Anonymous
02/22/2024 18:06
Subject: Better investment - fancy neighborhood in DC or MD?
Anonymous wrote:Tell us why you wrote off Virginia please
OK, walkability and school tracks we are already in, and existing friend circles I guess-- we are rooted in NW DC or MoCo. Virginia is great, but we wouldn't have that exact combo there
. If we were starting our lives I for sure would look at Virginia. I am totally open to anyone who wants to chime in on the investment value of DC, or MD, or VA of the kind of home I described.
Anonymous
02/22/2024 18:03
Subject: Better investment - fancy neighborhood in DC or MD?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Imagine having enough money to buy in Upper NW and quibbling over a few percentage points over decades/ What a miserable way to live your life. Buy the house you like best and shut up.
We haven't had it easy and I feel an obligation to my kids to make a wise decision from an investment point of view, as well as what I would like for now for me. I'm guessing a lot of people weigh that.
You are trying to play fortune teller. Who knows what will be desirable by the time you want to sell or retire, but the fact you can purchase in any of these places makes you incredibly fortunate. Maybe look at 10-20 years back and see the prices of each area to get an idea of if they kept their value. Many people "haven't had it easy" and still can't buy in any of these places!
Any of those areas are desirable and probably will stay that way, but who knows? Look at SF and Oakland! Many people I know who lived/ worked there have fled, especially those with kids. DC needs to fix the crime problems, big time. I have friends who wanted to move to Capital Hill, but now are looking elsewhere because of the crime and Maury/Miner discussions.
That being said I would try and buy somewhere that didn't have a ton of cheap new builds. I think many of them are tacky and who knows what new materials will be the new lead and asbestos in the future. No thanks.
Doesn't mean you shouldn't buy where new custom homes are being built, or ones that are clearly not being done by flippers. I only say this as it sounds like you have a nice budget. Not everyone is afforded that luxury, because that is what it is, a luxury.
Spend time in the neighborhoods, talk to neighbors, go to restaurants and shops around.
I hear you. I like your idea of looking back historically, but I also have never seen this amount of flux. It's almost like everything feels topsy turvy PLUS a weird housing market. I am very aware of what happened in SF.... that's really stuck in my brain. I've seen DC rise - horrible to see it "freefall" in terms of crime and CRE. It might be arrested with some policy changes, who knows. Definitely trying to avoid buying into that anywhere it's evident it's "about to happen"- like early days of the SF disaster in making. I think both neighborhoods are pretty well insulated, but I appreciate all the perspectives. Especially if anyone sees that coming in MoCo.
It may seem like a few percentage points, but I know a lot of people who sold their DC homes and "can't buy back in". I am guessing the MD homes we are looking at we could do that... Some of this is probably irrational.
Fortunate? Yes, it's a good feeling. We haven't always had much luck, which is a different thing. I'm hopeful!
Crime aside, it looks like you're asking whether MD has any economic issues that are bubbling to the surface on the scale of CRE that could tank MD's economy and house prices. I think the answer is no, not really. There are always fights over tax and spending priorities. But nothing we know of (at least, yet) like the #2 commercial lessee backing out of a lease early, taking a huge amount of tax revenue with it.
Thank you. This is exactly the kind of thing I'm asking. I know DC like my own hand, the history, the trends, the people, the neighborhoods, the local traditions (not just in NWtopia, I've been around).... It's bit daunting to bet a lot of money on an unknown element...I'm a newbie. We get up the road sure, but it's not like being from a place.
I have seen a few things on the "Metropolitan Local Politics Page" about concerns people have with MoCo, but nothing on the scale of DC proper. I appreciate that you think the answer is no... (I assume by #2 commercial lessee you are referring to all the real estate backing out in DC right now and the ripple effect)
Anonymous
02/22/2024 17:20
Subject: Better investment - fancy neighborhood in DC or MD?
Tell us why you wrote off Virginia please
Anonymous
02/22/2024 17:05
Subject: Better investment - fancy neighborhood in DC or MD?
If you can afford to move into any of the neighborhoods being mentioned here, the cost of college probably doesn't matter (in other words, you can safely ignore the people blathering on about in-state tuitions). Just find the house you like the best that fits your life the best. The differences are negligible.
Anonymous
02/22/2024 16:07
Subject: Better investment - fancy neighborhood in DC or MD?
Close in MD has just as good appreciation as NW DC, you might argue more because as private school gets more costly every year, being zoned to a W school or BCC is better than the DC high schools (in perception). People will want to move to MOCO for the schools. Although who knows how long that reputation will last
Anonymous
02/22/2024 15:11
Subject: Better investment - fancy neighborhood in DC or MD?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Imagine having enough money to buy in Upper NW and quibbling over a few percentage points over decades/ What a miserable way to live your life. Buy the house you like best and shut up.
We haven't had it easy and I feel an obligation to my kids to make a wise decision from an investment point of view, as well as what I would like for now for me. I'm guessing a lot of people weigh that.
You are trying to play fortune teller. Who knows what will be desirable by the time you want to sell or retire, but the fact you can purchase in any of these places makes you incredibly fortunate. Maybe look at 10-20 years back and see the prices of each area to get an idea of if they kept their value. Many people "haven't had it easy" and still can't buy in any of these places!
Any of those areas are desirable and probably will stay that way, but who knows? Look at SF and Oakland! Many people I know who lived/ worked there have fled, especially those with kids. DC needs to fix the crime problems, big time. I have friends who wanted to move to Capital Hill, but now are looking elsewhere because of the crime and Maury/Miner discussions.
That being said I would try and buy somewhere that didn't have a ton of cheap new builds. I think many of them are tacky and who knows what new materials will be the new lead and asbestos in the future. No thanks.
Doesn't mean you shouldn't buy where new custom homes are being built, or ones that are clearly not being done by flippers. I only say this as it sounds like you have a nice budget. Not everyone is afforded that luxury, because that is what it is, a luxury.
Spend time in the neighborhoods, talk to neighbors, go to restaurants and shops around.
I hear you. I like your idea of looking back historically, but I also have never seen this amount of flux. It's almost like everything feels topsy turvy PLUS a weird housing market. I am very aware of what happened in SF.... that's really stuck in my brain. I've seen DC rise - horrible to see it "freefall" in terms of crime and CRE. It might be arrested with some policy changes, who knows. Definitely trying to avoid buying into that anywhere it's evident it's "about to happen"- like early days of the SF disaster in making. I think both neighborhoods are pretty well insulated, but I appreciate all the perspectives. Especially if anyone sees that coming in MoCo.
It may seem like a few percentage points, but I know a lot of people who sold their DC homes and "can't buy back in". I am guessing the MD homes we are looking at we could do that... Some of this is probably irrational.
Fortunate? Yes, it's a good feeling. We haven't always had much luck, which is a different thing. I'm hopeful!
Crime aside, it looks like you're asking whether MD has any economic issues that are bubbling to the surface on the scale of CRE that could tank MD's economy and house prices. I think the answer is no, not really. There are always fights over tax and spending priorities. But nothing we know of (at least, yet) like the #2 commercial lessee backing out of a lease early, taking a huge amount of tax revenue with it.
Anonymous
02/22/2024 15:03
Subject: Better investment - fancy neighborhood in DC or MD?
Anonymous wrote:If closer to college age, you should be looking at Virginia. The choices are so much better than what MD or DC can offer.
But don't you have to live in VA for 5 years to get in-state college? That's the way it was a while back.
Anonymous
02/22/2024 14:54
Subject: Better investment - fancy neighborhood in DC or MD?
Anonymous wrote:OP I wouldn’t prioritize this question. You’re buying in mature neighborhoods where values aren’t going to change that much. Just live where you want.
Thank you, that's my instinct but reassurance I appreciate .
Anonymous
02/22/2024 14:40
Subject: Better investment - fancy neighborhood in DC or MD?
Anonymous wrote:Anonymous wrote:Imagine having enough money to buy in Upper NW and quibbling over a few percentage points over decades/ What a miserable way to live your life. Buy the house you like best and shut up.
We haven't had it easy and I feel an obligation to my kids to make a wise decision from an investment point of view, as well as what I would like for now for me. I'm guessing a lot of people weigh that.
Sure but in the context of a larger portfolio of investments and the DC vs MD growth question wouldn’t be a significant factor. For one, they probably won’t be that different and if they are, you can’t predict which way with any useful level of confidence.
Anonymous
02/22/2024 14:39
Subject: Better investment - fancy neighborhood in DC or MD?
OP I wouldn’t prioritize this question. You’re buying in mature neighborhoods where values aren’t going to change that much. Just live where you want.