[dropcap]M[/dropcap]ost of my clients who ask me to “run comps” for them, are asking me to do so for the purposes of selling their home, or just to kill the curiosity of wanting to know what the current market value of their home is. But how many of you have ever wondered what you could rent your house for?
Some homeowners are now turning to renting their primary residence, as the first step towards purchasing a new house. By renting their current home, it allows them to enter the real estate market as purchasers, without having to sell their current home, which (still) in many cases, is under water.
Here are some current market prices for rentals in Ashburn: (Averages on leases that were ratified after March 1, 2012)
Ashburn Condos
Looking at two different condo subdivisions in Ashburn (Westmaren and Lakeshore), the average 2 bedroom and 2 full bath condo is renting for $1400-$1,450. However, go either across the street to the Camden apartments in Ashburn Farm or the Camden apartments in the Broadlands, and the same sized apartment with same number of bedrooms and baths is renting for north of $1,600. This, combined with a low inventory, should continue to push these rental prices up.
Ashburn Townhouses
Taking a look at townhouses between Ashburn Farm, Ashburn Village, and the Broadlands, the average rental price for a townhouse with 3 bedrooms, 2 full baths and a 1 car garage is about $2,000. 35 total units rented since 3/1 with the lowest renting at $1,700 and the highest being $2,200.
Ashburn Single Family Homes
Using the same 3 subdivisions in Ashburn, here are the rental comps of houses that have at least 4 bedrooms, 3 full baths, and a finished basement. 26 total have rented during this time, with the average rental price being $2,995.
As it is in the resale market, rental prices will vary depending on the property’s upgrades, lot type, etc. For a detailed market analysis of your own property, contact me directly.
Mike Winslow – DAAR Top Producer
703.930.7052
www.WinslowGroup.com
a subsidiary of Premier Realty Group
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