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FEATURED BUILDING
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Sale
10 beds / 4.5 baths
477 HALSEY STREET - 1
Bedford-Stuyvesant
Sale
3 beds / 2 baths
965C KENT AVENUE - C3
Bedford-Stuyvesant
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Highline Blog
Blog Image for When to Make the Jump from Renting to Buying
by Highline Residential
For many Millennials - especially those in a big city - apartment living or staying in a rental home is the norm. One recent survey found that 18% of Millennials want to rent forever. Homeownership used to be a major part of the American dream. But for this and future generations, it might seem like an impossible dream. Renting is often easier and less of a financial burden on a generation that has had to endure everything from hefty student loans to a sluggish economy. But, there are more benefits to homeownership than you might realize. If you've been considering transitioning into owning your own home, understanding some of those benefits and weighing out the pros and cons will make your decision easier. So, should you make that jump from renting to buying? If so, when? The Pros of Homeownership If you've been renting for any length of time, you're probably well aware of the benefits, including things like not having to take care of your own maintenance, and not having to commit to one place on a long-term basis. But, there are also some cons to renting that might have you thinking about homeownership, in the first place. Your payments will never stop. Rental rates consistently go up. There are no tax benefits. Plus, most rental properties and apartments have plenty of rules and regulations you have to follow. While owning a home is more responsibility and a greater commitment, the benefits might make you think twice when you compare them to the d…
Blog Image for How should you prepare to purchase a home in the city?
by Highline Residential
Owning a home can prove to be your largest source of wealth throughout your life. You are investing in yourself and your future! How do you prepare to have a positive and successful experience? 1. Get your finances in order. You will need to present your financial qualifications not only to a lender in order to get a mortgage loan, but also to a coop or condo board, and to the seller of the property that you want. You don't want to find your dream home and then not be able to proceed because your finances aren't organized. The information that is important is: your current salary or income, credit score, assets, liquid assets, and also your financial obligations or debt. You should also ask yourself if you plan to make any other major life changes soon or are planning any other big purchases. 2. Get Pre-Approved for a Mortgage Your Highline agent will be able to recommend a mortgage lender or mortgage broker who can help you. No seller will accept your offer for a property if you can't prove that you can get the mortgage loan that you need to purchase their property. 3. Make your Wish List This is the fun part! What is important to you? Where do you want to live? How many bedrooms do you need? Are you willing to make alterations to a new home to "make it your own?" 4. Find a Real Estate Agent If you haven't already, now's the time to find your real estate agent. Maybe a friend can make a recommendation. As a buyer, your real estate agent will be your "fidu…
Blog Image for Inspection Points to Double Check Before You Buy a Home
by Highline Residential
Deciding to finally purchase a home is a huge deal. Owning a home can open several financial doors that create plenty of opportunities. Perhaps even more important, it means you can do whatever you want - play music past 10 p.m., paint the walls a crazy color, or even walk around naked. Although all of these exciting things can increase the urgency of getting settled into a new home in the big city, there are still plenty of things to watch out for. Even the most amazing home can have fatal flaws that would have you wishing you'd never signed the paperwork. To avoid those terrible regrets, here are some things to double-check before purchasing a home. Structural Integrity The biggest concerns to watch out for in any potential home purchase are often the ones that are difficult to see. Because of this, it is really valuable to ensure the home is inspected before signing any paperwork. Home inspectors assess the home thoroughly and without bias, which means you can get an honest, professional opinion of what problems might be lurking within the walls. You'll want to really pay attention to issues associated with the structural integrity of your home. If the foundation is cracked and needs to be fixed or the electrical wiring is dangerous or there is significant water damage from a leaking pipe, you or the seller might be looking at thousands of dollars in fixes just to make the home truly livable. Most banks won't offer home loans on houses that don't meet basic i…
Blog Image for Preparing for First Time Home Ownership
by Highline Residential
Homeownership is one of life's grand journeys. As with all adventures, if you want to be successful, it's important to go into the action prepared. Here are a few tips to help new homeowners prepare for their first foray into the world of homeownership. Lay the Financial Groundwork Early You may have crunched the numbers and found that a 30-year mortgage payment is actually lower than what you're paying for rent. While this may be true, many other factors go into paying for your own home, such as: A down payment and even the potential for earnest money to help you get the house in the first place; Property taxes and homeowner's insurance; Gas, electric, and other utility bills; Maintenance and home improvement projects; HOA or co-op fees. These extra costs shouldn't deter you from purchasing a home. On the contrary, the long-term investment can be very financially rewarding. However, to make your home a monetarily savvy purchase, you must be honest about the costs involved. Know What to Look for The next step is to consider what factors you need to be aware of when buying a home. Even if you've decided to buy a fixer-upper that needs work, it's still important to go into the experience knowing what kind of work you're willing to do as well as what basic structural requirements are needed to do it. If you aren't up for investing some sweat equity, it's even more imperative to do your research beforehand. A few of the more common home buying consider…