Our Sales Guide is provided to help our New York City clients who wish to buy quality Manhattan apartments within their budget. New York is a widely diverse city with ranging properties, choosing the right neighborhood and property can be quite a chore. We at A Fine Company have tried to use our seasoned expertise to provide guidelines and information for potential NYC property buyers

The first thing we suggest to our buyers is to determine a budget. Obviously the location and size of an apartment plays a crucial role in what it will cost. Some other factors to consider are amenities, building type, school locations and nearness to public transportation. We suggest that buyers first review their financing options to determine what amount of money they have to put toward a deposit and then to see what they can afford as a monthly mortgage fee. Many people may even decide at this point to obtain a pre-qualified mortgage status so that they know exactly what budget they will be working with.

The next thing to do is to determine what type of property you'd like. Would you like an apartment, condominium or Coop?

With an apartment real estate purchase there is no approval process, other than the standard financial checks, and buyers are entitled to have complete control over the renovations they wish to make. Any maintenance costs become the sole responsibility of the owner and the owner has complete control over maintenance. Transferring deeds or reselling the apartment does not require any approval. Sizes of property can vary drastically depending on budget.

Condominium owners buy an apartment unit as well owning percentages of common building areas. The condominium is considered real property which gives the owner more rights to do what he or she likes with the property than they would have if they purchase a COOP, but owners are also subject to property taxes that either become a part of a monthly mortgage payment or which are paid as a separate expense. A general monthly maintenance fee is also paid to the condominium association.

Buying a Coop can be tricky, but we have team of qualified agents that can help. When you buy a cooperative apartment you are literally purchasing shares in a cooperation, the shares translate into the apartment unit which you live in. Your Coop fee usually includes your mortgage fee as well as building maintenance costs. This monthly maintenance fee can be high but mortgage payments and maintenance fees can usually result in higher tax deductibles.

We understand that the New York Real Estate market can be very face-paced and competitive, but we have savvy REal Estate professionals that can help. Please review our Sales Guide and contact us so that we can match you with a qualified agent who can facilitate the process and help you find a quality home that fits your needs and budget.