29 Jun 2015

Real Estate:

Reader Mailbox: Looking for a Starter Home on the Hill

One of many little biscuit tin houses around Cape Charles #littlehouses #adorable #beach #igva #architecture

A little starter home, perhaps? Photo by María Helena Carey

Here at The Hill is Home we love it when our readers reach out to us for help or with questions. Recently, a reader who wants to buy his first home on the Hill asked us if we could help out. Our reader asks,

What’s the best way to spend $350k-400k on the Hill? Something where one could start a family; it could be small but preferably close to Eastern Market.

I took this question to two Realtors on the Hill. First up, Dare Johnson Wenzler, a Realtor with Compass Real Estate. You may know Dare as our weekend Open House contributor.  This is what she had to say:

That budget will not go too far in the Eastern market area.  You should be able to find 1 BR/1BA units in that price range, but if you plan to start a family you will grow out of it very quickly.  On the other hand, you may want to consider it, then hang onto the property as an investment once you outgrow it. There is a very healthy demand for rentals –both short and long term– in the Eastern Market area.

If you want to find something you can live in for awhile, look to areas like Hill East, Trinidad, Kingman Park/Rosedale where you can still find small 2 BR, 1.5 or 2 BA houses with small yards and perhaps a basement in your price range. In the northeast, the streetcar will connect you easily to H Street/Union Station. In the Southeast part of Hill East you have the proximity to Stadium metro and a ton of exciting new development planned and underway.
I also brought our reader’s question to Judi Seiden. Judi is a Realtor at Berkshire Hathaway. This is what she had to add,

My advice to a young couple with a budget of $350,000 – $400,000 to purchase a home is to keep saving or perhaps ask their parents for some financial help. The only property in that price range [on the Hill] is a small condominium.

One of my favorite things is to look at open houses every weekend. Even if it’s just clicking through the links provided by Realtors, open houses give you a feel for the space and the flow of the neighborhood that visiting a house by yourself might not necessarily accomplish. Since you are familiar with the neighborhood, I would recommend also tracking condominium buildings whose location or amenities you enjoy and keeping track of them.

We hope you found this answer helpful, and please reach out if you need more information. Wishing you the best of luck and here’s hoping we are neighbors soon!

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Do you have a question or a problem we could help you solve? Email us at thehillishome at gmail dot com, or send us a DM via Twitter (@TheHillisHome) or Facebook (https://www.facebook.com/thehillishome)

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