Reply to Is buying in Brookland a good investment?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If prices are this high where updated are needed throughout the house, I’m not too sure.

https://redf.in/NQWDK0[/quote]

That is quite expensive for that area I am thinking. Really not sure why someone would opt to pay 825k for that TH which a) needs quite a bit of work and b) is in Brookland (fairly crappy area and def not that safe ) rather than opting to pay around the same in N Arlington or near Georgetown ([b]there are THs currently for sale near Georgetown U for around 900k[/b], and also in N Arlington for around that same price). Given its price, the amount of work that needs, plus the area, willing to bet this one is gonna stay on the market for a while.

Similar argument goes towards that one that someone posted on Chancellors Way (the TH looks nice enough, minus the lack of backyard which granted nowadays is very common with THs) but why would someone opt to pay 920k to get a TH there, versus getting one in Georgetown, N Arlington, Wesley Heights or frankly anywhere that is much nicer and safer than Brookland, boggles my mind. I get buying there due to affordability reasons (say can only afford 500k) but once we hit the 900k mark, makes 0 sense in my view given you can live in other areas of the DMV that are nicer. 
[/quote]

Show me one Georgetown TH for around $900,000. Just one.[/quote]

Here are two near Georgetown U that are currently on the market (to be fair closer to 1m than 900k) but still, much rather live in one of those and in that area for only like 80k more than Brookland. Both are 3br. 
https://redf.in/4mrs9Q
https://redf.in/dTAUfe

Here is one that sold a month ago for 970k https://redf.in/hnpyB0

Here is one in N Arlington for 850k (almost same price as that one listing someone showed in Brookland). Needs work imo but less so than the one in Brookland. But still a little overpriced (which shows by fact that it's been on market for a bit) https://redf.in/RA7xOt
[/quote]

$1 million isn't $900,000, which is what you claimed. The first "Georgetown" listing you provide isn't a townhouse but two apartments in one unit. The second one is a shoebox on a busy road. [/quote]

I said around 900k which leaves a lot to interpretation, in my view 900k and 999k count as that but fair that's closer to a 1m.

Furthermore let's compare that second listing for 999k vs the 920k brookland listing. The brookland one is around 200sq feet more according to listing (frankly don't trust listing Sq ft since they are constantly fudged by realtors but it is what it is). So by your definition both are shoeboxes effectively.

The other thing is, the Georgetown house has no HOA while the Brookland th does have an HOA, and when you consider that, the monthly difference in PITI is merely 500. Again, frankly, where would you want to live given you are spending that much, near Georgetown where it is nice, close to plenty of shops, has good schools, and is safe...or Brookland.

Again I get living there for affordability reasons, but when pricing around 900ishk budget, then it just makes no sense to opt for there. [/quote]

Brookland and Georgetown are VERY different neighborhoods and not because one is safer than the other. Let's be honest, I am sure Georgetown residents get targeted just as much as Brookland residents. You say Georgetown like it's the most amazing place. It's nice, but you also have to deal with lots of traffic and you just can't run into a place. It's a hassle. [/quote]

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