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 For The Savvy Real Estate Player

Buying Brand New- Top 5 Benefits Everyone Agrees On!

Hagay Azoulay Jun 25, 2015, 7:39:00 PM New Development, Buying

Why buyers and investors love New Developments!

Yes new construction is coveted for being modern, constructed to fit today’s lifestyles and offering more options to choose the perfect layout from.  But what are the other driving factors that peak buyers’ interests?  Read on.

Benefit #1- That New Home Feel

The intangible value of securing a residence that no one has ever lived in before is ultimate.   This value is heightened by the avoidance of construction work, and the associated cost & stress that can come with a renovation project on a used home.

Benefit #2- Tax Abatement

A tax abatement is a benefit that allows the owner to receive an abatement/exemption from real estate taxes for a defined period from the City. Taxes are generally realized in increments (of increasing percentages of the total) over phased time periods.

Benefit #3- Comfortable living, environmental friendly  

Today's new condominiums are geared to comfortable living while being environmentally conscious. The installation of double or triple-pane windows aids in noise reduction; high-efficiency heating/cooling systems with environmentally-friendly coolants; and state-of-the-art ventilation and air filtration systems.

Benefit #4- Lower Common Charges

New & modern construction buildings utilize cutting-edge technology products that require less care and maintenance, improve energy efficiency.  These smart advances lower your overall monthly common charges.

Benefit #5- All Under Warranty

In new developments, your property and appliances are brand-new and under warranty providing you with years of use before needing any significant replacement or repairs.

 

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Curious how the NYC Real Estate Market is Performing?

Check out the 4Q16 Condo, Coop, Luxury and New Development market stats from experts Miller Samuel.  You'll find these benchmarks useful when assessing the overall market.

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