That used to work out a lot better in the past, or if you bought before kids or when they were babies. If OP buys in Capitol Hill now, she will pay top dollar IB for any of those three schools and might not break even (much less make a profit) when she has to sell in four years when her second grader needs a good middle school. So I would definitely be prepared to go private after elementary if you choose the Hill. |
Wait, what? Hill real estate is appreciating at crazy rates. My house has appreciated almost 50% in 6 years in one of those IBs and last year was actually the second highest estimated growth rate of the six. Virtually no chance she'd lose money on a 4 year buy. Alternatively, she could always rent if she wanted to; Brent IB actually has a fair amount of rental property because people bought 20 years ago, have now moved/retired and make a killing off of renting out those houses. She talked about renting for a few years in NW... she could always do the same on the Hill. Look, I am not suggesting she's going to be comfortable w/ Jefferson or E-H or S-H in 4 years (depending on which IB she chooses); I doubt I will be and nothing in her original post suggests she will. But she has a decent shot of lotterying into Latin or BASIS (especially the latter), which she might be happy with. She may decide she'd pay for CHDS or St. Peter's middle school for her oldest and worry about another move for HS for that kid/MS for her younger ones. Maybe her job will change. Basically, a lot can happen in 4 years and, given all of her preferences and the fact that *she can always 100% move IB for Deal and be fine at any time*, I'd move into Brent or Maury and have a sweet commute and basically all of my other preferences met (diverse, walkable, fun neighborhoods that are real communities... and she already said she likes the Hill). |
I'm not one of those who think there will be a market crash, but I wouldn't take the gamble that this will continue at this rate for the next six years. |
DP, I don't think there will be a market crash, but I also don't think one can bet on that same early gentrification-era rate of appreciation in the future. I think appreciation will still be healthy in many trendy/hot EOTP neighborhoods, but it'll slow relative to past years. I wouldn't want to be left holding the bag in 3-4 years when OP needs middle school. -an EOTP homeowner |
I'm not suggesting she speculate in real estate for profit-seeking reasons, but I think you need to have a seriously pessimistic view of the market to think Capitol Hill housing prices in solid IBs are going to stagnate to the extent that she will lose a significant amount if she holds a house for at least 3 years. Also, keep in mind that she is willing to rent, so really she has to lose more than renting a big house for 1-2 of those years to end up worse off. There is virtually no chance. |
Here's a house in Cleveland Park, inbounds for Eaton. Adjacent to Woodley Park, also very easy to get to Rock Creek Park in order to commute to Southeast. Another great area. https://www.redfin.com/DC/Washington/3401-Lowell-St-NW-20016/home/9985782 |
A better one! https://www.redfin.com/DC/Washington/3049-Porter-St-NW-20008/home/9984316 |
| OP, I’d suggest Takoma Park to SE isn’t a bad commute or Hyattsville, MD to SE. A friend of mine is a principal in SE DC and commutes in from Hyattsville, MD. She says the commute is easy breezy. |
OP wants good schools, so Hyattsville is a non starter. Takoma Park is great though. |
| Shepherd Park is also right on Rock Creek Parkway. I travel to CH and it’s oretty easy in the morning with RCP open southbound in morning and north in evening. I’d still buy IB for Deal. Or rent in CH with plan to buy later in Deal. Who knows by then your worksite may change. |
Didn't a PP above say Shepherd Park to SE takes them an hour? |
I’m the PP. I asked my spouse again about commute time—they said it can be 45 min or less if leaving before 8am, and if heading home before 3pm. Otherwise, it can be an hour if Prime rush hour. It may also depend where exactly in Wards 7/8 OP is commuting to. |
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As a Capitol hill resident for 16 years I can vouch for it. Our kids attended Brent, our IB school and are now at Latin.
Most kids that attended Brent at 4th grade have stayed in the neighborhood for middle and high school. Mix of public and charter and private. But they have maintained friendships that were established in elementary school, even where they attend different schools. honestly I don't think any neighborhood is better to raise a family-- and to stay after they leave. I'm certainly looking forward to retiring on Capitol Hill, although that is many years away.
The only reason I hesitate to recommend Capitol Hill is because it is becoming outrageously expensive. But I really hope you can find a home that won't break your budget! |
| Sounds peachy but few Brent 4th graders are getting into Latin these days, BASIS isn't for every family, Jefferson Academy will appeal to few, and private schools are out of reach for many (OP has four children!). Upper NW has its advantages over the Hill. |
OP Here: Thank you everyone for all of your advice. I really appreciate it. Capital Hill definitely has the most similar vibe to where we live now. If we are very lucky with our house sale we might have a bit more wiggle room with budget. Private school for our four kids is definitely out of the question I think. I'm writing down all of your suggestions! Thank you
When you say Takoma Park, do you mean Takoma Park, MD? |