By Bohemia Agent Michaela Morton
Whether you’ve done your time on the rental scene, bought and sold in other markets, or are looking to make smarter investments with the money you’ve saved, now’s a great time to jump into the co-op and condominium market, especially uptown! Here are 6 of the many signs that you’re ready to buy, Bohemia style:
· You’re sick of flushing your funds. Let’s face it: renting is a necessary evil. At a certain price point, it makes sense. But when you’ve saved up for a down payment and soured on whitewashing walls for every move-out, you’re ready for home equity, tax deductions, and the freedom to finally gut that scuzzy bathroom. If you’re already paying $2000 a month, why not make your money do work?
· You’re itching for an art project. C’mon. We’ve all scoured Pinterest for tiny home tips, and what better palette than your very own place? It’s a savvy investment choice: in growing markets like Harlem, Inwood, and the Heights, a fixer-upper isn’t just a fun project – it’s a ticket to long-term profits.
· You’re past the 5 year mark. When you were a child, you spake as a child, you thought as a child, you kept your options open as a child. But now that you’ve lived in NYC long enough to claim more than just your postal code, it’s time to stake your territory. Or:
· Or you’re just arriving. Hear me out: it’s economics. If you’re arriving fresh and you’ve got the money to make it work, there’s no reason to delay a purchase in NYC’s up-swinging sales market (especially where rents are quickly outstripping mortgages, and there are no guarantees that your rent won’t jack when Whole Foods moves in). When uptown hits the roof in five years, you’ll thank me.
· You’ve got a family plan. Meaning: you’ve got allies and creativity. Rich uncle? Timesharing colleagues? European cousins? Even if you couldn’t make the purchase happen on your own, savvy collectivism means a win for everyone. But investor or lifer, the best reason to buy is:
· You know your neighborhood, and you’re ready to go all in. The love of New Yorkers for their local digs is as fierce as any you’ll find. When you know the names of everyone at your favorite wine bar, bodega, laundromat, and gym – when you’re scoping school districts and planning playdates – when your kids would cry if they weren’t a block from their favorite park – and when you’re ready to commit to your small-town-in-the-big-city, it’s time to dig in and get a deed.
Bohemians know uptown like no-one else – so if you need an advisor on your Upper Manhattan purchase, give us a call. And as Manhattan travelers and savvy scopers ourselves, we can help you buy wherever your heart desires, from Brooklyn to Battery Park and beyond!