Buying in New NYC Buildings: How to Get a Head Start

With apartment rents in Manhattan continuing to shoot up every day, it is now rather commonplace to consider becoming a homeowner in the city rather than a tenant. With several new developments currently being built all over New York City, there is a large number of options to choose from as your next home. With some research, one can find their next home in the slew of new construction in Manhattan, and get a head start in the race to get such residences. After all, New York City’s real estate market is an extremely tough and fickle one, and getting a good pad is more often a case of being the early bird that catches the worm.

An article published in the Metro New York listed a number of tips to help you in the process of buying the apartment of your dreams. The first step, of course, is to check your financial situation. These are the basics: make sure your credit is good and also make sure that you have enough to spend on a down payment. If you’re ready financially, then looking for an apartment in New York City becomes substantially easier. Once you know your budget, you can find a reliable developer and/or broker and sift through the various new buildings that are popping up in Manhattan to select the one that’s just right for you.

Once you begin your research though, it is vital that you contact the required agents to make your interest in a building known as soon as possible. In the case of new constructions, the Metro article cites a developer who admits that when new buildings do come up on the market, they call the clients who called them first: “So, the earlier you get in, the better ability you'll have to get an apartment there [and] to get your choice of what's available.” So go on out and scout around for the most popular new buildings in the city—remember, if you play your cards right, you could be not just a Manhattan resident, but a Manhattan apartment owner as well.