Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Rent vs Buy in 20016 : Real Estate Advice

  • All24
  • Local Info1
  • Home Buying4
  • Home Selling4
  • Market Conditions0

Activity 1
Mon Nov 10, 2008
Michael Taft answered:
I have a little different perspective for you as I used to live at Vaughan Place and know these units quite well. While n one knows what the market will be this Spring, we as realtors all know that it is the best time to Sell and this type of property is hot right now in D.C. I am optimistic that you should be able to sell your place for close to your purchase price (+ or - a few $$$). Especially with parking.

If you rent you will never cover your mortgage and HOA. In addition the rent becomes income and is therefore TAXED. When you factor in appreciation on both the place and your furniture, I feel this becomes a bad idea, unless you would consider keeping the place long term and making it an investment property, but that is a whole other conversation.
... more
0 votes 4 answers Share Flag
Search Advice