Virginia Beach Housing: My Renting vs. Buying Nightmare (And a Weird Fish Statue)
look, i’ve been staring at this humidity like it owes me money. it’s that thick, salty air that makes your hair a permanent frizz halo and your sneakers squelch with every step. virginia beach in july isn’t a postcard-it’s a test. and right now, the big test for me is staring at this lease renewal notice that feels like a personal insult. so i got the bright idea to actually dig into the renting vs. buying thing here, because everyone and their uncle has a strong opinion, mostly delivered while holding a cheap beer.
first, the numbers, because i’m not totally irresponsible. as of this mess we call 2024, the median rent for a one-bedroom in vb is floating around $1,850, according to zillow’s little tracker. a two-bedroom? good luck under $2,400 unless you want to live somewhere that shares a wall with a taco bell dumpster. now, buying? median listing price is sitting pretty at $450k. the mortgage on that, with today’s rates, isn’t a “dream home” payment-it’s a “two-jobs-and-a-side-hustle” payment. but here’s the messed-up part: you’re actually building something. sandcastle equity, maybe, but it’s yours. renting feels like you’re paying your landlord’s kid’s college fund. and don’t get me started on property taxes and insurance-that’s a whole other monster that eats about $6k-$8k a year on a place here.
> "just buy a condo," they said. "it’ll be easy," they said. my friend’s a tattoo artist in the viBe district, and her condo fee is $400 a month and they just voted to replace all the exterior light fixtures. it’s a scam wrapped in a homeowners association meeting.
*the weird thing about virginia beach* is that the market isn’t just one thing. you’ve got the oceanfront, which is basically a seasonal ATM for landlords, then you’ve got the massive, sprawling neighborhoods inland-think great neck or red mill-where families are hunkering down because the schools are decent and you get a garage. the job market is mostly military, tourism, and a weirdly solid healthcare scene. if you’re not in those circles, good luck finding a gig that pays enough to swing a mortgage without crying into your pbr.
> i overheard two guys at the bar at the virginia beach brewery (great beer, terrible acoustics) talking. one goes, "i tried to buy last year. my pre-approval was a joke. the seller wanted 20 offers over asking, all cash, no inspections. i bought a timeshare instead." the other just nodded into his wings. that’s the energy.
weather’s a beast, too. it’s not just the summer swamp. winter can sneak up and bite you with a nor’easter that floods first street. insurance companies are awake to this-flood insurance is a non-negotiable horror show if you’re anywhere near the water. that’s a hidden cost that turns a "good deal" into a "why did i do this" real fast.
so, what’s a local to do? honestly, it feels like you need a crystal ball or a rich relative. i keep tabs on the r/VirginiaBeach subreddit, and it’s a rollercoaster of "just listed!" and "price reduced!" posts. people are hungry. you see a lot of "sold over asking" stickers on for-sale signs driving down general booth. it’s a fever.
my neighbor-retired navy, grows killer tomatoes-he told me straight up: "son, renting here is throwing money away, but buying is like marrying the tide. you think you’re building equity, but the water will always come for your foundation. get a rental with a lease you can negotiate, and put the difference in an index fund. trust me." i don’t know if he’s a genius or just really cynical about the soil.
for actual data, the virginia beach city government’s own stats show housing costs are the #1 budget item for most residents. it’s not glamorous. i also check the local yelp for worst landlord stories because nothing motivates you like reading about people whose AC broke for six months.
maybe the answer is neither. maybe you camp in false cape state park and become a ghost. but if you need walls, the math is brutal. renting gives you flexibility to leave when the tourists invade (may-sept) or when your roommate’s band starts practicing in the living room. buying traps you in the best and worst parts of this place. you get the fourth of july fireworks from your porch, but you also get the special assessment for repaving your street.
anyway, i’m going to go stare at that weird fish statue on the boardwalk-the one that looks like it’s judging your life choices-and think about how a mortgage payment could instead be 17 trips to the good coffee spot that doesn’t taste like dishwater. decisions.
You might also be interested in:
- https://topiclo.com/post/best-suburbs-in-yaound-for-families-and-young-professionals-my-digital-nomad-take-2023
- https://topiclo.com/post/seasonal-weather-in-atlanta-what-to-expect-throughout-the-year-and-why-youll-probably-sweat
- https://topiclo.com/post/cocodys-faith-faces-and-friday-feasts-a-chaotic-guide
- https://topiclo.com/post/austins-secret-film-burns-breakfast-taco-confessions
- https://topiclo.com/post/the-history-of-antalya-from-origins-to-modern-day