Purchasing residential real estate is an investment. This is true even when you plan to use the property as your dream home. As a result, it is wise to look at the transaction as an investment. When making an investment, it is important to review both the risks and benefits of the purchase. When it comes to purchasing residential real estate, three of the most common risks to assess include:
New York City is a booming metropolis. In a city that has everything to offer, it is easy to forget how the things going on outside the city borders can impact life within.
When buying a residential real estate property in New York City or a surrounding area, there are many steps you must take to ensure that things progress as intended. If everything goes as planned, there will soon come a time when closing on the property is the last step in the process.
Finding a property in Brooklyn, New York, can be a real struggle. In a place where residential property can be exceedingly expensive, it's no wonder that people jump on what they call "unicorns," or deals that seem too good to be true. According to a 32-year-old man who runs a niche blog on the subject of the real estate market in brownstone Brooklyn, "what made Park Slope and Brooklyn areas so popular, when there are other areas where people can buy?" Whatever the reason, people are now turning to his blog to get ahead in the market.
While most of our residential real estate conversations on this blog center on condominiums and co-ops, the market for homes is still a vastly important (and growing) area of real estate in New York City. And according to a real estate broker, the New York residential real estate market is still wildly successful, even if it hasn't been as strong as in years past.