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Timing markets is notoriously difficult, and the real estate market is no different. There are always risks and opportunities to weigh, and waiting for the perfect time to buy or sell may not work out as planned. Just two years ago, for example, buyers in the Washington, DC area who had been waiting for the housing market to cool and thought the COVID-19 pandemic might slow things down, found themselves competing in the tightest bidding wars in decades as families sought more space for home schooling and remote work.
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If you’re looking to live in the D.C. metro area, you may be considering whether to rent or buy. Many factors affect this decision, such as where you see yourself in five years, what type of lifestyle you prefer, the market, and of course, what you can afford. So, what are the costs of renting in D.C. vs buying in a neighboring area like Bethesda?
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Photo courtesy of http://www.stockmonkeys.com If you are like many home buyers, you’ve likely spent many weekends touring Open Houses and hours browsing the latest listings. And at last, you found your dream home! Once you have the home under contract, it’s easy to get distracted with all the excitement, but a few small mistakes could end up costing you the home. Here are a few tips to help you through the purchasing process.
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It's easy to appreciate how convenient urban living can be: everything is within short walking distance and the city's many public transportation options make getting to the office a snap.
Did you know that the Federal Housing Administration (FHA) loan limit is changing? The current standard mortgage limit for a single family home in the high cost DC area is $729,750. This limit, however, will soon be decreasing for loans with a note dated after September 30, 2011.
Many factors contribute to our decision to become homeowners. Lifestyle changes, financial readiness, market conditions and long-term investment goals are just a few of the indications, authors say, make this a good time to buy a home. In the DC-area, in particular, real estate prices are up and mortgage rates are down. Click here to view the full article. Perhaps it will make your own decision a little easier.
