What is your motivation to buy?
Being clear about your reasons for buying helps you select the very best home for you. Common reasons for buying are the occurrence of life events (baby on the way, children moved out of the house, divorce, marriage, death, engagement, etc.), making an investment, beginning a new job, changing jobs, tired of paying rent, wanting to be closer to family and friends, wanting to be further away from family and friends, vacation home, etc. There are many reasons to buy New York real estate – there are no right or wrong answers. Knowing your motivation is the foundation for your home-buying journey.
Questions to ask yourself include:
- Why do I want to buy a New York City home?
- Is this a first home, second home, or a vacation home?
- Is this an investment in which you will live in for one year, five years, or 10 years?
- Is it an investment in which you will be a landlord and you will collect rent from a tenant?
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