Hyattsville Arts District Townhomes vs. Mount Rainier Real House (College Park: real estate market, apartment)

[LauraMM]

Hi all! Long time lurker, first time poster!

My husband and I have a dog and a baby. We have been living in an apartment in my parents' house in MoCo for a couple years now, but it's growing cramped and we're ready to move on. We don't think we can afford what we want in MoCo, and we're looking for something that will appreciate, so we're setting our sights on up-and-coming (or already there!) areas of PG County.

What do folks think of the choice between a new construction townhome in the Arts District vs. a renovated SFH in Mount Rainier? We're probably looking in the 300-450K range, though 450 would be a *real* stretch.

Our criteria:
- 1,200+ sq ft
- 3+ bedrooms
- commute to DC of no more than 1 hour (preferably by public transportation)
- dog- and kid-friendly (preferably somewhere outdoors for kids and dogs to play)
- friends like us (young families)
- good chance of appreciation in 5-10 years (we might want to move before our kids are school age, but we're not necessarily committed to doing so)

Thanks in advance!

[LauraMM]

--and I should have said "Mount Rainier SFH" in subject line. Didn't mean to imply that townhomes are not real houses!

[adelphi_sky]

Originally Posted by LauraMM

--and I should have said "Mount Rainier SFH" in subject line. Didn't mean to imply that townhomes are not real houses!

Since you have a dog, I'd suggest a SF house first. Mt. Rainier is a good spot. Though there are similar SF homes within Hyattsville that are of the same architecture. Even further north along RT. 1 in Riverdale and College Park are places that are experiencing revitalization. There are ample parks and dog parks nearby.

I live in Adelphi and have a dog and will soon have a child. I frequent the area a lot.

[MDave52]

I'm also a longtime lurker (you're not alone ) I post every now and then. I live in the area you are looking to move and I personally think you'll get the most bang for your buck in Mt. Rainier.

As far as 5-10 yr appreciation, you will probably see more in a SFH there because it is on the verge of it's development. It is the gateway into MD and right now it doesn't offer much (along Rt.1) but the plans are there, and are moving forward. With its proximity to DC, Metro, Hyattsville, etc. you are in a good place to take advantage of all the area has to offer.

[TCR25]

Given the dog, I'd say SFH is the way to go. You should have a few options in either Mt. Rainier or Hyattsville, boiling down to which neighborhood you like better. There might be more Victorian-style houses in Mt. Rainier; Hyattsville more Craftsmans, depending upon which part of town. Hyattsville might have easier access to the Green line; Mt. Rainier is a pretty straight shot downtown via bus down Rhode Island.

If you start thinking schools, there are going to be some boundary shifts announced in the next month or so because of the new elementary school coming online in West Hyattsville. Most of the changes are expected to fall west of Queens Chapel and north of Ager road, but until a proposal is out, who knows ...

[SincereRegal]

Well I live in a SFH in the Hyattsville area and the majority of the families that live in those new townhouses do have dogs and are younger families so I don't think that would be too much of a problem.

As far as the neighborhoods are concerned, I would go with Hyattsville over Mt. Rainier. Even though it is a lot more foot traffic in Hyattsville now, it is still an ideal place to live in my opinion. It is really gonna come down to the size of the home honestly, while those townhouses are great in all of the models; they are costly compared to the SFH in Mt. Rainier and Hyattsville for that matter. Plus your not getting the front or backyard or even a driveway honestly (if that affects you in any way).

[Matt2789]

I bought a 3 bedroom, 1800 sq. ft. SFH with large yard in the Mt. Rainier area about 9 months ago for less than half of what those Townhouses are going for. With that said I still think the townhouses are a deal if that is what you are looking for and can afford the extra costs. The whole Gateway Arts District out RIA from the DC border up through Hyattsville is the most under rated real Estate market around DC (largely because of the PG county stereotype). Lots of building projects slated for the near future that will only continue to keep driving the property values up. My prediction though for you is that a SFH would appreciate in value much more than one of those new Townhomes.

[NOVA Girl]

Keep in mind that anyone who buys a townhouse in the Arts District today with the idea of selling in a few years will be competing with the new townhouses that will be built as part of the new Cafritz/Whole Foods project in Riverdale. I don't know what their timeframe will be for building those (190 of them I believe), but that additional supply could, when it's brand new, serve to tamp down prices of the somewhat older Arts District townhouses. Just something to keep in mind. If you're going to stay put for 10 years, this probably wouldn't be an issue for you.

[LauraMM]

Thanks everyone for the very helpful comments! We looked at both the Arts District townhomes and a few SFHs in Mount Rainier. The townhomes are beautiful, but the lack of yard is a real problem for us, and I think I agree with others that they just don't have the same potential for appreciation, especially with the Cafritz development coming in. We weren't overly impressed with any of the Mount Rainier homes in our price range, so I'm thinking we might just have to wait a bit or look elsewhere!

[afer1500]

Originally Posted by LauraMM

Thanks everyone for the very helpful comments! We looked at both the Arts District townhomes and a few SFHs in Mount Rainier. The townhomes are beautiful, but the lack of yard is a real problem for us, and I think I agree with others that they just don't have the same potential for appreciation, especially with the Cafritz development coming in. We weren't overly impressed with any of the Mount Rainier homes in our price range, so I'm thinking we might just have to wait a bit or look elsewhere!

Hi Laura,

We are also looking for a SFH in Mr. Rainier, Brentwood, and/or Arts District proper. We've seen some nice homes in Mt. Rainier and Brentwood but haven't found anything we love either. I'm curious what you found underwhelming. My wife and I are starting to think we are too picky. Our budget is nearly identical.