Vizycal, Other/Just Looking in Chevy Chase, MD

How is the single family home rental market in Chevy Chase? I am thinking of buying now and renting out for a year or two before occupying the home

Asked by Vizycal, Chevy Chase, MD Mon Sep 28, 2009

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I believe that you might be asking about Chevy Chase, MD but just wanted to also point out that there is a Chevy Chase in DC also. Concerning Chevy Chase, MD, the rental market is strong in addition to the sales market. It is a location that is very close to the Washington DC boundary and the neighborhoods have excellent schools with very high ratings (note that some of the school are magnet schools for science and technology) and also because of its proximity to 495 and Bethesda. The community has Chevy Chase Sec 3, 4, 5 and Chevy Chase Village and the Town of Chevy Chase. There is a very sweet neighborhood market called Brookville Market on Brookville Road. Check it out!
0 votes Thank Flag Link Tue Aug 16, 2011
The rental market is great in Chevy Chase. You might consider an area like Kenwood Forest as a community to buy in since there is so much demand for rentals there. The homes are generally updated with nice kitchens, two to four bedrooms, two or three levels. You can check out my website, http://www.kenwood-forest.com for more information.
0 votes Thank Flag Link Fri Dec 17, 2010
Vizycal,
U r asking a loaded qs.
u already got a general answer that rental market in chevy chase is good.
All too often, people jump into this type of situation, with less than 100% analysis.
U need towork witha good buyer agent and a good loan officer to help u decide a plan(if it is workable).
rgds,
Ramesh handra
703 635 8209
mepcigroup@gmail.com
Saab Realtors Cor p
0 votes Thank Flag Link Tue Sep 29, 2009
Both of the first two answers are correct. But what you must think about is your situation now and what it will be in 2 years when you want to move.

Are you currently financially secure? Will your income handle you current bills with the addition of a new mortgage? (With new lending practices, you will not be able to count any income from the rental, so you must qualify in your current situation) Are you looking now to find a great deal, but will be a long term investment, or will you be moving out of the property within a few years? Are you wanting good cash flow as a rental or just break-even since you will move into it?

You should take the time to talk with an agent knowledgable in the area, market conditions, and your goals-then armed with that information talk with your financial adviser to get a good list of pros and cons for buying now vs buying later. Educate yourself and utilize the expertise of others so you can make a good, solid, well-informed decision.

Best wishes on your venture.
0 votes Thank Flag Link Tue Sep 29, 2009
Hi Vizycal,

The rental market is great in Chevy Chase not only because of its close proximity to DC, but because of the school district. Just let me know if you would like for me to send you a rental analysis of the area. You can email me at csherrod@mris.com. :-)Christine
0 votes Thank Flag Link Mon Sep 28, 2009
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