Manhattan Condo Living: How to Buy a Manhattan New York Condo (Part I) as a First Time Home Buyer

Eileen Hsu (許小姐) and Morgan Evans, the new generation of Real Estate Professionals. We specialize in Manhattan Condos, including: Resales, New Construction, Pre-Construction and Foreign Nationals buying Manhattan New York Condos. Contact us at (917)837-8869 or (646)644-6929 Today.

How to Buy a Manhattan New York Condo (Part I) as a First Time Home Buyer

Learn How to Buy a Manhattan New York Condo as first time home buyers. We are Manhattan Condo Specialists, we help find condos for first time home buyers, first time investors, parents buying for children and foreigners buying in Manhattan New York. We know the Manhattan Condo market but we also understand the specific needs for each type of buyer. In Part I we will discuss the needs of the first time home buyer.

Buying a Manhattan New York Condo as a first time home buyer you should know your buying power. Have you been renting for the last three years and you are ready to buy? How much equity do you have to put down? It is time for you to speak to a mortgage lender to understand today's lending rules and know your closing cost (bank fees, condo application fees, New York city and New York State taxes and attorney fees...etc) so that you have enough money to complete the entire transaction.

How to Buy a Manhattan New York Condo (Part I) as First Time Home Buyers

Buying a Manhattan New York Condo as a first time home buyer, it is a good idea to understand your timeframe. Do you have a lease that is coming to an end or do you have a month to month lease? Buying in Manhattan New York condo, a typical transaction takes 45-90 days or more. If you are not planning on financing, the quickest closing (if all parties cooperative) can happen in 45 days from the days you and the seller sign the contract, if financing, the process can take up to 90 days or more in today's market. To know when you need to move is absolutely neccessary!

Buying a Manhattan New York condo as a first time home buyer, you should keep an open mind as to what you can afford versus the location of your preference. If the purchase price (with the appropriate down payment and with lender's approved lending amount) is $500K, you are likely to find more space in Upper East side than the West Village. You should prioritize what are some must have items to you, is it location, is it doorman, is it the size, it is the price. Buying a Manhattan New York condo is an art of give and take, keeping an open mind to different options will help you to find the suitable Manhattan Condo!

Buying a Manhattan New York Condo as first time home buyer is important to team up with a patient and knowledgeable Real Estate agent that can guide you through the process. Looking for a Manhattan Condo can be a daunting task, but it does not have to be. Having a good Real Estate agent on your side puts you in a better position than other buyers because you not only can have professional knowledge and experiences, you will also have someone look out for your interest and negotiate on your behalf.

If you are looking to purchase Manhattan New York Condo, we are the Manhattan Condo Specialists. Please contact us as we will be able to access ALL the Manhattan Condo listings in area of your preference. To receive prompt response, please email us at ehsu(@)elliman.com or Morgan.Evans(@)elliman.com. Call us at (917)837-8869.

 ____________________________________________________________________________

 

Eileen Hsu 許雅嵐 (email: EHSU(@)elliman.com)

Our team specialize in Manhattan New York Condominiums, townhouses, and condops.

We are condominium residents ourselves so we understand the Manhattan New York condominium community. We also enjoy all Manhattan neighborhoods, especially Upper West Side, Lincoln Square, Midtown East, Murray Hill, Financial District, Chelsea, Fifth Avenue, Greenwich Village, Nolita and etc just to name a few. If you or you know someone that may be interested in selling, buying or leasing their Manhattan New York condo, call us today (917)837-8869 or (646)644-6929 and we can discuss your specific Real Estate goals.

Manhattan New York Condo Specialists or Chinese Speaking Real Estate Agent

 

2 commentsEileen Hsu • August 18 2009 07:50PM

Comments

Excellent blog Eileen - you should run that periodically - who knows how to do that???

 

 

 

 

Posted by Kathy Knight, BROKER, ABR, CRS, GRI, SFR, Wilmington NC Homes and Beach Homes (Intracoastal Realty Corp) about 5 years ago

Eileen,  this is great info for a first time homebuyer in your area.  Thanks for sharing this!

Posted by Heather Fitzgerald, REALTOR Greenwood Indiana Real Estate (REALTY WORLD-Harbert Company, Inc.) about 5 years ago

This blog does not allow anonymous comments