Editor’s Note: This new 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.
It is no surprise to Arlington residents that DC area apartment prices are some of the highest in the nation. However, there are some relative bargains in the Arlington rental market. The only catch is that renters may have to concede something to get the best deal.
Give something up? What? Yes, renters may have to sacrifice the dream of a luxury apartment in the heart of Clarendon if they want a 1 bedroom for $1600 per month. So what will renters give up to get a great bargain?
Location – Maybe living two blocks from the Orange Line in the Rosslyn-Ballston corridor isn’t an absolute necessity. Many 1 bedroom units in the area are running right around $2000+ per month for buildings with ideal locations. Live just a mile away, take the metro ART bus or bike to the Metro and renters can save a bundle.
Quality – When we talk about compromising on quality, we don’t mean living in a run down property. It just means giving up the high-end finishes, such as stainless steel appliances and granite counters. They look nice, no doubt, but at the end of the day a white refrigerator and Corian or laminate floor may be acceptable if they save a couple hundred bucks a month.
While there is always going to be that one place that has it all, most people don’t have the luxury of time or patience to look and wait for it. So modifying expectations and opening yourself up to new possibilities may save a bundle, and give you more money in your pocket for a nice dinner out at one of the wonderful restaurants nearby.
The views and opinions expressed in the column are those of the author and do not necessarily reflect the views of ARLnow.com.
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