Looking into condo units to kickstart your DC living?
Buying a place to live in is never easy, no matter where you live. Home shopping in Washington, DC can be harder, especially if you’re new to condominium units.
Juggling budget and lifestyle can take a lot of patience. If you’re looking to invest in a condo unit in DC, we have got you covered. Check out our five tips for choosing a home among the Washington, DC condos for sale.
1. Consider A.L.L. (Amenities, Lifestyle, Location)
If you’re buying a condo in Washington, DC, one good tip is to consider your amenities, lifestyle, and location. One big advantage of buying a condo is the wide variety of amenities. Condominiums are indulgent yet practical homes to have.
Besides that, amenities can also positively impact the resale value of your unit. A condominium with a pool and a great gym can potentially have higher demand from buyers and thus sell for more.
Lifestyle is also one huge factor people consider when they buy their homes. If you’re a person whose career and lifestyle are on the go and you are into modern and smart living, condo living may be the best option for you.
People who aren’t fond of house and property upkeep gravitate towards condo units. Condos tend to give owners more convenience and affordable living than a single-family home.
Another consideration condo buyers take into account is the location. It’s important to note that the prices of Washington, DC condos also depend on their location.
For example, in hotspot living areas like Shaw and Logan Circle, condo units are more expensive. However, if you widen your search to other neighborhoods, you’ll find more affordable units. Your options could include bigger living space at a cheaper price.
2. Freshen up your Housing Expectations
A huge chunk of D.C.’s population has moved from other cities and states. When you’ve just moved to Washington, you might experience some shock to D.C.’s bustling housing market. One good tip on how to buy a condo in Washington, DC is to start fresh with your housing expectations.
Managing your expectations is a surefire way to find success. Unlike other cities and states, properties in Washington, DC are quite expensive. A budget that can get you a house and a yard in other states may only get you a studio unit in DC.
It’s essential that you set a definitive list of what you and your family will need when you plan on buying a home. Doing this can help you narrow down the choices and see if buying a condo will give you a living space that’ll work with your budget.
3. Review Regulations, HOA Fees, and Other Necessary Payments
Another great tip is to make a thorough review of the HOA’s regulations and fees. To make the most of your money’s worth, it’s critical to consider your mortgage payment apart from these and other expenses (like utilities, renovations, replacements, etc).
Remember that more luxurious condos and amenities generally cost more. DC condo amenities like well-appointed fitness centers and pools can send prices up tens of thousands of dollars. This is excluding the monthly HOA fees you also need to pay, which is why HOA fees should always be part of your planning.
The last thing you need to review is the community’s general rules. Things like noise restrictions and guidelines on booking common areas will help you get a feel of what the community is like. It’ll also help you decide if the condominium’s community is the best fit for you and your family.
4. Get a Realtor With Condo Experience
Once you’ve decided to buy a condo, get a real estate agent that’s well-versed in the condominium housing market. A specialized Realtor will not only keep your best interests in mind, they’ll also help and guide you through all the steps in buying your condo unit.
A great Realtor knows all the buzz on condo developments in the area. They can give you an overview of any issues that each area may have. They are also a massive help in finding you a unit that’s going to maximize your budget.
5. Understand You’re Not Only Investing Money, But Time, Too
One of the major shocks that first-time buyers get is how long the process of buying a home takes in Washington, DC. It’s important to know that in buying a condo, you’ll not only be investing money, but time, too.
Like researching any other major investment, the whole process is long and tedious, so it’s essential to be patient. Time is also a big factor when you buy a property that’s a fixer-upper.
It’s probable that it’ll take months of renovations before you reach the look of your dream condo.
5 Major Tips to Know in Choosing Washington, DC Condos for Sale
Buying a home in Washington, DC can be more taxing than in most states, but it’s a place worth living your life in. Get the most value of your money in these five tips in choosing among the Washington, DC condos for sale.
Considering lifestyle, location, expectations, regulations, and fees are a good start. Follow it by getting an experienced Realtor and practicing patience, and you’ll have your dream place in no time. Contact us now to help you find your dream DC condo.