If you are considering moving to a different area of New York City, or perhaps considering relocating to NYC from somewhere else in the world it is wise to truly research your options. Many people believe that renting is their only option when it comes to securing their space within the city that never sleeps. However, if you have the capital to afford a year worth of rent in which hovers around $30,000 annually then chances are you have the capital to invest in property with a high probability of financial gain after as little as two years. This of course depends greatly on the location of your potential property.
It’s All About Location with Real Estate Investments
Areas like Tribeca, located in downtown Manhattan have seen a significant increase in property values over recent years, and continue to rise in value today. This means that by purchasing property in this area now, you have a good chance of seeing a significant return on your investment if you decide to sell it down the road. Alternatively, if you decide to rent in New York’s bustling city in just a few years’ time the amount of money you have spent renting someone else’s property could equal the amount you would have spent owning your own home.
Go Luxury and Increase Your Financial Return Faster
Purchasing luxury real estate is an even more beneficial way to breakeven financially, and in less time. Tribeca for example is becoming increasingly popular and high income Millennials are finding that this is the place to be in NYC. If you are interested in taking advantage of high yield investment opportunities within the New York real estate market and are searching for downtown condos for sale, be sure to check out 45 Park Place and live in the lap of luxury while you reap its financial gains.