I have loved renting in DC. I could go on and on about how much I love my studio, neighborhood, and property manager (WC Smith.) I don’t love that my rent rivals a substantial mortgage payment. Buying a place is a big decision but building equity and making a good investiment is one of the smartest things you can do, especially when young. Luckily there are great tools and programs out there to help make the decision. Check out New York Time’s rent vs. buy calculator. If you feel ready to make the jump, read up on DC’s Open Doors program. If you qualify, DC will help pay for your down payment. Crazy, I know. The more I learn, the more I want to get a piece of DC real estate. As I shop for myself, I will pass on good deals to EBDC readers. Happy hunting.
$299,900
1 BD/1 BA: 431 sq ft
Bloomingdale
HOA: $207 per month
What makes it great: This place really pulled on my heartstrings when I saw it. It’s a true one bedroom in one of the best parts of Bloomingale. It is caddy corner from Red Hen and Crispus Attucks Park is a less than five minute walk. Inside you have all the updates you could want. The kitchen is open with stainless steel appliances, granite countertops, a breakfast bar, a dishwasher, and a washer and dryer. To top it all off, this is a true one bedroom. Yes, 431 square feet is not a lot of space to work with, but the open concept kithchen and living area really make this place work.
The Cribline math: “The gross mortgage payment would be less than $1,400, according to me estimate. After tax deductions, the net payment would be less than $1,000 per month. Then add in the condo fee of about $200 on top of that.”
If you are paying more than $1,200 in rent, email me to get more details about this place.
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