Two-bedroom, two-bathroom condo in Bowie, Md., lists for $215000 - The Washington Post

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If higher mortgage rates have cut your home-buying budget to $300,000 or less, you may think you need to give up on becoming a homeowner in the D.C. area. Don’t. While you may not be able to buy your dream home just yet, you can still start building home equity by buying a condo, a townhouse or maybe even a single-family house depending on where you look. One place to start is in Prince George’s County, Md., where the median sales price for a home was $415,000 in June, according to Bright MLS.

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If higher mortgage rates have cut your home-buying budget to $300,000 or less, you may think you need to give up on becoming a homeowner in the D.C. area. Don’t. While you may not be able to buy your dream home just yet, you can still start building home equity by buying a condo, a townhouse or maybe even a single-family house depending on where you look. One place to start is in Prince George’s County, Md., where the median sales price for a home was $415,000 in June, according to Bright MLS.

A condo at the Vistas at Lake Arbor at 1019 Fallcrest Court #302 in Bowie is priced well below that median sales price at $215,000. Annual property taxes are $2,351. Condo association dues add $636 to your monthly housing payment and the homeowner’s association charges an annual fee of $207.

Condo fees cover common area maintenance, trash and snow removal, insurance and reserves. The condo comes with an assigned parking space and pets are allowed. Community amenities include Arbor Park, which has a playground, a sports field and tennis courts.

Built in 1990, this 1,324-square-foot condo has two bedrooms and two bathrooms. Located on the third floor, this unit has a loft and vaulted ceilings. The living area has new laminate flooring, a wood-burning fireplace and an open dining area.

The kitchen includes a breakfast bar, black appliances and a sliding-glass door to a balcony. A spiral staircase leads to a large loft overlooking the living and dining area. The loft can be used as an office or family room. Double doors lead from the main level to the primary suite, which has a private full bathroom and another balcony. The second bedroom is adjacent to a second full bathroom. The condo has a new stacked washer and dryer. The water heater and heating and air conditioning system are relatively new.

Assigned schools include Lake Arbor Elementary, Ernest Everett Just Middle and Charles Herbert Flowers High.

For more photos, click here.

For more information, contact real estate agent Angel Saules with Keller Williams Preferred Properties at 240-342-6435.

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