300k budget for a town house in Columbia MD area, is it doable? (Baltimore: real estate)

[Niubee43V3R]

So we finally decide to buy our first property considering the incoming baby and maybe 4-5 more years of staying in this region. Currently we rented very close to the Mall in Columbia and it is an equal-commute point to my wife's job in baltimore and mine in white oak. My wife is a 1st year postdoc in JHMI, so she probably will stay about 4-5 years before she could have a nice resume for an industry/academia job, and to be frank, the job might not be in this region for her due to her biochem background.

Our budget is about 300k (our joint annual income is 130k unfortunately), and we wanted along rt 29 in Columbia/Ellicott City area for the convenience of commuting and everyday life. Currently I drive for 25 min along rt 29 to work and she could walk to the mall and take the commuter bus stress-free to JHMI.

A colleague of my wife's bought a pretty decent town house in King's Contrivance for less than 300k, and I do see some town house in that area 21046 listing close to our budget, but my realtor friend told me to forget about town house with 300k in a decent school zone (neighborhood) with only 300k in Columbia/Ellicott City.

Just want to get some input from you guys, where I should be looking at and if it makes sense to buy now.

Thanks in advance.

[goldenage1]

Originally Posted by Niubee43V3R

I do see some town house in that area 21046 listing close to our budget, but my realtor friend told me to forget about town house with 300k in a decent school zone (neighborhood) with only 300k in Columbia/Ellicott City.

I disagree with your realtor friend. I see a TH in the Guilford neighborhood at a shade under $300K, and the closest schools have above average ratings. I think you should look seriously at buying now, since a real estate recover is likely to begin.

[hiker16]

$300k is very doable. I bought in Savage (just outside Columbia) for that in early 2008-- jsut before the housing prices....plummeted.

[davecj]

Very doable in my opinion.

[gumbo31]

It is definitely doable. Maybe 5 years ago it would have been difficult, but now you can get a nice townhouse in Columbia for the high 200s.

[Niubee43V3R]

Which community should I look into. I'm leaning towards King's Contrivance for its convenience, since I have to commute to White Oak, and wife wants to still take commuter bus to Baltimore downtown. My agent recommends Dorsey Search area, but the school zone is tricky since the only available th there all belong to Wilde Lake High, while the King's Contrivance has a Atholton High which ranks much higher.

How's Hickory Ridge area, there are a lot of town houses within our budget, but no one seems to recommend that area (behind the hospital and between Ceder Ln and rt 29)

Anyway, been watching the housing for a while, but feel not many available properties fall into our criteria, also seems like people are rushing into the market with cash, a lot of pending contract ones.

[yaofuzhang]

I looked at Columbia for quite a while and I really like a couple townhouses south of howard community college. They are usually between 250,000 to 300,000 depending on the condition. The high school should be atholton, if it means anything to you.