You can get a 2 bedroom condo in springfield VA, near 495 and 95 for about $260K and the morgatge on that would be around 2K a month interest only, and let it appreciate, then fix it up right before you sell it in 2 years, and use the profit from that to get a better place. I'm a beginning real estate investor in the area, so price wise, Springfield is relatively low, and a few other places. In Herndon, you can find some places around the mexicans for like 200K, and that will bring down the payment, and I personally live in herndon and like the area a lot. You're near the airport, tysons, dulles, centerville. I also just moved up here after I graduated last may from Virginia Tech, so, I know what you mean. And 70K will be plenty if you just shop around for a place that meets your needs. If you work IN D.C. i'm not sure, you may want to find a place closer to work then herndon. Springfield, 95 is probably backed up a lot in the morning into D.C. i wouldn't know. Best of luck.

 

are taxes really that high in d.c.

 

No, cost of living is.

 

ding ding ding

 

Congratulations on your job. 70k isn't much for the area in my opinion. It really depends on where you're working and living. Look for a roommate to maximize your money. I made the jump to DC from the Langley back in the summer of 04. It's been a great ride, but it's all about the money now and I'm looking to get out of IT. If you work hard and have a decent clearance six figures is not out of the question. Good luck.

Benny