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I'm a 23 year old guy, have lived in Arlington for about a year and a half, and am currently looking to buy a place in the District itself. I'm looking to spend about $250,000 or less on a condo, with either one or two bedrooms, and be in a neighborhood with a little more personality than what I currently have in Arlington.
I also want to be somewhat walkable to the Metro (since I don't have a car) and in an area that will get better and appreciate in value over the next 5-10 years. Being pretty young, I'd also like to be in an area that is somewhat close to nightlife, and not have more than a ~45 minute commute to my office on the Orange Line in Arlington.
So far, I've been looking in Bloomingdale, Mt. Pleasant, and Hill East, but am definitely open to others. I have some concerns with all of these areas--Bloomingdale's off the Metro, Mt. Pleasant is a little pricier than the other two, and Hill East is kind of isolated--so just looking to see what the general consensus is on places I should look.
Southwest may still be in your price range. It fits everything you're looking for but the nightlife, but you're also a 5 minute metro ride away from Chinatown.
You used to be able to buy 600+ sq ft studios in Navy Yard for less than $250,000 that included reserved underground parking in brand spanking new fancy places. I think they are all sold out, but I might be wrong.
Southwest you can buy a 1 BR or a studio for less than $200,000, but it probably won't include reserved parking or granite/fanciness or general quality of finish you'd find in Navy Yard.
Both areas are guaranteed to appreciate in value, though Navy Yard probably moreso in the nearer future, as I think the timeline for SW's development is longer term (I'm guessing 10 ish years versus Navy's 3-8). The tradeoff is that Navy Yard is more expensive. But you also get more amenities and it's safer than SW (not that SW is particularly dangerous, but there are a few projects around. Navy Yard has none except for some mixed income places). Both places are more metro friendly than Bloomingdale and are safer (I think). The real night life around U Street/Admo/Dupont you won't be able to buy your way in for 250g's if you want it close by walking, sorry.
I despise Arlington with a passion (moreso the generic white people who live there than the actual place), so any place in DC will have more personality. Although if you want cute little rowhouses and corner shops than maybe you should stay away from Navy Yard and SW.
PS: They are opening a giant public housing project in Eckinton (not far from Bloomdingdale) that's not even mixed income. I'd stay away. (unsure about this last point, only read about it)
Last edited by jokerstars; 04-09-2012 at 12:46 PM..
You used to be able to buy 600+ sq ft studios in Navy Yard for less than $250,000 that included reserved underground parking in brand spanking new fancy places. I think they are all sold out, but I might be wrong.
most of the buildings in Near SE are rental. I think the condos start at over 300k for a one bedroom.
Any nabe with 1 BR condos for 250k or under is going to involve tradeoffs. I would look at Bloomingdale, Eckington, the margins of Capital Hill, maybe also Brentwood, and Brookland.
OP might also want to look at South Arlington (shirlington or Columbia Pike) or Alexandria = they won't be as vibrant as DC, but probably a shorter commute than the parts of DC he can afford.
^Two of my friends bought 640-680 sq ft studios in Navy Yard. One paid 235k and the other paid 245k. They got a year of condos fees waived, underground parking, and closing costs covered.
^Two of my friends bought 640-680 sq ft studios in Navy Yard. One paid 230k and the other paid 240k. They got a year of condos fees waived, underground parking, and closing costs covered.
^Two of my friends bought 640-680 sq ft studios in Navy Yard. One paid 235k and the other paid 245k. They got a year of condos fees waived, underground parking, and closing costs covered.
I got a similar deal with Potomac Place Tower in SW. Got a 621 square foot studio for...$193K (after the 3.5 down), closing costs were covered as well as a year's worth of condo fees waived. Parking was an extra 20K. Don't have a car, but in hindsight, I probably should have gotten it and rented it out.
Oh whatever, I'd rather take a 670 sq ft studio than a 600 sq ft 1 BR.
All depends on the lay out. The studio I got is open space and I only have three pieces of big furniture: a bed, couch, and a room divider/book shelf, plus my entertainment center of course. Still have loads of space though. I may add another drawer.
BTW, I think prices in Navy Yard in the 300K area now. H Street may be out of the question for OP since it's nowhere near a metro. Choices are slim if that's the max he can afford.
I have another friend who lives in Potamac Place Tower. I think he built a wall to turn his studio into a junior 1 BR. He still fit two full sized sofas into that bad boy.
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