For most people, the thought of throwing away money on rent each month doesn’t make a lot of sense. While it can be helpful to rent an apartment when you’re not sure if you’ll be staying in the area, once you’ve made a decision to live in New York City, you may want to consider apartments for sale instead of renting.
Things To Consider
It’s important to understand all the facts before considering apartments for sale in New York City. For one thing, you’ll have a mortgage and will likely have HOA fees and property tax. You’ll need to ensure that you have finances available to cover these costs each month/year and can still handle all of your other bills, such as electricity, trash, water and sewage.
Advantages Of Buying
One of the primary reasons to consider apartments for sale in New York City is that you own something that is yours to do what you please (for the most part). While you may have rules about how loud the radio can be or what you can do to the walls, you’ve got a home that is yours, as long as you continue to make the mortgage payments.
You’ve also got all the advantages of renting since you won’t have to deal with maintenance of the home or property. Plus, you’ll still be able to use all the amenities the building provides.
Downsides To Renting
Primarily, the biggest problem with renting is that you pay money each month but don’t own anything or have any say. While you’ll pay HOA fees, you may also be allowed to voice your opinion. If you miss a rent payment, you could be evicted. While you still have to make payments on the mortgage, many lenders are more lenient than a landlord would be. Visit 252 East 57th.
