The Hunt
After Years in Washington, a Couple Found More Value in Baltimore. What Could They Afford?
Figuring they would need to retire and sell their business before they could afford a new home in the D.C. area, two empty nesters pulled up stakes and tried a place with ‘more bang for your buck.’
Merry Heidorn and Rich Heidorn were ready for city living. They just weren’t sure which city.
The couple, who married in 2012, own RTO Insider, a subscription news service that covers organized electric markets across the country. For years, they ran the publication out of their home in Potomac, Md., a suburb of Washington. They also shared the house off and on with five children from previous marriages, now grown and living in Washington, D.C., Seattle and Philadelphia.
“In our house in Potomac, there were nice, wooded paths where we could walk the dog, but there was nothing else nearby other than a small shopping center,” said Mr. Heidorn, 68. “It’s a car-friendly place and it was great for raising kids, but we both prefer cities to suburbs.”
Last year, with all the children out of the house and the newsletter thriving, the couple started thinking about downsizing to a condominium in Washington. But they figured that anything with at least three bedrooms would cost seven figures, and they anticipated waiting until they had retired and sold their business to move.
The epiphany came on Mother’s Day in 2023, while they were at brunch at a waterfront cafe in Baltimore. “I said, ‘I could live with this view,’” said Mrs. Heidorn, 66.
[Did you recently buy a home? We want to hear from you. Email: thehunt@nytimes.com]
Their broker, Matt Mindel of Next Step Realty, showed them numerous condominiums and townhouses in neighborhoods around the city’s Inner Harbor and the Patapsco River, where home prices range from the $300,000s to the $500,000s, he said.
“We see a fair amount of transplants in Baltimore from D.C. and New York because of the lower prices and walkability,” Mr. Mindel said. “It’s an East Coast city, but with more bang for your buck. You can get to D.C. in an hour by car or by MARC train.”
The Heidorns were on the same page with their priorities for walkability, a yard for their dog, Daisy, and a parking spot. “We loved looking at the woods from our deck in Potomac, so we wanted some kind of view, especially a water view, if possible,” said Mr. Heidorn, 68.
They also needed a place for “the beast,” an oversized printer they use for their newsletter, Mrs. Heidorn said: “The beast is much bigger than our dog, so we had to eliminate a few houses that couldn’t accommodate it.”
With interest rates soaring and inventory low, competition was heated last summer in the neighborhoods where the Heidorns searched.
“What’s funny is that even though Merry and Rich were looking at homes in historic neighborhoods that have houses built in the 1890s to the 1920s, all the houses they seriously considered were built in the 1980s or later,” Mr. Mindel said.
Among their options:
No. 1
Townhouse Near Inner Harbor
Built in 1981, this three-bedroom, two-and-a half-bathroom corner townhouse in the Otterbein neighborhood was close to public transit, Inner Harbor and several parks. Recently updated, it had a wood-burning fireplace in the living room and sliding doors to a rear terrace and deck, although it lacked an enclosed backyard. There was a one-car garage and a driveway with space for two more cars. The home was listed for $619,000, with an annual $540 homeowner association fee and taxes of about $11,000.
No. 2
Renovated House With Roof Deck
This three-bedroom, three-and-a-half-bathroom 2002 townhouse, also on a corner lot, was in the Canton neighborhood, across the street from a dog park and close to restaurants. It had a roof deck with views across the harbor, a one-car garage and an on-street parking space. The updated kitchen stepped out to a balcony but had limited storage. There was a common yard, but no private backyard. The house was listed for $659,900, with an annual homeowner association fee of $1,800 and taxes of around $11,000.
No. 3
Townhouse on a Promenade
Built in 1983, this three-bedroom, two-and-half-bathroom townhouse in the Canton neighborhood sat on the bustling Baltimore Waterfront Promenade and had a private backyard. The house had an unusual design, with seven levels connected by an open staircase. The family room and living room had wood-burning fireplaces, and the bedrooms were each on a different level. The dining room and kitchen needed updating. The asking price was $735,000, with an annual homeowner association fee of $3,780 and annual taxes of about $12,000.
Find out what happened next by answering these two questions:
Which Would You Choose?
Townhouse Near Inner Harbor
Renovated House With Roof Deck
Townhouse on a Promenade
Which Did They Buy?
Townhouse Near Inner Harbor
Renovated House With Roof Deck
Townhouse on a Promenade