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Washington, DC suburbs in Maryland Calvert County, Charles County, Montgomery County, and Prince George's County
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Old 04-10-2008, 09:28 AM
 
7 posts, read 30,488 times
Reputation: 10

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I am mid-20’s and looking to buy a 1 or 2 bedroom condo in the Germantown – Gaithersburg – Rockville area. I work near American U off the red line, and currently live in Gaithersburg and drive… the commute isn’t bad considering my hours. Obviously the closer to DC the better, but this is why I’d consider somewhere like Germantown to get a nicer place for less $$.

I am looking for a newer condo complex… places like King Farm jump out, but they seem overpriced. I’ve also considered the Ashmore at Germantown, which is new and very nice…the downside is that it’s far away. Are there any other condo communities you would recommend? What are the pros and cons of buying and living in any of these areas? Ideally I want to spend around 250k. Any advice and tips you can give a first time home buyer would be great
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Old 04-10-2008, 10:57 AM
 
Location: Maryland - Howard County
195 posts, read 656,469 times
Reputation: 60
Now is a great time for a first time homebuyer! Prices are great and Sellers are ready to sell. Sellers are more willing to give closing help and you have the opportunity to do home inspections (in the past couple of years people were waiving inspections just to get the home!).

It's great to get ideas from people on the board who know the area but I would also contact a Realtor who knows the Montgomery County area who will be able to guide you through the first time homebuying process. If you plan on having a mortgage I would definitely contact a lender. Lenders have really tightened the restrictions so it's a good idea to find out how much you qualify for and what you'll actually be paying each month - before you jump head first into purchasing. If you've already done those things, then great!
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Old 04-11-2008, 06:34 AM
 
7 posts, read 30,488 times
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Thanks for the reply! I do have a realtor and a lender, and am pre-approved.

Is it worthwhile to go to more than one lender, or is there a way to ensure I'm getting the best mortgage? I'm also wondering if there are any MoCo first time buyer programs that would be better?

Thanks!!
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Old 04-11-2008, 07:08 AM
 
Location: Maryland - Howard County
195 posts, read 656,469 times
Reputation: 60
I would say it does not hurt to get a second opinion. Just be careful if someone is offering you very very low rates - there are probably hidden points or they won't get you to the settlement table. I'm sure you're in good hands with your Realtor and he or she will make this process very smooth and easy for you.
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Old 04-11-2008, 07:31 AM
 
Location: Metro Washington DC
12,553 posts, read 18,921,472 times
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You probably already know about the Kentlands in Gaithersburg. Just down Grat Seneca hwy (towards Muddy Branch) there is another group of Condos that you might look at.
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