These are just two pieces of significant information that Eva learned when planning a work-related move to the area. During her research, Eva also found our website here at Akin Developers and contacted us for additional assistance.
After 15 years with the same company in Lexington, KY, Eva applied for a promotion to the company’s corporate headquarters in the Baltimore-DC Metropolitan Area. When she received notification that she was among a small group of candidates who were being scheduled for a second interview, she got serious in her research for housing options.
What Eva found, was that homes comparable to her own were selling in the area of Lexington, KY for between $350,000 to $360,000. But, in searching real estate websites for the Baltimore-Washington DC area, Eva was seeing homes very similar to what she currently owned ranging in price between $500,00 to $800,000. Although the mortgage was already completely paid off and she had a clear title for her current home, it wouldn’t come anywhere near purchasing a home outright in the new location.
That is when she called us at Akin Developers for additional information on a few of the homes we had for sale in the area.
The Basics About the Baltimore-Washington DC Metropolitan Area
The Baltimore–Washington Metropolitan Area, as defined by Wikipedia, is a combined statistical area consisting of the overlapping labor market region of the cities of Washington, D.C., and Baltimore, Maryland. The region includes Central Maryland, Northern Virginia, three counties in the Eastern Panhandle of West Virginia, and one county in South Central Pennsylvania. It is the most educated, highest-income, and fourth-largest combined statistical area in the United States.
The Census Bureau’s 2020 data states that the population of the 12,630.2 square-mile area is 9,973,383. Washington, D.C. is listed as the most heavily populated city in the area with 689,545 residents.
And, according to Fox 5 D.C., Washington, DC is now the fourth most expensive city to live in in the United States. The average home price there, according to Zillow, is more than $636,000.
All of this basic information convinced Eva that she should widen her search beyond just Washington D.C., but still stay within the Baltimore-Washington, D.C. area. Because she would only be required to work from the office one day a week, working from home the other four, she was comfortable with searching a little farther out. At Akin Developers we had a few homes for sale in the areas she was interested in. She told us she would be traveling to the area the next week for her second interview and we were able to schedule walk-throughs with her for all of the homes while she would be in town.
Eva was offered the position in the company’s home office following her second interview. She walked through four of the homes we had for sale in her preferred areas and called us the following week to revisit two of the homes so she could make a final decision. Her home in Kentucky was a 3 bedroom, 2.5 bath home with just over 2400 square feet of living space. She made the decision to purchase a 2 bedroom, 2 bath home with 1800 square feet of space because it still gave her a second room for a home office while keeping her mortgage payment lower. She said the final deciding factors were quick and easy access to the freeway and the cute kitchen with its sunny breakfast nook!
Important Facts to Remember
The Baltimore-Washington, D.C. Metropolitan Area is comprised of more than just Washington, DC. If you are in the market for a home in the area, whether as your own residence or as an investment, be sure to check the surrounding areas.
Be prepared for high prices, but keep an eye on rising home appreciation values too. If you are moving into the area from a more rural location, you will almost certainly experience some sticker shock. However, the Baltimore-Washington, D.C. Metropolitan Area is home to the Nation’s Capital, a vast array of museums and theaters, and a lively music scene. There are also government and private-sector jobs covering a wide array of industry, media, and even sports. The area is also culturally diverse, hosting more than 175 embassies and international cultural centers. So the area truly does offer something for everyone, which keeps the housing market active.
The Baltimore-Washington, D.C. Metropolitan Area offers countless employment, entertainment, and educational opportunities. There are plenty of housing options as well. If you are looking to move to the area, contact us at Akin Developers and we can assist you in finding the right home for you.