The Pros and Cons of Buying a House in Northern Virginia

Considering buying a house in Northern Virginia? Here’s our entire list of pros and cons as a military family.

When Dane and I first came to the Washington, DC area, it was for a 12-month duty assignment with the military. With it being so short, we knew we weren’t interested in buying, but as that time has been extended, we began talking about buying a home. Northern Virginia, often abbreviated as NoVA, is a region rich in history, culture, and economic opportunity, but like any major decision, buying a house here comes with its own set of pros and cons.

Today I’m sharing our entire list of pros and cons and what we considered when it came to trying to decide if we wanted to buy in NoVa.

The Pros and Cons of Buying a House in Northern Virginia

Buying a house in Northern Virginia is a significant investment with both its advantages and challenges. The region offers unparalleled economic opportunities, a high quality of life, and a vibrant, diverse community. However, these benefits come at a cost, with high living expenses, expensive housing, and traffic woes.

The Pros of Buying a House in Northern Virginia

Economic Opportunities

One of the biggest draws to Northern Virginia is the abundance of job opportunities. With its proximity to Washington, D.C., NoVA hosts numerous federal agencies, government contractors, and private sector companies. Tech giants like Amazon have also established significant presences here, particularly with the development of Amazon HQ2 in Arlington. This economic vibrancy translates to strong job security and career growth potential. See also: You would probably never struggle to get renters if you decided to move one day or you’re a military family who consistently moves.

Quality of Life

Northern Virginia offers a high quality of life. The region boasts excellent public schools, making it an ideal place for families. Additionally, the area is home to some top-notch healthcare facilities. Recreational options are abundant, with parks, hiking trails, and cultural venues aplenty. For those who love a blend of urban and suburban living, NoVA provides a perfect balance.

Proximity to the Nation’s Capital

Living in Northern Virginia (specifically Arlington or Alexandria) means you’re just a short drive or metro ride away from Washington, D.C. This proximity allows for easy access to the nation’s capital’s museums, historical sites, and some insanely good restaurants. For professionals, it also means a short commute to federal jobs and international organizations.

You Own A House

This one may seem silly, but sometimes as a military family that bounces around a lot, you want something that is truly yours. This is often a big contributing factor and one that needs to be weighed against the cost of living and if you can actually swing purchasing/if it makes sense for your family’s needs.

The Cons of Buying a House in Northern Virginia

High Cost of Living

One of the most significant drawbacks is the high cost of living. Northern Virginia consistently ranks as one of the more expensive areas in the country. Everyday expenses like groceries, dining out, and fun things (happy hour, sporting events, etc) can be higher than the national average. 

Expensive Housing Market

The cost of homes in Northern Virginia can be daunting. As of now, the median home price in the region is significantly higher than the national average at around $800,000 (post published June 2024). While this reflects the desirability and economic strength of the area, it can be a barrier for first-time homebuyers or those looking to upgrade. Bidding wars and rapid appreciation are common, which can make the home-buying process stressful and competitive. Don’t even get me started on interest rates…

Traffic and Commute Times

Traffic congestion is a notorious issue in Northern Virginia. Despite extensive public transit options, including the Metro, many residents face long and frustrating commutes. Major highways like I-66, I-495 (the Beltway), and Route 50 often experience heavy traffic, especially during peak hours. This should absolutely be a consideration when choosing where to buy in this area, especially if one or more adults in the house will need to commute each day. The closer you live to DC, the more expensive the home is going to be, which often means long and expensive commutes.

Competitive Market

The competitiveness of the housing market is both a pro and a con. While it’s a sign of a strong economy, it also means that buyers need to act quickly and be prepared to make substantial offers (big deposits, all cash, over asking, etc). This can be challenging, especially for those who are not used to such a fast-paced market. We would see houses we loved be snatched up within hours of being posted, only to find out they sold it before it ever even officially hit the market. It became absolutely exhausting!

If you’re considering making NoVA your home or are getting ready to PCS here, I recommend doing thorough research, assessing your financial situation, and considering what lifestyle factors are most important to you. While we have ultimately decided that buying isn’t in our family’s best interests for right now, I wanted to share our list of pros/cons if you’re moving to the area and considering buying property.

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