Over the past few months, I’ve shared with you the advantages for buyers considering capitalizing on the current market. For those of you who have come to the conclusion that now is the right time to buy, you’re now faced with managing through the actual search and buying process.
Buying a home in NYC can be complex, unlike any other market in the U.S. On top of this, navigating through the nuances that have surfaced from the pandemic in the midst of an election year, haven’t made it any easier.
Through my experience in helping clients find the perfect home in Manhattan for over a decade now, I’ve compiled a list of points over time that one should consider before starting their search to buy a home in the greatest city in the world.
To help you through the decision-making process, I am sharing the list along with a
buyer’s guide that includes a breakdown of closing costs. Keep in mind that this list has evolved over time and will continue to do so, but this should serve as a good start.
- Various neighborhoods and their unique characteristics
- Different ownership types: condo, co-op, condop, land-lease or townhome
- Age of the building: pre-war, post-war or new development
- What amenities, if any, do you require in a building?
- Does the unit include a washer/dryer or w/d connection?
- If financing, what down payment is required for condos and co-ops.
- Do you have the funds in your bank account for the down payment or do you need to sell assets?
- Would you need to sublet the apartment at some point?
- How is the financial health of the building?
- What are the monthly fees associated with the apartment?
- Are you looking for a move-in ready home or are you willing/looking to renovate?
- Are school districts important to you?
- What is the food scene in the neighborhood?
- What type of arts and entertainment are available in the area?
- Proximity to a major grocery store
- Convenience of local shopping
- Accessibility to public transportation
- Do you prefer to be close or far from your workplace? (Each has it perks)
- Convenience of commuting to/from work
- Noise level
As I stated above, this should simply serve as a list to help you get the ball rolling. Each person’s circumstances are unique and there are always a number of questions that come up throughout the buying process. With that in mind, please know that I am happy to make myself available to you with no obligation.
