Condo near future metro station - Sell now vs. in 2020? (fit in, sale)

[rd290]

I own and live in a 1-bedroom condo that's only 1 mile away from a future metro station off the Sliver Line - Phase 2. Should I sell my condo now or wait until 2020 when Sliver Line Phase 2 is supposed to open? I'm no longer happy living here and if it's not going to make much of a difference in $$$$ between selling the place now vs. 3 years from now, then I might as well put it on the market sometime this year.

Thoughts?

[Flamingo13]

None of us has a crystal ball...

[Abraham Walker]

Easy answer, sell now or hold on to it forever.

The current market is hot. smokin hot. Houses are flying off the shelves. Hot markets lead to warm markets which end as a crash. Markets work in waves. If you can sell now, this is probably the best time to sell in the past 5 years.

If your goal is to become a landlord with tenants in multiple units, keep the condo.

If your goal is to use this property as a forced savings account towards your future retirement, keep the condo.

If you need the money to purchase a new property, sell the condo.

If you don't have anything to do with the money you will earn from the sale of your condo, talk to your finical advisor about other investment vehicles to earn additional income from your capital.

This question is simple if you look at your long-term goals. Savings, growing your capital or moving your profit into another asset.

Run away from anyone that guarantee an increase in prices. If they were certain of this, they would buy your condo themselves.

I hope this helps.

Side note: This comment does not create a real estate agency relationship. Please consult with a professional before using any advice in this post.

[Hal Roach]

My experience has been that there ate bigger gains during the land acquisition phases (once it is a sure things), than the actual opening of the station. Three years is plenty of time for the apartment REITS to come in and build a ton of units that are nicer, closer, and newer than yours.

[Old Guard]

My personal opinion would be to sell and buy a bigger place where you wish to live.

1 BR 1 BA Condos do not see the increases that even a 2 BR 2 BA condo see and I think a SFH would be a better investment. If you can afford it buy something to grow into.

When I sold my 1 BR condo I sold it for $20-$30 K? less than the 2 BR 2 BA condos in the same building sold for. I was lucky and got in early so I did make a good down payment for my house but I would have sold sooner if I would have known how easy it was to sell the condo and get a house.

[dkf747]

A mile away means sell now. If it was closer then maybe you could wait. People in Ashburn don't walk much to places.

[boyd888]

Sounds like you sell now which is a good idea imo. I think the future metro appreciation is already priced into a lot of places by stations anyway and the thing with condos, especially 1br, is that there is always going to be newer and better condo buildings that come along. One mile away from a future metro is still far...you can fit a lot of newer buildings in that space.