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Ashburn VS Leesburg Rental Market Demand
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Question Ashburn VS Leesburg Rental Market Demand - March 1, 2017, 02:36 AM

Update

Just wanted to say thank you all of you guys for taking the time to replay .... I am sorry i am late with the reply's and my horrible spelling/grammar. Breakup and first home purchase on the same week . (( Read all the comments just didn't get a chance to replay right away ))

I picked a property in Broadlands VA.

----------------------------------------------------------------------

Hi everyone I am in the process of buying my first home . I am considering buying in Ashburn or Leesburg. I will most likely be buying a townhouse with 3 to 4 beds and my plan in to rent out a couple of the rooms or maybe the basement. I wanted to get some opinions as far as location . Which do you prefer and why ?

Any information regarding the 2 location or renting out rooms in general will be appreciated .


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March 1, 2017, 02:58 AM

Talk to Nate, svtvenom98. Pretty sure he has a successful brothel
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March 1, 2017, 06:29 AM

Leesburg has town and county taxes, keep that in mind. There are new townhouses going up right near Tuskies/fireworks/market station. The downtown area is getting good, too.


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March 1, 2017, 06:54 AM

Leesburg is definitely trying to be more "hip" with the re-gentrification of the downtown area.

Keep in mind that if you are out that far, you are married to the $6 per trip toll road. In Ashburn, you have some work around options.

You will pay more for the same square footage in the same setting (i.e. suburban sprawl, "downtown", etc.) in Ashburn than you will in Leesburg. Ashburn is also gonna have more options for stuff to do.

That said, you will pay more (assuming equivalency in size, location, etc.) in Ashburn but you should be able to charge a bit more as well.
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March 1, 2017, 02:50 PM

I'd look into where your friends/family reside and your work. Being stuck in long commutes is a cost you have to consider. If you have more peeps or more reason to go west then maybe Leesburg. I'd vote Ashburn, not as far from 28, Loco Pkwy, FFx co pkwy, etc. Again...kinda depends on where you are at and where you go.


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March 1, 2017, 03:57 PM

Ashburn = Cashburn.
If your midterm goal is to buy a home so you can rent out rooms while you live there, there are far better ways to deploy that capital or lower your entry price by looking elsewhere while being able to maintain the same rent rolls each month.
More profit for you. No discernible difference in quality of life.

Almost everyone I know who got sold on the Virginia Shangri-La of Cashburn / Leesburg, and moved there from points East now laments the purchase and their commute.

They love their brand new beautiful Ryan / Toll Bros homes - and that's about it.



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March 2, 2017, 08:29 AM

I moved to Ashburn last century! 1997 into Ashburn Village. Them moved to the Broadlands in 2003 due to divorce. I wanted to stay in the area because it is a great place to raise a family.

The property market seem to take a slightly bigger hit than average a few year ago. Probably due to the over-abundance of speculators and the rapid price rise in Loudoun county.

The Ashburn area is more of a family area. Leesburg is looking toward more town center living. Look at what lifestyle you want and what type of people may be your renters. Either place will be good for property value increase.

The notes that others have made about commutes are something you need to be concerned with. It takes me about 50 minutes to get to DC in the morning and about and hour to get home in the evening. Morning leave time is 6am. I leave work to head home at 4pm. The times when my commutes are later result in a longer commute time.

I am currently renting out my townhouse in the Broadlands. it has 2500 sq ft, two car garage, 3 beds, 2 full and 2 half baths. walking distance to the main pool and to one of the shopping centers (5 min). Currently rented out at $2000/month (I gave a deal to a friend). Current market would let me rent the place fr about 2400 - 2600 per month. I'm not sure what a room rental would cost.

I have decided to sell when the lease is up. It was a toss up between staying a landlord and not having to deal with that. The market is going up. A few townhomes in the immediate vicinity seemed to go under contract with one month. It may be due to the location. It is less than a mile from the end of the Silver line when it is completed. I can only imagine demand and prices accelerating as the metro nears completion.


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March 2, 2017, 06:33 PM

Hehe that's funny since I will be selling a 3 bedroom 3 floor townhouse in Countryside. I have been here 25 years and am out. This area is getting way too built up and with all the dam server farms going up its looks like shit. The traffic can be a nightmare but if you time it right ain't bad. I looked into Leesburg and really liked downtown. Even tried to buy an older house but it did not happen. I wanted some space and to go back to small town living. Moving to Berryville soon. If you want a newer townhouse be ready to drop around 400k. An older one like mine fixed up around 320k. An older house around 350-400. A nice house that is newer then 400 and up easy. Basically Ashburn is new school and leesburg is old school. Ashburn will cost more.


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March 3, 2017, 11:15 AM

Townhouse like mine with a 4th bedroom sold for $470K in october.
An end unit just sold in January for $485K.

New constuctions nearby with around 3000 sq ft are going for $530.

If you want to look at recent sales in the area, use the Loudoun County Real Esatate Tax database online.

Loudoun County


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March 9, 2017, 01:04 AM

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Talk to Nate, svtvenom98. Pretty sure he has a successful brothel
Thank You. I may contact him soon .


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March 9, 2017, 01:05 AM

Quote:
Originally Posted by noobstick86 View Post
Leesburg has town and county taxes, keep that in mind. There are new townhouses going up right near Tuskies/fireworks/market station. The downtown area is getting good, too.
Thank You this was good useful information .


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March 9, 2017, 01:08 AM

Quote:
Originally Posted by BlackHatch View Post
Leesburg is definitely trying to be more "hip" with the re-gentrification of the downtown area.

Keep in mind that if you are out that far, you are married to the $6 per trip toll road. In Ashburn, you have some work around options.

You will pay more for the same square footage in the same setting (i.e. suburban sprawl, "downtown", etc.) in Ashburn than you will in Leesburg. Ashburn is also gonna have more options for stuff to do.

That said, you will pay more (assuming equivalency in size, location, etc.) in Ashburn but you should be able to charge a bit more as well.

Thank you for this information i did keep this in mind after reading your comment specialty with the toll and road options to get out of that area. Right ashburn seems a bit more expensive but hopefully it will pay back a bit more in extra rental income.


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March 9, 2017, 01:12 AM

Quote:
Originally Posted by shiphteey View Post
I'd look into where your friends/family reside and your work. Being stuck in long commutes is a cost you have to consider. If you have more peeps or more reason to go west then maybe Leesburg. I'd vote Ashburn, not as far from 28, Loco Pkwy, FFx co pkwy, etc. Again...kinda depends on where you are at and where you go.

Hey Ali ... How you been ? Hope recovery is going well and quick . We need to go riding this summer again (( I still want to go and visit Mexico to do a top speed run haha ))

Thanks for the good info . Good points


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March 9, 2017, 01:16 AM

Quote:
Originally Posted by Heist View Post
Ashburn = Cashburn.
If your midterm goal is to buy a home so you can rent out rooms while you live there, there are far better ways to deploy that capital or lower your entry price by looking elsewhere while being able to maintain the same rent rolls each month.
More profit for you. No discernible difference in quality of life.

Almost everyone I know who got sold on the Virginia Shangri-La of Cashburn / Leesburg, and moved there from points East now laments the purchase and their commute.

They love their brand new beautiful Ryan / Toll Bros homes - and that's about it.
Heist i always like to read what you have to say... you sound like a smart man.. if you don't mind can i contact you to get some advise on the rental thing ?


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March 9, 2017, 01:29 AM

Quote:
Originally Posted by bike4fun View Post
I moved to Ashburn last century! 1997 into Ashburn Village. Them moved to the Broadlands in 2003 due to divorce. I wanted to stay in the area because it is a great place to raise a family.

The property market seem to take a slightly bigger hit than average a few year ago. Probably due to the over-abundance of speculators and the rapid price rise in Loudoun county.

The Ashburn area is more of a family area. Leesburg is looking toward more town center living. Look at what lifestyle you want and what type of people may be your renters. Either place will be good for property value increase.

The notes that others have made about commutes are something you need to be concerned with. It takes me about 50 minutes to get to DC in the morning and about and hour to get home in the evening. Morning leave time is 6am. I leave work to head home at 4pm. The times when my commutes are later result in a longer commute time.

I am currently renting out my townhouse in the Broadlands. it has 2500 sq ft, two car garage, 3 beds, 2 full and 2 half baths. walking distance to the main pool and to one of the shopping centers (5 min). Currently rented out at $2000/month (I gave a deal to a friend). Current market would let me rent the place fr about 2400 - 2600 per month. I'm not sure what a room rental would cost.

I have decided to sell when the lease is up. It was a toss up between staying a landlord and not having to deal with that. The market is going up. A few townhomes in the immediate vicinity seemed to go under contract with one month. It may be due to the location. It is less than a mile from the end of the Silver line when it is completed. I can only imagine demand and prices accelerating as the metro nears completion.
Thank you very much for taking the time to write all this . All of this is good info to know and keep in mind. They sure seem to be going quick. The place i picked up in broadlands was only on the market for a few days . 2400-2600 is now bad at all i would say . That is def something i may do myself also in 5-10 years if i decide to move or just sell it. As far as room rental I am not sure I am guessing I can ask 500-800 for the regular size rooms .


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