Stretch for the rowhouse. A PK spot at your inboundary school isn't guaranteed, but there are many PK options beside your inboundary school. Free PK means your childcare costs will go way down as soon as your child gets in.

Stretch. No contest.

About 15 years ago we were in the exact same situation. We wanted a rowhouse but prices were escalating so fast. We looked at condos and for a short minute thought maybe that was a viable option. We finally found a house; smaller than we intended and in an up and coming neighborhood. It was a stretch. We paid as uch s we could but not a dollar more. No vacations for a few years and no eating out except for special occasions. Best decision we ever made.

Stretch for the rowhouse. A PK spot at your inboundary school, but there are many PK options beside your inboundary school. Free PK means your childcare costs will go way down as soon as your child gets in.

Anonymous wrote:

Anonymous wrote:Op here — our income is 235k now. Partner is lawyer so has more income potential than I. We have just over 200k saved.

For the down payment or overall for retirement?

OP here - for downpayment. One of us maxes out 401k, the another nearly maxed out.

Anonymous wrote:Op here — our income is 235k now. Partner is lawyer so has more income potential than I. We have just over 200k saved.

For the down payment or overall for retirement?

Op here — our income is 235k now. Partner is lawyer so has more income potential than I. We have just over 200k saved.

You asked if you should "stretch" to buy a rowhouse and gave no details on your income or financial situation. Whenever someone uses the word "stretch" I tend to think it's a bad idea.

While even though your income might not go up, right now you're likely saving a huge percentage for the downpayment. Once you get over the hump of the downpayment, it's much easier to just make payments.

Regarding the Pre-K, better school districts are harder to get spots in. You're not guaranteed a neighborhood school for 3 or 4 year olds.

Op here — can you elaborate on the pre-K point?

We don’t have a car so want to stay close to metro/good transit. Ideally in Petworth/Columbia Heights/park view areas.

I think it depends: if you do condo, will you be in a neighborhood you prefer for schools and thus want to stay in longer (noting that in DC places with higher-regarded schools have a lower chance of you getting a PK space)? Do you like DIY or will you be happy not to have to deal with roof, gutters, windows, landscaping, etc. while you are also dealing with young children? Is there any chance you can find a 3br condo you like, for example https://www.redfin.com/DC/Washington/3930-Connecticut-Ave-NW-20008/unit-501H/home/145670981 (a coop, so the fee includes utilities and taxes) or https://www.redfin.com/DC/Washington/4201-Cathedral-Ave-NW-20016/unit-405E/home/9951663 (I do think the fee here is ridiculous and the unit should be cheaper given that)?

There's a house on Primrose St. in Shepherd Park that if you can nab it would also be good and in your price range, but I wouldn't rule out a condo if that works better for you.

Stretch! HOA of condo is just wasted money.

Anonymous wrote:Go with the rowhouse, especially since you want to have kids in the near future. It will also appreciate more and no HOA.

Op here — would you stretch your budget for a rowhouse? We’re in our early thirties so our HHI should rise but there’s always some risk. And childcare costs so much.

Stretch. That HOA will eat too much of your money. My HOA was $500 a month and for $500 a month more I could have spent another 100k.

Go with the rowhouse, especially since you want to have kids in the near future. It will also appreciate more and no HOA.

Looking to buy first place in NW DC. Currently rent a 1 BDR, and partner and I want to start family soon. We’d been wanting to buy a rowhouse but it’s been so competitive lately. Condos are having a tough time selling now, so possible to get an equivalent square footage as a house for less money (assuming HOA fees are reasonable). We can pay up to 850k or so for a house. The question is: would you buy a condo for up to 750k (2 bed/2 bath) now or try to get a house for 850k? We’d do public school when the time comes and we hate moving, so ideally we’d stay as long as possible in these places (so the condo would be tight if our eventual plan to have 2 kids comes to fruition.)

My preference was a house but we’ve lost multiple offers now, and I’m worried we’re priced out.