Reply to Why does the Watergate attract such a premium?

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[quote=Anonymous]I had a friend that lived in the Watergate.

Pros - large floorpans, interesting interior architecture like huge curved wrap around windows, some units with second floors, high ceilings and lots of storage. Great pool that is always empty, view of the fireworks, city or river views are amazing, close to the Kennedy Center. Not sure if its still under there but all you had to do was take an elevator down and you are at Safeway, CVS, Wine store, dry cleaner, 2-3 restaurants, access to the indoor pool and gym at the hotel, and right in front of the running trails down to the monuments and bridges. Great for waking to work if you worked downtown or taking the metro to the hill.

Cons - filled with crazy old people, bad maintenance, lots of leaks that owners couldn't control, restrictive work hours and difficult to remodel.

Financially co-ops are better for people with high income and lower assets. The purchase prices are lower but the co- op dues are much higher than a condo. The WG has ridiculous debt to income requirements too so you have to make a lot or being buying your unit in cash so you have no mortgage debt. [/quote]

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