Thursday, July 25, 2013

Knowing the Ins and Outs of NYC Real Estate

Living in New York City can be drastically different from other areas in the US. Prices of NYC real estate can differ quite a bit from various areas within the US. As an example, if you were interested in living in Upper West Side, the rates of real estate can be on the steeper side. However, if you look at similar apartment sales NYC in West End, the prices would be much lower. It all depends on the location within NYC and your budget or preferences. If you are feeling rich and have the money at hand, there are plenty of high end areas within like Upper East Side and the Midtown West and Hell's Kitchen areas, which can fulfill your expectations.
Doubling Prices
As per the recent report from a leading organization in the NYC real estate segment, housing prices have started doubling over the past decade within the Lower Manhattan and Battery Park City areas. Consider this fact. Just ten years back average prices of houses were around 710000 USD but now the same house would cost as much as 1.4 million USD. However, the recent statistics also show that apartment sales NYC have been increasing because of a drop of 12% during the past year.
Agents Helpful
While prices in the NYC real estate have been seeing upwards as well as downward trends, the good thing about all of this is that you can easily hire professional real estate brokers to help you out. If you want apartment rentals NYC these agents can help you get access to just the kind of place you are looking for. While people all across the US have started looking for apartment rentals Chelsea as well as other areas such as Fort Greene and Clinton Hill it is the NYC real estate agents who perfect the art of finding the best suited apartments as per individual customer needs. Most people who want to get apartment rentals NYC will need to pay something called finder's fee. However, on the whole, apartment rentals NYC prices have been dropping with home rates.
Least Expensive
If you are on a budget and still want some nice apartment rentals NYC there are some places, which are available at affordable rates. These include areas like Brooklyn Heights and Cobble Hill etc. In such areas typical studio apartments begin at rates like 1200 USD and the three bedroom apartments are priced at 3000 USD. The high end areas like Upper West Side, Upper East Side or Midtown areas begin at rates like 1600 USD and can increase by as much as 12000 USD every month.
If you feel you are ready to stay in the famed NYC real estate prime properties, you should also be ready to pay a good amount for either buying or planning travel to and from work if you choose the more affordable apartment rentals NYC. In any case, it is always best to seek professional assistance as such companies have contacts, networking with the best prime properties and will get you better deals in the process.

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