Manhattan, NY Real Estate - Renting vs. Owning

Demand for rentals has risen in Manhattan, since the foreclosure crisis cause more people thinking to rent instead to own in this neighborhood. Although some renters believe that renting is “duty free”, however, there are duties on paying rent. Renting offers you NO equity, NO tax benefit, and NO protection against rent increases. Consequently, you are helping to pay the other person’s mortgage. Also the rental price is not cheap in Manhattan.

Real estate is a long-term investment opportunity. In this shifting real estate market, you may be able to purchase investment real estate that will secure your financial goals for the long term.

Reasons to buy in today’s market:
1) Interest rate is low, and the average listed home price is still low in NYC.
2) A wide choice of outstanding inventories are available In Manhattan.
3) New York City properties have great value.

One thing is for sure, the market is firming at Manhattan, NY area. And dream is on the upswing. When the housing prices go back up, you can sell it for a good price. Also very important is, there was an article on the New York Time last month which the famous developers predicted that the price of the real estate in New York City could be increase significantly in 2012 since these couple of years almost no new buildings came on the Manhattan neighborhood. Therefore, once the current inventories sold out, the price would go up in NYC. So don’t miss this opportunity.

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To read more about Manhattan real estate, please click the following link:

-       What You Can Get For Your Money – the Neighborhoods of Manhattan

-      5 Tips for Purchase Real Estate in Manhattan