How would you start out?
Hello to everyone in the community!
My wife and I are trying to get into real estate. We are eyeing properties in our area while trying to educate ourselves as much as possible. I am beginning to connect with an agent (going to look into more agents as well) however we are definitely a little overwhelmed. We spoke with a lender and got pre-approved however here is a little insight on our situation.
We have money saved up for a down payment however we are still renting ourselves! We live in a nice downtown area in the Maryland suburbs of Washington DC and love the community and the area. We are not sure what the future holds for us and we may not be living in this area for much longer, maybe moving in 2 years or so. Speaking with the lender, they of course recommended purchasing our own place and renting it when we move, house hacking, etc, especially with the current rates. The cost of living in our immediate area is very high and multi family homes seem to be sparse. Lots of apartments/condo buildings. We really do not believe moving would be best for us at this moment in our lives and we are actually very happy with where we live.
We are looking at single family homes and condo's mostly. I would love to hear what others think, recommend and any general advice for a newbie. Thanks!