U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > District of Columbia > Washington, DC
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 06-11-2007, 03:05 PM
1 posts, read 5,071 times
Reputation: 10


Hello all,
I am getting really close to the point where I can buy my first home and I've been borderline obsessing over buying a condo in the city. One of my many concerns, however, is resale value. I see condo's being built like crazy all over the city these days. That seems to suggest that it is very unlikely that the value of one of these condo's would increase much, if at all, over the next few years with there being so much supply..

Is this concern legitimate?

If you were getting ready to buy your first right now, what would you be thinking? I'm not trying to make off like a bandit here but I certainly don't want to end up like my friend in Atlanta whose place is actually worth less that it was when she bought it
Rate this post positively Quick reply to this message

Old 06-11-2007, 05:13 PM
2,462 posts, read 8,411,012 times
Reputation: 996
You are right to be concerned. There seem to be brand-new condos everywhere in DC and northern Virginia. I would take a good, hard look at the market trends in the neighborhoods that interest you, and consider how long you plan to stay in this condo. If there is actually a glut of condos -- especially at the entry level -- on the market, you can't expect to come out ahead should you need to sell in a few years. It might be smarter to continue to rent until you can afford to buy a townhouse or single-family house.
Rate this post positively Quick reply to this message
Old 06-13-2007, 12:41 AM
1,463 posts, read 5,913,132 times
Reputation: 936
No don't be concerned. Here's what you look at

1. The neighborhood- Is it in a hip, young, educated neighborhood with some diversity/gays/entrepreneurs. If so the value will rise....

2. You have the baby boomers retiring looking to downsize. Thats why you have all the build up for Condo's now....

3. Washington DC metro is expected to gain a million new families/individuals in the next 20-30 years...Where are they gonna live. Strong economy and jobs, especially high paying/highly educated jobs....

4. You have 77 million people entering their early 20's and late teens right now. Where are they gonna live???? Where are the people who are living longer and healthier gonna live????
Rate this post positively Quick reply to this message
Old 06-13-2007, 01:23 PM
1,389 posts, read 6,003,660 times
Reputation: 299
Ithink condos will be the hot new trend in DC. Dc is becoming a fun,young,hip area where most people who move in donot have any kids so they tend to purchase condos. Dc reminds me of New York where condos in the city is hot.
Rate this post positively 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.

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

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
View detailed profiles of:

All times are GMT -6.

© 2005-2021, 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