I’ve always been big into real estate. I enjoy researching what details a certain amount of money will buy and determining which features are most important to me so I can get a sense of how much I’ll need to be happy (give or take) with my future home.
New York City has thrown me for a loop. Where $300,000 in Little Rock, AR, for example, could buy you a 5,000-square-foot tri-level hilltop castle, in NYC, that amount could only offer a run-of-the-mill studio with hardwood floors and laundry in the basement (if you’re lucky).
I have decided that a hard comparison is necessary. This could be the column that drives me out of the city for good, but I’m feeling dangerous. I genuinely want to compare needs and wants in NYC to the rest of the real estate world.
Here is my list of Normal Real Estate Wants/Needs Vs. NYC Wants/Needs:
1. Master suite vs Master padlock
I would venture to say that one of the biggest concerns in the city is security, so it’s understandable why a video buzzer, a doorman, or five or so padlocks take precedence over a room big enough for a California King.