Moving back to MD from CA and unsure of what to do next.

I was looking for some advice on what my next move should be.

I currently own a property in Maryland but live in California where I am renting a place. The Maryland home was my primary residence, but I moved temporarily to California for work related reasons just under two years ago. The Maryland property has been cash flowing pretty well after expenses. Especially after refinancing and getting a 2.25% interest rate last summer. I would like to hold on the property for that reason, but I have no desire to return to the property as my primary living. My family is expanding, and this school district has a reputation for not being the best. This is a concern as my oldest is starting school this fall.

So, I am scheduled to return to Maryland at the end of the year and have been troubled on what I should do for housing.

My tenant lease is up soon, and I believe he wants to renew but I could move back into my existing property. This will allow me time to wait out the market for better conditions next year or later. But I will also have to put my daughter in private school or something. This would also be a short-term move knowing I would have to move again. Also, my work commute would be about 30 min which is not too bad.

I was thinking about buying a house now in Maryland but with the current prices and interest rates I am not sure if that’s a good ideal either. However, I did talk with a lender yesterday and they quoted me a rate of 4.5%. Though I am not sure how long that rate will last.

I could push my return until Dec of this year and try buying closer to the end of the year. I expect rates to drop a bit with interest rates continuing to rise. This option would just buy me more time.

I guess I would also rent a place in Maryland upon return. But would rather not. As this would be a temp move and rather not rent anymore.

The added complexity I am unsure of location. For those familiar with Maryland area, I have been primarily looking at two counties; Charles County and Anne Arundel County. Charles County would make my drive about an hour or more, but I get more value, closer to family, and overall, I think my family would enjoy it more. Anne Arundel would be a bit more expensive but make my commute 25 min or so.

submitted by /u/ButHeyyWhatDoIKnow
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I was looking for some advice on what my next move should be. I currently own a property in Maryland but live in California where I am renting a place. The Maryland home was my primary residence, but I moved temporarily to California for work related reasons just under two years ago. The Maryland property has been cash flowing pretty well after expenses. Especially after refinancing and getting a 2.25% interest rate last summer. I would like to hold on the property for that reason, but I have no desire to return to the property as my primary living. My family is expanding, and this school district has a reputation for not being the best. This is a concern as my oldest is starting school this fall. So, I am scheduled to return to Maryland at the end of the year and have been troubled on what I should do for housing. My tenant lease is up soon, and I believe he wants to renew but I could move back into my existing property. This will allow me time to wait out the market for better conditions next year or later. But I will also have to put my daughter in private school or something. This would also be a short-term move knowing I would have to move again. Also, my work commute would be about 30 min which is not too bad. I was thinking about buying a house now in Maryland but with the current prices and interest rates I am not sure if that’s a good ideal either. However, I did talk with a lender yesterday and they quoted me a rate of 4.5%. Though I am not sure how long that rate will last. I could push my return until Dec of this year and try buying closer to the end of the year. I expect rates to drop a bit with interest rates continuing to rise. This option would just buy me more time. I guess I would also rent a place in Maryland upon return. But would rather not. As this would be a temp move and rather not rent anymore. The added complexity I am unsure of location. For those familiar with Maryland area, I have been primarily looking at two counties; Charles County and Anne Arundel County. Charles County would make my drive about an hour or more, but I get more value, closer to family, and overall, I think my family would enjoy it more. Anne Arundel would be a bit more expensive but make my commute 25 min or so. submitted by /u/ButHeyyWhatDoIKnow [link] [comments]

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