Just bought a rowhouse on H Street
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Anonymous
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...and I am having massive buyer's remorse. I bought south of H, but not as close to Union station as I would have liked. I believed in the neighborhood, partly because of the streetcar, but the streetcar is now in jeopardy. In addition, there are over 1400 condos/apartment units coming to the area. I am convinced I overpaid. I bought with the idea that I would live in the rowhouse for two years than rent it out. Someone please tell me I made the right decision!
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Anonymous
| What school? |
Anonymous
| What did you pay? Was it renovated? It's difficult to tell you whether or not you made the right decision if we don't know how much you paid. |
Anonymous
| I think the home prices in that area are ridiculous, myself, but people seem to be lining up to buy them, so you'll probably be fine, OP. |
Anonymous
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I don't think the availability of new condos and apartments should worry you all that much. My theory is that in desireable urban areas, supply can actually create demand because it makes everything more dense and creates more of what draws people in. But yes, it was silly to base your decision on the street car, which has been in question for a long time.
If you commit to staying for at least 5 years you will be fine. Now if you have a 2 year old and are zoned for Miner and don't have cash for private ... good luck! |
Anonymous
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Any outdoor space? And yes, need to know how big. You'll probably be fine unless it was a low-grade flip. The street car was BS to begin with, I'll be happy if they burn it out - never understood the difference between it and the bus anyway...
Whole Foods will be there by the time you want to move and you'll be able to rent. |
Anonymous
| Sorry. DC is huge bubble right now. When street car implodes and a few more charters close bc of corruption, ugh. |
Anonymous
| How much did you pay? How many BR? Renovated? It's hard to know if you got a good deal or not without any details. |
Anonymous
| Never buy a home as an investment. |
Anonymous
OP is too clueless to have gotten a good price. The market is so inflated. And rent It out in two years? That will have negative cash flow, no question. OP worried about new apartments and condos bc they represent downward pressure on her planned rents. And she is right to worry. |
Anonymous
| You will be fine. I think the streetcar will eventually come, but in the meantime, the neighborhood has really seen tremendous growth over the past 10 years for the better. |
Anonymous
I love how 80% of buyers in DC plan to rent it out and definitely don't plan to send to the IB school. So much ponzi. |
Anonymous
Seriously it's not i operation and already crashing and catching fire. Not to mention, no one rides street cars. Ever ride the ones in San Jose or Portland. Money losing and empty . |
Anonymous
At least do due diligence bf gambling, er, investing. http://www.cepr.net/index.php/blogs/beat-the-press/maybe-the-housing-market-in-dc-is-slow-because-prices-are-too-high |
Anonymous
| I live just south of H and I don't think you'll be sorry. Even if the streetcar never comes, which is stupid but likely, no one will miss it. Bus service is excellent on H. And you can't deny the power of Whole Foods. Aside from all that, it is a fantastic neighborhood. So many nice families, some good school options, walkable, lively but not too crazy, very accessible to downtown. Welcome to the neighborhood! |