Living a grownup life sounds like a fun thing to do. In reality, it is a complicated process of chasing from one goal to another. Taking those big steps is never easy but it is exciting and it will give you satisfaction with the realization of each new base. One of those goals is having your own place. Achieving that is a serious task, but doing it in a Big Apple, in that big hive is an assignment that needs to be tackled seriously. If your choice is charming Brooklyn, you should listen to a couple of useful tips suggested in this complete guide for buying an apartment in Brooklyn.
One in a million
Buying an apartment is a big step. Making a decision to achieve that and live in Brooklyn is not easy. After making that huge decision, you should try to help yourself. There are some things that you must take look at in order to avoid mistakes some people make when buying real estate. From looking at the physical state of the apartment to the paper state there are things you should do and things you shouldn’t.
No matter which part of Brooklyn you choose every single condo has something similar. Especially in the USA, these are things you must do before buying an apartment:
- You should have a buyer’s agent
- Don’t ignore urban planning
- Always ask for a commission rebate
- Consider the resale value, just in case
- Never skip a home inspection
- Plan for closing costs
After doing this, don’t forget about moving. You can always find reliable assistance on brooklynmoversnewyork.com. It is important to have someone to count on in these hard times. They can help you to relocate to your new address and save you from unnecessary confusion and panic.
Have a buyer’s agent
Buying a home is usually one of the greatest investments in ordinary people’s life. Having that in mind you need professional help doing something like that. This is not buying a cheap toy in a store, this is investing a good part of your life savings and future income. The mistake that people make here is contacting the seller’s agent directly. This is a bad choice, because, no matter how nice and polite these agents are, they represent a seller’s interests and not yours as a buyer. On the other hand, the buyer’s agent is here to make a better deal for you as a buyer. Always try to pick someone with a bit more experience. Hand down you will pay for agent some extra, but when talking about home prices in Brooklyn, one percent in-home price is six, seven, or even more thousands of dollars.
Do not ignore Urban planning
When investing in real estate in Brooklyn, where every day something is happening, you must take into consideration urban planning. Maybe a new construction yard will be on the other side of the street, a newly planned building will shut down that wonderful view you paid extra to have. When it is gone, the price is crumbling down with your view going away. Re-sale value will depend on that what will be built close by. With such fast development of the new project in Brooklyn, you will want to know how these changes will affect your future life and the prices around you. Ask your agent for an opinion, try to check on public domains on the internet what is planned to be built.
One of the good new neighborhoods to buy an apartment at a lower rate is Gowanus. It used to be a marsh and a creek, and it is built around the namesake canal around 1860. It is born or created however you like in the industrial zone of Brooklyn. Nowadays, it is a mixture of classic houses and former warehouses converted to some sort of living space. Have in mind that, when moving in here you can find help in the area and reliable assistance. After all the fuss about buying an apartment in Brooklyn, you can be at your new address in no time. These local services can be of huge help to you when moving on this heaven on earth. People call Gowanus like this because of the warehouses that offer large space for all kinds of studios. Besides that, the place is covered with trendy bars and nightclubs which bring up life into this place during the night.
Ask for a commission rebate
Common mistake buyers make is not asking the buyer’s broker for a commission rebate. A commission rebate, or in other words, a home buyer rebate is a rebate from a real estate agent. This one is representing a buyer to their client. In some cases, you may take this as cash at the closing table. When buying an apartment in Brooklyn, you should know that, usually, commission rebate is around two percent of the total value. So always ask for it, it can be several thousands of dollars.
Always consider the resale value
As stated before buying an apartment is a long-time decision and a big investment. The place is like your dreams, after all, you have chosen it wisely to fulfill your needs. But life is an ongoing live show. Things change, people change, everything could change in a minute.
Sometimes we need to move on and leave things behinds. In some cases, that means moving to the next living location. When leaving, it is normal to sell an old apartment. When buying an apartment ask your real estate agent about the pros and cons of re-selling it in the near or far future and don’t be afraid to inform about the mortgage.
Newer skip a home inspection
The home inspection is a must-do. Always but always check what are you buying. When buying an apartment in Brooklyn, go in there and check everything. People often wrongly assume that building management takes care of most things. Well, they do not. Even if you have to pay inspectors to do this job for you, it is a small price compared to what may show up. Simply, you do not want any surprises. From bad plumbing to bad wiring, if it is not a new building, you should expect some of these things. Check bathrooms especially, and ask for roof condition. Find professionals to bring tools and check. The cost of repairing bad plumbing, wiring, or even a leaking roof is far bigger than paying a home inspection to take a look and do their job.
Plan for closing costs
Brooklyn houses and apartments are not cheap. You can say that they are expensive so it takes time to save up so you can make a such big purchase. Do not be lazy and do your research, to find about total closing deal costing. Closing costs can be significant in the price range of Brooklyn real estate. Brooklyn closing costs are in the range from two to five percent depending on the part where you are buying your real estate. So take this into consideration when planning to buy. Do not get surprised and empty-handed at the end of a day.
Buying an apartment in Brooklyn can be a stressful thing to do but in the end, it will worth all the effort and money. At the end of this bumpy road, you will have your own place, your peace of heaven.