For many people living in or moving to New York City, there is no more desirable place to live than in the heart of the Big Apple: Manhattan. However, when it comes to buying Manhattan real estate, the process of finding and securing a home can sometimes be a challenge. Due to the high demand of prime properties in the city, many buyers have found there is a whole new set of rules when it comes to buying properties in this highly-sought after area. While many times there is no way to avoid the highly competitive Manhattan real estate market, there are things that buyers can keep in mind to make certain they are searching amongst the best homes that Manhattan has to offer. Here are a few of the top things to look for when shopping for real estate in this part of the city.
There is More to the Size of an Apartment Than Square Footage
Just because an apartment in Manhattan has a certain amount of square footage, it doesn’t mean that it is necessarily as spacious as the next. Since homes in this area are often confined to relatively small spaces within large towers, they have to be creative with layouts. An apartment can waste square footage with things like awkward corners and long hallways. Never be fooled by the amount of square footage mentioned on a listing and wait until you see inside the home.
Look to the Future
When buying a piece of Manhattan real estate or real estate in area are of New York, it is important to look at the future of your block or neighborhood. Do your research and see what is coming to the area in the next few years. The addition of restaurants, buildings and attractions can end up drastically increasing a home’s resale value.
Look at the Fine Print
When buying an apartment in Manhattan, one of the biggest appeals of these properties is the stunning buildings that they come in. With so many amenities in many of these massive towers it can be easy to quickly sign on the dotted line without reading the fine print. Make sure you are aware of additional HOA fees or condo fees that can drastically increase the price of the home.
Keep these tips in mind when house hunting in Manhattan, and you may be on your way to the New York City home of your dreams.
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