Research by Trulia indicates that an average home in the DC costs about $500 per square foot. The property value in DC continues to appreciate. This has been attracting many homeowners to the area. A DC property search can be challenging at times especially if you do not have adequate knowledge. The following are five things to consider when searching for a property in the DC area.
1.Have Realistic Expectations
If you are new to the DC area, the housing market can be challenging. Your budget in a certain area like Kansas might be just enough to purchase a small home while it might get you a condo in some part of D.C. you need to do your research first to know what you want before starting your property search. Once you come across great homes or property while doing your research, it is advisable not to fixate on it. You might find it already taken.
2.Have a Wide Search Radius
Focusing on one area during your search can limit you to amazing properties in other areas. The DC area has several areas with amazing condos and apartments. The DC area has many suburban areas with amazing property offers. A study by Realty Trac shows that DC is one of the largest areas in America with over 400 properties in foreclosure. The number continues to go high as the year’s pass. Therefore, make sure you exhaust all places before settling on one.
3.Keep (Homeowners Association) HOA Fees in Mind
If you get lucky enough to find a property in high-end condos, you will be required to pay the homeowners association fees. You are advised to do your research and find out the HOA fees and other community-related expenses in different areas. Some expenses like parking fees could be as much as tens of thousands of dollars in some areas whereas other areas are relatively cheap.
4.Consider Professional Company While Doing a DC Property Search
The DC being a vast area, it’s hard to figure it out alone. Finding a reliable and real estate agent comes in handy when finding a property. Although you will have to pay a small fee, the benefits outweigh the cost. An agent will not only show some of the best places to purchase property, he or she will also advise you on how to get quality deals. You ought to check the agent’s reviews first before hiring their services.
5.Invest Your Time on Your Property
Many first-time buyers find it hard to comprehend is the amount of patience needed when investing in property. You need to start looking for the property earlier than you intend to start using it to avoid getting caught off-guard. Prior preparation helps you avoid buying dubious or low-quality homes.
The DC area has numerous beautiful homes, good attraction sites, and incredible amenities. If you are thinking of a DC property search, call The DC Team at Long &Foster, Inc. at (301) 215-6855 for professional help. Our team of professionals has experience in selling property, buying property, moving, and renting properties.
