Where and What in Baltimore?

[DXBtoFL]

First and foremost, you are limited by a 250k budget.

Even if your budget was 350, pickings are still slim.

Heck, even at 450k, pickings are still slim.

I recommend again Cross Keys as a condo complex that does have some townhouses. It's 10 minutes away from the hospital complex, it's predominately older people or singles with very few kids, and it's a pretty complex as well, with multiple pools and some covered parking. Inventory, as anywhere in the region at the moment, is the problem, but also keep an eye on the HOA costs. 6-700 a month is normal for a condo, around 400-500 for a 2-bed townhouse.

You may be able to find a townhouse a bit further afield in 21209 for 250k or less but condos are more likely, but once again, always keep an eye on the HOA costs.

I would avoid cheaper houses. Houses for less than 250 are going to be in transitional neighborhoods, very subjective to wild springs in a market (today is hot, but tomorrow may be cold), or major fixer uppers, or in areas where you may not feel welcome.

[MrRational]

Originally Posted by DXBtoFL

First and foremost, you are limited by a 250k budget.
Even if your budget was 350, pickings are still slim.
Heck, even at 450k, pickings are still slim.

I agree that you're not going to get all that you want and have single occupant privacy as well.

Find someone with the sort of place that appeals who wants (needs) a high quality housemate.
Pay as little as you can get away with; keep stacking up the savings for a higher down-payment later.
At some point you'll get to flip the deal if still inclined to, but you'll probably need a housemate too.
Then there are the romantic and sexual relationships that include this sort of financial set-up.
They're always worth exploring.


Frequently Cited Budgeting Approach (use your own numbers) :
From the stated $250,000 GROSS Income ...
deduct the Federal and State Income taxes
and the FICA deductions currently being paid .... .... 25%?
deduct the Save/Invest (&debt) commitment you've made ... 15%? more?
Is this close? $250,000 - 40% = $150,000 Annual NET Income or $2885 per week.

How many of these weekly net "checks" are you willing to commit to housing?
Of Note: A $400,000 mortgage will cost ~$2000 per month for P&I alone
and that heading includes ALL costs related to any specific housing choice.

That's the tough question for most. Your grandfather would probably tell you ONE.
12 weekly nets to cover the 12 monthly house bills (incl utilities etc). 12/52's 23%
Then you start budgeting for the other things you also want based off what remains.