The Washington Post brings us an interesting report on why having a roommate can save you money. Check out the article below!
A new D.C.-is-still-expensive-report shows a not-so-sneaky way to save on your rent: Get a roommate.
In D.C., renters save an average of $578 per month with a roommate,according to a report from SmartAsset, a personal finance technology company.
The report looked at the average rent for one-bedroom listings in D.C. — $1,966 per month — and compared those against the average cost of splitting rent between two people in a two-bedroom listing — $1,388 per month.
In San Francisco and New York, having a roommate can become even more of a financial necessity. The report shows that having a roommate there will save you $1,077 and $942 respectively.
The SmartAsset report accounts for just the traditional one- and two-bedroom apartments that are designated in listings as such. Many of these types of apartments can be found in new luxury condo buildings, which have among the highest rent prices in the city.
The report does not include the large amount of rowhomes that people in D.C. live in as cheaper rental options, for instance.
The main takeaway: Getting a one-bedroom apartment in D.C. is expensive. Getting a two-bedroom apartment is still expensive, but notably cheaper.
thanks DC Curbed for the photo
Housingwire brings us this interesting iconographic regarding what a Millenial homebuyer looks like.
One of the newest developments is conceptual approval for light on the Southwest Waterfront’s Case Bridge, being executed by the French company that brought lighting to the London Bridge during the 2012 Olympics. (If they could put lights on a bridge that is constantly falling down, we think they can handle Case Bridge.) Among our speakers, PN Hoffman CEO Monty Hoffman (whose company, with Madison Marquette, is developing the $2B The Wharf) tells us the approval process has taken nine months, a blink compared to other aspects of the project. The company will use all LED lighting along the bridge and roadway platform. The Case Bridge is an artery into Virginia and carries 170,000 cars daily.
Monty tells us he’s also working with National Harbor, The Yards, Old Town Alexandria and Georgetown to get an expanded water taxi service to link all the waterfronts. He envisions an Uber-like app that lets riders visually see the location of the boats and provide ETAs. A free ferry between the Waterfront and Hains Point will be ready to go by Cherry Blossom season 2017. Monty says he envisions office workers hopping on the ferry to hit balls at the Hains Point golf course.
The VIO, a glamorous condo offering, starts selling at the end of this month. Hoffman Madison also just received approval to build a sweeping set of stairs like the Spanish steps in Rome (above), from 10th Street to Maine Avenue, giving visitors easy access to the Mall and amazing views from the top. Monty says more announcements are on the horizon, including the names of two more hotels, a lead office tenant and several restaurants that have already signed LOIs. Monty says he’s also working on bringing in a rum distillery. (Spain, rum, sweeping views? Is it possible this is an elaborate ruse to film another Pirates of the Caribbean?)
Grosvenor Americas has 325 apartment units with 25k SF of retail coming to the Waterfront in early 2017, says SVP Don Capobres, who will also speak at our event. Who will fill that space? Millennials, of course. Don says they’re a generation that’s cost conscious (45% of them have moved three times in the last three years and 35% have moved twice), so pricing will be a factor. The units are smaller, so the gross cost to the tenant is less and some of the amenities in the building will compensate for the lack of space. Tenants can share lounges that can serve as living rooms and it’s (so far) the only residential project that has Nats Park views from its rooftop. The company plans to augment the views with large TV screens.
Read more at: https://www.bisnow.com/
DC Curbed gives the best neighborhoods for renters. Check out the article below.
Washington, D.C. is a big and beautiful city that spans four quadrants with over 100 distinctive and unique neighborhoods. If you’re interested in moving to the District or moving from one are to another, here is your guide to where the most livable and most rentable areas are. To make this list, Curbed took a look at the median rents in each area, the Walk Scores, and the communities that inhabit them. In only a few words, Curbed summarizes what you should expect to find in each neighborhood, whether that’s an active nightlife or swanky designer stores. Feel free to leave your suggestions in the comments on any neighborhoods we left out, but shouldn’t have.
- Navy Yard
- Median Rent: $2,374
Walk Score: 83
What to expect: Renovated old factories, new residential and office buildings, waterfront views
- Median Rent: $2,374
Walk Score: 94
What to expect: Strong community feel, local businesses, lots of row houses
- Friendship Heights
- Median Rent: $3,400
Walk Score: 79
What to expect: Swanky designer stores, suburban feel
- Adam’s Morgan
- Median Rent: $2,100
Walk Score: 94
What to expect: Active nightlife, cultural diversity
- U Street Corridor
- Median Rent: $2,600
Walk Score: 97
What to expect: Active nightlife, great transit
- H Street
- Median Rent: $2,045
Walk Score: 93
What to expect: Artsy, commercial-focused, hipsters
- Columbia Heights
- Median Rent: $2,200
Walk Score: 93
What to expect: Rapidly development retail/commercial center, yuppies
- Capitol Hill
- Median Rent: $2,300
Walk Score: 85
What to expect: Age diversity, historic row houses, commercial strips
Check out the article below for more information about the luxury apartments at National Harbor.
National Harbor’s first rental community, Esplanade at National Harbor, offers resort-style living at the 350-acre mixed-use development on the banks of the Potomac River. National Harbor has a hotel and conference center, restaurants, shops and entertainment venues, as well as condos and townhouses to own.
The Esplanade, which is 34 percent leased and 20 percent occupied, has a private residents’ clubhouse with a high-definition golf simulator (virtual golf system) with five championship courses; a swimming pool; a courtyard with a fire pit; an outdoor kitchen with grills; bocce and other lawn games; art installations; a fitness center with a yoga studio; a business center; and a conference room.
Rents range from $1,675 to $3,100 for studio and one-, two- and three-bedroom units. The apartments include high ceilings, large windows, granite counters, Energy Star appliances, energy-efficient gas cooking, large-capacity washers and dryers and walk-in closets. Some units have a patio or terrace.
For more information, go to www.esplanadenationalharbor.com
– Michele Lerner at the Washington Post
Urban Turf provides the scoop on Mortgage Insurance for first-time buyers.
Be sure to check out all the information in the article here.
DC Curbed reports that buying is actually the cheaper option. Check out the article and Trulia’s interactive map below.
Here is Trulia’s interactive map.
The Washington Business Journal reports that closed sales have jumped almost 40% from February to March. Check out the report and the data below.
The Capitol Hill Corner brings us news of the historic Buchanan School of Capitol Hill will soon be converted into townhouses.
“Insight Property Group has the Buchanan School at 13th and D Streets, SE, under contract and hopes to preserve and enhance the historic structures which date to 1895 and raze the newer additions to make way for a series of new townhouses fronting D and 13th Streets, SE. The historic building on the 92,899 square foot site – which lies just outside the Capitol Hill Historic District – would be converted to residential units.”
Read more on their website.
The Washington Post recently highlighted the condominiums on Maple Street on Capitol Hill. Check out the beautiful restoration done on this historic street!
The restored building has been a fixture in the neighborhood for more than 200 years.
The Maples development, which faces 619 D St. SE and backs to South Carolina Avenue SE in Washington, has three new townhouses and 16 condominiums, including both flats and duplexes in the restored manor house and stables. SOURCE: Benjamin C. Tankersley/For The Washington Post