The best places to buy
Realtors often advise investors to invest in areas where we expect any construction, they say, "be in the spotlight." For example, you can buy an apartment for rent east of the Upper East Side, where in 2016, is expected to open a new metro station.
It is necessary to pay attention to the ratio of cost per square meter and rent. For example, in the Harlem apartment worth 900 thousand. USD. For rent for 3500 USD. Per month, and in the Midtown East at the same price offered for rent apartment for 500 thousand. Dollars. Based on the rental rates, it is advantageous to buy housing on profitable 40-59 streets of Midtown East, as well as in the financial district.
Yield for apartments in New York is an average of 4-5% per annum. According to Douglas Elliman, rental of property in Manhattan costs an average of $ 3,902. As of May 2014. The apartment is worth 450 thousand. Dollars. One bedroom, located in Midtown, you can donate 2 $ 800. Per month, condominium 1 million. next to Central Park - 3 $ 500., loft worth 1.85 million dollars. Chelsea - 8 $ 150. per month.
According to Douglas Elliman, Manhattan apartments in buildings with doormen are 3725 dollars., No doorman - 2750 dollars. Lofts shall be the average for 5949 dollars., Luxury apartments (top 10%) - for 7950 USD., Apartment the super-class (top 5%) - 9 $ 950. New buildings are offered for rent for 4730 USD. per month.
While searching the area for rental to recommended to pay attention to the following:
Demographic situation. Favorable factors for investment are considered: predominance of women (they tend to be more sedentary than men), a high percentage of unmarried (they often rent apartments), the number of overweight young people and pensioners over the number of middle-aged people (the latter tend to acquire its own housing). Get information on the demographic situation in New York, you can use sites City-Data.Com and NeighborhoodScout.Com.
Earnings population. High monthly income refers to the good solvency of potential tenants. Most "rich" areas of New York - Lenox Hill, Union Square North, Flatiron, Carnegie Hill and TriBeCa (an average of over 300 thousand. USD. Per year per household).
The presence of educational institutions. If there are universities, that is, students who will be looking for a place to live off campus. If you focus on student tenants, choose a house in Noho and Nolite, which is located near the University of New York, or to the north of Central Park, where the Columbia University and City College of New York.
The presence of companies and businesses whose employees can take the apartment. Stability and profitability of the companies that are major employers, is a significant factor. For example, a highly sought after apartments in the financial district (Wall Street).
Transport links. Should choose a place with excellent transport links to the city center. These include Battery Park City, Financial District, Midtown West, and SoHo Tribeca. In addition, look for apartments in buildings near the metro stations.
Availability of infrastructure and recreation (parks, cinemas, theaters, sports facilities), as well as shops. Determine the distance to the nearest shops and cafes, you can use the site WalkScore.Com, and Google Maps. According to New York Magazine, many shops in the areas of Nolita, Little Italy, Midtown, East Village and Dumbo. Restaurants are rich in Nolita, Little Italy, West Village and Meatpacking District. "Green" areas considered Brighton Beach, Inwood, West Village, Meatpacking District, Upper West Side and Brooklyn Heights. The best places for nightlife - East Village and Lower East Side.
Reputation district. About this, read the article "Real Estate in New York and the surrounding area where Russian immigrants to settle." Among the safest areas - New Dorp, Tribeca and Brooklyn Heights.
How to choose the right property?
The cost of housing for rent in New York begins at about 500 thousand. Dollars. Investors have a choice - buy an apartment house or an apartment. You can, for example, bought for 700 thousand. USD. Small apartment building in Brooklyn, Bushwick, or (at the same price) condo in Midtown. In the case of apartment house yields may be higher, but will require increased cost for maintenance and more time managing.
Most resistant to fluctuations in the economy are considered the building class B, built 10-20 years ago and are in good condition. They are located in prime locations and populated middle class. The house is still quite new and equipped with high comfort elements, but they are available for average investors and tenants. New Class A building with swimming pools and gyms more sensitive than others to respond to fluctuations in the economy.
When buying the apartment building you need to pay attention to the presence of a number of parking, equipped including for people with disabilities. Fence area, lockable gate, alarm system and surveillance cameras - all this creates the residents feeling of safety and security, and allows homeowners to raise rents. A significant role is also played by neutral decoration of apartments and views.
When choosing an apartment renters pay attention, especially not on the area, and on the number of bedrooms, so buy a house with several small bedrooms, and not with one large bedroom. According NakedApartments.Som, the greatest demand in New York are two-bedroom apartments: 38% of users are looking for just such a removable housing. Most often, such objects are interested in Brooklyn and Queens: 43 and 42% of the total number of requests for each area respectively.
Realtors often advise investors to invest in areas where we expect any construction, they say, "be in the spotlight." For example, you can buy an apartment for rent east of the Upper East Side, where in 2016, is expected to open a new metro station.
It is necessary to pay attention to the ratio of cost per square meter and rent. For example, in the Harlem apartment worth 900 thousand. USD. For rent for 3500 USD. Per month, and in the Midtown East at the same price offered for rent apartment for 500 thousand. Dollars. Based on the rental rates, it is advantageous to buy housing on profitable 40-59 streets of Midtown East, as well as in the financial district.
Yield for apartments in New York is an average of 4-5% per annum. According to Douglas Elliman, rental of property in Manhattan costs an average of $ 3,902. As of May 2014. The apartment is worth 450 thousand. Dollars. One bedroom, located in Midtown, you can donate 2 $ 800. Per month, condominium 1 million. next to Central Park - 3 $ 500., loft worth 1.85 million dollars. Chelsea - 8 $ 150. per month.
According to Douglas Elliman, Manhattan apartments in buildings with doormen are 3725 dollars., No doorman - 2750 dollars. Lofts shall be the average for 5949 dollars., Luxury apartments (top 10%) - for 7950 USD., Apartment the super-class (top 5%) - 9 $ 950. New buildings are offered for rent for 4730 USD. per month.
While searching the area for rental to recommended to pay attention to the following:
Demographic situation. Favorable factors for investment are considered: predominance of women (they tend to be more sedentary than men), a high percentage of unmarried (they often rent apartments), the number of overweight young people and pensioners over the number of middle-aged people (the latter tend to acquire its own housing). Get information on the demographic situation in New York, you can use sites City-Data.Com and NeighborhoodScout.Com.
Earnings population. High monthly income refers to the good solvency of potential tenants. Most "rich" areas of New York - Lenox Hill, Union Square North, Flatiron, Carnegie Hill and TriBeCa (an average of over 300 thousand. USD. Per year per household).
The presence of educational institutions. If there are universities, that is, students who will be looking for a place to live off campus. If you focus on student tenants, choose a house in Noho and Nolite, which is located near the University of New York, or to the north of Central Park, where the Columbia University and City College of New York.
The presence of companies and businesses whose employees can take the apartment. Stability and profitability of the companies that are major employers, is a significant factor. For example, a highly sought after apartments in the financial district (Wall Street).
Transport links. Should choose a place with excellent transport links to the city center. These include Battery Park City, Financial District, Midtown West, and SoHo Tribeca. In addition, look for apartments in buildings near the metro stations.
Availability of infrastructure and recreation (parks, cinemas, theaters, sports facilities), as well as shops. Determine the distance to the nearest shops and cafes, you can use the site WalkScore.Com, and Google Maps. According to New York Magazine, many shops in the areas of Nolita, Little Italy, Midtown, East Village and Dumbo. Restaurants are rich in Nolita, Little Italy, West Village and Meatpacking District. "Green" areas considered Brighton Beach, Inwood, West Village, Meatpacking District, Upper West Side and Brooklyn Heights. The best places for nightlife - East Village and Lower East Side.
Reputation district. About this, read the article "Real Estate in New York and the surrounding area where Russian immigrants to settle." Among the safest areas - New Dorp, Tribeca and Brooklyn Heights.
How to choose the right property?
The cost of housing for rent in New York begins at about 500 thousand. Dollars. Investors have a choice - buy an apartment house or an apartment. You can, for example, bought for 700 thousand. USD. Small apartment building in Brooklyn, Bushwick, or (at the same price) condo in Midtown. In the case of apartment house yields may be higher, but will require increased cost for maintenance and more time managing.
Most resistant to fluctuations in the economy are considered the building class B, built 10-20 years ago and are in good condition. They are located in prime locations and populated middle class. The house is still quite new and equipped with high comfort elements, but they are available for average investors and tenants. New Class A building with swimming pools and gyms more sensitive than others to respond to fluctuations in the economy.
When buying the apartment building you need to pay attention to the presence of a number of parking, equipped including for people with disabilities. Fence area, lockable gate, alarm system and surveillance cameras - all this creates the residents feeling of safety and security, and allows homeowners to raise rents. A significant role is also played by neutral decoration of apartments and views.
When choosing an apartment renters pay attention, especially not on the area, and on the number of bedrooms, so buy a house with several small bedrooms, and not with one large bedroom. According NakedApartments.Som, the greatest demand in New York are two-bedroom apartments: 38% of users are looking for just such a removable housing. Most often, such objects are interested in Brooklyn and Queens: 43 and 42% of the total number of requests for each area respectively.
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