These views and finishes are amazing, from a high floor looking west, south and east.
What’s different about condos is that you can use them as investment properties from day one, renting them out to tenants immediately.
The approval process to purchase is also streamlined compared to coop purchases.
Proof of funds, a few signatures, and you’re good to go.
Only townhouses and building purchases
have less red tape.
And while condos make up about 30% of all existing inventory, they comprise about 50% of active listings.
Prices can also be impacted by a soft rental market, as investors value condos based on the return they can get from rental income. Lower income – lower valuation.
We can discuss why at another time.
All of this is to say that if you’re considering buying, I would suggest you take a look a condos as part of your search. You may be surprised at the values you find.
And if you’d like to discuss the power of accurate pricing in a market like this, you can click through directly from the video.