DC Buyer: Single Working Father Looking For Home in the City

• April 14th 2010

by Martin Smith

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. If you are a prospective buyer and would like to be featured in DC Buyer, send an email to editor2010@urbanturf.com. See all of our past DC Buyer articles here.

This week, we’re working with Max, a 39 year-old defense contractor who is looking for a new home for himself and his six year-old daughter, Marissa.

Max has a nice home in Baltimore that's already paid off, however he needs to move closer to his new job at the Navy Yard. Max earns about $110,000 per year, and has a decent FICO score of 718. In addition, his consumer debt is fairly minimal at around $500 per month. He is expecting to sell his current home for around $330,000 and roll almost all of the equity into his new home, but intends to keep about $15,000 to buy a car. He anticipates shopping in the $600,000 to $650,000 range.

As Marissa gets older, Max knows a property with only one bathroom becomes more of a problem, so he is only considering two bedroom, two bath properties. In addition, Max loves to cook, so he needs a nice, functional, decently sized kitchen to "make pancakes with Marissa every Saturday morning." Lastly, Max's house in Baltimore has an amazing yard, and he's grown to love outdoor living and entertaining. While it is not a deal breaker, Max would love to have some outdoor space, where he can cook out and his daughter can invite friends over to play.

Our first option for Max is 406 11th Street SE on Capitol Hill. This two bedroom, two and a half bath home is the closest to Max's job, and is within just a few blocks of Harris Teeter, Safeway, Lincoln Park, the Potomac Avenue and Eastern Market Metro stops, and Barracks Row. Not only does the property meet his needs for two bathrooms, but it has a large, recently renovated kitchen, a fireplace in the dining room, a large backyard with a brick patio, and a pair of master suites with a washer/dryer on the second level. The home just recently hit the market for $629,000.

The second choice at 9 Cleveland Avenue in Takoma Park is the largest property we picked for Max. The three-bedroom, 2.5-bath home offers refinished hardwood floors, an amazing white-and-wood tone kitchen, fireplaces in the living room and den, and a massive backyard complete with a two-level deck, an in-ground hot tub, and a large lawn. If those aren't enough selling points, this property is the former childhood home of actress Goldie Hawn and is the least expensive choice at just $585,000.

The final choice is fairly different from the other homes we feature for Max. It is a centrally-located Georgetown property at 1080 Wisconsin Avenue NW. The renovated two-bedroom, two-bath condo is perched above the Georgetown shopping district, which has both pros and cons. The biggest disadvantage, parking, is alleviated by the fact that this unit comes with a garage space. The kitchen in this unit is beautiful, big, and modern, a big plus for Max, but unlike the other properties featured, this home does not have a yard, just a small balcony. However, the condo building comes with a roof deck, including a large swimming pool, which Max can't offer his daughter in any of the other selections. All of this comes at a price, however. Listed for $639,000, the unit is the highest priced property we feature and the condo fee ($803 per month) is quite hefty.

Given these three choices, where should Max put in his offer?

This article originally published at https://dc.urbanturf.com/articles/blog/dc_buyer_single_working_father_looking_for_home_in_the_city/1973.