What is important to consider (outside of the unit itself) when purchasing real estate in New York City? While some may be okay with walking 15 minutes to the nearest subway station, others may wish to live right next to one or prefer to drive instead. Considering your preferences is crucial, so that you do not experience buyer’s remorse down the line.
Some relevant considerations include:
- The distance to the nearest subway station from your apartment and where it leads;[1]
- Bus service;[2]
- Whether the building is a “walk-up” and what floor you would be living on;[3]
- School districts;[4]
- Nearby stores/businesses (this could include your grocery store of choice or a gym);
- Availability of cycling infrastructure;[5]
- and, of course, anything else you find relevant.
We propose that you order these considerations in order of importance and take a mental note of any non-negotiables. Doing so will allow you to streamline your homebuying process and improve your chances of finding not only a home you love, but also a neighborhood that you enjoy just as much.[6]
Should you wish to learn more, please visit Margaret Heidenry’s discussion of some of these factors in her article How’s the Commute? And Other Factors You Should Consider in New York City,[7] linked here for your convenience. We also recommend consulting a real estate agent as part of your property search, as they will have the necessary expertise to help answer your questions.
Notes:
[1] Margaret Heidenry, How’s the Commute? And Other Factors You Should Consider in New York City, Realtor.com (Sept. 1, 2018), https://www.realtor.com/advice/guide/new-york-city-neighborhood-factors-to-consider/.
[2] Id.
[3] Id.
[4] Id.
[5] Id.
[6] Id.
[7] Id.