Reply to Please help us find our new DC home!

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[quote=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.

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