Buying [NO HOA] Homes in Montgomery County MD
Many people wonder if buying a home with HOA vs buying one without it will make a difference in future appreciation.
The answer will always be: Depends on the location
In some areas of Maryland, having a NO HOA home will not make a bit of difference in future appreciation of that home meanwhile.
There are areas located within Montgomery County that homes without HOA are very rare indeed and having no HOA could be advantageous as the property comes into the market.
Why do people look for homes with no HOA?
It is a general preference, some people do not like to be told what they should do with their property, any improvements or changes to the house need to be approved by the Home Owner Association. Fines can also be placed against a property for broken rules.
Another reason for non-HOA homes being beneficial for its homeowners are fro people that drive industrial cars/trucks. In general, HOA's do not allow the parking of industrialized vans/truck within the boundaries of the neighborhood.
Today, I want to talk about which homes appreciated the most?
Home values have risen dramatically over the last twelve months. The latest Existing Home Sales Report from the National Association of Realtors puts the annual increase in the median existing-home price at 7.1%. CoreLogic, in their most recent Home Price Insights Report, reveals that national home prices have increased by 6.9% year-over-year.
The CoreLogic report broke down appreciation even further into four different price categories:
1.- Lower Priced Homes: priced at 75% or less of the median
2.- Low-to-Middle Priced Homes: priced between 75-100% of the median
3.- Middle-to-Moderate Priced Homes: priced between 100-125% of the median
4.- High Price Homes: priced greater than 125% of the median
Here is how each category did in 2016:
The lower priced homes (which are more in demand) appreciated at greater rates than the homes at the upper ends of the spectrum.
Hi, my name is Fernando Herboso and my focus is on taking the time to help you find the right home for you and your family
I am sincerely interested in my client's problems and my focus is to help them solve it..
I promise to take the time to understand who are you?
What's important to you?,
What are your goals objectives and preferences?
Please call me at 240-426-5754
or email me at Fernando@ReallyNiceHomes.com