Renting vs. Owning

Demand for rentals has risen in Manhattan, since the foreclosure crisis cause more people thinking to rent instead to own in this neighborhood. Although some renters believe that renting is “duty free”, however, there are duties on paying rent. Renting offers you NO equity, NO tax benefit, and NO protection against rent increases. Consequently, you are helping to pay the other person’s mortgage. Also the rental price is not cheap in Manhattan.

Real estate is a long-term investment opportunity. In this shifting real estate market, you may be able to purchase investment real estate that will secure your financial goals for the long term.

Reasons to buy in today’s market:
1) Interest rate is low, and the average listed home price is still low in NYC.
2) A wide choice of outstanding inventories are available In Manhattan.
3) New York City properties have great value.

One thing is for sure, the market is firming at Manhattan, NY area. And dream is on the upswing. When the housing prices go back up, you can sell it for a good price. Also very important is, there was an article on the New York Time last month which the famous developers predicted that the price of the real estate in New York City could be increase significantly in 2012 since these couple of years almost no new buildings came on the Manhattan neighborhood. Therefore, once the current inventories sold out, the price would go up in NYC. So don’t miss this opportunity.

Manhattan Real Estate Market is very unique. The entire purchase process is different than anywhere else in the world. If you are interesting to have a FREE consultation, if you have any question about sell real estate in Manhattan, contact me directly Diana Wu at 516-320-0231 (cell) or email me at diana.wu@elliman.com, I work for The Voda Group, the  AWARD-WINNER group from Prudential Douglas Elliman.

To learn more about our custom-designed marketing plans, visit my website at:  http://www.elliman.com/real-estate-agent/diana-wu/4623 to receive a complimentary valuation of your home, or to discuss any real estate related topics, please contact us today.

Reaching out to others in the real estate community and sharing ideas is the goal of this blog, so please do not hesitate to reach out to me. All comments are welcome. Also, please feel free to email me at anytime at dianawu883@gmail.com

Other useful topical:
What You Can Get For Your Money – The Neighborhoods of Manhattan
5 Tips for Purchasing Real Estate in Manhattan
New York, Manhattan Neighborhood – mistakes the 1st time buyers will make
• Manhattan Renters — Tips for Reinforce Credit Score to Buy your Dream Home
Manhattan Real Estate Glossary – Types of Rooms
Manhattan Real Estate – Why is the time to buy

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