Are you considering buying an apartment together with your partner? That is great news! It is a big step for all couples. However, be sure that it will be very stressful and complex. Especially if you are buying an apartment in NYC whose real estate market can be hectic. You will need to research the market, check all the listings, hire a real estate agent, hire movers, and prepare for this big move. Yes, that is a lot to handle. But, do not worry, we are here to help you out. So, if you need some advice about the things to have in mind when buying an apartment in NYC with your partner, keep on reading.
Check the Real Estate Market First When Buying an Apartment in NYC
First things first, before rashly buying an apartment in NYC, you have to do market research as well as check all the facts about NYC real estate market. Thus, go online and checking different listings. Do not be surprised when you see all the price tags. For instance, if you decide to settle in Manhattan, be prepared to pay around $1,376 per square foot. Of course, Manhattan is the most expensive place to live, so it would probably be a good idea to settle in some other borough. Besides Manhattan, you can choose between Brooklyn, Staten Island, the Bronx and Queens. Take all aspects into consideration, think about your needs and your budget before making any decision. Recently, Brooklyn has proven to be interesting for young couples especially. So, if you decide to settle down in Brooklyn, you will not regret it.
Hire a Real Estate Agent
Many people avoid this step and try to find their perfect home by themselves. However, in most cases, couples realize that this was a mistake. Why? Well, first, because New York City is huge. As previously mentioned, there are five boroughs, each of which has hundreds of neighborhoods. So, it can be really hard to check and research everything, especially if you have never lived in New York before. Moreover, the market is very competitive. That is, the price may go up, or somebody else will take it until you arrive. So, yes, buying an apartment in NYC with your partner can be tricky. Thus, do yourselves a favor and hire a real estate agent. He or she will find you a perfect home in no time. Just be sure to know what you want and need, as well as what are the limits of your budget.
Prepare for Living Tiny
One thing is for sure, living in New York does not only come with a hefty price tag, but it also comes with narrow walls too. So, prepare yourselves for living tiny. It is not going to be easy, but hey, it is New York. This state is one of the most expensive places in the world to live in. Besides housing, you will have to pay a lot for all everyday stuff like groceries, bills, entertainment, etc. If you are not careful, you will soon break your bank. Thus, as apartments are so expensive, all couples decide that buying something smaller is the way to go. So, do not overpack. But, many said that this was not a bad thing at all as it helps people focus more on themselves than on material things. So, have that in mind when buying an apartment in NYC with your partner.
Declutter Before Packing
As mentioned above, when buying an apartment in NYC, you will have to prepare for living tiny. Unless you are a millionaire. If you are not, then, you and your partner will have to settle for a studio or a one-bedroom apartment. That can totally work. So do not worry yet! You just have to be ready to leave most of your stuff back home and get ready for the arrival of your movers properly. That means decluttering! So, pack only what is absolutely necessary, irreplaceable and valuable to you two. There is not going to be a place for all your little knick-knacks. Consider donating them to your local charity or selling them online. However, if you really want to keep all your stuff, then renting a storage unity will be your only option.
Invest in Proper Furniture
When buying an apartment in NYC, you are probably going to get one unfurnished and equipt it yourselves. That is a great way to add your own personal touches and prepare your home for moving in. But, bear in mind that as you will be living in a tiny place, you must invest in the proper kind of furniture. So, nothing bulky and big. Focus on furniture items that have many purposes. For instance, you can buy a couch that can be unfolded and used as a guest bed when you have visitors over. Or, get an ottoman that serves both as an additional seat, a table and can be opened for extra storage.
Most importantly, think about items that can provide extra storage. Those have to be items that can be opened and unfolded. Besides ottomans, you can buy beds with extra space underneath, chairs that can be unfolded when necessary or tables that can be used for many purposes. Also, install a lot of shelving, which can also increase the value of your apartment later on and they provide a lot of additional space.