Buying in NYC Archives

What Exactly Is an Alcove Studio in NYC?

By hauseit / October 17, 2019 October 17, 2019

An alcove studio is a studio apartment with a separate sleeping area on either side, at the far end of the main room. This nook or "alcove" is typically left open to the main room, and is typically only large …

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How is Co-op Square Footage Calculated in NYC?

By Hauseit Research / October 14, 2019 October 14, 2019

Co-op apartments generally do not have official square footage numbers, although listing agents will often list a size in their marketing materials. Don’t trust these numbers because not only are they purely estimates that are inflated by at least 10% …

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Should Married People Be Buying a House Without Their Spouse?

By Hauseit Research / October 11, 2019 October 11, 2019

You certainly can buy a house without your spouse, and sometimes this may be the wiser move if your spouse has poor credit or lots of existing debt. However, whether you should buy a house without your significant other depends …

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Listing agents pushing to sell sooner for less, buyer agents avoiding FSBO sales. How to deal with conflict of interest in real estate + real life examples.

Conflict of Interest in Real Estate and How to Deal

By hauseit / September 25, 2019 September 25, 2019

There are many conflicts of interest in real estate to be wary of, especially if you are a first time home buyer in NYC. We’ll go over a number of examples of conflict of interest in real estate between listing …

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The Housing Stability and Tenant Protection Act of 2019 restricts apartment deregulation in NYC and strengthens tenant protections for rent-stabilized and market rentals.

Changes to NYC Rent Laws for 2019

By hauseit / September 3, 2019 September 25, 2019

A number of new rent laws and regulations recently took effect in NYC following the passage of the Housing Stability and Tenant Protection Act of 2019 by the New York State Legislature. Changes were made to rent stabilization laws, real …

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What is the financing contingency in NYC real estate? What does a financing contingency clause look like? Financing and funding contingencies, explained.

The Financing Contingency Explained

By hauseit / August 29, 2019 August 29, 2019

The financing contingency is often misunderstood when it comes to NYC real estate deals. The financing contingency is actually a rather broad term for a contract contingency that can include many negotiable parts, such as an appraisal contingency or minimum …

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What are Co-op Shares in NYC Real Estate?

By hauseit / August 27, 2019 August 27, 2019

Co-op shares are units of ownership in a cooperative corporation that owns an apartment building, not unlike owning shares in a regular business corporation. The coop corporation’s main asset will typically be the apartment building, and thus each shareholder will …

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Real Estate Investing for Beginners

By hauseit / August 27, 2019 August 27, 2019

Most articles on real estate investing for beginners will give you basic tips like getting pre-approved for a mortgage or other things you already know. We’ll take a contrarian approach in this article and talk about the pros and cons …

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Real estate agents are not obsolete in NYC. Over 95% of sellers and 75% of buyers use brokers in NYC, and commissions remain stubbornly fixed at 5% to 6%.

Are Real Estate Agents Obsolete in NYC?

By hauseit / August 27, 2019 August 28, 2019

Real estate agents in NYC still represent over 95% of sellers and over 75% of buyers as of today despite major advances in technology and information accessibility for consumers. Furthermore, real estate commissions in NYC remain stubbornly fixed at 5% …

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Low rental yields, new rent regulations and difficult tenants are just some of the reasons why buying a multi family home in NYC is a bad investment.

Why Buying a Multi Family Home in NYC Is a Bad Investment

By hauseit / July 23, 2019 August 29, 2019

Buying a multi family home in NYC is a bad investment because rental yields are extremely low, opportunity costs are high, dealing with bad tenants is mind-numbing, evictions are impossible, local rent laws are stifling and labor and maintenance costs …

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