22 Comment

  • Small and bland. I still can’t believe studios are going for this much.

    Buying a house is a pain in the a**, but whenever I read these posts I am so glad I’m building equity every month and not crapping $1350 away on a studio apartment.

  • Look, buying and owning a house is a personal choice and one that isn’t necessarily better than renting. Considering how many people got ruined in the crisis over the last couple of years, homeownership isn’t a universal good. So sick of people saying renting is throwing your money away. More complicated that such a pat statement.

    • I said *I’m* glad. You can be fine with renting.

      Of course buying isn’t for everybody. My point is this rental market is rough– it’s hard to swallow paying $16,200 per year to rent a studio apartment, without the possibility of ever getting any of that back. It would help if this was a one-bedroom. When you start to get into the $1350 range, I think it makes sense to at least be buying some comfort to go with your convenience.

      I didn’t mean to make this a rent vs. buy thing. What I meant was, from my perspective, $1350 is a lot to pay for a studio apartment.

      • Hard to find a 1-bedroom for $1350 or less. Most people rent studios like this because they agree with your sentiments and are trying to spend as a little as possible on rent (without getting roommates or living in Anacostia).

        • I don’t live in Anacostia or have roomates and I pay $850. I live in Eckington, and before you get into pissing on Eckington, let me give you the formal invite to kiss my ass.

  • +1,000,000

    Renters also enjoy much greater mobility if and when they lose their jobs and need to relocate for new ones. Plenty of homeowners trapped in underwater mortgages and unable to move for new employment opportunities.

    • Another for CONTENT TO RENT.
      No property taxes or maintenance overhead and I can relocate or downsize on a dime. Happy to pay for my freedom.

    • Not really in DC. If you’re in a decent neighborhood and the property is reasonably priced you should have no trouble selling.

  • The only benefit to owning versus renting is the ultimate sale date. So renters save all that money we spend on up-keep that you don’t. Make renting really worth it.

    Owning a home only pays off in two situations, in my opinion. If you stay put in your home for many years to earn equity or if you flip-em. It seems nothing inbetween works.

    Ask me how my weekend was… “Worked at home applying “TLC” to my old row house,” but I do love it.

    I get the renters, it is a much easier life.

    • Oh yeah, for that spot, $1350 is a deal.

    • “Owning a home only pays off in two situations, in my opinion. If you stay put in your home for many years to earn equity or if you flip-em. It seems nothing inbetween works.”

      I disagree. Even if you sell the house for the amount you purchased it for you’re making out better financially than the guy who rented the studio. Unless your home upkeep, tax, insurance, and settlement expenses are greater than $16,200/year on average.

    • Except for the tax deductions you get from owning the house/condo. Especially those first few years, almost everything you are paying is interest, which is tax deductible. Your rent is not.

    • “The only benefit to owning versus renting is the ultimate sale date.”

      There’s more than that. In many parts of DC right now, you can get a lot more home for your money if you buy– for instance, we were renting a one bedroom for $1400 and bought a three bedroom house with a backyard just down the road that works out to just slightly more per month (with a healthy downpayment, which means a lot of our money is tied up in DC real estate, and that is risk that renters are avoiding). Aside from any money you *might* make in the long run, you can gain a lot of space, if that is important to you. Personally, we bought and said we would be happy if we broke even and just saved on paying rent, as another poster points out.

      • The way to look at it is this: do you plan on staying put for 5 years minimum and/or or feel comfortable owning a rental property (if you want to move)? If so, consider buying.

        The real benefit of ownership is that your effective “rent” goes down over time. The money one will save over 30 years is astronomical — enough to fund a modest yet functional retirement account. Plus, your “rent” drops to near nothing once you’re paid off.

  • i think this feature has run its course.

  • Back to the original point. For an apartment in Woodley Park that’s a block or so from the Metro, $1,350 is pretty good, even for a studio.

  • I think this is a good deal — good location, looks big for a studio.

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