooms, 2 bathrooms.
Square footage: 1,115.
Price per square foot: $717.
Lot size: n/a.
Features: The Lucille is a new condo building in the H Street corridor with nine units. The apartments have hardwood floors, floor-to-ceiling windows with views of Capitol Hill, exposed masonry, and in-unit washers and dryers. Kitchen has marble countertops. Monthly homeowners association dues are $204. An open house is scheduled for Sunday from 1 to 4 p.m.
Listing agent: Brent Jackson, TTR Sotheby’s International Realty.


102 Lahinch Dr., Millersville, Md. (Photo by Joanna Kaufman/Photo2Image Photography)

102 Lahinch Dr., Millersville 21108

5 bedrooms, 4 bathrooms.
Square footage: 4,717.
Price per square foot: $169.
Lot size: 0.92 acre.
Features: A long front porch with stately columns welcomes visitors to the 1995 house in the Kilmarnock Woods community. It has two master suites, an updated kitchen, a fireplace in the family room and a wrap-around bar on the lower level. The property includes a spacious back yard and deck. Monthly homeowners association dues are $17.
Listing agent: Dee Dee Miller, Long & Foster.


9911 Sienna Way, Laurel, Md. (Photo by Picture Perfect)

9911 Sienna Way, Laurel 20723

6 bedrooms, 6 bathrooms.
Square footage: 4,182.
Price per square foot: $191.
Lot size: 0.17 acre.
Features: Built in 2015, the three-story house in the Wincopia Farms community has engineered hardwood floors, crown molding and wainscoting on the main level. The ktichen has double ovens, a separate cooktop and a large island. Lower level has a bedroom and bathroom. The two-car-garage is attached to the house. Monthly homeowners association fee is $76.
Listing agent: Christopher Sartwell, Century 21 New Millennium.


2725 Beach Dr., Huntingtown, Md. (Photo by Ron Peiffer)

2725 Beach Dr., Huntingtown 20639

2 bedrooms, 3 bathrooms.
Square footage: 3,100.
Price per square foot: $258.
Lot size: 0.34 acre.
Features: The 2007 art deco-style house is part of Neeld Estates, a beach community built on land that was once part of Letchworth’s Chance. The beach is privately owned and can be used only by residents of Neeld Estates. The house has marble and hardwood floors, 10-foot ceilings, two fireplaces, an elevator and multiple decks. The property has covered and uncovered parking spaces. Monthly homeowners association dues are $8.
Listing agent: Don McCoy, Rebate Realty USA.


11725 Henderson Rd., Clifton, Va. (Photo by HomeVisit)

11725 Henderson Rd., Clifton 20124

4 bedrooms, 4 bathrooms.
Square footage: 3,020.
Price per square foot: $265.
Lot size: 3.55 acres.
Features: The 2001 brick Colonial is on a large, gated and fenced lot with spacious lawn and woods. Aside from the two-story foyer, the main living spaces have hardwood floors. The recently added sunroom and three-season porch extend the living space. Lower level has a bedroom and bathroom. The property includes a large brick patio.
Listing agent: Damon Nicholas, Coldwell Banker Residential Brokerage.


8718 Scott St., Springfield, Va. (Photo by John Mosley)

8718 Scott St., Springfield 22153

4 bedrooms, 4 bathrooms.
Square footage: 3,737.
Price per square foot: $214.
Lot size: 0.51 acre.
Features: The 2009 house in the Chapel Acres community has a two-story foyer, crown molding, wainscoting and hardwood floors. The two-story great room is anchored by a fireplace. The kitchen has double ovens, a separate cooktop, large center island and breakfast area. The master suite has a large dressing room and an exercise room. The property includes a large, fenced back yard and a two-level deck.
Listing agent: Brian Hunter, Re/Max Executives.


107 Lake Dr., Sterling, Va. (Photo by TruPlace)

107 Lake Dr., Sterling 20164

5 bedrooms, 4 bathrooms.
Square footage: 4,600.
Price per square foot: $174.
Lot size: 1.19 acres.
Features: The 1987 brick Colonial in the Richland Acres community has hardwood floors and crown molding in the main living areas. The library has mahogany paneling, shelving and trim. The family room has a vaulted ceiling, skylights and a gas fireplace. Bay windows in the dining room and breakfast area overlook the fenced back yard. The lower level has a wet bar and a home theater.
Listing agent: Marlene Baugh, Long & Foster.


1787 Pierce St., Daniel Island, S.C. (Photo by Audra Walters)

1787 Pierce St., Daniel Island, S.C. 29492

5 bedrooms, 4 bathrooms.
Square footage: 2,869.
Price per square foot: $279.
Lot size: 0.17 acre.
Features: The 2010 house is on Daniel Island, a town within the city of Charleston. It is near Smythe Lake, an 11-acre body of water. The house has a two-story front porch with columns. A back porch overlooks the fenced back yard and is connected to the deck. The updated kitchen has granite countertops, stainless steel appliances, a large island and a breakfast nook. Monthly homeowners association dues are $82.
Listing agent: Audra Walters, Carolina Elite Real Estate.


517 Woodlake Dr., Louisville. (Photo by Greg Sokoler/We Sell Louisville)

517 Woodlake Dr., Louisville 40245

5 bedrooms, 5 bathrooms.
Square footage: 5,798.
Price per square foot: $138.
Lot size: 0.56 acres.
Features: The recently remodeled 1989 house is in the Lake Forest community, about 20 minutes east of downtown. A sunroom with sliding glass doors opens to a deck that overlooks the lake. The family room has a whitewashed brick fireplace with a 100-year-old oak mantel. Monthly homeowners association dues, which include access to a clubhouse, pool, tennis courts and sand volleyball, are $91.
Listing agent: Dedre Morse, ReMax Properties East.


1924 44th Ave. SW, Seattle. (Photo by Matt Deering/Redfin)

1924 44th Ave. SW, Seattle 98116

4 bedrooms, 2 bathrooms.
Square footage: 1,760.
Price per square foot: $455.
Lot size: 0.03 acre.
Features: The 1948 home in the North Admiral neighborhood of west Seattle has unusual and eye-catching brickwork on its exterior. The recently remodeled home has new hardwood floors and carpeting. The updated kitchen has quartz countertops and new cabinetry. Two of the bedrooms are in the furnished basement. The property includes a private, fenced back yard with a patio.
Listing agent: Klaus Gosma, Redfin.

Source: WashingtonPost

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