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By urban living | ESSENTIALS | 22 Oct 2014

Tips to Simplify the Search for Your Perfect NYC Home

New York City boasts a huge array of housing options, from five-story walk-ups to multi-bedroom apartments. With a variety of boroughs, districts, and neighborhoods, you may be surprised to find many houses for sale within your price range. If you are looking to rent or purchase a home, follow these tips to navigate the process with ease.

Examine Your Budget

Home ownership is rewarding, but it can be easy to get swept up in the  glamor of owning a home outside your price point. Before browsing any options online or in person, create a budget and stick to it. Be sure to include a rough estimate of electric, water, insurance, transportation, and any other associated costs. A good real estate broker will work with you to find the best home for you within your price range, without pressuring you to increase your budget.

Know Your Neighborhood

When it comes to New York City neighborhoods, there are many factors to consider. Are the houses on your block old and regulated by neighborhood association rules? Is your new home in a trendy district that may be noisy or high-traffic? Do you have children who need a school or park within walking distance? Are you easily able to access grocery stores or other markets? Some factors may be flexible, but knowing which points you are unwilling to budge on will help narrow your search.

Parking and Transportation Considerations

While many homes for sale in NYC have a garage, others may only have restricted street parking. If you have multiple vehicles or work unusual hours, be sure to ask about parking restrictions or fees. Otherwise, consider using New York’s well established public transportation system to get around. Be sure to pinpoint the nearest bus and subway stops and calculate the length of your new commute before committing to your new house or apartment.

Ask for Disclosure Statements

Disclosure statements are a way for you, the buyer, to learn more about the house and its surroundings. The seller is responsible for collecting information about the property, such as its leaky windows or loud neighbors. Other forms of disclosure statements include notices about nearby, long-term construction or development projects. Through the use of disclosure statements, the buyer becomes informed, and the seller is more protected from future legal action.

Prepare for a Property Inspection

Full disclosure up front can help the seller and give you, the buyer, peace of mind. Still, controls are essential before closing. A property inspection is typically performed while in escrow, where an independent party holds onto funds until both seller and buyer have committed to the sale. The home inspection may bring new issues to light, which you can discuss with your seller or real estate broker.

Once you are prepared to begin the search, head to http://www.urbanliving.net/ to browse  through hundreds of the homes for sale or rent in NYC, and enjoy the process of finding your new property. Feel free to reach out to one of our experienced brokers with any questions you might have. Good luck!

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