Montgomery County Homes- Detached, Town-Home, or Condo?

Are you one of the many first time home buyers who are just getting started? Has the tax credit lit a fire underneath you and sparked an interest in buying? Does the high inventory and low prices have you curious as to what you might be able to buy? You're not alone! I have spoken to an unheard of amount of potential buyers who are really just getting started and don't really know what style of home they want or can afford.

In Montgomery County you have many different options. From the standard detached(Single family) home/town home to condo style TH's, condo's, duplex style homes, and more. What can you afford? Well, if you yearn for the yard and some privacy you may be able to get a detached home in certain areas for under $250k. If you want to go as far north as Germantown you may get a detached home with some age(15+ years old) and will definitely need some cosmetic repairs at the least. There are also a large number of smaller detached homes built in the 1950's and 60's in Rockville, Wheaton, Takoma Park, and Silver Spring that may fall into that price range.

Town Homes vary so much in age, style, and size that you could get one for around $150,000 or one for upwards of 1 million depending upon the location. Some of the upper end TH's have elevators and 2 or 3 car garages. The most notorious TH's are located in the new "Park Potomac" subdivision. You may have seen this development driving on I-270 near the Montrose Road exit. On the other end, you can find tons of smaller TH's varying in price all throughout the county.

If you're the buyer who wants no exterior maintenance, doesn't need or want a lot of space, and may have a limited budget than a condo is a great option. Even if you don't have a limited budget but want a nice condo, Montgomery County can accommodate thoroughly. From brand new high end condos in Bethesda, Rockville, & Silver Spring to affordable older condos all over the place. Much like TH's. However, when buying a condo you must always keep the condo fee in mind. You do pay a premium to have all the exterior areas, common areas, and amenities maintained. Some may include a few utilities, but it is always a case by case basis.

So, if you're just getting started and considering your options contact a loan officer and real estate agent first. The loan officer will be able to show you want you are approved for and are comfortable paying. The agent can help you weigh the pros and cons of all of your options. of course, the loan officer and agent will do much more than that, but that will be the first step in your process. Good Luck to all!

Ben White, Rockville Agent