Fort Meade MD area rental investment. Help please!

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Fort Meade MD area rental investment. Help please!

Yang Zhao
Member since 2019 · 4 posts · 0 votes

Hi all,

We are relocating to fort Meade area later this year. Current looking into housing options, preferring a house/townhouse with a garage and yard. It’s not very likely that we will make this area out forever home, but we may stay around for a couple years. My questions are:

1. What areas between DC and Baltimore will see a bigger rise in home price in the next few years than other areas? 
2. If we buy a house, what are the some areas where rentals are hot? 

We’ve been looking into Severn, Columbia and some other surrounding areas, mainly in the AA county. Annapolis seems a little out of our price range for what we want. Ideally want a commute less than 45 mins to fort Meade and a good neighborhood. 

Any suggestions will be appreciated!

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Ruth Lyons
Investor · Colorado Springs · Member since 2016 · 232 posts · 150 votes
5y

Good comments have been provided above. The housing shortage makes this a tough time to buy if you don't want to overpay (and who does?!). It may be prudent to rent a home your first year allowing you time to get familiar with the area and time for the market to properly balance before you buy. I am noticing signs that the market is slowly starting to balance in Maryland. Interest rates are starting to inch up squelching some of the demand and more inventory is coming to market with Spring temperatures kicking in.

As Norman commented, we need more information about what you're looking for to narrow your search area. Schools are much better in Howard county if you have children, for example. The Howard county side of Laurel should do really well in coming years.

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  • Joe Norman
    Property Manager · Baltimore, MD · Member since 2014 · 1k+ posts · 1k+ votes
    5y

    I think its important to identify what's most important to you first before narrowing down your search area. If you are looking for appreciation potential then I'd suggest closer to DC the better. If you're looking for future cashflow potential then you'll probably want to focus on SW Baltimore County/Northern AA county. If you're looking for "a good neighborhood" then that'll just depend on your lifestyle and what a "good neighborhood" means to you.

    Happy to help you narrow your search down if you want to shoot me a PM!

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    5y

    Is go with Laurel

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  • Sergio Toledo
    Rockville, MD · Member since 2017 · 10 posts · 6 votes
    5y

    Per my experience Laurel and Glen Burnie, but honestly the surrounding area of fort mead is nice and hot and prices are booming.  

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  • Andrew Einsmann
    Member since 2019 · 81 posts · 25 votes
    5y

    My comment is that if you are thinking about buying or renting it is a really aggressive market especially to buy. You will need to get a little creative when buying. Gone are the days that a standard Va or FHA loan will win a bid for a house. People are waiving home inspections and paying over appraised value. Rentals are a little easier but you have to move fast there as well to get a property in a "good neighborhood." There are lots of good neighborhoods around Fort Meade. If you need to know more just let me know.

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  • Ruth Lyons
    Investor · Colorado Springs · Member since 2016 · 232 posts · 150 votes
    5y

    Good comments have been provided above. The housing shortage makes this a tough time to buy if you don't want to overpay (and who does?!). It may be prudent to rent a home your first year allowing you time to get familiar with the area and time for the market to properly balance before you buy. I am noticing signs that the market is slowly starting to balance in Maryland. Interest rates are starting to inch up squelching some of the demand and more inventory is coming to market with Spring temperatures kicking in.

    As Norman commented, we need more information about what you're looking for to narrow your search area. Schools are much better in Howard county if you have children, for example. The Howard county side of Laurel should do really well in coming years.

    2Reply
  • Yang Zhao
    OP
    Member since 2019 · 4 posts · 0 votes
    5y

    Thank you all for the insight! We spent some time exploring the surrounding areas today and so far feel like columbia could be a good fit. The inventory seems really low though. Is it going to pick up as we go into spring/summer? Stopped by a few open houses. They all had people lining outside.

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    5y
    Originally posted by @Yang Zhao:

    Thank you all for the insight! We spent some time exploring the surrounding areas today and so far feel like columbia could be a good fit. The inventory seems really low though. Is it going to pick up as we go into spring/summer? Stopped by a few open houses. They all had people lining outside.

     Inventory has steadily been dropping for 5 years. We are now in a crisis mode with Inventory. I would not expect it to improve.

    Im Columbia, keep in mind the extra CPRA Fee. (Columbia Park and Recreation Association) This is something that often gets first time Columbia buyers by surprise, and if an agent doesn't do business there may not realize it.

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  • Yang Zhao
    OP
    Member since 2019 · 4 posts · 0 votes
    5y

    Thank you, @Russell Brazil! What causes the drop in inventory? Is this Columbia specific? Do you see a good potential in house price increase in Columbia or surrounding areas? 

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    5y
    Originally posted by @Yang Zhao:

    Thank you, @Russell Brazil! What causes the drop in inventory? Is this Columbia specific? Do you see a good potential in house price increase in Columbia or surrounding areas? 

     Its metro area wide, and really a nation wide drop in inventory. We have a critical housing shortage going on that is not likely to change.  Often we can pivot to new construction when we have housing shortages, but wood prices have tripled in the last year and steel prices have doubled, putting upward price pressure on new builds. 

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  • Jesamen M.
    Member since 2018 · 1 post · 0 votes
    5y

    @Yang Zhao you can look into Millersville, Odenton, Bowie, Crofton and Gambrills area. Typical prices for a townhouse with 3 beds 2 baths ranges between $195,000 to $300,000. They are pretty close 10 to 20 mins commute and have a very good neighborhood especially if you have children.

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  • Ray Slack
    Investor · White Haven PA · Member since 2014 · 362 posts · 221 votes
    5y

    IN my opinon Bowie has some of the best value for the money but most of the schools in Bowie are subpar to Anne Arundel county.  (a few elementary Schools are good but none of the middle schools or high schools in Bowie are any good) Crofton is higher priced  than Bowie and has a similar "Vibe" as Columbia.  Crofton also has a new high school that is set to be one of the best in the State driving up demand from Families with kids and therefore prices. 

    Oh and I guess I should add that if I was only going to be in the area for a few years I WOULD RENT AND NOT BUY. The market is crazy and IMHO inflated due to Covid. This area of Maryland has some of the highest transfer taxes and costs to buy/sell in the country that you would have to recoup with appreciate to break even for a sale in 2 years.

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  • Jean Castillo
    Rental Property Investor · baltimore, MD · Member since 2020 · 8 posts · 1 vote
    5y

    @Yang Zhao

    Check in Glen Burnie at Tanyard Springs. Properties have gone up in value anywhere from 30-50k in the last 3 years. A few new developments are popping up and thats bringing price up. Thats like 30 min from fort meade.

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