Living in NYC is like a dream, especially in Manhattan. It is the most popular part of this city with a lot of tourists, restaurants, theaters, companies, parks, etc. Manhattan is a concrete jungle and if you want to move here for good and to buy a home, rules are a little bit different because of the current coronavirus pandemic. People are practicing social distancing and quarantine. That is why buying an apartment in Manhattan remotely is an option right now.
Another reason for buying a property remotely is if you don’t live currently in the USA and you cannot come. So, how to accomplish this task and buy a home without regrets. Explore NYC’s real estate market and see what it can offer you when it comes to housing.
Tips for buying an apartment in Manhattan remotely
Buying a home remotely is common nowadays, not only in NY but also in the rest of the USA. If you are new at this, you will definitely need some tips to choose a perfect home even if you are not in Manhattan currently. There are some key steps to take, to make this process successful.
This process can be done remotely by both sellers and buyers too. Of course, when there is an option and you are able to see a home, then go for it. But, during the COVID-19 it is not possible, unfortunately. Before the virus, people were buying a home remotely when it is their second (vacation) home or they are out of state.
Before settling down in this part of New York City gather all info and be prepared for this big step. Housing in NYC is not affordable, especially not in Manhattan, as one of the most expensive parts in the USA, and you will spend a bigger amount of money for buying an apartment. This is why you need to think twice and to be sure about your decision.
Finding a real estate agent from Manhattan, NYC
A key is to find a real estate agent you can trust. It is the first step in this process because you will not be able to find and buy a home remotely without a realtor. Hiring NYC realtors is a big responsibility, so choose wisely.
- Find an agent who knows Manhattan well, he or she needs to be deeply familiar with the community and area.
- For buying an apartment in Manhattan remotely, an agent must have experience with those types of purchasing. Your agent must know this process forward and backward. Some people are not comfortable with the technology, but a reliable and experienced real estate agents will know how to handle the situation.
Know your finances
You already know that apartments in Manhattan are not cheap and that the average price is $945,000 and it is getting higher. Only 24% of residents here are owning a home because of the higher price, but it is worth it to live in Manhattan because this is one of the best places in the world – and the location is everything.
Know how much you can spend on purchasing a home in NYC. Before finding your perfect apartment in Manhattan, be realistic and think about the costs after buying a home too. Moving costs, utility bills, additional fees, etc.
Start searching online for Manhattan real estate
A real estate agent will look for apartments for you, but you should do research too. Make sure you are well-informed and prices, property taxes, laws, economy, etc. Also, make a plan B – it is a plan what to do with an apartment if you want to move out in the future. Will you sell it or rent it?
Be clear on what you want
You must be open with your real estate agents and tell him/her what you want in your apartment and what is your budget. Create a wishlist, but also ready to make some compromises because you probably cannot get everything on that list. When buying an apartment in Manhattan remotely an open conversation between you and your agent is a must.
Consider renting before buying
If you still having doubts about buying a home remotely, consider renting one before you buy. Especially when you know that you will spend a lot of money on buying, it is not an easy decision to make.
Organize your moving to Manhattan
While researching apartments in Manhattan, think about moving there too and transporting your household items there. How to move to NYC with ease and stress-free? Simply, by hiring a local moving company because they know this area the best. Zenith Moving as one of the moving companies from NYC is deeply familiar with the relocation process. Choose a licensed, insured, experienced, and reliable mover from NYC to help you out.
Find a storage unit in Manhattan
If your apartment is not finished and ready for moving in, where will you put all your belongings? Most people are renovating a home before moving in, and if it is a case with you too, then consider Manhattan-based unit to place your belongings.
It is one of the best options because you will know your items are in a safe place while you are remodeling your new Manhattan home. If you are buying an apartment in NYC with your partner decorate a place together and start a life in Manhattan stress-free.
When the time comes to close the deal and to actually buy a home, make sure to understand everything about remote closing. It is the last step when Buying an apartment in Manhattan remotely, but one of the most important steps. E-signatures have been recognized as legally binding but also you will need notarize signature too. NY state allows online notarization, especially when the situation with the pandemic is here.