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I've lived in Durham for almost a year now (Duke grad student...), and am now looking to buy a townhouse or condo somewhere within a 10 min or so drive from Duke's West Campus. What I'm unclear about is how properties are likely to appreciate in the next 5 years, which is about how long I'll be here. Here are some of my favorite areas based on driving through and looking at MLS listings:
Colony Hill/Beech Hill area (west of 15/501, just off Pickett Road)
Northern Hope Valley communities like Breckenridge, etc.
North Durham communities like Peppertree
It seems pretty clear that places in South Durham (e.g. Woodmont) are gonna gain some value in the near term because of Southpoint, but I'm not so sure about the others. Maybe further development near Hope Valley will help the second area... One place I especially liked was the Colony Hill area because of its nice, quiet, wooded setting; short commute; and grad student population. But I'm not sure how well 1972 condos will appreciate! They are pretty close to Duke, 15/501, and I-85, so demand can't fall too much, right? (That's what I want to hear, but if I'm wrong, please tell me!)
Anybody know these areas at all? Any input would be much appreciated!
We just bought a condo in Downtown Durham, which we *hope* will appreciate within the next five years due to the massive influx of revitalization capital. My fiance and I are both Duke grad students as well, and I think there are a few who live in West Village. I also like that it's a short commute from both campuses, and very close to the Brightleaf area and the Fed.
Yeah, I've heard there are some downtown condos being renovated that might see some nice appreciation. Good luck with that.
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