Knowing What You Want
New York City offers some of the most varied housing options anywhere; as a result, you have many excellent options. Thus, it is important to focus in on some specifics in order to make your search as productive as possible. Some of the key items that you should resolve early on are as follows:
Your Budget.
For obvious reasons, this is probably the single most important factor. The price of an apartment depends on a variety of factors - size, location, building type, condition and features, among others - so it is critical that you determine your budget at the outset. As most buyers obtain a mortgage to finance the purchase, it is important that you become pre-qualified with an active New York City mortgage lender - please review our mortgage section for more information about the benefits of being pre-qualified.
Neighborhoods of Interest.
Manhattan has dozens of neighborhoods, each with its own flavor and personality. A number of factors can effect where you live: you might want to be close to work or your children's schools; maybe being close to a park is important; perhaps being close to great restaurants and cafes is key. The good news is that New York offers something for everyone - if you are not that familiar with the city, please review our neighborhood guide.
Apartment Size and Features.
Do you need a one or two bedroom apartment? A large living area? A maid's room or a home office? Are great views important? While determining which features are important, always keep in mind that there is a price for each one and therefore prioritize them based on how much you are willing to pay for each.
Building Type and Amenities.
The last major item that needs to be resolved is what type of building you want to purchase in. First, you need to decide if you prefer a co-op or a condo (please review our section about co-ops and condos for more information about the differences between the two). Next, determine the importance of features such as doorman, concierge, pre-war, high rise, pet policy, health club / pool, etc. To help you, we have profiled more than 1,800 co-ops and condos, including virtually every condominium in the city, every co-op on Park Avenue, Fifth Avenue, Central Park West, Riverside Drive, and West End Avenue and almost every building on major cross streets such as 72nd, 79th, 86th and 96th Streets. Please click here to visit our building guide.
