Stacey-Ann's Blog

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Renting a 1 bedroom vs. Buying in PG County, MD

PG County, MD is one of the many places in the country where it is actually cheaper to buy than rent a home.

For people who are qualified to purchase this is a good time to buy a home in PG County, MD.

In Prince George's County the average 1 bedroom unit for rent is $1200/month with prices ranging from $750 to $2150 depending on location.

In Prince George's County the average 1 bedroom unit available for sale is $98,000 with units ranging from $19,000 to $328,000 depending on location.  

A purchase price of 98,000 would mean a monthly payment of approximately $800 (this number will vary depending on purchase price, loan program, down payment amount, interest rate, taxes, property insurance, and any condo or HOA fees).


A purchase price of $100,000 may even get you something much larger than a 1 bedroom unit which means you may be able to buy a larger home than you would be able to afford to rent.

 

PG County has several homes currently for sale under $100,000




If you or someone you know would like information about buying, selling, or renting a home in Prince George's, Montgomery,  Charles, Calvert, Anne Arundel, Howard, and/or Baltimore Counties please contact Dr. Stacey-Ann Baugh of Century 21 New Millennium.

 

Search Homes for Sale

 


Donations made to charity with every successful closing!


Dr. Stacey-Ann Baugh

Century 21 New Millennium

www.LiveinPGCounty.com

staceyannbaugh@gmail.com

240-481-3565 (C)

202-546-0055 (O)

 

FINALLY!  A DOCTOR WHO MAKES HOUSE-CALLS!

 

Information deemed reliable but not guaranteed! 

 

 

 

Comment balloon 6 commentsDr. Stacey-Ann Baugh • August 10 2011 07:57PM

Comments

Now, that's a Great Reason to Buy vs Renting. Call Dr. Stacey-Ann Today to help you find that One Bedroom home that will be less than renting.

Posted by Jerry Newman, Texas REALTOR, San Antonio Military Relocation (Brown Realty, 210-789-4216,www.JeremiahNewman.com) about 7 years ago

Hello Stacey, Renting a 1 bedroom vs. buying in PG countiy, MD seems like a no brainer.  Sometimes it just makes sense...although I just saw rates today of 3.875%...wow, can they get any lower than that?

Posted by Nick T Pappas, Madison & Huntsville Alabama Real Estate Resource (Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Huntsville AL) about 7 years ago

Hello Stacey and I have to agree with you on your post, but the homes values in Vegas (might) be going down between 10-20 percent by winter so would you still suggest purchasing vs renting?

VB ;o)

PS - You have 12 months tops to visit Lake Tahoe, it will be a vacation you will never forget!

Posted by Robert Vegas Bob Swetz, Las Vegas Henderson Homes for Sale (Realty ONE Group) about 7 years ago

Stacey,  The Key "IF YOU QUALIFY"!  Many renters don't think they can qualify for a mortgage. They just may be surprised at what they find out once they speak to a qualified mortgage lender!  If you don't know where you stand, you can't know where you are going!

Mortgage Mama

Posted by Bridget "Mortgage Mama" McGee, Maryland Mortgage Mama NMLS#196068 (SWBC Mortgage 410-960-2061) about 7 years ago
It sounds like a no brainer to me! Why rent when you can OWN for so much less?!
Posted by Joni Bailey, Your Huntsville / Lake Livingston Area REALTORĀ® (Berkshire Hathaway Home Services - Anderson Properties) about 7 years ago

Stacey Ann- We are seeing that in AA County too. The townhouse I have open this weekend is one such case. You can have a montjly mortgage payment for less than what rents are going for in Piney Orchard. Amazing. But as Bridget says buyers have to qualify. My thought is many more do than even try.  

Posted by Martha Brown, Your Homes Around Annapolis Agent (Long & Foster Real Estate, Inc., Annapolis MD 21403) about 7 years ago

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