Tips for Choosing a Luxury Home in NYC

by | May 9, 2018 | Real Estate

Manhattan isn’t just a tourist destination– it’s a prime location for investing in your dream home. Luxury apartments, lofts, and penthouses offer various amenities and easy access to all of the gorgeous sights and culture Manhattan has to offer, such as Museum Mile, the Oculus, and the Hudson River Waterfront. But making such an important choice can be difficult. Here are some tips for choosing your new luxury residence.

Find the Right Broker

You’ll need to find the right broker if you’re seeking luxury real estate like 45 Park Place in Tribeca. The market for real estate in downtown Manhattan is unlike any other market and requires a different set of skills and knowledge. The right agent will come well-recommended with a successful track record, an established professional network, and satisfied clients. Your broker should be able to answer any questions you have, offer professional input and advice, and guide you towards various property options to suit your dreams and desires.

Prepare Your Finances

When you’re ready to purchase luxury real estate in NYC, you should work with your accountant and a financial advisor, in addition to your broker. It’s wise to research local tax and property laws, as well, and a lawyer may help in this situation. When it comes time to make your offer and go through with the purchase, cash is preferable, but you might be advised to take a loan instead. Make sure you have bank statements available to offer proof of available funds.

Consult a Home Inspector

Of course, luxury real estate is already top of the line when it comes to state-of-the-art amenities, appliances, and home security systems. A high-end home inspector will confirm that there are no issues with your new residence, and advise you on any suggested upgrades or upcoming maintenance that your home may need.

Finding your dream home is possible, and New York City is the perfect place to begin your search.

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