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I'm done -- finally purchased a unit

Started by budda
about 16 years ago
Posts: 69
Member since: Jan 2009
Discussion about
After more than a year of lurking on SE, I have finally finished my residential search. I ended up buying about 14% off peak in a newer building. I think the price is relatively expensive and the cap rate is only about 2.25 to 2.5%, but I have made enough in my other investments to cover the quality/location difference, so I am throwing in the towel and moving. Its a big time savings to _not_ be shopping. For those interested in comparing rentals to purchases and relative value, you can check my old cap rate postings. Still valid, although prices do fluctuate for all assets, so you will need to adjust the numbers. Other than that, thanks for the advice on the website, and good luck to all. Best regards, Budda
Response by nyc212
about 16 years ago
Posts: 484
Member since: Jul 2008

Congrats!

...and don't pay attention to the skeptics who've been saying that, by now, the NYC real estate would be 80% off peak!

If you loved the place and you can afford it, why listen to people who'd tell you to live in some rental bldg.?

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Response by MovetoUWS
about 16 years ago
Posts: 3
Member since: May 2010

Congratulations on your purchase!

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Response by inonada
about 16 years ago
Posts: 8085
Member since: Oct 2008

Congrats, budda.

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Response by LoftyDreams
about 16 years ago
Posts: 274
Member since: Aug 2009

Congratulations and good luck! I bought in new construction six months ago and have finally got a closing date next month, so I still haven't moved in. And I'm still hanging around on SE because it's still fun.

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Response by evnyc
about 16 years ago
Posts: 1844
Member since: Aug 2008

Congratulations! Enjoy your new home.

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Response by hol4
about 16 years ago
Posts: 710
Member since: Nov 2008

"Its a big time savings to _not_ be shopping."

agree very much, it's pretty much a full time job.

Congrats!

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Response by CarolSt
about 16 years ago
Posts: 361
Member since: Jun 2009

Another happy property owner.
Good luck and enjoy.

Life is short. Live a little.

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