Lutherville Timonium vs Perry hall (Baltimore, Towson: apartment, foreclosures, rental market)

[nepluv]

Hello all,

I was looking at Perry hall area as I was renting in Rosedale untill now but looked at Lutherville Timonium today. My wife works at Union memorial Hospital in Charles Village. My budget is around 250-300K. I was hoping to live for two years and then rent out so I am mainly considering single family houses. I don't know how strong of a rental market Lutherville has .
Wanted to get more info about a neighborhood I saw in Lutherville . Adv Subdivision: Towsonvale Leg Subdivision: TOWSONVALE . The houses I saw were on Dublin Drive , Othoridge drive.
It's right outside 695 and has lots of old construction but it fits are needs. We are a young family with a 18 month old.

Please feel free to guide us.

[Digger 68]

Originally Posted by nepluv

Hello all,

I was looking at Perry hall area as I was renting in Rosedale untill now but looked at Lutherville Timonium today. My wife works at Union memorial Hospital in Charles Village. My budget is around 250-300K. I was hoping to live for two years and then rent out so I am mainly considering single family houses. I don't know how strong of a rental market Lutherville has .
Wanted to get more info about a neighborhood I saw in Lutherville . Adv Subdivision: Towsonvale Leg Subdivision: TOWSONVALE . The houses I saw were on Dublin Drive , Othoridge drive.
It's right outside 695 and has lots of old construction but it fits are needs. We are a young family with a 18 month old.

Please feel free to guide us.

If you plan on renting it out Perry Hall. If you want to stay Perry Hall. It's going to be tough to get anything in Lutherville, Timonium, or Cockeysville for that kind of money. Only possibly a Townhouse.
Part of Perry Hall can be nice. I think you can do better over there than here.
I am trying to figure out what you are getting on Othoridge. That's pretty nice. You sure you are not buying one of the typical post war houses? Meh, not sure. That's right near Old Lutherville. Just sounds a bit cheap for that area.

[goldenage1]

Originally Posted by nepluv

Wanted to get more info about a neighborhood I saw in Lutherville . Adv Subdivision: Towsonvale Leg Subdivision: TOWSONVALE . The houses I saw were on Dublin Drive , Othoridge drive.

The only ones I am seeing in that price range are estate sales, foreclosures and auctions. The house on Dublin Drive backs up to I-695, and I would not buy it because of the potential noise level. Otherwise, are you prepared to deal with a foreclosure or auction? A couple on Orthoridge Drive in your price range were already sold in March or February 2016.

The neighborhood looks solid and respectable, although the houses are old enough to need work.

[seanlax]

Originally Posted by goldenage1

The neighborhood looks solid and respectable, although the houses are old enough to need work.

This is important. If you are looking to buy a house with an 18mo old, you are looking at least 10-15 years down the road right?

I'd say this neighborhood is right on the cusp of its next evolution. Could go downhill if properties sit unkempt, in disrepair, and the rental market stays too strong. But it could just as easily go the other way; extensive repairs and renovations to 'reinvigorate' the neighborhood along with a large pool of First time homebuyers (just like you).

Hard to say. Anyone know someone that lives in the neighborhood? That would be a good indication of what's next.

Anyways, what a great price + location for Baltimore County!

[nepluv]

Originally Posted by Digger 68

If you plan on renting it out Perry Hall. If you want to stay Perry Hall. It's going to be tough to get anything in Lutherville, Timonium, or Cockeysville for that kind of money. Only possibly a Townhouse.
Part of Perry Hall can be nice. I think you can do better over there than here.
I am trying to figure out what you are getting on Othoridge. That's pretty nice. You sure you are not buying one of the typical post war houses? Meh, not sure. That's right near Old Lutherville. Just sounds a bit cheap for that area.

Another house came up on cavan drive but it was 10 days ago and it was gone in two days ! I guess it was for 240K . Nothing fancy but I see most of the houses are from early 1950's . Are Timonium school's better than Perry hall school's ? Atleast the school rankings indicate that but I don't know any one in the area who could shed a light on the good elementary, middle and high school's. It seems I might have to bump my budget a bit (Have been pre approved for more but wanted to keep the budget down so as to justify the potential rent down the road if we happen to move after 2 years or so).

[nepluv]

Originally Posted by goldenage1

The only ones I am seeing in that price range are estate sales, foreclosures and auctions. The house on Dublin Drive backs up to I-695, and I would not buy it because of the potential noise level. Otherwise, are you prepared to deal with a foreclosure or auction? A couple on Orthoridge Drive in your price range were already sold in March or February 2016.

The neighborhood looks solid and respectable, although the houses are old enough to need work.

You are right . Not much houses currently listed . Most of them are sold..lol.

[nepluv]

Originally Posted by seanlax

This is important. If you are looking to buy a house with an 18mo old, you are looking at least 10-15 years down the road right?

I'd say this neighborhood is right on the cusp of its next evolution. Could go downhill if properties sit unkempt, in disrepair, and the rental market stays too strong. But it could just as easily go the other way; extensive repairs and renovations to 'reinvigorate' the neighborhood along with a large pool of First time homebuyers (just like you).

Hard to say. Anyone know someone that lives in the neighborhood? That would be a good indication of what's next.

Anyways, what a great price + location for Baltimore County!

Thanks for that perspective about the location . You are right most of the houses are good 55-60 year old in that neighborhood. Since I don't know much about lutherville timonium. Which are the nicer neighborhood in Timonium for school's etc. I see that some are split between towson law and public policy and Dulaney .

[Alex1484]

With price range said, you will have your options very limited for a single family home. Most of them in this price range in the timonium area will be very small and may need some work as it will definitely put you in a older home. You will find more options in the towson area but it is a bit more congested and arguably not as good quality of education. Once again these will also be older homes and may need a little bit of work at this price range.

[davecj]

We ran into the same thing when my wife and I were looking at homes. Ultimately we went with Perry Hall. Schools are still top 3 in the county and the same 3,000 SF home that we purchased would have easily been 150K more in Lutherville. Plus the majority of the growth in the county is in Perry Hall and White Marsh.

[Digger 68]

Originally Posted by goldenage1

The only ones I am seeing in that price range are estate sales, foreclosures and auctions. The house on Dublin Drive backs up to I-695, and I would not buy it because of the potential noise level. Otherwise, are you prepared to deal with a foreclosure or auction? A couple on Orthoridge Drive in your price range were already sold in March or February 2016.

The neighborhood looks solid and respectable, although the houses are old enough to need work.

And they will need work. If they are considered historic you may get some state funds to help fix them up.

I think there is a small apartment community nearby, and there is a large ballfield nearby. I occasionally played ball there when I was a kid.

Again, I would check out Perry Hall.