Known for its prime location between Baltimore and Washington, D.C., Montgomery County hosts a unique real estate market. One of the wealthiest jurisdictions in the U.S., the area’s real estate arena is markedly different from others. Here are some of the potential financial benefits of selling your Montgomery County home in today’s market.
Proximity to Resources and Beltway Access
One of the biggest advantages of selling a Montgomery County home is that people pay a lot for location. Even if you’re not situated right next to a highway onramp, the fact that you’re in the area at all gives you the justification to sell your property at a premium price.
Due to their choice locations, homes here move fast. As a result, it’s generally easy to minimize your expenses during a property sale. When you can list and sell your home without waiting as long as you might elsewhere, you’ll find it much easier to avoid paying for protracted storage arrangements and forgo costly scheduling conflicts.
The Benefits of Life Inside the Bubble
The national real estate market still hasn’t fully recovered from the infamous housing crisis. Many areas continue to display depressed home values, and buyers often have difficulty securing funds.
Luckily for you, home owners in Montgomery County enjoy some degree of insulation from the fluctuations felt throughout the rest of the country. While prices aren’t as high as they could be, because the D.C. metro area boasts a wealth of government jobs and plays home to more affluent individuals, it may make it easier to sell your property.
What might be an outrageous asking price in other areas is totally reasonable here, and lending institutions are more likely to support buyers so that you get paid promptly.
Competing with Constant Development
New developments and condos continually pop up all over the D.C. metro area, but they present much pricier options to prospective homeowners. Those who own traditional properties can definitely take advantage of this phenomenon.
Even if you sell your home at a price point similar to what someone might pay for a condo next to the Silver Spring Metro, the fact that your offering perhaps a yard or other amenity makes it far more likely that you’ll close the deal successfully.
Saving via Lifestyle Changes
The fact that Forbes ranked Montgomery County as one of the top ten wealthiest counties in 2011 could be working against you. Selling your expensive home or condo now might afford you the opportunity to move somewhere a bit more frugal, especially if you’re trying to raise a family.
Living and childcare costs in the D.C. area are some of the priciest in the nation, and it’s quite possible that your budget woes simply boil down to where you live.
Please do not hesitate to contact us if you have any questions about selling your Montgomery County home.