Living and working in the area of Washington, D.C. can get expensive, but the quality of life makes it worthwhile. As a property investor, you may be interested in expanding your assets in the DC orange line area.
You're not alone in valuing the ownership of real estate as a financial asset. In 2019 alone, the real estate investment industry generated $213 billion in revenue.
If you aren't sure which part of the city to invest in, consider buying property along one of the city's public transit routes. The city of Washington, D.C. has five lines of public transportation, one of them being the Orange Line. Detailed below is everything you need to know about the best investment opportunities in that area.
It's time for you to join the booming real estate industry in the nation's capital. Keep reading to start investing in DC.
Foggy Bottom is an Extremely Stable Rental Market
The first neighborhood to note is one of Washington, D.C.'s most popular ones. Foggy Bottom is named such because of the natural fog that occurs there regularly.
The cultural and historical presence of this neighborhood gives the area its value and notoriety. For one thing, the John F. Kennedy Center for Performing Arts is there, which attracts tourists from all over the world. If you want to be a part of a thriving and colorful arts community, Foggy Bottom is the ideal place for your property investment.
Consider Investing in the Southwest Waterfront Area
This is another neighborhood well-known for its historical monuments and memorials. Plus, it's home to the world's longest continually running open-air fish market.
The activities and places to visit in the Southwest Waterfront make this area appealing to many young families. It could be the perfect place for you to buy some property to rent out.
Don't Forget About Downtown Washington, D.C. Itself
If you're wanting to make a splash in the DC real estate market, consider investing downtown. After all, this is the hub and center of the entire country. That makes it expensive, by the way.
If you're prepared to lay down some capital investments for property in this area, though, it can be very valuable. Downtown Washington, D.C. is an attractive location for a variety of sophisticated young professionals, for instance. Many of these professionals are environmentally conscious and choose public transit over car ownership, so they're more likely to live on a transit route like the orange line.
Residents in this area would have access to all of the latest hot spots and up-and-coming restaurants. That makes it ideal for all of the movers and shakers of the country. Take the time to consider whether this real estate move would be ideal for your interests.
The DC Orange Line Stops at the Courthouse, Too
It's no secret that a ton of legal professionals works in the area of Washington, D.C. Many of those professionals have to visit the courthouse for all kinds of work-related reasons.
That's one of the fortunate things about living near access to the Orange Line. On the western side of this public transportation route, passengers can get off at the station right in front of the nation's courthouse. This can be of particular convenience for lawyers who work in the area.
It's reasonable to use this feature of the Orange Line as an attractive characteristic of your eventual property investment. These potential renters would love the idea of an easy commute to work. Make sure you invest in the marketing resources to ensure you're reaching this target audience.
Hire the Best Property Management Company
Of course, you're going to want to hire a property management company to maintain the security of your investments. The duties of a landlord, after all, can be quite the responsibility. Leave those tasks to a qualified company that has your financial interests in mind.
Don't underestimate the importance of making the right choice when hiring a property management company, by the way. They're not all worth your time or money. For more detailed guidance, check out this article on critical questions to ask your property management company.
Keep Yourself Well-Informed of Modern Real Estate Trends
One key thing to remember as a property investor is to continue to keep yourself well-educated. You should know exactly what's going on in the real estate industry of Washington, D.C. That way, you can make wise investment decisions throughout the future.
The fortunate thing is that real estate in and around the area of Washington, D.C. is doing well. The median cost of homes in the surrounding areas, like Virginia and Maryland, has continued to grow over recent years.
In other words, you might expect more financially successful renters to rent from your properties as time goes on. While that may be intimidating, it can be a profitable return on investment in the long run.
Start Looking for Property in the DC Orange Line Area
At this point, you have a thorough understanding of what to expect from property investments in the DC Orange Line area. It's no secret that living or renting in Washington, D.C. can get expensive.
There's no need to cut corners when it comes to making the most of your financial investments. That's why you'll take the above guidelines seriously. It's also in your best interest to keep yourself well-informed of real estate news in that area.
That's where this website can come into play. Not only do we prioritize bringing you the current events and real estate news in the Washington, D.C. area, but we also do our best to connect clients like you with the ideal properties they're looking for.
For that reason, we encourage you to browse through the rest of our website today. On our blog, you'll find the latest and greatest trends in Washington, D.C. real estate. To start, check out more details about our real estate brokerage services available to find your new property investment in no time.
