Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > District of Columbia > Washington, DC
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 10-15-2009, 03:00 PM
 
1 posts, read 2,484 times
Reputation: 10

Advertisements

Just curious for anyone that has knowledge in this area, if I were to purchase a condo today, and don't need the extra space for myself, would I be better off to purchase a loft or a 1-bedroom, in regard to resale value down the road? I have a realtor trying to sell me a loft, but I have a hard time believing him when he tells me that a loft will actually sell better and retain its value better than a 1-bedroom would. He claims that investments in real estate are always best done at the lowest possible dollar value at purchase, whether it be a loft or a 1-bedroom. Thoughts, anyone? Thank you!!
Reply With Quote Quick reply to this message

 
Old 10-15-2009, 04:47 PM
 
1,054 posts, read 5,073,260 times
Reputation: 360
The condo market in DC is a strange beast. I'd do some more research as there has been quite a lot of condo development in the DC area over the last 3-5 years. Several buildings have had vacancies for awhile. I've read that there is a glut, but others may differ in their views.

My view on buy low / high etc would be to buy the lowest price thing, such as a fixer upper house, and then put some effort into it cleaning and repairing and turn a bit of a profit on that.
Reply With Quote Quick reply to this message
 
Old 10-16-2009, 06:42 AM
 
228 posts, read 917,361 times
Reputation: 161
Lofts have been very popular, although I also know some people who regret their decision to go with an open floor plan (less privacy, noise issues, etc). They tend to be popular with singles or couples without kids.

I agree with Penguin - if you really want a good investment, buy a foreclosed or fixer-upper property and do the work yourself.

Also, I would be cautious about buying any newly-constructed condo in DC. There are some beautiful ones out there. But a lot of stuff got slapped together during the 2004-2007 boom, and construction standards were not always up to par. Be sure to get it inspected, and talk to neighbors to see if they've had any problems with leaks, cracking, etc.
Reply With Quote Quick reply to this message
 
Old 10-21-2009, 08:40 PM
 
1 posts, read 2,432 times
Reputation: 10
Thank you for the information (changed my username). Very much appreciated.

Pat
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > District of Columbia > Washington, DC
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top