I rent in Manhattan. Is buying in Brooklyn right for me?
This is actually a common trend for residents who rent in Manhattan to buy their first apartment in Brooklyn. The expensive Manhattan rents that renters are used to paying don't necessarily translate into their ability to buy a condo or co-op in Manhattan, since the property prices are significantly higher in most parts of Manhattan, which also translate into higher down payments.
Therefore, it is very common for a first-time homebuyer to consider buying in Brooklyn, even though they've been living in Manhattan all of this time. We've worked with many clients who have gone through this process.
Read:First-Time Homebuyer Guideand Should I Buy an Apartment in NYC?
Buying real estate in Brooklyn is an investment.Even if you don't consider yourself an investor, buying into the Brooklyn condo market is an investment, and it is a very good one at that. Whether you are looking to buy into established Brooklyn waterfront neighborhoods or up-and-coming, gentrifying neighborhoods, the Brooklyn market continues to evolve.
Some great Brooklyn resources to look into:
Looking to learn more about the Brooklyn real estate market?
Don't hesitate to reach out to usfor a complimentary consultation. We are Brooklyn experts and would be happy to assist you in your pursuit of New York City real estate.
