The land of business
When you go downtown during summer in Washington DC, you’ll see a sea of suits. Pants suits and traditional sports coats cover attorneys, business people, politicians, and activists of all kinds.
Traffic is legendarily bad at this time of the year; it rivals Los Angeles, Chicago, and San Francisco. It’s slow, it’s thick, everyone is hot, and judging by their wardrobe, they’ve got important places to be.
Of course, you can always take the subway; but the areas it serves are limited. However, you may be surprised at property options adjacent to a subway entrance. Such property options can save much trouble. It can be better to get a downtown apartment than a hotel room if you regularly find yourself in the District of Columbia for business or other reasons.
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The value of securing a corporate apartment in Washington DC
You’ll want to choose carefully. Sometimes an apartment should be within walking distance of a subway entrance. In other scenarios, the subway won’t play into the equation nearly so much. (Also, keep in mind, the subway in DC is not like in NYC or LA. Surprisingly, DC’s subway is relatively clean.)
You’ll want to explore what corporate apartments in Washington DC are presently available and factor in location as you determine which purchases best fit your needs. If you’re likely to be in the center of things, that will inform your choice a certain way. If where you have regular business meetings is remote, different rules apply.
Pricing: It’s a considerable reality
The ten most expensive cities in the United States are New York City, San Francisco, San Jose, Honolulu, Boston, Bethesda, Washington DC, Oakland, Seattle, and Miami. As San Jose is adjacent to San Francisco, Bethesda is adjacent to Maryland.
The point is, it doesn’t matter how savvy you are with your resources. Things are going to be costly inside the beltway. DC is the 14th most expensive city in the world. Tel Aviv, Israel presently tops that list, but it’s hard to keep contemporary on these things as the numbers keep moving. The point is, you need to budget for expensive situations.
For one thing, the world’s leaders in power routinely gather in Washington DC to make big decisions, and those decisions are as likely to be made at a fancy restaurant as they are to be made in the halls of congress. Accordingly, it would be best if you were financially and mentally prepared for both situations for business reasons.
Another reason a corporate apartment is wise is that you consolidate expenses. You’ll want to figure out how often you’re working within the beltway. If you commute daily, the time you lose in travel contending with traffic, gas expenses, food on the road, and vehicular wear and tear is likely similar to the cost of an apartment.
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Weighing alternatives to make the best choice
Everyone’s situation differs. Look at where you live and how often you do business in DC. Consider mileage, fuel expenses, what you spend on snacks or coffee, and how much time it takes to get in or out of the city. If you’re looking at a 2-hour commute of 40 miles, round-trip 80, then you’re looking at 19,200 miles a year for a 5-day week, excluding extraneous travel.
At 20 miles and $3,477 a gallon, you’re looking at $3337.92 a year in gas alone. If you go by the IRS’ vaunted 58.5 cents a mile rule for wear and tear in 2022, you’re looking at $11,232 a year. If your time is worth $50 an hour, and you spend 20 hours a week in traffic, you’re losing $48k in potential annually.
Even if your time is only worth $20 an hour, four hours in traffic a day is worth $19,200 a year in lost time. So altogether, driving could be collaterally costing you several thousand a year to a smidge under $60k annually, in terms of vehicular wear and tear and lost time. If the corporate apartment comes in at about half of travel costs, you will save by having one in DC.
Conclusion
These are hypothetical numbers. Still, consider your specific situation, and you may find these aren’t far from what you’re contending with now. The bottom line is, a corporate apartment in DC could save time and money while producing comfort and expanded productivity, and that gives you an edge in whatever professional engagements you’re involved with.
