Reply to Is it worth it to buy at the Watergate?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I am considering it as well. The west side of it seems quite close to Georgetown — you can cross on Virginia avenue where there is a traffic light and then it’s a ten minute walk to the heart of Georgetown and the waterfront park. It is also an easy walk to my work.

Some things giving me hesitation, besides a number already mentioned, are 1) the schools it is zoned for suck - the senior citizens there don’t care but I’m much younger and do have kids, and 2) flood risk is rated as extremely high which makes sense.

But just in terms of size and location it’s a bargain for a condo/co-op in DC, even with the fee. But assessments are a concern[/quote]

How is it a bargain? You get a spacious 2 bed 2 bath for $750k (good price) but then you pay $2,395/mo in pure HOA fees, taking your total monthly payment to north of $6,000. And on top of that your HOA fees will keep rising and you’ll be hit with occasional special assessments. Aren’t there better options for ~$6,500/mo?[/quote]

A one bedroom is as cheap as 400k. In a luxury coop with tons of amenities the truck is they usually charge maint by square feet. Other factors in my building was floor and if you had a balcony.

My friend in Manhattan in a super luxury coop with very high common charges and amazing amenities him and wife bought smallest unit in building in ground level in back which is lowest maint fee in building.

They use pool, gym, library, party room, door man, valet, huge common areas, roof top BBQ basically they have people over and enjoy the luxury common areas. [/quote]

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