Should you keep renting, or are you ready to become a homeowner?
Consider the following when making a decision:
1. Timeline: It can take three months or more from contract signing until the time you get your keys.
2. The Market is Shifting: Inventory is up and prices are going down. With more choices, it’s the perfect time for first time home buyers to start looking. [UPDATED: THE MARKET HAS SHIFTED AGAIN DUE TO COVID19]
3. Disappearing Opportunities: Prices are at average much lower than Lower Manhattan. However, rezoning and new developments are going to soon change this.
4. Personal Finances: Some co-ops only requiring 10% down, so if you saved up some cash and built your credit, this is the best time to start your home buying process!
Join Simonne Hill, Licensed Real Estate Agent at The Bizzarro Agency, for an important chat on what it means to be a potential first-time homebuyer, below.