If you’re looking to live in the D.C. metro area, you may be considering whether to rent or buy. Many factors affect this decision, such as where you see yourself in five years, what type of lifestyle you prefer, the market, and of course, what you can afford. So, what are the costs of renting in D.C. vs buying in a neighboring area like Bethesda?
Whether it’s getting married, starting a family, kids going off to college, or kids moving back in, there are a range of events in life that typically impact living space needs. Does your current home offer the flexibility to meet your changing lifestyle? Do you need space for when your parents come to visit or for the college graduate who needs a place to stay before landing her first big job? All are great questions to consider.
Mortgage interest rates have climbed steadily since the first of the year. According to BankRate, the Fixed National Average for a 30-year loan has increased from 3.85 percent on January 1st, to 4.35 percent on February 21st, half a percentage point increase. Rates were last above 5 percent in 2011. To better understand these changes, we sat down with Joshua Jablonski of Wells Fargo Home Mortgage to gain his insight on what homebuyers and sellers can anticipate in the coming year. Josh has been lending to buyers in the DMV for the past 16 years.
Purchasing a new home is a big decision. If you’re considering a new townhome, there are a number of questions you’ll want to research to determine if a neighborhood is right for you.