Better investment - fancy neighborhood in DC or MD?

[Anonymous]

We are looking at basically the same house - lovely house (not new build, nice "bones"), very nice plot, nice safe neighborhood. One in DC, one in close in (to DC) MD. I know safe is a relative term now, but both are as safe-ish as you can get in these areas . I perceive the DC house as the better investment over time, but prefer the MD house. Husband says MD house is so close in, it stays in the "value bubble" provided by DC/Bethesda/Chevy Chase. Both walkable to amenity hubs.
I want to buy what we would enjoy right now, but also thinking of the kids. We would have to sell our existing DC home, which has been a great investment - doubled in value. We bought the last time the bubble burst.

[Anonymous]

MD is the way to go here, OP.

DC is facing extremely difficult financial times, with CRE imploding and huge revenue declines. Personal and sales taxes are likely to rise and services decline in the foreseeable future. Here is just one article.

https://www.globest.com/2022/12/01/cre-firms-collapsing-office-values-threat-to-dcs-fiscal-health/

MD also gives you in state college options.

[Anonymous]

Buy the house you like better.

[Anonymous]

Buy the house that will make you happiest.

Life is short and sacrificing even the smallest amount of joy/happiness for YEARS, for potentially somewhat more appreciation down the road, isn’t worth it imo.

[Anonymous]

DC had headwinds, but I doubt the value trajectories will be that different on either side of western Ave. DC’s problems will affect the whole area.

[Anonymous]

[twitter]

Anonymous wrote:MD is the way to go here, OP.

DC is facing extremely difficult financial times, with CRE imploding and huge revenue declines. Personal and sales taxes are likely to rise and services decline in the foreseeable future. Here is just one article.

https://www.globest.com/2022/12/01/cre-firms-collapsing-office-values-threat-to-dcs-fiscal-health/

MD also gives you in state college options.

The people in the fancy neighborhoods aren’t stressed about college.

[Anonymous]

Team DH!

[Anonymous]

Md so you don't need private schools ( though sounds like you're in Jackson Reed area which means you don't need private)

[Anonymous]

Anonymous wrote:Md so you don't need private schools ( though sounds like you're in Jackson Reed area which means you don't need private)

Most of the private schools are in the wealthy areas where the “good” public schools are because people who can afford to buy houses in those areas can also usually afford private school.

[Anonymous]

DC.

Also very much depends which neighborhood in DC and which in MD. Your definition is broad.

If you can afford Cleveland/Woodley Park, there’s no comparison

[Anonymous]

Anonymous wrote:MD is the way to go here, OP.

DC is facing extremely difficult financial times, with CRE imploding and huge revenue declines. Personal and sales taxes are likely to rise and services decline in the foreseeable future. Here is just one article.

https://www.globest.com/2022/12/01/cre-firms-collapsing-office-values-threat-to-dcs-fiscal-health/

MD also gives you in state college options.

Thank you. And the crime in DC was concerning me even before it became a "crime wave". The pendulum will swing, but the effects will linger a while. I'm a DC native and have lived that... Have been alarmed by the CRE too.

I am guessing there could be some things afoot in MD that parallel DC? We are already trying to recall some politicians here. I don't want to relive a decline in MoCo that I've just lived/am living in DC - do you see that in the future, or are things irritating at times but politically going in a stable direction (mostly thinking crime and CRE). -OP

[Anonymous]

Order of operations: (1) you like the house and (2) you minimize commute, imho.

Traffic is now worse in close-in MD than in DC. I have to drive to downtown Bethesda once per week and it's so much worse than traffic in downtown DC.

That said, I fully expect DC to raise residential property and sales taxes to make up for the shortfall in CRE taxes.

I think the value proposition for homes that feed to MacArthur HS in DC is very good. By the time my kids go there in a decade, it's going to be an incredible small HS with the best teachers and a smart student body.

We have friends with kids in the W high schools in MD + feeder schools and they complain so much about how the schools are over-crowded. It's a lot worse than DC. I think there's also an college admissions edge for kids who graduate from DC schools.

[Anonymous]

Anonymous wrote:DC.

Also very much depends which neighborhood in DC and which in MD. Your definition is broad.

If you can afford Cleveland/Woodley Park, there’s no comparison

We can. We are in a fortunate position right now that we can afford those neighborhoods and what we see as equivalent neighborhoods in MD - Kenwood, Edgemoor, Chevy Chase. There's not t a.lot of inventory, but we can basically pick the neighborhood. It would be a big investment, don't get me wrong, but one we would do based on where we are in life right now (we are middle aged and like to pretty much chill out with access to stuff, but not on top of us) , kids, and amenities.

[Anonymous]

Anonymous wrote:Order of operations: (1) you like the house and (2) you minimize commute, imho.

Traffic is now worse in close-in MD than in DC. I have to drive to downtown Bethesda once per week and it's so much worse than traffic in downtown DC.

That said, I fully expect DC to raise residential property and sales taxes to make up for the shortfall in CRE taxes.

I think the value proposition for homes that feed to MacArthur HS in DC is very good. By the time my kids go there in a decade, it's going to be an incredible small HS with the best teachers and a smart student body.

We have friends with kids in the W high schools in MD + feeder schools and they complain so much about how the schools are over-crowded. It's a lot worse than DC. I think there's also an college admissions edge for kids who graduate from DC schools.

Yes, I agree with you that the Hardy/MacArthur is going to be a really good combo. Our kid is in private school, but I - like anyone- am interested in education and value being in a "good school district". I also like that it draws families. You are correct that MacArthur is going to be a little gem I think.
That being said, the neighborhood in DC we are looking at trends a little older. Maryland feels more "family-ish" for want of better words. Our current neighborhood in DC is very family ish, and we do like the evident mix of young, middle aged, elderly.

[Anonymous]

Anonymous wrote:[twitter]

Anonymous wrote:MD is the way to go here, OP.

DC is facing extremely difficult financial times, with CRE imploding and huge revenue declines. Personal and sales taxes are likely to rise and services decline in the foreseeable future. Here is just one article.

https://www.globest.com/2022/12/01/cre-firms-collapsing-office-values-threat-to-dcs-fiscal-health/

MD also gives you in state college options.

The people in the fancy neighborhoods aren’t stressed about college.

Ha! We are pretty open-minded to college and UMD has some great programs. DC has the opportunity scholarship, but can't remember if there is an income cap. I would say it's true this is not a big factor for us though, but it isn't bad to consider.