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I've been looking at real estate lately, as I'm still facing the looming deadline of my current place being sold by the end of July and having to find a place to live before that.
So, yesterday I stayed up late to look at a place down in Betheseda. Eight blocks from the Metro, under $170,000 (just barely) and in a building with a manned front desk (paid for by the $310/month condo fee).
It was the size of a shoebox. And miserable.
Now, I've lived in an efficiency (a bedsit, for you overseas) before, so that isn't a total mood killer for me. But not only was this place small, with one small window, but the only light was a spotlight -- not a task light or area light -- over the stove. The bathroom connected through the closet, and though the toilet had been replaced, they'd neglected to repalce the flooring; there was a space around the toilet it just didn't cover. The shower walls were tile, but with flaking caulk and looking like it needed to be replaced entirely.
The kitchen area had a table-top by the wall. It wasn't attached properly to the wall, but instead canted at a noticeable angle.
I could tell my realtor to offer $125,000 for it. This place has been on the market for more than a month, and given how super-heated the local real estate is, it should have sold already. I could offer a low bid for it, and use the money I save to repair and repaint, and even get myself a car.
But when I lived in an efficiency before, I had basically only used it for cooking, eating, and sleeping. I had other places to go to live my actual life. I can't imagine doing that again with this place as my base.
I swear, I'm just about ready to call it all off and rent an apartment. Or find a sharehouse -- $2000 in rent split four ways would save a lot of money for everyone participating.
So, yesterday I stayed up late to look at a place down in Betheseda. Eight blocks from the Metro, under $170,000 (just barely) and in a building with a manned front desk (paid for by the $310/month condo fee).
It was the size of a shoebox. And miserable.
Now, I've lived in an efficiency (a bedsit, for you overseas) before, so that isn't a total mood killer for me. But not only was this place small, with one small window, but the only light was a spotlight -- not a task light or area light -- over the stove. The bathroom connected through the closet, and though the toilet had been replaced, they'd neglected to repalce the flooring; there was a space around the toilet it just didn't cover. The shower walls were tile, but with flaking caulk and looking like it needed to be replaced entirely.
The kitchen area had a table-top by the wall. It wasn't attached properly to the wall, but instead canted at a noticeable angle.
I could tell my realtor to offer $125,000 for it. This place has been on the market for more than a month, and given how super-heated the local real estate is, it should have sold already. I could offer a low bid for it, and use the money I save to repair and repaint, and even get myself a car.
But when I lived in an efficiency before, I had basically only used it for cooking, eating, and sleeping. I had other places to go to live my actual life. I can't imagine doing that again with this place as my base.
I swear, I'm just about ready to call it all off and rent an apartment. Or find a sharehouse -- $2000 in rent split four ways would save a lot of money for everyone participating.
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From:
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you could do a low bid, and really fic it up with storage and such, but where would you put your sewing? wnd what if you want to entertain friends?
Is it possible to do a equity share? You and a partner buy a house, and you guys can sell it about 3-5 years later.
From:
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Did I mention it's on the 10th floor? There isn't space to fix it up in. And yes, where the hell would I put my sewing or knitting? Even my smallest loom wouldn't fit.
Is it possible to do a equity share? You and a partner buy a house, and you guys can sell it about 3-5 years later.
I don't suppose you want to move out here and buy a house with me?
Really, the problem is that I'm single, I am likely to remain single for the foreseeable future, and that while I have a steady job, I don't have one that pays $70,000 a year.
From:
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And you are right- you either need a high income or you need to have a dual income! argh! But the thing is out here, I can still get into a home for under $200K, with good amenities. It's just me looking for my dream home, because i really don't belive in starter home nonsense.