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Old 04-03-2015, 08:13 PM
 
3 posts, read 3,425 times
Reputation: 10

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Hi,

I'm looking to buy a house in Baltimore but am stumped on where to buy. I am starting a family so I want somewhere safe for us but affordable as well. I've searched all over but it's been a tough process as I know we only plan to stay for 3-5 years. I want to make sure we buy in a decent area that will easily resale. Any ideas of areas like this in Baltimore City?

Thanks in advance!
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Old 04-03-2015, 08:32 PM
 
Location: The Triad
34,088 posts, read 82,937,102 times
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Quote:
Originally Posted by AvidThinker View Post
I know we only plan to stay for 3-5 years.
Then rent. Don't buy
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Old 04-03-2015, 08:42 PM
 
580 posts, read 777,114 times
Reputation: 740
Quote:
Originally Posted by AvidThinker View Post
Hi,

I'm looking to buy a house in Baltimore but am stumped on where to buy. I am starting a family so I want somewhere safe for us but affordable as well. I've searched all over but it's been a tough process as I know we only plan to stay for 3-5 years. I want to make sure we buy in a decent area that will easily resale. Any ideas of areas like this in Baltimore City?

Thanks in advance!
Budget? Place of employment?

3-5 year timeframe sounds like you are looking for an investment as well as a home; usual suspects of Fells, Federal Hill, Canton, Mt. Vernon, Harbor East..
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Old 04-03-2015, 09:09 PM
 
3 posts, read 3,425 times
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Quote:
Originally Posted by MrRational View Post
Then rent. Don't buy
I've thought about the renting option but I've been told and read that it's best to buy as 3-5 year timeframe of living is better to try to make money instead of throwing it away.
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Old 04-03-2015, 09:14 PM
 
3 posts, read 3,425 times
Reputation: 10
Quote:
Originally Posted by pokeable View Post
Budget? Place of employment?

3-5 year timeframe sounds like you are looking for an investment as well as a home; usual suspects of Fells, Federal Hill, Canton, Mt. Vernon, Harbor East..
We are looking for something no more than 200k hopefully. I've looked into the areas you listed but those do not seem too fit for a family. They are indeed in very convinient locations yet they are too fast paced for a new family
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Old 04-03-2015, 09:33 PM
 
Location: The Triad
34,088 posts, read 82,937,102 times
Reputation: 43661
Quote:
Originally Posted by AvidThinker View Post
but I've been told...
You've been told wrong.

5 Years is the common wisdom for the MINIMUM holding time.
But it's your money... have fun.
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Old 04-04-2015, 04:58 AM
 
2,483 posts, read 2,473,538 times
Reputation: 3353
Quote:
Originally Posted by AvidThinker View Post
I've thought about the renting option but I've been told and read that it's best to buy as 3-5 year timeframe of living is better to try to make money instead of throwing it away.
Well you're going to eat the settlement costs when you sell. I just don' think you're going to realize enough appreciation to cover that, plus interest, plus property taxes in 3 or even 5 years. I did, but it was half planning around the aftermath of the financial meltdown and half extreme luck. But this isn't 2010 or 2011 anymore.
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Old 04-04-2015, 12:07 PM
 
1,310 posts, read 1,509,915 times
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Do you specifically want to live in a rowhouse? How about Ednor Gardens or Medfield? Or, if a single family would work, how about a places like Original Northwood? Hamilton/Lauraville? None of these neighborhoods are super hip but they do offer a decent quality of life for an affordable price (and a mortgage payment that would be way lower that renting in the same neighborhood.) Still, in order to have a purchase like this make sense, you will need to stay for more than three years.
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Old 04-04-2015, 06:25 PM
 
757 posts, read 2,553,579 times
Reputation: 283
Quote:
Originally Posted by AvidThinker View Post
Hi,

I'm looking to buy a house in Baltimore but am stumped on where to buy. I am starting a family so I want somewhere safe for us but affordable as well. I've searched all over but it's been a tough process as I know we only plan to stay for 3-5 years. I want to make sure we buy in a decent area that will easily resale. Any ideas of areas like this in Baltimore City?

Thanks in advance!
If you're only planning to stay 3-5 years, it makes absolutely no economic sense to buy a house. You're almost certainly going to lose money.
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