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Old 04-09-2018, 04:44 PM
 
43 posts, read 102,557 times
Reputation: 25

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Hi everyone,

We are a family with a young toddler now in NOVA area but we have been contemplating the idea of purchasing a brand-new luxurious townhome in Bethesda area. The one we are really interested in are EYA's Montgomery row or Grosvenor Heights.

The cost of the models we are interested with all the options will end up around $1.4 M at Grosvenor height for a 4 BR / 3,400 sq ft unit with whole floor as a rooftop deck (950 sq ft) We have been told by quite a few people that we had better off purchasing a SFH instead. We do realize that we could probably get a nice SFH with the price we are planning to pay (though a new SFH will probably cost $1.5M+ in the same area from what we researched). To be honest, we do not the high maintenance that come with SFH especially the yard.

We have the budget to pull the trigger but we are curious to hear thoughts from you guys here especially about the resale value in the future. We especially love Grosvenor Height as it's walkable to metro, has the whole floor as a roof top deck, has really good school pyramid, close to major highways (270 and 495), the walkability to the park nearby with tennis courts and the proximity to many retails nearby (Pike & Rose, Grosvenor Market and etc..), access to Bethesda Trolley trail and rock creek rail and it's hard to find anything comparable to the place. The place seem to be geared towards retired couple but we were told that many families have purchased here as well.

Thanks,
Mel
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Old 04-09-2018, 08:46 PM
 
1,769 posts, read 1,730,887 times
Reputation: 2059
I toured a smaller model at Montgomery Row and was, per usual, impressed with EYA's build and finish quality. I think their reputation alone will help maintain resale values in either community.

It's probable that a SFH will appreciate in value a bit faster than a TH, generally, but I don't think it's such a vast difference that you should mold your decision around it. If you want a maintenance-lite lifestyle then you should go for it. As the county/state/country/world population continues to age, lower maintenance communities will continue to grow in popularity, anyway. Generally, single-floor living would be important to that older population, but I'd assume @ $1.4M+ EYA's including an elevator to mitigate the issue.

As for the location, I'd think Grosvenor Heights will at least maintain its value for the reasons you mention - schools, metro, commuter routes, and Pike & Rose. None of those will change or degrade and White Flint/Grosvenor (and Twinbrook/Rockville/Bethesda) will continue building out w/additional amenities and employers over the mid and long term, whether Amazon selects the area or not.

Best of luck in your decision!
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Old 04-10-2018, 06:21 PM
 
43 posts, read 102,557 times
Reputation: 25
Quote:
Originally Posted by bufflove View Post
I toured a smaller model at Montgomery Row and was, per usual, impressed with EYA's build and finish quality. I think their reputation alone will help maintain resale values in either community.

It's probable that a SFH will appreciate in value a bit faster than a TH, generally, but I don't think it's such a vast difference that you should mold your decision around it. If you want a maintenance-lite lifestyle then you should go for it. As the county/state/country/world population continues to age, lower maintenance communities will continue to grow in popularity, anyway. Generally, single-floor living would be important to that older population, but I'd assume @ $1.4M+ EYA's including an elevator to mitigate the issue.

As for the location, I'd think Grosvenor Heights will at least maintain its value for the reasons you mention - schools, metro, commuter routes, and Pike & Rose. None of those will change or degrade and White Flint/Grosvenor (and Twinbrook/Rockville/Bethesda) will continue building out w/additional amenities and employers over the mid and long term, whether Amazon selects the area or not.

Best of luck in your decision!
@bufflove : thank you so much for your kind inputs! Every time, I mention to someone that we are considering buying a million-dollar townhome (didn't even mention that it is 1.4M), I always get comments like "are you crazy?" and etc.. so I kinda stopped asking for inputs from friends and families.. haha..

The units at Grosvenor Heights are incredibly beautiful and all come quipped with elevators as standard options! We are debating between purchasing here or get a SFH in Clarksville area but I personally prefer to stay closer to the city! (I work from home but have to go to DC often, my DH works in Baltimore 4 times a week but our job could be relocated to DC in the future)
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Old 04-11-2018, 10:10 AM
 
584 posts, read 498,532 times
Reputation: 97
Quote:
Originally Posted by melaniey View Post
@bufflove : thank you so much for your kind inputs! Every time, I mention to someone that we are considering buying a million-dollar townhome (didn't even mention that it is 1.4M), I always get comments like "are you crazy?" and etc.. so I kinda stopped asking for inputs from friends and families.. haha..

The units at Grosvenor Heights are incredibly beautiful and all come quipped with elevators as standard options! We are debating between purchasing here or get a SFH in Clarksville area but I personally prefer to stay closer to the city! (I work from home but have to go to DC often, my DH works in Baltimore 4 times a week but our job could be relocated to DC in the future)
I think you should ask about/search on dcurbanmoms.com. They have a real estate forum.
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Old 04-11-2018, 11:30 AM
 
Location: National Harbor, MD
219 posts, read 513,538 times
Reputation: 108
Quote:
Originally Posted by melaniey View Post
@bufflove : thank you so much for your kind inputs! Every time, I mention to someone that we are considering buying a million-dollar townhome (didn't even mention that it is 1.4M), I always get comments like "are you crazy?" and etc.. so I kinda stopped asking for inputs from friends and families.. haha..

The units at Grosvenor Heights are incredibly beautiful and all come quipped with elevators as standard options! We are debating between purchasing here or get a SFH in Clarksville area but I personally prefer to stay closer to the city! (I work from home but have to go to DC often, my DH works in Baltimore 4 times a week but our job could be relocated to DC in the future)
I agree with you about the maintenance of a SFH which is why I bought a TH in National Harbor a few years ago...and I love it (walk-able to restaurants, waterfront, and the Woodrow Wilson bridge walking/biking trail).

I say go with your initial instinct and get the TH, especially b/c of the walk-ability and the amenities close by, which sound important to you. In the DC area, most homes maintain or increase in value when it's walk-able to a metro, restaurants, shopping, etc....

Good Luck!
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Old 04-13-2018, 10:01 AM
 
Location: Dfw
323 posts, read 128,917 times
Reputation: 374
My sister lives in one if those Bethesda townhouses and regrets it. Yes its extremely convenient and close to everything but its just too darn expensive plus they are giving her the run around and lying about her lease . you just have to be careful where you decide to live.
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Old 04-15-2018, 03:07 AM
 
9 posts, read 4,687 times
Reputation: 10
Default BethesdaInfo

Quote:
Originally Posted by melaniey View Post
Hi everyone,

We are a family with a young toddler now in NOVA area but we have been contemplating the idea of purchasing a brand-new luxurious townhome in Bethesda area. The one we are really interested in are EYA's Montgomery row or Grosvenor Heights.

The cost of the models we are interested with all the options will end up around $1.4 M at Grosvenor height for a 4 BR / 3,400 sq ft unit with whole floor as a rooftop deck (950 sq ft) We have been told by quite a few people that we had better off purchasing a SFH instead. We do realize that we could probably get a nice SFH with the price we are planning to pay (though a new SFH will probably cost $1.5M+ in the same area from what we researched). To be honest, we do not the high maintenance that come with SFH especially the yard.

We have the budget to pull the trigger but we are curious to hear thoughts from you guys here especially about the resale value in the future. We especially love Grosvenor Height as it's walkable to metro, has the whole floor as a roof top deck, has really good school pyramid, close to major highways (270 and 495), the walkability to the park nearby with tennis courts and the proximity to many retails nearby (Pike & Rose, Grosvenor Market and etc..), access to Bethesda Trolley trail and rock creek rail and it's hard to find anything comparable to the place. The place seem to be geared towards retired couple but we were told that many families have purchased here as well.

Thanks,
Mel
I've seen all the models of those town homes and they show well. However, consider the following:

Is there adequate storage? No basement, smallish closets.
Parking for guests? Parking is tight - will visitors, children's friends parents be able to come to play.
Where will your child play? No yard
How easy is that walk to Metro? Have you actually walked it. It's certainly walkable, but will you REALLY want to do it? Or end up driving.

For the same amount you could have a spectacular SFH in nearby Wildwood- with a yard, plenty of space, and an easy walk to Wildwood Shopping Center- one of the best centers in the area. Walking to Metro would still be possible, but you'd likely do the short drive. Note, however, a stop for the County's planned BRT system is just across the street at Rockledge and Old Georgetown Rd.
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Old 05-05-2018, 01:09 PM
 
2 posts, read 1,004 times
Reputation: 10
A bit late but....I live nearish the Symphony Park townhomes at Strathmore and notice that resales stay on the market for months. I don't know what the new ones being constructed off Grosvenor Lane are like - but I'd look into Garrett Park for that money and getting a charming SFH. You can walk to MARC rail and avoid metro.
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Old 05-06-2018, 01:15 PM
 
3,061 posts, read 2,827,086 times
Reputation: 5821
Quote:
Originally Posted by melaniey View Post
@bufflove : thank you so much for your kind inputs! Every time, I mention to someone that we are considering buying a million-dollar townhome (didn't even mention that it is 1.4M), I always get comments like "are you crazy?" and etc.. so I kinda stopped asking for inputs from friends and families.. haha..

The units at Grosvenor Heights are incredibly beautiful and all come quipped with elevators as standard options! We are debating between purchasing here or get a SFH in Clarksville area but I personally prefer to stay closer to the city! (I work from home but have to go to DC often, my DH works in Baltimore 4 times a week but our job could be relocated to DC in the future)
Go for the townhouse and don't worry about future values. Single detached homes will be more desirable in smaller cities and towns, but it is a different story in areas that are rapidly urbanizing, such as that area. Those who are critical need to look at the history of townhouses in DC and Montgomery County.
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