Buying a condo can be a daunting task, especially in a large borough like Manhattan. With so much to consider, it’s no wonder some new homeowners may find themselves in need of some guidance on their first journey into the process. Luckily for you, we’re here to help! Here in this guide, we’ve assembled a short overview of the process you’ll take in finding and securing your dream Manhattan condo, from finding the perfect unit to making it your own.
Step One: Plan It
First, you need to know your budget. This will allow you to quickly rule out units you ultimately can’t afford. Once your budget is finalized, it’s time to figure out what areas you’d like to search. As you look, keep in mind how close or far you want to be from public transit, how long it’ll take you to get to work, and how close you’ll be to important locations like banks and grocery stores. You’ll also want to keep an ear out for the noise level of the neighborhood and take note of how clean and safe the area feels.
Once have a price range and area, make a list of potential buildings and units. For this, you may consider hiring a realtor who can quickly and professionally aggregate a list of possible units and help you toward the next step.
Step Two: Scout It
Now it’s time to go in! Many buildings will feature an open house on their available units, but if not you can contact the seller for a personal tour. Bring something along to write with, because you’ll be taking notes and asking questions. You’ll want to ask about things like noise level during sleep hours, maintenance, amenities, and extra fees. It’s also a good idea to ask about the building’s policies and homeowner’s association, and to find out exactly which services come with the price of the unit and what you’ll be expected to pay extra for before you make your selection.
Step Three: Grab It!
You’ve found your dream Manhattan condo, and it’s for sale within your price range, so now it’s time to buy it! If the unit is for sale, you should be able to simply pay the given price, but in the case of an auction you’ll need to make a respectable offer based on the seller’s asking price, be careful: offer too low and you’ll be ignored, but offer too high and you could end up overpaying. Make the right bid, and you’ll find yourself moving in to your dream condo before you know it!
