Should You Buy a Townhouse in NYC?

Nick at Hauseit (https://www.hauseit.com) considers the pros and cons of buying a NYC townhouse vs. a traditional condo or co-op apartment. Save money when buying real estate in NYC with Hauseit: https://www.hauseit.com/buyer-closing-credit/

Save money when buying, selling and renting real estate in New York and Florida with Hauseit (https://www.hauseit.com). Available in NYC, Long Island, the Hudson Valley and South Florida. Established 2014. Learn how it works: https://www.hauseit.com/how-it-works/
.
.
The first reason to consider buying a townhouse over an equivalently priced apartment is the matter of you yielding a greater amount of square footage and overall lot size relative to your financial investment. Usually, you are going to get more for your money. You’re going to get more space and more land that is your own and over the long term it means you have greater exposure to real estate as an asset class which means more potential upside.

Another reason why you should consider buying a townhouse in NYC is because you can purchase a multi-family property and generate some rental income which can reduce your carrying costs over time. If you have a two-unit townhouse, the rental income you’ll generate from one of the units will make it less expensive for you to afford what would otherwise be a rather expensive and substantial monthly payment. You’re going to have a lower stress lifestyle because your tenant is helping you make the mortgage payment.

Another reason why you should buy a townhouse in New York City is the
ability to customize. It’s a lot easier to renovate and customize a townhouse vs. a condo or co-op because you don't have to deal with a board or a managing agent.

One disadvantage of buying a townhouse in NYC is the fact that it requires more time and specialized knowledge to maintain it over time vs. a traditional apartment.

Another reason you might not want to buy a townhouse is if you require copious amounts of natural light in your home. While townhouses can be fairly bright, particularly on upper floors and on the parlor level, it’s still not going to compare to the light and sweeping views from a high floor apartment.
.
.
Save money when buying, selling and renting real estate in New York and Florida with Hauseit (https://www.hauseit.com). Available in NYC, Long Island, the Hudson Valley and South Florida. Established 2014. Learn how it works: https://www.hauseit.com/how-it-works/

Hauseit LLC, Licensed Real Estate Broker
Tel: +1 (888) 494-8258
Email: team@hauseit.com
_
#hauseit #hauseitnyc #hauseitmiami #hauseitsouthflorida #hauseitlongisland #hauseithudsonvalley #hauseitwestchester #hauseitrealestate #hauseitre