College Grad Version

You are a recent college graduate and now you have to figure out where you will live. 

With so many choices of apartments, townhouses and single-family homes you may become overwhelmed with pricing, styles and locations (especially if you are new to the area).

What is right for me?

Well, that depends…

What is the Ideal location I want to be?

First, we have to figure out where you want to move. For example, you may want to move to Arlington, VA(Arlington County) and live right in the city where most bars, restaurants and shop are located such as Clarendon.

How much space do I need? Why?

Now, we have to figure out weather you see yourself living in an apartment, townhome or single-family home. For example, you may want to live in a townhome because you will be sharing your home with your college buddy and both of you are tired of living in a prison like dorm in college but want to be close enough to the entertainment establishments such as the area of Clarendon blvd or Wilson blvd.

How much am I willing to pay?

Then, we have to figure out your budget (affordability). How much will I earn and what will be my expenses? At this point you should take out your calculator and start thinking… What expense do I have in a daily basis? Food and transportation… so on and so forth.

What other housing expenses will I pay?

At this point we have figured out how much you can really count to pay for housing expenses, but keep in mind when you are renting, one is not only paying the rent. In addition to rent you will be paying water, gas, trash removal, electricity, and parking (if applicable). Not to mention groceries, and household essentials.

How should I start my search?

Now, you are ready to start looking for your next prospective home and a good rule of thumb is to involve a real estate agent at this stage if you are planning to rent a townhouse, condo or single-family home. Why? real estate agents live and breathe their local market which is a great resource when you are new to the area or even not so new because they review the real estate market every day and it may be a matter of over paying versus paying fair market value.

In Real Estate location and demand are, by far, the biggest driver of prices weather is for buying or renting so take the time and compare your expenses versus your income and figure out the right percentage or amount you will feel comfortable to spend on rent and choose a local real estate expert.