With the new year fast approaching, many individuals want to get their financial ventures off to a good start. In particular, individuals looking to make real estate investments, especially those just entering this field, will want to set themselves up for success in the coming year. Fortunately, New York residents can do that in a number of ways.
Many New York residents know that investing in various types of real estate can turn into a significant source of income. However, when real estate investing comes to mind, it is common for people to think about having to purchase property, find individuals to rent or lease, or have to take many other steps to make their investments worthwhile. This approach is known as active investing, but passive investing may be a viable option for interested parties.
When looking to buy a house, many New York residents often want to find the perfect place. As they first start out, they may find themselves being immensely picky over certain details, but if they continue on in this manner, they may find that their dreams of owning a home are taking longer to achieve than desired. Therefore, they may want to find ways to look on the bright side of certain issues and hopefully allow their real estate transactions to move forward more quickly.
Many people find real estate exciting, but it is also complicated. It can become even more complex if individuals live outside the country. Fortunately, there is help available for those looking to complete real estate transactions in New York.
Buying a new home can be an exciting time in a New York resident's life. Of course, there are many aspects that go into home buying, like viewing homes, getting finances in order and a lot of paperwork. Some individuals may even watch a bit too much television and believe that real estate transactions will be a breeze.
In prior posts we have highlighted what the increase in demand for senior living facilities may look like in the future, as the number of senior citizens is poised to grow at least 60 million within the next 20 years. With that, buildings for senior citizens will have to include amenities such as “smart” systems that are energy efficient and can monitor a resident’s health readings. They may also require cybersecurity systems and handicap access, to name a few.
It has been some time since we wrote a post on real estate in New York City. Just as the economy appears to be continuing on a upward trend, so has the real estate market in our region. In fact, residential home sales enjoyed a record year in 2017.
As we near the end of 2017, the old adage “the more things change, the more they stay the same” has some added meaning. Towards the end of 2016, a slew of luxury and high-end residences remained unoccupied as many potential buyers and renters presumably were ambivalent about making changes because of the uncertainty following the impending change of administrations. With that, landlords began offering a number of concessions in the hopes of attracting renters.
Whether you are in the business of “flipping” residential properties or taking part in a major commercial redevelopment effort, there are a number of considerations involved in making sound real estate purchases. Indeed, the property’s current condition, environmental assessments and cost-benefit analyses are principal issues, but other legal pitfalls await the unwary.
At first glance, baby boomers and millenials couldn’t be any different. After all, millenials revel in communicating by text message and email, while baby boomers prefer face-to-face conversations and still use telephones to call someone. Baby boomers tend to work for fewer employers over the course of their professional lives, while millenials feel comfortable with the “gig” economy.