Should You Buy Real Estate in NYC?

Many New Yorkers are perfectly happy being lifetime renters, but should you consider buying real estate in NYC instead? Learn more in this video.

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I’m Nick at Hauseit (https://hauseit.com). Give us a shout if you're looking to buy sell or rent in New York City, Long Island, Westchester, the Hudson Valley or here in South Florida. We can save you money when buying, selling or renting. So, check out our website https://hauseit.com to learn more or send us an email to team@hauseit.com.

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So, should you buy real estate in NYC? Many New Yorkers are accustomed to renting and in some cases, people actually rent apartments for decades here in New York without even thinking of buying. But eventually your typical resident of New York starts to realize you know, “hey, is it a good idea for me to be basically throwing away my money on rent every year?” and particularly in the post-COVID environment where you have massive rent increases to recoup the rent declines caused by COVID. You know, you have this uncertainty every year of your landlord potentially raising your rent and having to have really awkward conversations and negotiations which might not always work out in which case do you really want to have to worry about moving over and over again. So, you know, one of the main benefits of buying real estate in New York City is the fact that it will give you that long-term stability and certainty with respect to your personal living situation.

Other advantages of buying include of course, appreciation potential in terms of pricing inflation protection given that real estate is a real asset and the fact that you can potentially add value over time and enhance your equity position by way of doing renovations and other sorts of updates to your property.

Now, let's go into more detail about the idea of inflation protection. When you own a piece of real estate regardless of what's happening with fiat currencies with the reserve currency, what's going on with the dollar, nothing really matters because at the end of the day somebody needs to live in a place, in a home, and they're going to pay you whatever the prevalent market rate is, in whatever currency is the prevalent currency at the time for the privilege of having a house.

So, if you know you are looking to buy, at the end of the day, it will protect you against you know, large increases in rent and inflationary pressures over the medium and long term buying real estate. Also, provides you with tremendous upside, in terms of price appreciation and the main reason why it's very enticing is not necessarily because you're going to get sort of a higher annualized return than you would get with stocks. That's a bit of a subjective topic and it's unclear. Generally speaking you know whether stocks or real estate provide, you know, higher appreciation but what is clear is the fact that when you buy real estate, you are able to very uniquely obtain ultra-long-term financing i.e a 30-year mortgage over the past few years.

In general, when it comes to risk assets if you look to buy stocks, you know, good luck leveraging your stock portfolio, crypto portfolio because all of that financing is marked to market, meaning you're subject to price fluctuations associated margin calls and at the end of the day the financing can basically just unwind at any time.

In terms of a loan and secure long-term, non-mark to market low interest rate financing, gives you the upside on that annualized rate of increase for real estate over the entire spectrum of your purchase price as opposed to just putting your contract deposit equivalent or down payment equivalent in the stock market and you know just hanging out.

As a buyer of a home, the other benefit of real estate and going ahead and buying something instead of renting is that you can ultimately over time customize it to your parameters and you know if you make the right investments, the right types of renovations, at the right time, you can really add value to your property and ultimately increase your equity position in that property over the medium and long term.
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Save money when buying, selling and renting real estate in New York and Florida with Hauseit (https://hauseit.com). Available in NYC, Long Island, the Hudson Valley and South Florida. Est 2014.

Hauseit Group LLC, Licensed Real Estate Corporation
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