Starter home with newborn (DC)

[Anonymous]

We have a newborn and are looking for a starter home/condo ($500k-ish) in a close-in 'hood. My question is, since we're looking at roughly 800 sq ft, is it even worth worrying about the school at this point, especially since DCPS doesn't guarantee neighborhood pre-k? If we're planning to move in 5 or so years for more space (but really want to stay in DC and use a walkable public school), we'll have to play the lotter and commute in any neighborhood until kindergarten anyway, right? Or do I not have a good understanding of the system?

[Anonymous]

Anonymous wrote:We have a newborn and are looking for a starter home/condo ($500k-ish) in a close-in 'hood. My question is, since we're looking at roughly 800 sq ft, is it even worth worrying about the school at this point, especially since DCPS doesn't guarantee neighborhood pre-k? If we're planning to move in 5 or so years for more space (but really want to stay in DC and use a walkable public school), we'll have to play the lotter and commute in any neighborhood until kindergarten anyway, right? Or do I not have a good understanding of the system?

I think your assumption is correct. However you are gambling on your capability to buy a better house in a better neighborhood in 5 years. I don't think that's a good idea. I think it would be better to worry about the neighborhood at this point, and pick a place you can live for a long time.

Your plan was my plan 6 years ago when I bought MY starter condo. My neighborhood was already a decent one, and it got better (Mt Pleasant) for sure, our HHI has increased, and we certainly have a lot of equity... I've been wanting for awhile to get into a bigger condo or rowhouse, but it doesn't matter now - we are priced out of everything we can afford!

[Anonymous]

Anonymous wrote:I think your assumption is correct. However you are gambling on your capability to buy a better house in a better neighborhood in 5 years. I don't think that's a good idea. I think it would be better to worry about the neighborhood at this point, and pick a place you can live for a long time.

Unless you know your financial situation will improve pretty significantly in the next five years, I think this is good advice. Transaction costs are a big deal.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think your assumption is correct. However you are gambling on your capability to buy a better house in a better neighborhood in 5 years. I don't think that's a good idea. I think it would be better to worry about the neighborhood at this point, and pick a place you can live for a long time.

Unless you know your financial situation will improve pretty significantly in the next five years, I think this is good advice. Transaction costs are a big deal.

+1. We are in our starter 2br condo in a desirable neighborhood. Pretty sure we're going to have to leave the area entirely just to get a 3br in a good school district.

[Anonymous]

We bought in Eckington 5 years ago with the same theory. Turns out the school has improved so we're able to stay put through K at least. I'm glad we bought a house just barely big enough for two young kids so that we don't feel we have to move for space. I think we could flip it into something in a better school district, but we would likely buy an even smaller place.

I do think your understanding of the school situation is a little off. Let me try to explain how I see it. You must play the lottery for PK3 and PK4, because there is no automatic admission for in-boundary kids. However, at a lot of neighborhood schools, in-boundary kids almost always get in for PK3 and PK4. So, do not assume that you'll have to commute. Of course, it may be harder to get in by the time your baby is of age, but still I think with the in-boundary preference you would stand a good chance.

Tell us what areas you're considering and we can help you more. Perhaps the southern part of Edgewood or a condo in Eckington would meet your needs.

[Anonymous]

Condos are always bad investments.

[Anonymous]

OP here. Thanks for the responses, which address a definite concern of ours about not being to move, financially, by 1st grade. We're looking at Columbia Heights, AdMo (Woodly), Mt P, the Hill and between those. NoMa maybe too?

[Anonymous]

Why would someone ever pay $500,000 for 800 square feet?

[Anonymous]

Columbia Heights and Admo are not in a great district so I guess I am confused. Are you planning on going charter?

[Anonymous]

You should read some old threads for the school zones you are considering to get up to speed. Good luck! Do heed the advice that 5 years goes by quickly unless you will have a demonstrative increase in income.

[Anonymous]

What PP said about schools. There are a few schools where you *might* not get a spot at pre-K in your in-bounds school (Janney, for example, I think). But those are the minority. Not sure what your odds are at Oyster in-bounds for English-dominant families (Oyster's model is dual language, so it keeps separate admission lists for English- and Spanish-dominant families, so that the population of kids fits the model of instruction).

Also be aware that schools west of the park do not have preK 3 at this time, only preK 4 (although this may change).

Also, unless my property values have increased significantly, you can get a bit more than 800sq ft for 500K. Older buildings have larger apartments for that sort of money -- the 1100 sq ft one-bedrooms in my building don't break 500K.

[Anonymous]

Anonymous wrote:OP here. Thanks for the responses, which address a definite concern of ours about not being to move, financially, by 1st grade. We're looking at Columbia Heights, AdMo (Woodly), Mt P, the Hill and between those. NoMa maybe too?

Those are pretty pricey neighborhoods for $500K. And yes, 5 years goes by really fast. I definitely would not count on having enough appreciation to move to a bigger place that is also in a better school district, unless you're willing to leave the city.

I think you definitely need to broaden your neighborhood options if you're going to find something in your price range. If you like Columbia Heights, may I suggest Park View? The school is Bruce-Monroe and it's definitely moving in a good direction.

[Anonymous]

OP, I would hold off on buying unless you can buy at least a 2 bedroom, regardless of square footage.

[Anonymous]

Anonymous wrote:OP, I would hold off on buying unless you can buy at least a 2 bedroom, regardless of square footage.

+1. OP, are you planning on a second child in the next five years?

I just don't think five years is enough time to count on getting a bigger place with a good school, unless you have a specific reason to believe your income will increase. I would encourage you to buy a place that you are content to live in for at least 7 years, and even then I think it'll be a struggle to trade up.

It's just very, very hard to save enough money when you are paying for childcare, if your second house is going to be substantially more expensive. If you don't need to move right now, maybe do a year of super-intense saving while you look for a place. Neighborhoods around here tend to contain many similar properties, so once you zero in on certain neighborhoods you can wait a bit and see what comes up. The winter is a good time to buy!

[Anonymous]

OP, wait. We got a 900 square foot 3 bedroom house and I really regret it. For the first few baby years, it was great. Kid could not go very far and easy to supervise. Now kid is older and the toys are everywhere and very little space for anything or anyone. One bathroom sucks. We are lucky to have a basement to gain some space but if I had to do it over again, I'd do at least 1800-2500 square feet and move further out if we had to.