Do All Condo Units Have Parking? How About Storage Units?
So strictly speaking for Arlington County (the answer will differ for Montgomery County and the District), let’s talk about whether condos always have parking and/or storage units.
In Arlington, it’s very common for units to come with 1 parking space deeded to the purchaser. At some point all of these condo buildings were brand new and the builder decided whether the units would be sold with parking, or if parking would be an additional cost. In *most* cases for mid to high-rise condo buildings that have garage parking, most units have at least 1 spot. Some units that are being sold with 2 parking spaces paid an additional $30-$40k per spot. There are SOME units that do not have ANY parking available, so it’s important to be mindful of that when looking at units. Sometimes there are spots available to rent or buy from individual owners, but you’ll have to pay that in addition to your mortgage amount.
Now some condo buildings that have parking lots, rather than an underground garage parking, have either assigned spots or open parking. Usually permit required parking.
Storage units however are a different story. Generally speaking, storage units were almost always an additional cost because few were built. This is where I get to show off my Economics Degree – supply was low, and demand is high…do we need a chart? No, I didn’t think so either. Usually storage units go for about $5k, but they can vary on size. They tend to be 5×5 spaces of chain link and a lock. Good for random junk you don’t want in your condo.
Both of these things effect pricing so keep that in mind when evaluating different units.