We’re sharing ten often-overlooked tips that can make a significant difference in your property endeavors. Whether you’re a novice or a seasoned player, these insights offer a valuable edge in understanding the dynamic nuances of the NYC market.
- Check Zoning Laws: Research the zoning laws of the area you’re interested in to avoid surprises later.
- Noise Levels: Visit the property at different times of day to gauge noise levels.
- Air Rights: Understand the concept of air rights and how they can impact your property’s potential.
- Hidden Costs: Account for hidden costs like maintenance fees, special assessments, and potential tax increases.
- Flood Zones: Check if the property is in a flood zone and assess the potential risks.
- Code Violations: Research the property’s history for any past or existing code violations.
- Transit-Oriented Development: Properties near public transit hubs tend to appreciate well.
- Unconventional Spaces: Look into unconventional spaces like former industrial lofts for unique opportunities.
- Energy Efficiency: Check for energy-efficient features, as they can save you money in the long run.
- Future Development: Investigate upcoming developments nearby that might impact the property’s value and livability.
Remember to consult with professionals to ensure you’re making well-informed decisions: Contact us.
