First time homebuyer: lower-price condo or stretch for rowhouse in DC?

[Anonymous]

Do you have to be in NW DC? You could go just across the bridge to Arlington / Rosslyn.

$795k, walkable to metro, and other stores etc: https://www.realtor.com/realestateandhomes-detail/2101-N-Rolfe-St-Apt-D_Arlington_VA_22209_M62094-16981

Or this one, $849k but been on the market for a while so you might get it cheaper: https://www.realtor.com/realestateandhomes-detail/2519-Washington-Blvd_Arlington_VA_22201_M68359-13113

[Anonymous]

Op here - yes, we’re set on NW DC.

[Anonymous]

Never buy a condo unless you have to. You don’t have to.

[Anonymous]

Anonymous wrote:Op here - yes, we’re set on NW DC.

Try Brightwood, just north of Petworth. Still in NW DC, walkable to Takoma metro or take the Georgia ave express bus, excellent pre-K, Whittier Elem has a greatschools rating of 8, and you can get a rowhome for 650K. Walkable to a large indoor pool, 2 excellent playgrounds, rock creek park, restaurants, Safeway, etc., and a Whole Foods under way.

[Anonymous]

We stretched for our first purchase - a row house in NW (with an eye on starting a family). We were looking between close-in NoVa and NW DC. But we never really liked the townhouse communities in NoVa - even though places were a bit cheaper (but not that much).

The only problem, everyone else seemed to have the same idea. We got into a half dozen bidding wars; continually losing. But we eventually got a place in Wilson High catchment area so we wouldn't worry about schools. (the differences are TINY between all the elementary schools in the area)

It was worth it in every sense. We spent about 25% more than a similar condo. Now we do share walls, but haven't had issues with sound or neighbors. We don't have a HOA, but do keep in mind that fixer uppers to require either time or money. With COVID, I've been doing more of the minor fixes, but these costs can add up. Pre-covid, between either capital costs (new fridge/water heater/etc) and minor stuff (gutter cleaning, etc) - we were spending about 5K/year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Op here - yes, we’re set on NW DC.

Try Brightwood, just north of Petworth. Still in NW DC, walkable to Takoma metro or take the Georgia ave express bus, excellent pre-K, Whittier Elem has a greatschools rating of 8, and you can get a rowhome for 650K. Walkable to a large indoor pool, 2 excellent playgrounds, rock creek park, restaurants, Safeway, etc., and a Whole Foods under way.

Problem with Brightwood is there isn't much inventory, but if you can be patient, it is a great neighborhood and an excellent investment. Here are some examples of recently sold homes in Brightwood that might fit your criteria:
https://www.redfin.com/DC/Washington/819-Sheridan-St-NW-20011/home/10038467
https://www.redfin.com/DC/Washington/6426-7th-St-NW-20012/home/10053284

[Anonymous]

Anonymous wrote:I think it depends: if you do condo, will you be in a neighborhood you prefer for schools and thus want to stay in longer (noting that in DC places with higher-regarded schools have a lower chance of you getting a PK space)? Do you like DIY or will you be happy not to have to deal with roof, gutters, windows, landscaping, etc. while you are also dealing with young children? Is there any chance you can find a 3br condo you like, for example https://www.redfin.com/DC/Washington/3930-Connecticut-Ave-NW-20008/unit-501H/home/145670981 (a coop, so the fee includes utilities and taxes) or https://www.redfin.com/DC/Washington/4201-Cathedral-Ave-NW-20016/unit-405E/home/9951663 (I do think the fee here is ridiculous and the unit should be cheaper given that)?

There's a house on Primrose St. in Shepherd Park that if you can nab it would also be good and in your price range, but I wouldn't rule out a condo if that works better for you.

Please don't recommend 4201 Cathedral Avenue.

[Anonymous]

Look in Columbia Heights/PLeasant Plaines and Petworth

[Anonymous]

You can definitely find a rowhome in my neighborhood (20011) for that budget and even less.

[Anonymous]

Stretch. We did. And then our income increased by 50% over the next three years.

[Anonymous]

Stretching is a problem if you are planning to have kids because childcare is extremely expensive. You can defer other savings for a few years, like 401k, but if something is hard to afford now and your salary doesn't go up then you are screwing yourselves. Prek is great if you get in and helps a lot. But if you want to stay the charter school lotto is a pain. It works out for some but people sometimes have to move. And there is a growing interest in charters.

[Anonymous]

Stretch.
interest rates are crazy low. The longer you can stay in your new place, the longer you will benefit from the low mortgage rate you are going to get.

[Anonymous]

Anonymous wrote:Op here — our income is 235k now. Partner is lawyer so has more income potential than I. We have just over 200k saved.

Early 30s lawyers? So is he on cusp of making partner or something? You income seems low for senior associate so unclear where you think lawyer salary bump will come from?

[Anonymous]

Anonymous wrote:I think it depends: if you do condo, will you be in a neighborhood you prefer for schools and thus want to stay in longer (noting that in DC places with higher-regarded schools have a lower chance of you getting a PK space)? Do you like DIY or will you be happy not to have to deal with roof, gutters, windows, landscaping, etc. while you are also dealing with young children? Is there any chance you can find a 3br condo you like, for example https://www.redfin.com/DC/Washington/3930-Connecticut-Ave-NW-20008/unit-501H/home/145670981 (a coop, so the fee includes utilities and taxes) or https://www.redfin.com/DC/Washington/4201-Cathedral-Ave-NW-20016/unit-405E/home/9951663 (I do think the fee here is ridiculous and the unit should be cheaper given that)?

[/b]There's a house on Primrose St. in Shepherd Park that if you can nab it would also be good and in your price range, but I wouldn't rule out a condo if that works better for you.[b]

That house is priced for a bidding war. It will sell for 950. White people have discovered SP and are driving prices up, thanks to all the shilling the neighborhood gets on DCUM.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Op here — our income is 235k now. Partner is lawyer so has more income potential than I. We have just over 200k saved.

Early 30s lawyers? So is he on cusp of making partner or something? You income seems low for senior associate so unclear where you think lawyer salary bump will come from?

Clerking.