Live or Work in DC? Considering an Exit? Let Your Dollar "BMore" in Baltimore

In the not so distant past, I had the good fortune to be a part of a wonderful company in the tech space based out of Clarendon, VA, which is right outside of Washington DC. Every Tuesday and Thursday, I would hop in my car and pray that the traffic gods would be kind as I drove from my home in North Baltimore City, down through DC and into Virginia. While I had taken the train in the past for meetings to NYC, the appeal of being able to get work done during my commute did not overshadow the general underwhelm I felt regarding Penn Station during that time.

Luckily for those currently living/working in DC and considering their options, Penn Station and the surrounding areas are getting the attention they deserve, in a massive way that is adding incredible value. AND it's happening right around the time we are seeing trends of residents exiting higher priced areas like our nation's capital in search of more fiscally palatable options.

So, why is it worth your time to give Baltimore, and specifically the neighborhoods around Penn Station, another look?

The neighborhoods around Penn Station are already benefitting from massive revitalization. Properties have been and continue to be beautifully rebuilt with high end finishes, above average square footage, and many even have private parking. If you're a little fancy and don't want to compromise on luxury, there are properties available that meet the same high standards, yet cost hundreds of thousands less than a similar property in DC. And of course, there is still historic, urban neighborhood charm.

Local established businesses are thriving, and more have chosen this area to put down roots or expand. And we are still in the early stages!

According to CoreLogic, Barclay for example, is ranked in the top 35% in the nation for investment security, and is a Rising Star on the appreciation index, indicating values are forecasted to appreciate 30% or more over the next 3 years.

Already home to renowned institutions like MICA and Johns Hopkins, and an epicenter of Baltimore's nationally recognized music scene, this cluster of neighborhoods continues to have exciting plans in place that project massive potential increases in value over time. Most notably, (and pay attention if you work in DC or New York!) the $150M+ commitment for phased transformation of Baltimore's historic Penn Station, to include a high speed platform, retail establishments and apartments. Read more about Penn Station's progress here.

Penn Station's monumental transformation is happening in phases. One of the more notable items in the very near future is the implementation of a high speed Acela platform, turning your commute into a cake walk. The property is also slated for retail and dining, as well as deluxe apartments.

If you are a savvy buyer who is excited about such positive potential projections, you understand why this is such an ideal time to get in. You value your dollar, want more for it, and want to see your investment be successful in the long term. Additionally, there are many city-specific financial incentives available that a property or buyer may qualify for (no, they are not all first time buyer or income-based).

Legally, I have to caveat that I am not a psychic medium and nobody can offer a 100% guarantee of the future. I can just share the information that I have and my own experiences, and invite you to check it out for yourself.

Believe me when I say I get the appeal of DC and why people enjoy living there. I can tell you from experience, you can still enjoy it. When I was commuting, I would often stay to take walks around Ladybird Johnson Park or Roosevelt Island, grab an appetizer with co-workers, or even catch a Caps game before heading home. I missed the chaos of rush hour, and still got to feel like I was a part of things without being house-poor. It's a win-win!

So, would you consider touring some Baltimore homes to see for yourself? I currently have this incredible listing available that is the Belle of Barclay, which, in my humble opinion, is a great place to start. This area has so much to offer now and long term. Talk to your agent, or get in touch if you don't have one. I'm always here to help.