5 Smart Tips on How to Buy Your First NYC Property
1. Save a lot of money
Whatever figure you have in your mind right now to prepare for an NYC property, it’s probably too low. Despite fluctuations in the housing market, the Big Apple is notorious for its property value, which is what makes it so great for investors and buyers alike.
The general rule of thumb is to save a minimum of 20% of your estimated purchase price, but some property sellers may ask you to put down up to 30%. You’ll be able to determine what your possible purchase price is by getting pre-approved.