Springtime buying intel: Avoiding a toxic co-op, keeping some things from your broker, and more inside tips
First-quarter market reports released yesterday show high- and low-end sales picking up in Manhattan; CurbedNY's market-report wrap has the details.
But before you even think about dipping a toe into the traditionally robust springtime market, take a moment to brush up on the nuances of apartment-shopping NYC-style via Brick's myriad resources.
The first step is to find the right broker: Here's why you need one (and if you need help finding one, drop us a note).
You may then want to figure out whether to focus your attention on either a pre-war building or new construction, and narrow down your building search even more to specifics like kid-friendliness and smoking bans.
Next step: Open houses (which can be pretty enjoyable as long as you go prepared).
And once you've found that dream (or at least somewhat dreamy) apartment, negotiating skills are of the essence. For that, it helps to recognize signs of a desperate seller, and learn from the mistakes of others.
You can also try to avoid future problems by identifying a toxic co-op before the contracts are signed (or, on the flip side, recognizing an easy-going co-op board).
We've made a cheat sheet of these posts and others, below, to help you just about every step of the way during the buying process:
30,000 foot view on buying an apartment in NYC
- Be careful with that contract deposit (sponsored)
- Inside scoop on rent-to-own
- Signs of a desperate seller
- Top negotiating mistakes
Working with a lawyer/broker
- Landleased buildings
- When to be alarmed if there are too many apartments for sale in the building
- Kid-friendly buildings
- Non-smoking buidlings
- Signs of a toxic co-op
- Signs of a liberal co-op
Picking the right apt
- The 7 worst places to live in a building
- Learn from these buyers' regrets
- Is it okay to put a kid in a windowless bedroom?
- Prewar vs. new
- How to visit an open house
Passing the co-op board
- Real-life stories from those who've quaked before you: My Big Fat Board Interview series
- Get your dog ready
- How to appeal a turndown
Buying new construction
- Latest concessions
- 3 things you must know before buying new (sponsored)
- How not to get suckered
- How to analyze a rendering
- Top 7 construction defects
- What happens after the tax abatement expires
- New Construction Survival Kit
