Asked by Raf, Washington, DC • Tue Aug 2, 2011
New to the Q & A. Just have a quick question for you guys, as the description said, I am a 25 year old single male. I'm currently renting an apartment in Columbia Heights for about $1400, and I've come to the realization that my preference is to buy a condo somewhere in DC. My search has gone on for about a month, and I have closed in on the SW Waterfront area. The location is ideal, Metro/CVS/Starbucks/Safeway all a block away from me, which is good b/c I don't own a car. The thing is though, it's a 621 square foot studio, with an HOA fee of $301 (which includes all utilities but cable). I guess my ? is, in this market, is a 621 square foot studio condo at $199K a good investment? I'm priced out of all the main areas in DC, and if I had to choose between the SW Waterfront or NE/SE DC, I'd rather go with the Waterfront since I see that area booming in the next 2-3 years. I'll add more info if necessary, just wanted to get people's thoughts on this. I'm a first time home buyer.
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