Property investments are at the top of the investment hierarchy. These are the most profitable investments you can find if done right. Moreover, these investments often require a lot of research and attention. Spending a large amount of money on a home or property that might not be worth it can induce high levels of stress. Therefore, you should focus on finding the right property at the right place and time. It seems a bit difficult, right? Well, worry not. Today, we are talking about the best places to buy a vacation home in MD that will be worth investing in. Later, you can hire A2B Moving and Storage to help you relocate your belongings and settle in. However, relocating will be the easy part of this process. Finding the perfect vacation home is what might cause you headaches. Allow us to make it easier for you.
Some facts about Maryland real estate market in 2022
If you are buying real estate mainly as an investment, the first step should be getting to know the market in detail. The real estate market indicators we will talk about are year-over-year appreciation rates, available listings, and the average home cost.
Year over year, real estate appreciation is around 14%, one of the states’ greatest appreciations. The average price of a single-family home as of July 2022 is around $399,00, with vacation homes being pricier. The number of new listings fell down considerably when compared to 2021. This year, there were 9, 898 new listings in July 2022, which affected the average price and the time a home is on the market.
In Maryland, real estate goes off the market pretty quickly. From the day a home is listed, it stays on the market for an average of 8 days before it gets snatched up. That means you might be hiring furniture movers MD even sooner than you think because the market moves quickly, and so should you. Low supply and high demand are the keys to high average home prices. That is the main reason why people are buying up homes quickly and why the prices are high. However, that also means that the value of your home will likely appreciate in a short amount of time, making Maryland one of the best places to buy a vacation home for investing.
Places to buy a vacation home in MD you should consider
Maryland is a wonderful state that many people call their home. It is a lovely place for nature lovers, who spend most of their time outdoors. Furthermore, the state is full of diversity and is close to some major cities. The state of Maryland has around 6.045.700 people living in it. The median household income is around $70.000. However, the housing is a bit on the expensive side. Nonetheless, this does not mean that finding real estate in this area should be difficult. Today, we talk about:
- Rockville
- Gaithersburg
- Baltimore
- Ocean City
- Bethesda
- Frederick
Maryland has some amazing housing options for many people. Although a bit expensive, these properties will surely be worth the investment. If you want a property, you can rent out or someplace you can use as a vacation spot, it will be a worthwhile investment. Let us talk about where you can buy a home in Maryland and put movers Maryland on hold for now. We chose these cities either for their investment opportunities or great location, so we are sure you will find that buying a vacation home in one of these cities will be a great decision.
Rockville
Welcome to Rockville, a small town in Maryland with 68.000 residents living in it. Rockville is an urban-suburban city in which 55% of the population owns a home. The number would be higher if the housing price were lower. However, the median house value in the area is around $ $600,889 in 2022. Moreover, more than half of the listings sell over the asking price. This means that the housing market in Rockville experiences high demand. Due to the rapid growth of the city, houses are always in demand, which of course, increases home prices.
Furthermore, many people started moving to Rockville for work, which made the market so strong. On the other hand, the median household income in the city is $111.797, almost double the national average. Rockville is one of the best places to buy a vacation home in MD if you plan to rent that house outside of the vacation season. So, contact local movers MD and schedule your relocation on time. After that, you can look forward to spending your vacation visiting Lake Needwood, Rock Creek Regional Park or the Meadowside Nature Center.
Gaithersburg is one of the best places to buy a vacation home in MD
Are you looking to buy a home where you and your family can enjoy the vacation together? Are you in search of a place where you can feel safe and know your family will have a fun time? Well, look no further than Gaithersburg. Moreover, consider hiring movers Gaithersburg, MD, to help you relocate your belongings to your new vacation home once you find it of course. Namely, Gaithersburg is a Maryland town with around 68.000 residents. In Montgomery County, Gaithersburg is an idyllic place for a family lifestyle, even if it means visiting once or twice a year.
Furthermore, Gaithersburg is one of the most diverse towns in Maryland and is very suitable for families. The median home value is $524.200, while the median rent is $1.996. The year-over-year appreciation rate is one of the highest in the state at around 16% over the past year. Gaithersburg will offer your family great places to eat, drink, have fun, and much more.
Baltimore
We have to talk about the biggest city in Maryland! Namely, the city of Baltimore is an excellent place to invest in property. There are around 609.000 residents living in this urban-suburban mixed area. The median home value in the city is $210.000. Furthermore, around 52% of the population is owning their homes in Baltimore. If you are interested in renting the home when you are not using it, the median rent in the area is $1.380. Moreover, the good economy of the city makes the housing market very stable. However, this does not mean you should buy the first house you run into. Instead, use the fact that it is a stable market and make a smart decision. Look through a couple of houses first, consult your real estate agent, and conclude.
Ocean City
If you imagine your ideal vacation near the beach, then Ocean City is your best choice. Ocean City is a small town, with around 7.000 residents, on the coast of the Atlantic Ocean. The best way we could describe this area is that it has a small-town vibe with big-city attractions. Although the town has around 7.000 residents, it welcomes over 8 million tourists each year. It offers classical resort-style living with plenty of restaurants, golf courses, parks, and accessible beaches.
Ocean City is one of the finest places to buy a vacation home in MD because your home can easily be a short-term rental when you are not around. Due to the high influx of tourists, this location makes a perfect option for investment returning options like renting. Ocean City can be a great choice whether you are planning on going there with your family, with friends, or by yourself.
Bethesda
Bethesda is one of the most popular cities in Maryland for vacation homes and real estate investing. The median home price in Bethesda is $1,124,736. However, the annual appreciation of homes is around 4%, which is lower than in Maryland. But this is only because Bethesda is one of the most expensive real estate markets in Maryland and the entire US. Almost half of all homes are single-family detached homes, making it a popular destination that movers Bethesda MD, frequently move families to.
While the appreciation rates are lower than in almost 90% of cities in the US, it should be noted that it is not the same in all Bethesda neighborhoods. One of the neighborhoods with the highest appreciation rates is Wildwood Manor. It is a relatively small neighborhood with a population of over 2000 people. Being close to Washington DC, it is a popular vacation place among the DC elites. If you end up deciding on Bethesda as your favorite place for a vacation home, you will have plenty of activities to spend your time in, with our top favorite being visiting the Strathmore Theater, which has an amazing international repertoire.
Frederick
This Maryland city could be one of the best places to buy a vacation home. While it’s not too big of a city, we know that you can’t get bored here. Not only that, but it’s a perfect place to charge your batteries. The median home value is low at around $277,300, making it also one of the more affordable cities in Maryland. What makes this city a popular moving destination, according to movers Frederick MD, is that it has great public schools, is generally a great place for young professionals and it’s one of the most diverse cities in Maryland. It is a city with great nature and amazing history, making it perfect for all history buffs.
If you’ve ever visited Frederick, you know it has one of the best museums in the state, from the National Museum of Civil War Medicine to the Fredericktown (Hessian) Barracks. And who doesn’t like spending time in nature when vacationing you can in over 90 local and state parks. All the ways you can spend your time in Frederick make it the best place to buy a vacation home. After all, you should spend your vacation in your home doing the things you love, and what’s not to love about the historic city of Frederick?
Bottom line
Buying a vacation home, as you can see from our picks, is about two things. The first one is buying a home where it can be used as an investment property, either through renting or reselling after some time. If that is your main reason behind buying an investment home, some of the best places to buy a vacation home in MD, other than the ones we mentioned, could also be Mount Rainer, Brentwood, and Cottage City.
However, one of the best places to buy a vacation home in MD should include plenty of opportunities to spend time the way you love. Bethesda is your city if you can’t live without the fine arts. If you are a history buff who loves visiting museums and spending time learning, then without a doubt, you will love Frederick. And if you have kids or just like having fun, you won’t miss buying a vacation home in Ocean City. Either way, if you haven’t found your perfect city among the ones we choose for you, you should have these two specific things in mind when trying to find the best vacation place in Maryland.
