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By urban living | ESSENTIALS | 14 Oct 2014

Buying Apartments in NYC: Is the Market Really As Tough As It Seems?

The housing scene in New York City is known for being competitive and cutthroat, thanks to the thousands of people relocating to the city or moving among its boroughs. Still, the sheer number of apartments and housing options in the city mean that you will find the ideal apartment for your needs. Here are a few NYC apartment-hunting tips to keep in mind:

Know Your Neighborhoods

Chances are you will not be living across from Central Park or one of the trendiest neighborhoods. Thankfully, there are a wide variety of apartments for sale in NYC, especially as you explore the outer boroughs. Most of New York City’s neighborhoods have unique personalities and a variety of local establishments, giving you the chance to connect with your mini-community. Before browsing apartments, make a list of the neighborhoods you consider ‘ideal’, ‘almost as good’, ‘doable’, and ‘not an option’.

Many Price Points

Are you going to have roommates, or will paying for your new place come solely out of your paycheck? Before setting a budget for rent, you should factor in any additional costs such as utilities, laundry facilities, parking or transportation fees, and Internet or cable. Your apartment’s base rent may or may not cover any of these, so it is important to adjust your budget accordingly. Thankfully, the number of apartments for sale in NYC are listed at a variety of price points. Tiny one bedrooms or studios can be comfortable for one, and larger one-bedroom apartments could be converted into a second bedroom. There are also a large number of multi-bedroom apartments with fully equipped living rooms and kitchens that may be ideal for you and a few roommates. Before signing anything, be sure your landlord knows the exact number of tenants planning to move in.

Choice of Furnished or Unfurnished

Even if you own some furniture, you may realize that it is either not enough to fill an apartment or that it would be much too expensive and difficult to move. Consider choosing a furnished apartment if you are moving to NYC for the first time or relocating from across the country. If you prefer an unfurnished apartment, be sure to ask what it is included, such as major appliances.

Acting Fast is Essential

One of the most important elements of apartment hunting is your preparedness. Make sure you have any necessary documents ready to submit, such as proof of the previous residence or a pay stub from your job. You can spend much time as you need browsing listings online or in person, but you should be ready to follow through quickly once you have made a decision.

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