Financing

You Can Officially Buy a Home with Bitcoin

Homes in DC can now be purchased using Bitcoin.

dc bitcoin condos

Unless you have been sleeping under a rock, chances are you are familiar with the current Bitcoin situation. On the off chance you aren’t, Bitcoin is a form of cryptocurrency, which is just a fancy of way of saying virtual money, or digital currency. There has been a lot of talk about Bitcoin lately because the value of them has been soaring and changing, making the early adopters of the currency rich.

Real Estate is the latest industry to be affected by the Bitcoin craze, and a developer in the District of Columbia has even offered up homes that you can either pay for with conventional dollars, or Bitcoin.

This deal applies to a renovated single-family home in Columbia Heights that has been converted into condos and renamed St. James Place Condos. The prices per unit vary between $569,000 (36 bitcoin) for a 2-bed, 2 bath 965 sq ft place, and $949,000 (or 84 bitcoin) for a 2-bed, 3 bath condo at 1,450 sq ft.

READ MORE: Three Things to Think About Before You Refinance

This is the first developer in the DC area to accept cryptocurrency for real estate, but home builders all over the country are following suit. Of course since the price of bitcoin seems so unstable, the actual numbers may have already changed since I started writing this article.

Regardless though, it’s an interesting time to be alive in the world of real estate.

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Gary Adrian Randall

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