We are Manhattan Condo Specialists, we work with both buyers and sellers within our market place. Recently we have received many interests from out of town parents wanting to invest in Manhattan Real Estate mainly because their children are in Manhattan working or going to school here. We thought it may be helpful for buyers to read about our in Buying in Manhattan New York Condo Must Read Series.
In our Buying Manhattan New York Condo Must Read series in Part I as parents buying for children, Part II as first time investors, Part III as first time home buyer and Part IV as foreign nationals buying in Manhattan New York Condos. We know the Manhattan Condo market and the specific needs of each type of buyers.
Buying Manhattan New York Condo as parents buying for children, you should understand your budget and timeframe to start. Is this a 5 year plan while your child goes to school in New York? We work with many parents who are buying for their son/daughter that goes to New York University, Parsons school of design, School of Visual Arts, Columbia University, Jillards music school and other well known schools here in Manhattan New York. Is this for your son or daughter that is currently working in Manhattan? Do they have a job stability or financial freedom? Are they currently renting and lease may be expiring soon or month to month arrangement? It is important for us to know the reason and timeframe so we can narrow down the search for you.
Buying Manhattan New York Condo as parents buying for children, you should plan ahead, and speak with all the parties involved (the right mortgage consultant/banker, accountant and a knowledgeable Manhattan Real Estate attorney.)
- Mortgage consultant: If you are planning to buy the condo all cash, that is always desirable when presenting offers to condo sellers. Keep in mind that you should have enough equity in case there is an increase in monthly carrying charge for this condo or other misc mishappens. If you are planning on financing this investment, be sure to speak to a local Manhattan lender that is familiarize with the local market, the lending rules, and the mortgage products that may be suitable for you and your son/daughter.
- Accountant: If you are planning to co-purchase the condo with your child, be sure to discuss the possible tax complication you may have with your accountant. Speak to your accountant prior to your purchase can be very helpful.
- Manhattan Real Estate Attorney: In addition, speak to a local Real Estate attorney will be helpful as well since the local Manhattan Real Estate can also advise you what is the best way to structure the purchase and think about who/how should take the title of the deed.
Buying Manhattan New York Condo as parents buying for children, the experienced Manhattan Condo specialists that can guide you through this process and navigate through the Manhattan Real Estate maze. Whether you are a first time buyer, or an investor that have bought and sold multiple properties in other parts of United States or country, we can help. Understanding the local market with the market expert can maximize your investment and avoid any possible problems down the rule. Many of our past clients are first time investors, they have bought many Manhattan condos under our guidance and continue to do so because we have developed a Real Estate plan for them. If this is something you are interested in, contact us now at (917)837-8869.
- Manhattan New York Condo Listings
- Dos and Don't before you buy Manhattan Real Estate!
- Manhattan New York Different types of Buildings
- We sell 'AS IS' condition: No Inspection in Manhattan New York Real Estate
- Buying Manhattan New York Condo Must Read Part I - Parents Buying for Children (2)
- Buying Manhattan New York Condo Must Read Part IV - FAQ
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.
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