NEW YORK is regarded as the priciest spot to have a home in America. However, this understanding hails from the existence of Manhattan, and especially its high-demand areas like the very best Western world Part. The other NY boroughs, such as Queens and Staten Island, while still much more expensive than average, feature significantly lower living costs than you'll get in Manhattan.

Statistics:

• An individual estimated regular costs are 1,312.64$ without lease.
• Cost of living index in NY is 20.83% greater than in LA.
• Rent in NY is, typically, 40.09% greater than in LA.
• Mortgage INTEREST in Percentages (%), Annual, for twenty years Fixed-Rate 3.82 3.00-4.50

It's not key that living in NEW YORK is expensive. Prior to the average NYC resident's salary even reaches the lender, they're spending some of the best taxes in the united states, with high taxes on both condition and local level. Beyond that, potential residents face a few of minimal affordable casing in the united states. That's especially true for NYC residents who wish to maintain the heart of everything and live in Manhattan. 

The high cost of residing in NYC starts using its crazy housing marketplace. Regarding to a March 2019 survey from Apartment List, the median lease for a two bedroom apartment is $2,499 in New York. Studio and one bedroom apartments come in at $1,889 and $2,098 per month, respectively. 

The classic issue of “ buy vs. lease ” always arises no matter where you're living. Regarding NEW YORK, a single-family home in the brand new York metro area has a median sales price of $403,900, predicated on 2018 data from the Country wide Association of Real estate agents. While this may sound favorable, understand that the metro area contains not only NEW YORK proper, but also the close by areas that surround it. Buying in the town itself can be much pricier, particularly if you want to live close to the city middle; it's not uncommon to invest more than $1 million for a one-bedroom apartment in Manhattan. (If you wish to understand how much house you are able, drop by SmartAsset's home affordability calculator One major benefit of the New York City housing market is its strong gratitude rates. Relating to NeighborhoodScout data from 2000 to 2018, homes in New York have raised in value by an average of 4.52% annually.

What Is the True Cost of Living in New York City? -

Statistics:

• According to a March 2019 report from Apartment List, the median rent for a two bedroom apartment is $2,499 in New York city.
• According to NeighborhoodScout data from 2000 to 2018, homes in New York have raised in value by an average of 4.52% annually.
• According to Numbeo.com data from May 2019, the average basic utilities package for a 915 square-foot place in New York costs $145.55.
• According to a 2017 study by Parkopedia, New York has the most expensive long-term parking in the world.
   

For car owners in New York, parking will be a significant expense. According to a 2017 study by Parkopedia, New York has the most expensive long-term parking in the world. The report says that in New York City, you'll pay $606.37 a month to park. Parking in Washington, D.C. ($260.08) costs less than half that per month. As you get into the further reaches of Queens and Brooklyn, you will likely encounter slightly cheaper prices. Regardless of what borough you live in, though, expect to spend a lot to park your car.

Average Salary 

NEW YORK is normally considered the priciest place to reside in America. The Numbeo cost of living index uses NY City's prices as the benchmark for his or her cost of living calculations, scoring it as 100 out of 100 and expressing other towns' prices as a share in accordance with what you will pay in NYC. If you're considering moving to NY from some other city, this helps it be easy to estimation how much (more) it will cost. 

Conclusion

Compare the expense of Residing in New York TOGETHER WITH YOUR Current City Now you understand the price of living in NY but is it possible to afford it? 

If you wish to be certain, try our free Cost of Living Calculator to regulate how a lot more or less costly it might be so that you can live in the brand new York State city that's getting in touch with your name. 

If NY has an increased cost of living than you can currently afford, not absolutely all hope is lost. 

The info that drives the majority of these numbers and our Cost of Living Calculator originates from the expense of Living Index published by the Council for Community and Economic Research (C2ER).

Since the price of residing in any area is continually changing, you can check our calculator to get the latest data.

Why “near me” is critically important for multi-location businesses

As searchers become increasingly mobile, hyper-local queries are increasing — and multi-location businesses stand to advantage the most.

Let's use pizza delivery, for example.

A starving customer conducts a seek out “[city] + pizza delivery,” discovers a nationwide pizza string and phone calls the top-ranked store. But also for an over-all “[city] + pizza delivery” search, it is also quite possible that Google will surface the results it thinks are most highly relevant to the town name, without respect to the searcher's exact location. If that same customer were to find “pizza delivery near me,” they could have found a far more relevant (nearer) store near the top of the serp's.

Why “near me” is critically important for multi-location businesses

As searchers become increasingly mobile, hyper-local searches are on the rise. Columnist Jason Decker feels that multi-location businesses stand to benefit the most.

One of the hottest topics in local search today is the skyrocketing popularity of “near me” and “nearby” searches. Last May, Google noted that “near me” searches doubled in 2015 . This is a trend that is not going away.

Local search can be time-consuming and complicated for a single location; local search marketing for franchises can be downright intimidating! What's difficult for one local business is even more difficult for a company with multiple locations.

All local businesses have a new opportunity with “near me” searches, but the biggest winner may be multi-location business, especially large companies with many locations in the same city. Here's why…

How to optimize for “near me” searches

Whenever a “close to me” search is conducted, Google's algorithm escalates the need for distance from the searcher's location. It really is much debated if marketers can affect “near me” serp's, but here are some solid local search engine marketing strategies that may help.

Ensure that the business enterprise name, address and contact number (NAP) are generally and prominently shown on your website within an easy-to-index format.

Preferably, you ought to have a separate web page for every location, however the addresses of all of your locations should at least show up some place on your site.

Google My Business should be properly create and optimized. Each of your locations must have its Google My Business list. Ensure that the business name, address and phone number of each location match what you have on your website.

Get as many positive reviews as you can for each location, especially on Google. Reviews on other sites can help, too, but Google reviews are likely to have the highest impact on local map pack ratings.

The Most Important Local Business Searches to Target (Near Me)

Looking to get the edge over your local competition? If local is your market, then a local SEO strategy is what you need to get on ASAP!

A general SEO strategy is important for improving your website's visibility on a national or global level, but a local SEO strategy allows you to capture your local search territory to bring in local customers in your geographic area.

Local SEO helps a local business promote their products and services to local customers by gathering information about what people are searching for in Google locally and that means you can target them specifically. Focusing on specific geographic keywords people are searching for, especially the “near me” searches is where a local SEO strategy shows it's strength. 

From all Local Searches about 80% Convert

People love local! Local converts better than other things we have seen and we love to help locally owned and managed businesses crush their local competition! The statistics speak for themselves: 80% of all local searches convert. With a success rate like that, you need to get your local SEO strategy fine-tuned and that means you can capture the local market that is looking for you but cannot find you. 

Steps to Rank for Google "Near Me" Searches

Optimizing your site for local search is important to become acquired online by an area audience. Ranking for "near me" searches will become more attainable after following the steps explained below.

An increasingly important feature for local search is “near me” searches, such as “lawyer's office near me” or “restaurant near me.” In fact, their popularity doubled in 2015 , and we expect them to occur even more frequently.

If your business plans to optimize for local search, ranking for near me search terms is essential.

While no one knows the exact algorithm, emerging research identifies some key factors that influence over me search results. This article walks you through nine steps that will improve local search results for your business.

Update Google Local Business Page Listing

Showing up as a Google Local Business is one way to improve your visibility in Google search.

If a user searches, “coffee shop near me” in the NY area, a summary of nearby locations can look near the top of Google.

If you go through the first option, “TW Coffee,” a pop-out container which includes information about business hours, telephone numbers, and directions appears.

As the TW Espresso example shows, a Google local business list provides searcher more information about your business.

Starting out and/or upgrading your Google Local Business list is simple.

First, go to https://www.google.com/business and click “BEGIN RIGHT NOW.”

The button will need you to Google Maps and ask questions about your business, including its name, country, address, city, state, zip code, business phone number, and category.

Make sure you take the time to upload unique information.

Use this checklist to avoid mistakes:

1. Custom profile image used instead of stock photos
2. Display name matches listed name
3. URL does not get redirected
4. Characters are not all capitalized
5. Legal terms, like LLC and Inc. are omitted
6. P.O. box and mailbox identification numbers are not included
7. No 1-800 figures are listed
8. Local number featured instead of toll-free number
9. Business is verified with Google
10. Business has minimum of five Google reviews

To understand Directory submission, understanding the base is necessary. Let's take Google as an example. Initially when Google was not there, people used to go on web directories to search for any information, as web directories were the source for useful resources. 

What is Directory submission?

Directory submission is defined as the practice of submitting your website URL and its details on the web in a directory under a particular category. This is a way which helps you to improve your link building Directory Submission is an off page factor which helps to optimize your web page. In these web directories, your own website is posted to some other website. There will vary categories under which you can submit your website. For instance, if you have a niche site related to Health, then you will submit your site under Health category which can only help you to get backlinks from them. It very interestingly build links in a single way. These web directories are somewhat like the telephone directories that includes a set of websites in each category. 

You can find three types of Directory Submissions: 

Paid or Featured Web Listing: With this, who owns Directories site will charge for Submission as well as your link will be approved in a few moment or within a day. This can help you in getting backlinks out of this type of distribution. Some sites offer this bundle for annual or life time.

Free or Regular Web List: It really is free for Index Submission, nobody costs for free or regular submission but there is absolutely no promise of web sites getting approved by the Administrator. Also, this calls for time. With this, a reciprocal link must be submitted to your website when you activate Index Link, only then your Index administrator will approve your link. 

Need for Index submissions in SEO? 

Directory submission being truly a basic facet of Off web page optimization , helps in doing search engine optimization. Directory submissions also attracts traffic on your website and getting high quality no follow backlinks. Directory submissions helps in increasing your page rank by building authority backlinks. For the people who have just started doing blogging, it is a must for them. This way you will see growth in the rankings of your website and blog by submitting your URL to web directories.

What are web directory sites?

Directory submission sites are, in simpler terms, online Yellow Pages. Back then, people rely on phone books to search for contact details of a person registered in these pages. The same thing applies to websites that signed up to online directories. In fact, before the advent of crawler-based listings such as Google, sites like Yahoo! derived their search queries from their directory. To increase their online visibility, people need to register their sites on Yahoo! Directory so they can be found on Yahoo! whenever somebody searches for them using its search function or when they browse its directory.

Directory sites contain a large number of websites organized according to their niches. There are a lot of categories and sub-categories its site visitors can choose from, which makes it easier to allow them to research for the website that they're looking for. 

Is Directory website Submission Best for SEO in 2020?

“Is it possible to still use directory website submissions for SEO?” This question vegetation up frequently on forums and it's really unsurprising as a long time ago web directories were the staple of SEO, indeed they been around before se's do and were the primary way of navigating the net. A simple duplicate/paste of the same explanation to a huge selection of web directories and you also were sorted. 

Fast forwards to 2020 and SEO has become a lot more complicated, however directory site submissions if done correctly can still play an important role as part of a larger SEO campaign. Personally, I find this change refreshing. Just as websites were once jammed with keywords, and user-experience was immaterial to your SEO, now having great content and a positive user-experience is vital. So to with directories, some have survived the test of time and are still important for SEO today, others have lost all merit and often vanished from the web entirely. Having links from directories is also no longer enough to rank well with Google, and creative, engaging guest posts on relevant sites that backlink to your website will go further than submitting to directories. As an SEO agency, this is great news, as it means the job now involves writing engaging content, creating infographics, and striving for excellence, which is far more satisfying than the old black hat methods that used to work, but no longer do.

How do you find the best directories?

The best way to guarantee that a directory submission will be beneficial is to ask yourself, “If SEO didn't exist, would I still submit to the directory?” If the answer is, “Yes,” then it's much more likely that the directory website will also assist with SEO. Take note, the questions isn't, “If SE'S didn't can be found.” Some means of locating the best web directories are the following:

Look for a relevant directory website in your specific niche market or region

If you repair vehicles in Washington, own a furniture shop in Paris, or have a video games platform useful by anyone in the world, then your best directory website for you'll be different. There's also international web directories, some wedding caterers for multiple languages, most wedding caterers for an individual vocabulary. You're therefore best of starting by looking in Google for either:

A relevant keyword OR A broader category OR A geographic region And looking through the first few pages of the results to see if any directories or lists appear. Start with those and to find more directories, repeat the process but add “directory site” or “submit” or “submission” to your search. If a niche directory appears for relevant keywords , then it's likely to drive traffic to your site, which will help increase sales and is also far more likely to help your SEO, regardless of the directory's statistics (more on this later). At the end of the day, if Google considers a directory site important enough to rank in the first few pages for a relevant keyword, then it's worth you signing up for the directory website, especially if it's free or cheap.

The DOs and DON'Ts of Submitting to SEO Friendly Directories

Do Find Local Specific niche market Directories : If you're an area business find local directories that are specific to your niche, there will most likely only be considered a few (at best) in where you live that fulfill your niche.

Don't Submit to a Mass Amount of Web directories : If you're a little business do not submit to 1000 directories for 9.99. This has proven through our screening to dramatically hurt a websites rating for main keywords by flooding a websites link graph with mass amounts of low quality/spam links.

Don't Use a Website Submission Service Don't participate in a listing submission services (aka. mass website directory distribution) that do mass website directory submissions (the 10,000 web directories of $99.99). These services send to garbage web directories that are believed spam. They could say they actually semi-automatic website directory submission where they'll send your site to 5 web directories every week, that's still bad because as you begin to build increasingly more of these low quality links, not only are you considering wasting money, but you'll be creating a low quality hyperlink graph will little to no trust value.

Do Submit to Trusted Web directories : Submit your website to the SEO friendly online web directories listed below.

Did you think New York is only famous for romantic destinations? 

Were you of the view that New York is not a place for history or art lovers? 

Well, you need to think twice! May be you have not heard about the plethora of museums that are present in New York. Let’s tell you about one of the most famous and rich in art museums of New York – The Metropolitan Museum of Art. 

What do you get to see in the Metropolitan Museum of Art?

The Metropolitan Museum of Art is a treasure place for art lovers. It houses exceptional art deco, unusually found masks, ancient musical instruments, awe-inspiring architecture and attention-grabbing paintings. The eye-catching works of art are a fortune to care, click, and capture. Owning any of the art pieces will be a pleasure for art lovers. 

Address: 1000 5th Avenue, New York, United States.

You will be able to catch a glance of how woodcuts are made – the art of printmaking is a relief process which uses knifes and tools to carve out special designs into the surface of wooden blocks. 

At the MET store you get apparels, publications and gift items that are unique and one in a million. The MET publications give you a chance to go through five decades of publications which are available for reading, downloading, and searching for absolutely free. 

Who keeps the museum and its belonging in position?

There are famed scientists and curatorial staff who come together to read, study, research, and exhibit the rare objects in the MET collection. The MET collection is 5000 years of human creativity – it is a treat to go through the art works. Anyone and everyone will get fascinated after ging through these works of art. These art pieces, be it pictures, wooden items, architectural designs, or simply gift products are rare to be found anywhere else. You can only see to believe the genius it holds. 

How different or unique or special is The Metropolitan Museum of Art? 

The MET is special and different than other museums as it has a wide range of items on display. You can never get board or run out of options for your eyes to get shocked. 

Some of the most famous works of art at the MET are:

1. Textiles in the House of Worth
2. Coco Chanel: Romanticism
3. The Harold Koda Gift
4. Paul Poiret and Raoul Dufy
5. Charles Frederick Worth
6. A Maid Asleep

You can go through all the above pieces of art online in the official website. 

The MET contains art from all walks of life. Be it different portraits of a single woman depicting varied moods or the bird just out of the cage or a relentless man grabbing hold of a prey. 

The museum is a must visit place not only for art lovers but for everyone. A tour of the museum opens minds and gives a different prospect of life. If you are in New York or about to visit, this is a must visit place. 

New York is an amazing destination. Eight out of ten travel enthusiasts have New York City in their bucket list of travel. And, why should not they? After all New York has a myriad of places to visit and have a gala time. Be it history, leisure, literary or simply scenic beauty – New York has something to offer to every traveler. One of the most frequently thronged tourist attractions in New York is the Brooklyn Bridge that majestically appears over the city’s East River. The bridge interconnects Brooklyn and Manhattan. 

From 1883, the granite of the Brooklyn Bridge’s towers and steel cables have been providing scenic and most importantly safe passage to millions of travelers like daily commuters, tourists, bicycles, carts, and trains. 

What did it take to get the Brooklyn Bridge constructed?

It took 14 years and $ 15 million to get the majestic bridge ready. It is said that during the construction process, almost 24 people lost their lives, which included the original designer as well. However, when we see the 125 years old bridge today, all the money and time that has been utilized for it is worth it.  

Who Constructed the Brooklyn Bridge?

Born in 1806 in Germany, John Augustus Roebling is credited to be the creator of the Brooklyn Bridge. The man studied industrial engineering in Berlin and honed his craft to become an inspiration in the domain of designing of steel suspension bridges. He was one of the first engineers to promote the use of wire cables and later successfully established a wire-cable factory. 

Interesting Fact about the Great Brooklyn Bridge – P.T.Barnum got 21 elephants walking on the Brooklyn Bridge to establish the fact that the bridge is completely stable and fit to trespass! 

Unveiling of the Brooklyn Bridge

It was on May 24, 1883, that thousands of people from Brooklyn and Manhattan congregated to be a part of the dedication ceremony. The ceremony was a grand affair that was presided over by the then president Chester A. Arthur and New York Governor Grover Cleveland. 

Who was the first person to take a ride of the complete Brooklyn Bridge?

Emily Roebling was offered the chance to be the first person to travel the entire bridge. Emily had a rooster, symbolizing victory on her lap while going through the bridge. 

Believe it or not, within the next 24 hours, approximately 150,000 commuters took a troll around the Brooklyn Bridge.

Brooklyn Bridge – Eight Wonder of the World! 

Due to its exceptional length and incredible connectivity between Manhattan and Brooklyn, the Bridge was touted to be the ‘Eight Wonder of the World’. 

Are you too one of those who want to visit New York?

If yes, Brooklyn Bridge is one location that you should not miss. The reason being there are a lot of stories that you can witness over there. The view of the city from the bridge is simply amazing. You can stand their along and see the city moving. You will love that moment for sure.

Best Way to See The Statue of Liberty

Touted to be one of the best cities in the world, New York is a happening city. New York is the epicenter of a whirlwind of activity, having popular destinations to visit and enjoy time. There are a number of places you can plan to visit in New York. To name some of the most visited places in New York – Central Park, Brooklyn Bridge, and Empire State Building. However, in this article we will talk about a world renowned and internationally revered tourist attraction called as The Statue of Liberty. Exited? Read on to know more about the Statue of Liberty, its history, and how to reach.

The statue of Liberty was built in 1886 and was a token of appreciation or gift presented by the France’s to America. The statue stands erect at a massive height of 152 feet (base to torch) and weighs almost 450,000 pounds.

History of Statue of Liberty

Alexandre-Gustava Eiffel is the professional credited for designing the steel framework of The Statue of Liberty. The statue symbolizes freedom and is considered to be a great American icon too. It showcases democracy, and the lasting friendship between America and France. 

The American Civil War drew to a clase around 1865. It is then a French historian, Edouard De Laboulaye  brought a proposal of creating a structure (Statue) in the success of the United States. The sculpture was permitted by the authorities to be erected during the centennial of the Declaration of Independence in 1876. It was a joint effort between France and America. The statue to be built by the France people and the American’s would set up the pedestal for the statue to stand upon. 

The Statue of Liberty and Ellis Island

The US Government issues a federal immigration station on the Ellis Island in 1892. This facilitated travelling of nearly 12 million immigrants, between 1892 and 1954. The Statue of Liberty offered a grand welcome to the travelers who were entering America, passing the Ellis Island. Many of these travelers were immigrants wanted to make America their home seeking a new life. 

People travel to Batterly Park, the southern tip of Manhattan, to get a good view of the Statue of Liberty. However, plan a short boat ride to the Liberty Island and you can see it up close. Take a walk around the base, walk into the pedestal, and go right up to the crown (You would need permissions for this). 

UNESCO World Heritage Site

The Statue of Liberty was conferred a UNESCO World Heritage site in 1984. The Statue of Liberty has been given a status of “Masterpiece of the human spirit” that acts as a symbol of inspiring contemplation, debate, and protest of several concepts and ideas like peace, democracy, abolition of slavery, liberty, and opportunity. 

Replicas of Statue of Liberty

Countless designers across the world have tried to copy and emanate another Statue of Liberty. A few of the most famous ones are mentioned below:

1. A mini version of the original was provided by the American community in Paris. 
2. A replica resides at the Brooklyn Museum. 
3. The Boy Scouts of America, in a patriotic tribute, distributed 200 small replicas of the statue. 

The Statue of Liberty has been a must-visit location for tourists. Are you planning for a trip to New York? Make sure you pay a visit to the Statue of Liberty. 

Real estate in NYC is really expensive and hard to get as it is a prime spot in the entire U.S. If you are interested to invest in NYC’s real estate, then you need to know what types of properties are available for you to buy. This guide will make you go through all types of real estate properties that are available in NYC to invest!

Condos: 

Condos are a great option for those buyers who don’t want to make a long-term investment. Indeed, condos in NYC are more expensive than co-ops. When you will look for real estate in NYC, you will get plenty of condos available at great prices. But, the available options get sold out quickly as well. Buying a condo will give you full ownership of it along with some parts of the building, i.e. some common areas like the gym, swimming pool, etc. Even though the condo has a board; it isn’t the same as a co-op board. Because of that, you can easily rent it or sell it as the owner of the condo. 

Co-ops: 

Co-ops in NYC can be a great investment for those buyers who are willing to make a long-term investment. Besides, the purchasing price of Co-ops in NYC is a bit less than the condos. In a co-op building, the owner has to share different common areas like the gym or swimming pool with the co-op association. This is because; the shareholders and the co-op association together hold the ownership of the building and its common areas. But, you can determine whether to rent your unit or to make any major change to the co-op as the owner. 

Townhouse: 

Generally, townhouses in NYC are three or four-story buildings that are adjoined with other buildings on both sides as a complete block. So, a townhouse is a perfect choice for a buyer who wants to settle down in NYC with his or her full family. This eliminates the burden of looking for multiple apartments in NYC. While a townhouse is narrower than the detached house, it contains a backyard along with a rooftop. So, you and your family get better privacy than an apartment in NYC.

Detached home: 

Unlike a townhouse, a detached home doesn’t have common walls as it is completely separated from the construction. It is wider than an apartment and offers more space than an attached townhouse. Plus, it comes with enough outdoor space. Indeed, it is very difficult to get a detached home in NYC these days. As a result, detached homes are always in high demand and are very expensive as compared to other real estate properties. 

Commercial Properties:

Other than looking for apartments and houses, investors often look for commercial real estate in NYC. For example, NYC has many retail buildings, office buildings, warehouses, and industrial buildings. So, if you are interested in investing in any commercial property in NYC, you will surely get plenty of options to choose from. Later, you can make great profits by renting the commercial property to any retail tenants!

As we know the world has changed during the beginning of the March 2020 CoVid 19Pandeamic. Stealthily the impact of coronavirus took into every nook and cranny of our lives. As of June 22nd, the infection and death rates have now peaked and dropped so agents are once again permitted to show real estate with proper precautions. The five boroughs are the last places in the country to reopen to real estate showings, shut down completely to new transactions for three and a half months, to develop.

5 ways to change the New York Suburban real estate:

1. It’s a sellers’ Market:

The top reason for the decreasing real estate value of New York is the COVID 19 Pandemic. Thousands of New Yorkers left the city and headed to the suburban areas and real estate has been changed since. Areas that have been in declining stages for years are suddenly attracting flocks of buyers. Demand for residential real estates is high and landlords are cashing in big time. “sellers are realizing the sudden new demand- it’s like catching lightning in a bottle,” said Jaime Sneddon, a broker with William Pitt Sotheby's International Realty in New Canaan Conn. “ Who knows how long it’s going to last?’’ No one has the answer.

1. Back Country is Making a Comeback:

For years, high values on multiple –acre lots are making a comeback for large outdoor spaces and swimming pools to help them ride out the pandemic is the love feeling again.

“I haven’t seen people looking for land in 12 to 15 years,” said Mr.Sneddon, in New Canaan, Conn., where the town’s four-acre zone has long lagged. “We just thawed a market that had been frozen over for a long time.”

1. “Dated” is no longer a Deal killer:

Due to limited inventory and shifting, priorities have changed buyers are no longer turning up their noses at properties that need work i.e. demand for ready homes is the most.

1. Rents are through the Roof:

The markets for single-family rentals continue to be red hot in Litchfield Country to the North and many homeowners putting their primary homes up for rent. Avg $6000 a month range and single-family homes rented for $10,000 a month are extremely competitive.

1. Emotions Rule:

Especially if the woman is pregnant or they have babies, there are strong emotional role plays and they are ready to compromise the prices as well as the active listings.

How well the real estate market is recovering?

According to a report by Realtor.Com, it’s the time to recover though having the restrictions brought on by the U.S. housing market. The recovery index showed the matrices where gains are not equal across the country. In total 18 of the 50 largest U.S. markets have reached or surpassed January levels of market activity. Eager house hunters, equipped with increased buying power-driven by the low-interest rates, are producing quick sales and higher prices i.e. there is the slowest recovery as of July 11 (index value for New York is 108.1, index score tracks growth in online search activity, asking prices, time on the market and new listings).

Do you want to buy a home in New York during this pandemic? Indeed, buying a home is a daunting task, particularly when the world is encountering such strange and uncertain times. While buying a home in NYC, the buyer needs to take into consideration different things like the median sales price, mortgages, leases, etc. Surely, this guide will help you with this process!

Real estate price in NYC: 

Indeed, buying a home in NYC is very expensive as the median price is a whopping $779,000 in the current market. Overall, NYC’s home pricing is pretty high even during this pandemic. However, NYC has become a bit affordable now. NYC has a record number of fine apartments in different ranges to suit the best interest of the buyers. In case you need a bit cheaper home, you can look for apartments in Manhattan and Brooklyn.

Rent or buy: the decision to make!

Like most people, are you still thinking about whether to buy a home or to rent an apartment? If you are moving to NYC, then buying an apartment will be a wise decision for you. Also, you can put the new apartment on rent after you buy it. On the other hand, renting an apartment in New York will not just be expensive but you will have to pay additional costs for the mortgages and leases. So, buying an apartment is a better option in this scenario.

When is the right time?

While many say that the end of summer is the best time to buy an apartment in NYC, you need to determine the right time for you. The value of the real estate in NYC drops during the spring or the fall. While the springtime is a bit more competitive, the buyers get multiple options available to choose from. Many new developments were established at that period. So, you will surely have plenty of options at that time. 

Now, if you want to know about the worst time, then it will be during the winter. Because at that time buyers have very few listings available on the market that simply means lesser discounts. So, think wisely and decide the right time for you!

Down payment value:

Before making a purchase, the buyer should be aware of how much down payment he or she needs to make. It is one of the biggest factors to consider when purchasing a home in NYC. Generally, 20% of the purchase price is the benchmark for a down payment. The lower down payment you need to pay, the more likely to pay higher interest rates afterward. This can potentially incur several other costs in the future. On the other hand, you can easily get a home loan with a higher down payment value. 

Finally, you need to decide whether to choose a broker or get a lawyer. While you can buy real estate in NYC without a broker, you must hire a lawyer so that the purchasing process becomes smoother and easier. Besides, the lawyer will help you out if you face any confusion during this process!

Are you thinking about investing in commercial real estate of New York? Any type of real estate, whether it is commercial or residential, it can be a good investment to make. Especially due to the Coronavirus pandemic, New York’s real estate value has dropped to a great margin. So, it is time to invest your money in New York’s commercial properties over residential properties. Here is a complete guide explaining to you about the advantages of investing in New York’s commercial properties!

Future income potential: Commercial properties in NY generally bring an annual return from 6% and 12% of the purchase price, depending on the area. After you buy a real estate in New York, you can immediately put it up for rent. Via renting the property to retail tenants or businesses you will have a long-term source of income every month. Besides, the value of your property will only grow with time!

Public eye: New York is a prime hub where you will find so many retail tenants running their stores and storefronts. If you invest in these properties, then the owner maintaining the store and storefront will bring interested retail tenants to rent your property. This also helps in improving the property quality as well as the value of your investment.

Objective price evaluation: One you invest in a real estate property, you can easily put it on rent under your terms. Plus, you can check out the current owner’s income statement to determine what property price can be the most profitable. Even if you are buying it via a knowledgeable broker, you can ask for a reasonable property pricing and earn a better prevailing cap rate on that commercial property.

A professional relationship: Once you invest in commercial real estate, you can treat it as your small business. You can put it on rent and show the retail tenants that the property is for business use and is managed by professionals. This is a great way to maintain a professional relationship with the tenant whom you are letting rent your property. So, maintaining a business-to-customer relationship becomes much easier.

Triple net leases: As the owner of the commercial property, you don’t have to pay any expenses. So, you can relax about paying triple net leases. Instead, you will pay for everything via the real estate taxes. This is the only expense to pay is the mortgage. Sp, the companies which will rent your property will be paying different leases to maintain their brand quality. As a result, you have to pay the lowest maintenance costs as a commercial property investor.

As you now know the advantages of buying commercial real estate in New York, think about it and check out the available best real estate properties online. Go through the property details before investing. You can consult with the broker and the previous owner to determine the best purchase price. But, if you invest in New York’s commercial property, you will never regret that decision!