How NYC Buyers Can Narrow Down Their Apartment Search

As a homebuyer in New York City, apartment searching can feel overwhelming at times. With so many neighborhoods, buildings and apartment styles to choose from, how can you possibly whittle it all down? 

For that reason, the team at Prevu Real Estate compiled a list of six quick tips to help buyers easily narrow down their NYC apartment search.

Start with your budget

When buying a NYC apartment, it's important to set a budget and stick to it. This means taking a close look at your income and expenses to determine what you can realistically afford. 

Keep in mind that buying an apartment is a major investment, so you'll need to be prepared to make a financial commitment. There are also numerous transaction costs associated with buying an apartment, such as closing costs, legal fees, and potential repairs.

Be sure to factor these costs into your budget before making an offer on an apartment. By being mindful of your budget, you can avoid overspending and focus your search on apartments that you can comfortably afford.

Think about your commute

If you’ve been living in the city for a while, you likely already have a good sense of the most convenient transportation methods for your daily commute. However, when it comes time to buy an apartment, the neighborhoods you might be focused on may differ from where you currently live or rent in.

Not only should you consider neighborhoods convenient to the subways or buses that get you to where you need to go, but you should also factor in the amount of time you are willing to commute each day.

Separately, if you have the flexibility of working fully remote, you may be able to look at neighborhoods farther out that over housing options with more space.

Research neighborhoods

New York City is made up of dozens of unique neighborhoods, each with its own character and atmosphere. If you're thinking of buying an apartment in your favorite borough of the city, it's important to do your research and choose a neighborhood that's right for you.

First, consider what you want from your lifestyle. Do you crave the hustle and bustle of Manhattan, or are you looking for a more laid-back vibe in Brooklyn? Are you interested in living in a brand new condo or pre-war co-op, or do you prefer the feel of a traditional brownstone? 

Whatever your preference, there's a neighborhood in NYC that will fit the bill. Spend time in a few of your favorites to narrow down the top contenders before you start your search in earnest.

Create a list of your must-haves

When considering what features to look for in a NYC apartment, it is important to consider both your needs and your wants. 

For example, if you entertain often, an open plan kitchen with a wine fridge may be high on your list of priorities. Or, if you have out-of-town guests frequently, an extra bedroom or guest suite can be a lifesaver. 

Other amenities such as a doorman, concierge service, or gym access may also be important factors for some to consider. Ultimately, the right apartment is the one that has the features that are most important to you. By taking the time to identify your must-haves, you can narrow your search and find the perfect place to call home.

Tour apartments for sale

Once you’ve honed in on your budget, favorite neighborhoods, and must-haves, the next step is to start touring properties via open houses or private showings. This will give you a sense of different layouts and what's available in your price range. It's also a good way to understand the market and get a feel for prices and average price per square foot. 

When you're ready to visit some apartments, make sure to bring a list of questions and take notes on your phone. Some things you may want to ask about include the size of the unit, the monthly maintenance fee, if there are any pending assessments, and any upgrades that have been made since the current owner bought the unit. 

Also, be sure to ask about condo or co-op rules and what amenities are included. By spending time touring apartments, you'll realize quickly what you want.

Ask a local buyer’s agent for help

A real estate agent is more than just a person who helps you buy or sell an apartment. A good real estate agent is your advocate, providing local expertise and guidance through what can be a complex and stressful process. 

The assistance of a local agent is especially useful when buying an apartment in NYC. In addition to helping you find properties that fit your needs and budget, an experienced NYC buyer’s agent will provide expert advice on everything from negotiating the purchase price to putting together a winning board package. 

Interested in buying an apartment in NYC? Browse listings in your favorite neighborhoods and see how much you can save with Prevu’s commission rebate.