It may sound like an oxymoron, condos in New York City and value but it is not. The real estate market in NY is always competitive, even if it always seems to be a seller’s market. The competition for your home investment dollars can be fierce but a lot of people are not looking for the value they are just looking for the condo. If you keep your eye out for the value you will get much more bang for your investment buck.
Here are a few things any condo buyer should be looking for to ensure that they are making the right investment:
- Prime location
- Amenities
- Extras
The thing about NY real estate is that it is all going to cost around the same per square foot if it is in a good location with that being said it means that you have to look to other areas beside price to get the best value. A good example is prime location VS a good location. You can have two buildings that are only a few blocks apart that differ in value because of the view, the ease of getting to shops and what is considered “prime”. Of course the cost is going to be very similar but if you can invest in a prime location you get more value for your investment.
Amenities
Amenities matter, that’s all you need to know about value really. Once you have picked a prime location, the amenities is the next best way to get the biggest bang for your buck. Concierge services, meeting places, gyms, rooftop gathering spots these things are what makes a lifestyle, they also give your condo a lot more living space. It matters. When you are paying good money for a luxury condo you want to get the entire package.
The Extras Add Up in Value
The extras also make a difference in the amount of value you get for your real estate investment. A building that offers those extras is a far better investment option. Your condo market value will grow nicely and you will enjoy the amount of time that you live there.
You do not have to settle for less. Your real estate investment dollars can get you a lot more value at Carnegie Park. You get the prime location, you get all the amenities you could ask for and you get plenty of extras!
