DC Buyer: Two Hill Staffers Looking for a One-Bedroom Unit

• February 10th 2010

by Martin Smith

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DC Buyer is a series on UrbanTurf where we look at buyers from various demographics and provide available housing options for them in the current DC market. After presenting some choices, we will ask readers to help them make their choice.

This week, we’re searching for properties for Allison and Brad, a couple, both 33 years old, who work for different Senators on the Hill. When they’re not busy duking it out over health care, education spending, and the federal deficit, they’re trying to find a new condo that they can call home.

Allison and Brad both make about the same annual salary (around $58,000) and both have strong FICO scores at 745 and 771, respectively. Combined, the two of them have just over $1,000 in monthly debt between Brad’s student loans, Allison’s car payment, and a couple credit cards each with low balances. Allison has a condo with about $100,000 in equity that she could sell to extend their reach of available properties, but she’d rather hold on to it and rent it, if she can. This decision limits their price range as they do not have very much money for a down payment. Like many DC politicos, their lives are based on the Hill, so they’d like to stay there if possible.

The first property that we found is a one-bedroom, one-bath unit at 115 E Street SE. At $299,000, it is pretty much exactly what they are willing to spend. There’s a nice bay window in the bedroom and a little nook they could turn into a home office in the main room, in addition to a walk-in closet that is almost large enough to hold Allison’s shoe collection. The kitchen is somewhat dated, and was basic to begin with, but could be easily updated later on. The condo fee is high at $428, but that includes utilities, and the building is pet friendly, and if their lives ever calm down they had been thinking about adopting a dog.

Property number two is another one bedroom unit directly across the street from the Supreme Court at 11 2nd Street NE on the market for $299,999. The bedroom in this apartment is unforgivably small, and the kitchen here is also somewhat tiny for two people, but the location is absolutely phenomenal. They’re so close to the Capitol they could walk home for lunch, and the views alone are worth the asking price. In addition, this property offers central A/C and beautiful hardwood floors. The condo fee is a reasonable $322, and the seller is offering help with closing costs.

The final choice is a one-bedroom, one-bath condo at DC’s famous Car Barn located at 35 14th Street NE. This property is far further east than Brad and Allison wanted to go, but the amenities offered by the complex put this place on their short list. It’s the least expensive of the three (offered at $290,000) with the lowest condo fee ($170), and offers an in-ground pool and a fireplace to light while you watch the November election results come in. Also off-street parking is provided for some units.

Given these three choices, where do you think they should call home?

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/dc_buyer_two_hill_staffers_looking_for_a_one-bedroom_unit/1764.