Every four years, a flurry of activity takes place in the Washington, D.C. real estate market between Election Day and Inauguration Day. This year is no different. A study that tracks the movement of senior administration officials shows that the turnover rate will be at an all-time high. This, coupled with other appointed positions and civil servants, points to a very active winter season for real estate professionals in the DMV (District of Columbia, Maryland, and Virginia) region.
In this article, we would like to take a look at several of the things you may want to consider if you find yourself looking for a home in the DMV in the new year.
Where to Live?
The DMV region is made up of numerous neighborhoods and jurisdictions, each with its own history and ambiance. Old Town Alexandria (Virginia) is the perfect location for history lovers looking for a short commute time to downtown DC. Potomac (Maryland), located approximately 12 miles from downtown DC, is a laidback town with a more rural feel and plenty of space for a family.
The District itself offers approximately 131 neighborhoods to call home. The city is split up into eight wards, with a variety of neighborhoods found in each ward. There is truly a community suited for all tastes—from the culture and entertainment of Penn Quarter to the more traditional “suburban” feel of Chevy Chase. The real estate professionals on our team are experienced in all corners of the DMV region and are here to discuss (and offer advice about) the many neighborhoods of the area.
Rent or Purchase?
The decision to rent or own a home can be overwhelming, especially when coupled with a long-distance move and/or new job opportunities. There is no denying that home ownership has many benefits, including the ability to build wealth, the freedom to customize your living spaces, and fixed monthly payments. We are available to discuss questions you might have as you plan to move to the area.
Depending on your lifestyle and given circumstances, the decision to rent a luxury home may be a viable option. Whether you haven’t found the perfect home or wish to explore the many unique housing options around the DMV region, renting can help fill a gap in planning. Renting may very well bring you closer to finding your next forever home. Please see this recent article from Sotheby’s International Realty about some of the benefits luxury rentals can offer.
Amenities and Lifestyle
You most likely have a “must-have” list for your new home, but you must also consider how that home will fit your lifestyle. Take into consideration the time and type of commuting you desire. According to research published in January of 2020, the DMV region has a history of the lengthiest commutes in the country. Also take into consideration the time to get to places that you frequent, such as schools, shops, entertainment, and recreation facilities. Chose a location that is lifestyle-friendly and that provides you with flexibility and convenience.
Choose the Right Agent
With over 40 years of combined experience, the Alliance Group combines an insightful market perspective and deep level of experience to provide an unparalleled suite of real estate services. We are here to listen to your wants and needs and to help guide you in your home search. Also know that we are proud to represent buyers and sellers in all price ranges throughout the DMV region. Learn more about our unique team of real estate professionals and don’t hesitate to contact us with questions.