Home buyers’ quick guide to Williamsburg, NYC
Even though New York City is one of the most expensive cities in the world when it comes to real estate, there are still a lot of people making these big investments and buying homes in this amazing city. And you can’t really blame them. Whoever has the money to afford such a luxury as it is having an apartment of your own in New York City, we believe you should do it. You can always, later on, turn it into a rental property and earn money from it. But that is not what we are here to tell you more about. As there are plenty of homebuyers in Williamsburg, we wanted to shine some light on this NYC neighborhood. This is a very useful guide to Williamsburg real estate for those who are planning on purchasing a property here. There are plenty of reasons why choose Williamsburg over all the other neighborhoods and it is surely something we will talk more about as well. Continue reading our guide to Williamsburg if you want to find the perfect home!
Types of homes that are to be found in Williamsburg
The first thing you are probably most interested in knowing is just what are the types of homes that you can buy in Williamsburg. Condos are the most common types of homes to be found in Williamsburg. You could also purchase a house in this area. Even a multi-family house can be found in Williamsburg. This tells you that real estate here is very diverse. You have all the options here which is just why a lot of people are attracted to this neighborhood.
We believe that the best investment to make is a condo if you have the money for it. Houses are very expensive here. Condos are as well but houses come with a lot more expenses than condos. You might have to do some small renovations. If that is the case, you have to be prepared to pay a lot of money to do just that because remodeling in New York City is pricey as well.
A lot of people choose to move to another home rather than to renovate the one where they are already living in. For assistance with a local move, U. Santini Moving and Storage are there at your disposal! But these are renters we are talking about. Owning a home is much different.
Home prices in Williamsburg
Our guide to Williamsburg wouldn’t be useful at all if we do not mention the pricing of the homes. You can already guess that the housing here is expensive. There are a couple of reasons why this is so. The first one is pretty obvious – this is New York City we are talking about here! Of course, real estate is going to cost a lot of money. Apartment hunting in NYC is also a hard task which is another thing that makes the prices higher – a busy market.
The second reason why real estate in Williamsburg is expensive is because of the fact that this is a very good location to own a home in. This is a neighborhood located just across Manhattan. By simply crossing the Williamsburg Bridge you will find yourself in the center of NYC. The location surely impacts just how much the real estate property is going to cost. And this is not the case in New York City only. This is the case everywhere. The better the location the bigger the price is going to be. That is just the way it is.
Another thing with a major influence on the price is the quality of the home. And homes here are made to be of good quality. Brick buildings are the best! They are old but the materials that have been used are of amazing quality. This is why condos go over one million here regularly. The median price is around $900,000. This is a lot of money to give for a condo. But this is New York so you have to be prepared to do so.
Interior of the home has an influence as well
Another thing that influences the price of the home a lot is its interior design. And since a lot of people want to be able to bulk up the price of the home as much as that is possible, some of them really invest in making the interior look nice. Some homes are already furnished and are being sold as furnished. This actually saves you a lot of money if you have a simple taste in interior design.
But most of them are empty yet they still cost a lot of money. This leads to the conclusion that in order to purchase a home, you need a lot more money than you believe. You need the money to buy the home, pay all the taxes, get the new furniture, do some remodeling if needed, and team up with professionals to move into the home. This is a lot of money to spend all at once. This is why not everyone is able to fulfill their dream of owning an apartment in NYC and living there.
House prices in Williamsburg
We mentioned just how many condos in Williamsburg cost but we haven’t told you about the housing price in our guide to Williamsburg. Houses are much more expensive, both when purchasing and renting. They are more spacious and they sometimes come with small backyards or rooftop balconies. This is why the pricing of houses is much bigger. The average house price in Williamsburg is around $1,5 million. The difference between a condo and a house is huge. But also have in mind that living in a house is a much bigger expense than living in a condo is.