Editor’s Note: This biweekly sponsored column is written by Rick Gersten, founder and CEO of Urban Igloo, a rental real estate firm that matches up renters with their ideal apartments, condos or houses. Please submit any questions in the comments section or via email.
One statement we hear more often than most is, “I don’t know where to start.”
Moving to a new town is overwhelming, and moving to D.C., where apartment hunting is like a competitive sport, can be downright exhausting. With so many choices, an apartment search can quickly take on a life of its own where the next apartment looks just like the last.
Before you hop in the car, or spend countless hours researching on the Internet, take a minute to sit and really think about what is important to you in your next home. By outlining your priorities, you can establish a strategy to narrow down your search and minimize wasted efforts.
When helping renters find a home, we generally like start by breaking an apartment search into three categories: price, quality and location. You can usually expect to get two of the three, and renters need to decide which two factors are the most important to them.
Location — Location is a great place to start because it is often the most important to the renter before they discuss price. Each person has different interests and tastes, and identifying these helps us to guide people to the right area. A friend might say, “Rosslyn is great because you will be really close to D.C..” Rosslyn is great, but if the renter is someone who prefers a quieter area, then Rosslyn might not be the best choice. Why not try South Arlington, where you can still hop on the Metro (in Pentagon City) and be in D.C. in just a few stops?
Price — This isn’t always secondary, but often, people are willing to go up a little in price in order to get a better location, especially if they factor in proximity to Metro/Bus or major highways, walkability, and the quality of life. But with the average price of a 1 bedroom apartment in Arlington hitting about $1700, some renters are going to have to compromise on something, as that is not a reasonable budget for many people.
Quality — When we talk about quality, we don’t necessarily mean being doomed to a dark, windowless basement. Quality includes size, amenities, and, of course, finishes. Giving up new appliances and a pool might afford the renter a bigger apartment in a better location within their budget.
As stated above, we prefer that our renters narrow down a few neighborhood choices because most neighborhoods are going to have a variety of options of varying quality at varying price points. But try to be open to suggestions as well. There may be a few similar areas that you have not thought about that have more options that come closer to your ideal apartment. Enlisting help of an agent may help you hit the apartment trifecta: Price, Quality AND Location.
The views and opinions expressed in the column are those of the author and do not necessarily reflect the views of ARLnow.com.
Community discussion guidelines: Our sponsored columns are written by members of the local business community. While we encourage a robust and open discussion, we ask that all reviews of the businesses — good or bad — be directed to another venue, like Yelp. The comments section is intended for a conversation about the topic of the article.
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Have you ever considered purchasing a rental property but weren’t sure where to start? This free webinar will go over the basics of how to invest in real estate, how to choose rental properties, and a market overview. Our Director