In Arlington, MOST (but not all) condos usually convey with a designated, deeded parking space. Meaning a parking space is included with the sale price you pay for the condo. If there’s a garage, or a lot with numbered spaces, you’ll be given a specific place to park which can’t be changed. If there’s just an open lot, you’ll usually get a permit and you’re able to park in whichever spot is available. Depending on the condo, you may get 2 parking permits.
What do you do if you have 2 cars?
If you’re buying new construction, you have the option to purchase a 2nd spot. You will pay a premium for the 2nd spot, especially since you’re buying it from the developer. While it’s convenient and may be worth it to you, just know that you’ll likely never make that money back when you sell. Some of the newer buildings charged $20-$30k for a second parking space, but the average resale gets about $10k of that back in added value.
You could buy a spot from another unit owner in your condo building. If someone has a space to sell, you can just purchase it directly from them. You’ll need to actually get an attorney involved since it’s a deeded space and the deed will need to be prepared and filed with the county.
You could rent a space from either another unit owner or a nearby garage (ex. Colonial Parking). Going rates vary, but in Clarendon/Ballston the rates are about $110-$120/month/spot.
Some buildings were built with tandem parking spaces, meaning you park 1 car in front of the other, rather than side by side. While many people may find this helpful if you metro, never drive, have a work car, or 1 person works from home, in practical terms for 2 people who drive everyday, this could be a bigger pain than a value. If you get home first and leave first, you’ll be blocked in by the 2nd car….a nightmare if you’re in a rush to get out in the morning! So it’s a great point for marketing a property for sale and will garner a bit of a premium, but it’s all in the eye of the buyer. If they’re never going to use or have to rent a 2nd space anyway, they’re not going to want to pay extra to have it.
Make sure you check the listing information to confirm at least 1 parking space conveys with the sale of the property. It would be an unpleasant surprise to find that out after closing!