My wife and I are looking to move to Maryland in the upcoming years. We know we will be there for a few years but not forever. The area I will be working is Camp David. I plan on buying a home to live in but eventually become a rental property when we leave. I’ve never bought a home before and have basic knowledge of the rental business after reading a few books and speaking with realtors.
My question is, what is a good place in the surrounding areas that you could suggest? 1) for living and 2) for renting later.
I’ve been looking at Frederick, Hagerstown, and Thurmont as well as even Waynesboro to travel across state lines depending on taxes and overall costs.
Our key features are, schools of course, quality of life, things to do, as well as statistical data for appreciation and rent/own ratio.
Thank you all in advance and I look forward to the future!
Frederick is the fast growing city in Maryland. I'm currently looking for a rental purchase in frederick and its a pretty hot market and inventory for good deals is limited. I would take a look at Urbana right outside of Frederick proper. It's got the best schools in the area and is right of i270.
I second Frederick County and For schools would focus on New Market (East) Urbana (south) and Middletown (west).
@Anthony Triano it just depends on your exact criteria, price range, etc... Washington county has some good areas and there tend to be more deals in this area; however, schools aren't quite as good (on average) as Frederick County and it is growing less. Frederick county is definitely more pricey but is also closer to the larger markets of DC and Baltimore. Washington county has a large blue collar workforce but does have a few desirable areas with good schools as well (Smithsburg, Boonsboro and North Hagerstown High are pretty good schools). I attended Williamsport High but I've heard they redistricted a little bit and it isn't as desirable anymore. Outside of that, the Waynesboro/Greencastle area is solid but the population and job markets is much lower than that of Hagerstown/Washington County.
Thurmont is more backwoods and there are rumors that there is a strong racist group presence in the area (just rumors though). It's definitely a beautiful area though with Cunningham Falls nearby. The school there (Catoctin) isn't bad but isn't diverse - they usually have a good football team though lol
@Anthony Triano I grew up in Frederick and my mom still lives there -- you probably won't have any trouble finding tenants there, especially if you stick below Thurmont (as Benjamin said, it's more rural and further away from the population centers). You'll pay a premium though, COL is a little more expensive than even Baltimore.
@Anthony Triano Take a look at Dearbought in Walkersville. Lake Liganore would be another. A lot of Lake Liganore feeds into Oakdale high school which is a great school. Urbana is of course an awesome place to live, but the prices of homes are becoming like Montgomery County prices.
Frederick, Monrovia, New Market and Lake Linganore are where Id be looking. I usually advise against Urbana duento the CDA tax. Monrovia offers all the same benefits of Urbana without the CDA tax.