The Upper West Side is one of the many upscale neighborhoods of New York City. It is located between Central Park and the Hudson River. Many real estate agents also include another neighborhood, the Morningside Heights as a part of Upper West Side too. Needless to say, property values in this neighborhood are very high. Many of the residents here work in the commercial regions in Lower Manhattan and Midtown. Columbia University is also a part of the neighborhood. You will find a lot of artistic workers in this region.
However, buying apartments in Upper West Side is not easy. Given the fact that property values in Upper West Side are relatively higher, you’ll be hard pressed to find a good apartment in this area unless you work with a reputable real estate agent. Here are a few things that you should know about buying apartments in Upper West Side:
Hire a Reputable Real Estate Agent
Rather than working with a relatively unknown real estate agency, you should consider going to the biggest one. There are many real estate agencies in Upper West Side. These agencies are licensed and use services such as the Multiple Listing Service in order to facilitate the customers. As soon as an apartment goes up for sale, the Multiple Listing Service will immediately alert the agent.
Working with a reputable real estate agent is a much better option; since they will help you secure a better deal. If you are renting an apartment, the agent will charge a fee that is equivalent to one months’ rent. If you decide to buy the property, the agent will ideally charge 1% from the buyer and the seller.
Take Your Time
Don’t be hasty when it comes to buying property. Most people are usually very quick to purchase property, and often end up with the wrong deal. The most important thing about buying any piece of property is that you should be patient. If you are patient, you will find a very good apartment. Before buying the property, make sure you get it thoroughly inspected. The inspection is often carried out by the real estate agency that oversees the sale and purchase. At the end of the inspection, you will receive a certificate highlighting that the property is in good shape.
Negotiate
Negotiating a better deal is extremely important. Apartments in Upper West Side are highly desirable. They are also very expensive, which means that not many people can afford them. If you are getting a good place, make sure you negotiate on the price. It may not be much, but you may be able to knock a few hundred thousand dollars off the price.
