After two months of living in our new New York City condo, we finally recount our lessons learned from buying a condo in New York City as first home buyers. We bought our first home at the age of 24 (25 for him), and we learned a lot together. What to look for and search in a condo or our first home, the actual process from searching to moving in, the money aspect of down payments, closing fees, taxes, and assets, and even as a couple with things we learned about each other! If we had to turn back time, this is the advice we would give us as first home buyers – especially in a crazy market like New York City real estate!
Hopefully you can learn from all of our lessons so your own journey will be smoother! We had a pretty smooth journey, but lessons are always learnt.
On Monday I released a video on how you can get into the Affordable Housing lottery program in NYC.
Watch that here: https://youtu.be/8pzWDD5atoU
However, it’s not for everyone! In this video, I go over the Pros and Cons (as well as some tips)! As someone who has been in the 421a affordable housing program the past two years, I share my insights and advice for anyone who is interested (or not interested) in more affordable housing in the expensive city of NYC!
Something I realized not a lot of people knew about is that people of medium income can also get Affordable Housing. In NYC, there is a long and winding process, but I break it down in this video. Landlords get a 421a tax abatement. This is one way to save lots of money on rent! It was also how my boyfriend and I saved money to eventually buy a condo. Going to miss living in this newly constructed apartment in Williamsburg, Brooklyn!