Choosing to move into a new development seems like a no-brainer for some. There are many reasons why you would opt to move into a brand new development in New York City over one you’d have to spend time renovating and updating. Read on for 5 reasons why you need to live in a new development.
1. Brand new everything
Imagine moving into a place that no one else has ever lived in. No one has ever slept in your room, used your bathroom or cooked a meal in your kitchen - it’s all brand new, just for you! That alone is one of the best reasons to move into a new development in NYC. That brand new feeling is one you won’t soon forget as you get used to your new digs.
Amenities for new developments will positively surprise you. These new luxury buildings in New York have everything from rooftop pools, spas, and fitness rooms. Who wouldn’t want to buy into a building that will fully cater to your every need? Imagine the thrill of inviting guests over for a personalized spa day in your building. Beyond the standard 24/7 security, these luxury new developments in NYC aim to please those willing to pay for this luxury.
3. Pre-construction buy-in
If you’ve spotted a new development about to go up in a couple of years, the best time to invest in that property is before they begin any construction. You end up getting a great deal, even though you’ll have to be patient for a few years while your new development is built. It’s a great option if you have the extra cash to invest and don’t mind waiting for your new home.
4. Return on investment
If you are seeking to reap long-term gains, investing in New York City real estate at the right time and re-selling it takes some skill, but will have a big pay off. New developments provide solid investment opportunities for those looking to have a stake in the liquid resale market. This is often appealing to foreign investors who put their cash in NYC real estate.
5. Buyer’s market
Due to the supply outpacing the demand, often you are able to find great deals from owners and investors seeking to get their units rented before other new developments surface. Use this to your advantage. Neighborhoods in Brooklyn are filling up with residential high rises where industrial and commercial areas primarily were. Even with premium price tags, it remains a buyer’s market because worried sellers are trying to fill their units by offering major price cuts.