Investments in Bethesda-Chevy Chase and D.C.

About Bethesda and Chevy Chase

wesellmd — Wed, 23 Apr 2008 15:10:40 +0000

Bethesda and Chevy Chase are desirable communities to many people who want to buy homes in the Washington D.C. Metropolitan area simply to be close to transportation, restaurants, shopping and entertainment venues. For many people who work in the city, the commute from Bethesda or Chevy Chase is very easy via METRO or by driving. Two Red Line Metro stops are within walking distance from many neighborhoods. There are shops, movie theaters and restaurants galore in downtown Bethesda and Friendship Heights in Chevy Chase. For those who work in Virginia and other parts of Maryland, these communities are easily accessible from I-495 and I-270. Both National and Dulles airports are close by as well. As a matter of fact, Fortune Magazine recently ranked Bethesda as one of the top 5 places to live.

Location is always important when selecting a home to purchase. Places like Bethesda and Chevy Chase are highly popular not only for their proximity to Washington D.C., but also for their well respected schools. It is important to check out the area you want to live in by visiting schools, shopping and entertainment areas, and considering the length of your commute to work. Your time is valuable and the easier it is for you to get to work and home, the less stressful your life will be. With more leisure time, you can enjoy the shops, restaurants and theaters that are nearby.

Single family homes in Bethesda and Chevy Chase can range in price from $500,000 to the sky’s the limit, and can be as luxurious, simply elegant, and/or family oriented as you may desire. There are also townhouses and condominiums in these communities. Each property is as unique as you are!

Creative real estate ideas come in handy if you want a home at a good price. Once you understand a little bit about purchasing a home, opportunities will open to you. When you see a home for sale you want, you won’t turn away thinking you can not afford it. Instead, you will think of ways to buy it.

It all begins with studying the markets, which we do on a daily basis. You should see all the properties, in your price range that suit your needs, to get a better understanding of the Bethesda and Chevy Chase real estate markets. Once you get to know the markets, you can more easily spot the good deals and know which is the best house for you. We will identify and show you as many properties as possible until you find the one that is your “dream home”.

Thinking of building a new home?

wesellmd — Sat, 16 Feb 2008 18:59:59 +0000

Whether you are thinking about building a new home on a piece of land or tearing down your existing home and building a brand new home, there are things you need to know. The way to think through the financials is to take a look at your baseline cost. In todays market, the cost of building a house is anywhere from $150.00 to $235.00 per square foot. This price depends on what finishes you are going to select. Before you start to consider building a new home on your existing lot (removing your existing home), you must find out how much your current home will sell for in todays market. For example, if your current home is worth $600,000 and you are planning to build a 4,000 square foot luxury home (not including the basement) at $200 per square foot, you should expect to spend around $800,000. Often, there are costs a home owner fails to consider when estimating the cost of construction including the architects, contractors fee, municipal permit fees, temporary fencing fees, disposal and hauling fees, and landscaping costs. Also, you need to live somewhere in the year that your house in under construction. You can add another $35,000 (at $3,000 a month) for rent, assuming the project will be finished within 1 year. There is also the time (how much your time is worth) that you will be spending for the project. Once you have a detailed budget for your new home, you may have a better idea of what the tear down and new home will cost, which will help you find out where you are financially after you build your dream home. If you can afford the cost of the building and you’ve lived in the neighborhood for 10-20 years, you will enjoy the benefit of your new home. That has a value to it and may not be monetary. In the end, when you sell the home, it should be of a construction type and quality similar to homes in the neighborhood to reap the benefits of the newer, larger, more modern homes. Builders have a general guide for tearing down in some neighborhoods. The land cost is about 1/3 of the final cost of the house. For example, if the land costs $600,000, the builder figures he needs to sell the home for $1.8 million. Typically, the profit is 10-15 percent, so the house would cost about $800,000. The builder also has to carry the cost of the land and hopes to sell the house quickly. Also, you have to add the realtor fees and transfer and recordation taxes to the final sell price. Please let me know if you have any questions about any information I have provided, thanks!

Welcome :)

wesellmd — Tue, 12 Feb 2008 00:49:33 +0000

Welcome to my blog! I hope you enjoy all of the information listed here. Thanks and feel free to browse and post at your pleasure. Joe Faraji