As we gear up for one of our fascinating events go from renting to buying in 3 simple steps ..Betty created this amazing piece. Enjoy the read and look out for the free event.
Buying property is always risky business, which is perfectly understandable. Such a large investment will always have life altering effects on you and your family. So, you should think it through as much as possible and make a plan of what you’re going to do. To help you out, here are 5 things you should know before buying a house in NYC. In addition to that, we’re here to help you answer any questions you might have.
1. Whether I should rent or buy a property in NYC
One of the first things you’ll need to decide when buying a house in NYC is whether you actually want to buy it. Even though this sounds like a bad joke, you’ll still need to put all the things on paper and make a rational decision. This is not about whether you want to buy a house in New York or whether you think you’re ready. It’s about cold hard facts and possibilities.
First, you’ll need to check out the standard requirements you should meet before buying a New York City home. Once you’re done with this, it’s time to focus on your budget. Don’t just take into account the price of the house you’re buying, think about the life costs and possibilities. You shouldn’t buy property in New York unless you’re planning to use it. Rent it, live in it or take it down to build something better, but you’ll need to use it, or it will just bleed your budget away.
Balance your budget before you decide to buy a new house!
2. I wish I knew who to ask about buying a house in NYC
Don’t be afraid to get your real estate advice from multiple sources. You can ask anyone, from your best friends to the old lady working at the DMV, but know whose advice to listen to and whose to disregard. In addition to this, you can get free real estate advice, as well as information on hot property deals at askimma.com. Even though the consultation is free, the information you’ll receive is priceless! These insights are gathered and evaluated by our team, so you’ll get only the best deals and the best locations. We’re here for you so you don’t have to be unprepared when buying a house in NYC.
Consult the local real estate agents before buying a house in NYC
3. You should check everything… twice
There are many properties which look amazing at first glance but turn out to be money sucking pits once you start working on them. This is why you’ll need to vet every house meticulously before you even think about buying it! If you need to, feel free to bring your own experts to take a look at each potential property. On the other hand, if you’re doing the evaluation by yourself, here are some things you should pay attention to.
Beware:
- Asbestos – common in old buildings and highly toxic, this material is a big red flag when buying a property. Even small amounts of it in the walls can have serious and permanent consequences for your health.
- Insects – or any small pests. They can cause structural damage to your house. Fumigating is expensive and makes your home uninhabitable for a period of time, which is in itself pretty bad.
- Moisture – the main problem for houses made of wood in cities close to a river. Unfortunately, there are a lot of wooden houses in the City. So, when buying a house in NYC, check if moisture did any damage to the potential homes.
4. You should keep your friends close but your handymen closer
Buying a house in NYC is easier when you have some friends in the Big Apple. You can crash at their place while looking for potential houses to purchase. In addition to this, they can show you the ins and outs of the City. It’s good to have some inside information from people you trust, if for nothing else, then for which the best pubs to hit on Friday night are. Good friends don’t have to be your mates! Your NYC professional movers can also give you good advice about the city and the neighborhood when moving you in. Don’t be afraid to ask. If you’re having trouble finding the right moving company, we suggest usantini.com. They are reliable movers with a long experience in NYC relocation. They’ll help you move into your new home and give you helpful advice about New York.
However, nothing is as important for your property as finding a good handyman. A good handyman can be a blessing for your home, while a bad one can make things worse. So, once you have your desired NYC property, make sure you find reliable people to keep it together.
A good and reliable handyman is worth gold in New York.
5. They’re a lot smaller than they seem
New York is home to around nine million people and with so many people on such a small space, this city needs to make do. This is why most of the real estate in NYC is compact, rather than spacious. This may prove an issue for some homebuyers.
Since you’ll probably move from a much bigger place to your New York house, you’ll need to cut down on your belongings. There just won’t be enough space for you and all your things. A good way to rid yourself of some of the excess things is to have a garage sale before the move. If this doesn’t work as well as you’d hoped, you can always donate or just toss the things which won’t fit into your brand new NYC house.
On the other hand, what if you don’t want to get rid of anything? What if your items are of sentimental value or just too necessary to throw away. In that case, we suggest you keep your belongings in a safe storage facility. This is the best solution if you want to keep your items from harm’s way and out of your new house.
Most NYC houses will be smaller than what you’re used to.
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