There are many options for you if you are looking for housing in NYC. When looking for housing, buying a NYC brownstone will come to mind. These are some of the most famous housing options. If you do not know about the benefits and drawbacks of brownstones you might make a mistake and these mistakes are not cheap. This article will show you all the things you need to know in order to figure out if a brownstone is for you.
You have extra responsibility with the upkeep
When you move to a condo or a so-op you do not have too much responsibility for the upkeep. You just contact the buildings super and you are good to go which makes these great housing options for students. This is not the case when it comes to a brownstone. When buying a NYC brownstone you need to understand that all the things like leaky faucets or rodents are your responsibility. You will need to hire professionals to take care of it.
You won’t get any amenities when buying a NYC brownstone
When you buy a NYC brownstone you will not get any amenities. This means there will be no things like gym’s, doormen, concierges, etc. Some New Yorkers hire a manager who will take care of the packages. Other types of apartments sometimes have a gym. This is not the case with the brownstones. Elevators are rare in brownstones. This can make relocation a bit tough since you will have to move your things up the stairs. If this is the case hire cross country movers NYC. Movers have much more experience in this so they will not break your items while they carry them up the stairs.
Declutter your house before moving to a brownstone
If you and your family are living in a big house before moving to a brownstone it is a good idea to declutter. This is because your things might not fit your new home. You should get rid of the things you do not need before you relocate. You do not have to throw everything away since you can easily find cheap storage NYC. This way you can keep your precious items and save space in your new home.
Be sure you do a title search
Before you move to brownstone be sure you find a title company. They will do all the research about liens of the property, violations of the code, etc. This way you will be safe when buying a NYC brownstones. These buildings can be very old so you need to know if anything you need to know happened to the home you plan to buy.
Check the legal designation before buying a NYC brownstone
When buying a brownstone in NYC as a multi-family unit you need to make sure you contact the authorities about the legal designation of the home. Sometimes brownstones that look like a three-family setup are actually designated as a two-family setup. You need to know this if you want to rent out an apartment.
Be sure you do not make an offer before an inspection
Before you make an offer for a brownstone it is a good idea to ask for the help of professional brokers. Find people who have experience with brownstones. Brownstones may have different problems that are not related to modern buildings. This is why you need to find an experienced broker to do an inspection fo the home before you make an offer.
Check if a brownstone is a landmark
If you move to a brownstone that is a landmark you will have a tough time if you want to renovate it. This is because you need to contact Landmarks Preservation Commission before you renovate such a home. If this is the case renovations will take a lot of time. You will not be able to any exterior renovations before you get approved. It is a good idea to hire a broker to check if a brownstone is a landmark.
If you get more units two-family expect a bigger down payment
When you buy a more expensive property you need to expect a much bigger down payment. This is very important for people that want to buy a multi-family setup or they want to become a landlord. The more units you buy the higher the down payment gets. This is why you should not rush your decision and calculate your budget properly.
Be sure you find the right insurance company
If there are any heavy winds, fire or hail most insurance policies will not cover the restoration of the brownstone to the original state. You need to be sure you find the right insurance company that will cover these costs. These insurance contracts are more expensive than regular contracts. Even these will not cover any extensive repairs so you need to be varied.
Property taxes are a big benefit of buying an NYC brownstone
It might look like the owners of brownstones pay more for everything. But this is not the case since they pay much less for property taxes. This is a silver lining when it comes to buying NYC brownstones. This does not make the brownstones the cheapest housing options in NYC but the prices get more acceptable. These are a different tax class than condos or co-ops.
When relocating to New York you need to fo your research on the benefits and drawbacks that come with your choice of housing options. This is especially true when it comes to buying a NYC brownstone. Brownstones might look nice but you need to know what you are getting yourself into.