Please help us find our new DC home!
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
We rented in Glover Park with young kids, and it was a great place to be. Lots of families, walkable to groceries, parks, and woods. |
Anonymous
This is actually a really good suggestion. If I were buying something in your price range, I think this is the way I'd go. You get a good amount of space for your money (probably a good amount more than you'd find in a condo), there are lots of young families with SAHMs, you have access to their pool and are close to parks, are in one of the best DC school districts. If for some reason you couldn't sell it in 2-3 years, these units get high rental amounts, so you would have that option. My second choice would be McLean Gardens, which is very similar. Many of the other areas mentioned (Columbia Heights, Mt. Pleasant, Capitol Hill) can be dicey as far as crime goes. |
Anonymous
|
come on people!!! There's NO WAY that the OP is going to make $75--100K (the cost of buying and selling a DC home worth $500-700K in the next 2-3 years. NO WAY, NO HOW.
I wish it were true, I DO. All of those who are DC homeowners do. If that was the rate of return, I'd make $200K on my 1 million dollar AU Park home. Bring on the $$! I've made squat over the past 4 years but suddenly my house is going to appreciate by leaps and bounds over the next 2 years? If this is the rate of appreciation then by golly, let me go buy a second home tomorrow. I doubt if the OP is only here for 2 years that she's intending to buy a fixer upper. By the time she fixed it up, it would be time to sell. And everyone I know who is investing $$ into renovations these days is breaking even on the $$ they invested when they go to sell--NOT turning a giant profit. The only way I see this being remotely savvy is if the OP intends to rent the property (likely for YEARS) after potentially leaving the area. |
Anonymous
|
OP again. Thanks for the suggestions everyone. To clarify a few things, I am not against doing work on a condo/townhome. I'm actually an Interior Designer. Also, there's a good chance we will stay in DC for longer than 2-3 years. I am thinking of all the possibilities and I want to make as good of an investment as possible in case we do end up moving. I completely understand that buying real estate of any kind is a risk!
I'm going to look online and try to find options in Glover Park and Sutton Place. |
Anonymous
| Absolutely love Adams Morgan/kalorama triangle! |
Anonymous
I would not consider either of those neighborhoods "walkable" |
Anonymous
| Glover park is absolutely walk able. Whole foods, wsc, cvs, tons and tons of restaurants right on Wisconsin. I think the bigger issue is no metro stop. |
Anonymous
| Of course Glover Park is walkable! That's part of its appeal. |
Anonymous
|
RENT
OP, in case you haven't heard there is a GLUT of new condos in the DC market right now, the feds are cutting jobs by 10-20% and its not looking good. You will absolutely lose money if you have to sell in 2-3 years. |
Anonymous
Even if you stay in DC for longer the schools are piss poor. You home has no value to you then unless you can afford private tuition at $30,000 per year per kid. Think about it OP, its really not a good decision. --Signed wish I hadn't bought my condo in 2006 |
Anonymous
Actually now that I think about it losing money is probably the last concern, its having to sink $100,000 into a property after the 20% down you already put into in order to be able to sell it and move. In other words a net loss of somewhere around $200,000. That or rent it out for only a partial mortgage payment and have to stress about finding a new renter every year. Pretty much the worst investment you could ever make. |
Anonymous
Closest Metro is not FH... it's Tenleytown. If you walk to the Wisconsin Avenue shops, the Tenleytown Metro is right there. |
Anonymous
FYI You can hop on the American U shuttle (runs every 10 mins) to get to the Tenleytown Metro. It's free and they NEVER check ID. |