I'm planning to buy my first real estate in USA. it's A condo in NYC, what are the things I should consider? The condo is in my friend's building and we are directly taking to the owners, no brokers involved. I plan to live in it for next 2-3 years and then move to suburbs and rent it out. I'm on H1B and can afford the place (20% down and EMIs). TC: 330K #newyork
In Bronx, Staten Island? No way get 1100+ for 800k in other three boroughs..
If you go towards Coney island, there are 3 bd condos for 500k. Brooklyn is very big with all price ranges.
Or you mean Jersey city or Hoboken
If a condo is that cheap Its more than likely a co op which is a huge pita And yes the hoa called something else will be at least 3 or 4k a month
Be sure to understand if your getting into a co-op or condo. They are vastly different with regards to ownership and have heard about a lot of nightmares dealing with co-ops and their boards.
It's a condo in Brooklyn, my friend lives in the building. It's decent HOA <1k.
With the new tax laws, is there any tax benefit from morgage payments (interest and principle)
Up to 10k
How much is the condo and sqft?
1100+ sqft $800K
What neighborhood?