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Home Page > Finance > Real Estate > Is Buying A New York Condo Is Better Than Renting An Apartment

Is Buying A New York Condo Is Better Than Renting An Apartment

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Is Buying A New York Condo Is Better Than Renting An Apartment

By: Brittney Foster

About the Author

New York Condos can come at a heafty price if you don’t know how to shop. Our company specializes in NY condos along with other surrounding areas. We can help you through all of it

(ArticlesBase SC #103572)

Article Source: http://www.articlesbase.com/ – Is Buying A New York Condo Is Better Than Renting An Apartment

Are you planning on moving to the New York City area? If you are, have you decided where you would like to live yet? When it comes to living in New York City, there are a large number of individuals who decide to rent an apartment. While renting an apartment is more than possible, did you also know that you have another option? That option involves buying a New York City condo or a Manhattan condo.

When deciding where to live in New York City, there a large number of individuals who are overwhelmed with some of the decisions that they must make. If you are feeling the same way, do not worry. It is completely normal to be concerned with where you will live, especially if you are relocating with your family. Although deciding whether to rent a New York City apartment or buy a New York City condo seems like it could be a long, complicated, and overwhelming task, it doesn’t necessarily have to be. What you are advised to do is sit down and examine all of your options, as well as the pros and cons of each.

When it comes to renting a New York City apartment or a Manhattan apartment, there are many individuals who wish to do so because of the lack of responsibility. Yes, if you rent an apartment it will be your job to keep your apartment clean and in good condition, but that is where your responsibility tends to end. For example, if you are experiencing a plumbing issue, it is your landlord’s responsibly to fix and pay for any pluming repairs. As a renter, you are not the owner of the apartment or even the building complex; therefore, your responsibilities are limited, particularly when it comes to apartment repairs.

Another benefit of renting a New York City apartment or a Manhattan apartment is the commitment. Although you will likely to be required to sign a lease, typically a one year lease, it is easier to move, if you wish to do so. As a renter, you will have to pay your rent, month to month. At the end of your lease, you should have the ability to renew your lease or even not renew it, if you wish to do. When renting a New York City apartment or a Manhattan apartment, it is easier to pick up and move. In fact, if you are lucky to get an understanding landlord, you may even be able to terminate your lease early, if you provide enough notice.

Although there are a number of benefits to renting an apartment in the New York City area, there are also a number of benefits to owning a New York City condo or a Manhattan condo. One of those benefits is that you are actually considered a property owner. Condo complexes are designed to house multiple property units or building units. Each of these units, which are referred to as condos, are like a combination of homes and apartments. Many condos come with bathrooms, kitchens, dining rooms, offices, family rooms, and multiple bedrooms. Although you do not actually own the condo complex, you own your living space and you are joint owners, with the other condo owners, of all community property.

Another benefit to owning a New York City condo or a Manhattan condo is popularity. In the New York City area, condos are highly sought after. Should you later decide, after buying a New York City condo that you do not like the condo that you bought or if city life isn’t just for you, you should easily be able to move. Yes, it will be a little bit hard to leave than if you just rented an apartment, but it is possible to do. Should you decide to sell your condo property, all you will have to do is place it available for sale. You may even want to work with the condo complex owner or association to get the ball moving quicker. However, as it was previously mentioned, condos for sale in New York are highly sought after; therefore, you shouldn’t have a difficult time finding a buyer.

As you can see, there are a number of advantages to buying a New York City condo or a Manhattan condo, as well as renting a city apartment. It is also important to note that each has their own disadvantages. In all honesty, you need to examine your wants and your needs. Would you like to own your own place? Would you like to have as little responsibility as possible? These important questions may make determining your New York City living arrangements a relatively easy decision.

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Brittney Foster -
About the Author:

New York Condos can come at a heafty price if you don’t know how to shop. Our company specializes in NY condos along with other surrounding areas. We can help you through all of it

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So the question is can you get a modern condo which is also a decent size?

The answer to this depends on how flexible you are with your requirements. The biggest difference between the two is square meter (metre), in that Older Condos provide much more space than newer units. Case in point, Sukhumvit Soi 59 which has a cluster of new and old buildings located not too far from each other.

A closer look at the difference between 2 buildings in the same Soi;

Moon Tower – Built in the 1990’s with facilities such as a pool, gym, sauna, squash, a beautiful garden area to relax in and 24 hour security.  A fully furnished 2 bed, 2 bath condo here offers 202 square meters (metres) renting for 50,000 baht/month. The units here are very clean and the building itself is maintained quite well.

59 Heritage – This building was just completed this year (2010) and has facilities such as a pool, gym, steam room, garden area and 24 hour security. A fully furnished 2 bed, 2 bath condo here offers a mere 70 square meters (metres) of space for 45,000 to 50,000 baht/month.

Some quick math and we realize that the difference is not subtle but substantial. For almost the same price you would get 132 square meters (metres) more, that’s almost another condo in itself.

Similarly a new 1 bed, 1 bath condo would be around 42 square meter (metre) for 20,000 baht/month as opposed to an older unit with modern furniture offers a 1 bed, 1 bath condo around 63 square meter (metre) for the same price.

Again the question arises is it possible to get a modern condo with larger square meter (metre)? The answer is yes it is, but you have to make some sacrifices in your requirements. There are some older buildings that have completely renovated the entire building including majority of the units, to be clean and modern with very desirable square meter (metre). There is a building like this in On Nut that offers great value for money where a 2 bed, 2 baht condo is completely modern at a 135 square meter (metre) for only 40,000 baht/month. I know what you’re thinking, who wants to live in On Nut? Well I did mention you would have to flexible with your requirements, didn’t I?

So all in all is it possible to get a Brand New Modern condo with large square meter (metre)? The answer is unfortunately No because they just don’t build them like they used to. But you could find older buildings which have been renovated to look modern.

If you are in search of new modern condos then visit www.condobangkok.org, alternately if you don’t mind older buildings have a look at this site www.relianceps.com.

When you plan your next vacation, however, it is best not to jump into a rental without first doing some solid research. For a vacation to be relaxing and memorable, it must also be carefully planned to the last detail, otherwise you may find yourself scrambling to find a room at the peak of the season! If you are seriously considering a vacation rental at the beach, be it the pristine coastline of Currituck County or Virginia Beach, take care to follow these helpful hints before you pack.

1) Research the rental company

Especially if you are traveling from out of state, you will be placing your trust in a rental company to set you up with a nice vacation home rental, sight unseen. Before you hand over any credit card information to reserve accommodations, do your homework. If you know people who have rented in the area previously, ask for recommendations. Were the agents or rental companies they used helpful and courteous? Did they have a good knowledge of the area? Did they offer rentals in a reasonable safe area of town?

Most large travel websites may not deal with individual vacation rentals, leaving you to research the websites of specialized rental agencies. Study their websites – do they look professional? Are there detailed pictures of each available home, cottage, and condo for rent? Are there pictures of the area and neighborhood surrounding the home? Are prices listed on the website? Is there a directory of nearby attractions, restaurants, and shops? Are amenities listed and shown in photos?

In shopping for a rental for your vacation, it is best to contact several agencies before making a decision. Find out how long each company has been in business, and how many properties are managed. Compare pricing and location – if you want to spend most of your time at the beach, you want to make sure the house you rent is within proximity.

2) Your responsibilities versus their responsibilities

When you go on a vacation, so many things come to mind when you pack. You want to bring comfortable clothing, water sports equipment if you plan to play at the beach, maybe your golf clubs if there is a course nearby. When you rent a vacation home, however, you may have to pack more than you realize. It is a good idea to find out beforehand.

Always ask the rental agency questions about the house you plan to rent. Will you need to bring sheets and towels? What kitchen equipment is available to you? If you are renting a condo or a duplex, will you have to share amenities? Will you have access to a clubhouse, private beach, or a swimming pool?

It is possible, too, that during your vacation there could be an occasional mishap. You may experience plumbing problems, or a power outage. In the event of damages or such hiccups during your vacation, make sure you know what the rental agency is responsible for fixing, and if you are liable for any repairs. Find out if the agency has maintenance on staff to help you with any problems.

3) Research the area

If you are traveling to an area you have never visited, it is a good idea to research your intended destination before you visit. Especially if you plan to travel by car, you want to make sure you don’t get lost and threaten the enjoyment of your trip.

When you have rented your vacation home, explore the neighborhood with the Internet. What stores and restaurants are convenient? Do you know where the closet hospital or outpatient clinic is, in case of emergency? What attractions are nearby? If you are traveling out of season, it is recommended to call ahead to a few places you would like to visit to make sure they will open when you arrive. This is especially true of beach resort towns, where many places close up for the winter.

With enough planning, a vacation rental in a beach destination like the Outer Banks can provide your family a fun-filled vacation. Do your homework, then relax and enjoy.

When it comes to arranging a stay at a Chicago condo, you will find that you have a couple of different options. One of those options involves renting a Chicago condo for the length of your stay and the other involves actually purchasing your own Chicago condo. While you might automatically assume that renting a Chicago condo is the best way to go, you are advised against making your decision on an impulse. Renting a Chicago condo is not a bad choice, but after a close exanimation, you will likely see that it wiser to actually buy your own.

Despite it commonly being wiser to purchase a Chicago condo, instead of renting one, there are still a number of benefits to finding Chicago condos for rent. One of those benefits is the ability to come and go as you please without any worries. When renting a condo, you just need to make your reservations in advance, pay for those reservations, and you are good to go. You have no other responsibilities, aside from keeping the condo in a presentable condition. Not actually having any responsibilities is nice because it allows you to come and go as you please, with out having to worry about keeping up with your condo insurance policy or paying all of your utility bills.

While being able to come to Chicago do what you need to do and then leave without any worries is nice, it may cost you a fairly large amount of money to do so. The amount of money that you end up spending will all depend on how often you come to the Chicago area and how long you stay while there. For instance, if you find yourself traveling to the Chicago area at least once or twice a month, you could expect to pay around two thousand dollars to rent a condo, each trip. In the same aspect, if you are able to find a condo for sale for one hundred thousand dollars, your condo could easily end up paying for itself in around two or three years. Yes, renting a Chicago condo will save you money upfront, but you are advised to think long-term. When you do, you may see just how much money owning your own condo can save you.

Owing a Chicago condo is perfect for many travelers, but that doesn’t necessarily mean that it is right for you. However, with that in mind, you are at least urged to examine Chicago condos that are for sale. Above, one hundred thousand dollar was used as an example of how much a Chicago condo may cost. In all honesty, many Chicago condos cost more than that, upwards of three hundred thousand dollars, but with a little bit of research, you should be able to find affordable priced Chicago condos for sale, some of which start out at around one hundred thousand dollars. Thanks to the internet, that research can be done in as little as a few minutes or a few hours, at the most.

If you would like to look more into owning a Chicago condo, you are urged to examine Condodomain.com. They have a large amount of information on Chicago condos, including condos that are currently available for sale. As previously mentioned, even if you decide that buying a condo isn’t right for you, it still advised that you give available for sale condos a quick glance. Should they still not be right for you, you can further examining rentals.

What was it that lured Ray to Bangkok in the first place? Was it sex and the city? Wine, women and song? Or a just plain old interest in the City of Angels-a literal translation of its other name-Krungthep. Certainly Thailand was on the list of one of the more fascinating places to visit, he’d rocked up from Kathmandu at the time, it had been a choice of heading back to the UK or using the little money he had left for a flight to Bangkok… the choice wasn’t that difficult.

Roughing it

He hadn’t known anyone in Bangkok, not a soul, but he’d been in India and Nepal for the past six months and had heard that Thailand was like Disneyland in comparison-thanks to the hospitality, warmth of the Thais, delicious safe food and the possibility of work.

His first task was to find rock bottom budget accommodation-which happened to be where all the other backpackers used to go; Banglampoo or better known Khaosan Road area which is a stone throw from the Grand Palace.  The guest house he had stayed at offered him a corridor dorm like bed at first, cheap for the price but no guarantee of a good nights sleep. After a while he’d managed to graduate to a room of his own-a tiny squalid roach infested room in the corner of the house with a table fan and no window-pure luxury! Those days were hard, but for 20 Baht a night what more could he expect? This was his first experience of renting in Bangkok. He did however; achieve exactly what he had intended on the budget available at the time. Eventually, Ray gets the job, moves to a condo, meets the rent, meets the girl and finally settles in Thailand. But behind the story of Ray, we can see just how easy it was (well if you can rough it a little) to make ends meet and still manage to make Bangkok our home. Nowadays, similar accommodation still exists in Bangkok but if you don’t fancy roughing it in the city, there is an extensive range of much nicer accommodation from quaint town apartments at moderate rent rates to the super deluxe condominiums that boast wonderful skyline views of the city.  In my book this would come under the category of comfortable living but for the sake of soul enlightenment?

Shopping the area

According to current statistics the city covers an area of 1537 square metres and is now networked not only by a rapid transport system, but also by a high speed global communications and intranet link. Is it any wonder that Bangkok attracts more business investment along with a new breed of executive class resident?

Of course, it would probably be better to do your homework before moving into rented accommodation, it’s not as final as say buying or leasing a property but it would still create a major hassle if you made a mistake. Check out the area you want to move to. How about the amenities, shopping, schools, fitness gyms etc? The more the merrier and the better the class of area. Compare hotel prices with renting, we know that hotels are more expensive but renting also comes with those extra costs like water and electricity etc.-check those out before deciding.  After you have done your homework you are ready to go to the next stage, use a reputable real estate agent to do the rest for you. Companies like Forbest Properties have an extensive list of apartments and condos for rent, a reliable and simple method.

A far cry from a rough and ready patch that Ray had lived in but then again, we shouldn’t forget the old saying  “Enlightenment must come little by little – otherwise it would overwhelm.”

When it comes to determining how you should go about booking your Makena vacation reservations, you might be wondering which method of booking is best for you and your needs. While it can be somewhat difficult to choose a booking method, it doesn’t necessarily have to be. What you will want to do is take the time to examine the advantages and disadvantages of each booking method. Understanding these advantages and disadvantages may give you some insight into the world of vacation booking.

As previously mentioned, one of the many ways that you can go about booking your stay at a Makena surf condo is by using an online travel website. When using an online travel website, you may want to think about using a travel website that is known as a Hawaiian travel website. Hawaiian travel websites are websites that have a focus on Hawaiian vacations. With a Hawaiian travel website, you are likely to get a larger number of results, when it comes to searching for Makena surf condos. Regardless of which type of travel website you use, you can easily search for Makena surf condos that are available when you need to rent them, all in a matter of minutes. In addition to booking your reservations online, can also customize your searches to eliminate Makena surf condos that do not fit your needs.

In addition to booking your reservations online through an online travel website, you can also use the internet to book your Makena surf condo reservations directly. As nice as it is to book your reservations directly, you will find this method of booking time consuming. When booking your own reservations directly, you will need to find Makena surf condo owners that have available rentals. Before making your reservations, you will need to make sure that the surf condo you want to rent can accommodate you and your traveling party. That is where the time consuming part can come in, especially if you have particular wants or needs.

Although it is always nice to have complete control over making your own Makena vacation reservations, you may not necessarily want to. Whether you do not have internet access or if you do not have the time to research Makena surf condos, you may want to think about using the assistance of a professional travel agent. A professional travel agent is an individual, often an expert in the field of travel, who can offer you vacation ideas, tips, and suggestions. In addition to giving you suggestions on your next Maui Makena vacation, a professional travel agent can also book your reservations for you. The only downside to using a professional travel agent is that you will still need to communicate with them; therefore, in a way, you are still kind of making your own vacation reservations.

As you can see, there are a number of advantage and disadvantages to booking your Makena surf condo reservations directly, through an online travel website, or with a travel agent. Perhaps, the best way to choose a booking method is to examine what your wants and your needs are and then apply them to the above mentioned advantages and disadvantages.

Before you can further examine the options that you are given, when booking a stay at a Maui vacation condo, it is important that you know exactly what they are. This is extremely important because, unfortunately, there are too many individuals who are misinformed when it comes to Maui vacation condos. Condos are another word that is used to describe a condominium. Condos, including Maui vacation condos, come in a number of different sizes shapes and styles. No matter their style be, such as a high-rise building, condos are living spaces that are housed within those buildings. In a way, these living spaces are like traditional apartments. It is not uncommon for most Maui vacation condos to come equipped with full bathrooms, kitchens, and much more.

Now that you know exactly what Maui vacation condos are, which are not to be confused with vacation homes, you can start to focus on the choices that are given to you. Perhaps, the most important choice is that of the condo itself. As previously mentioned Maui vacation condos come in a number of different sizes, shapes, and styles. In the Maui area, it is most common to find condos that are in high rise buildings. This is often due to the number of condos that a high-rise building can house. The size of individual condos also varies. A large number of Maui vacation condos are considered two room condos, but it is also possible to rent Maui vacation condos with additional living spaces.

In addition to the size of a Maui vacation condo, you are also given a choice with the location. Maui is one of Hawaii’s most well-known and popular islands. All across the island, you are able to find a fairly large selection of Maui vacation condos that are available for rent, often for a week, but sometimes even longer. Since Maui is an island that is known for its beautiful beaches, a large number of Maui condos are situated along the coast. These condos are often referred to as beachfront vacation condos. Although you may be prefer to enjoy Hawaii’s beaches, there is also a chance that you would like to be in a more centralized location. In addition to beachfront vacation condos, there are also a number of inland Maui vacation condos that are available to tourists just like you.

Aside from focusing on the reservations that you will be making, you also need to think about how you will be making those reservations. One of the most popular choices, when it comes to making Maui vacation condo reservations, is by using the internet, namely online travel websites. In addition to making your own Maui vacation condo reservations online, you can also use the assistance of a travel agent or book your reservations with a condo owner directly. Although each method of making your reservations is acceptable, you may want to think about using the method that saves you the most money, as well as the most time. Often, you will find that method to be an online travel website.

Regardless of which type of Maui vacation condo you choose to rent or how you go about making those reservations, it is advised that you make your reservations ahead of time. While there are always enough vacation condos to go around, making your reservations ahead of time will help to ensure that you get your first choice Maui vacation condo before someone else decides to reserve it.

How Apartments And Condo Rentals Are The Same

One of the first things people notice when deciding whether to rent a condo or an apartment is that both properties are set up the same way with several units in one building. You don’t have to be concerned about purchasing outdoor maintenance equipment like lawn mowers, sprinklers, and edge trimmers.

Some units might also include things such as TV services, utilities, or cleaning services in addition to great scenery outside your window. They both can have rules outlining what you can have or do in your space like painting or smoking. On the other hand, once your lease is up, you can move without trying to sell it in the poor quality market.

The Benefits Condos Have Over Renting An apartment

You will have several added conveniences if you choose to rent a condo. Otherwise, you would need special, costly memberships to various organizations throughout the community. These amenities could include things such as saunas, Jacuzzis, or pools as well as sports grounds like golf, tennis, or entertainment spaces.

Memberships or large discounts for gym memberships, spas, or golf and country clubs are sometimes included with your monthly condo rent. There are other lavish benefits including live security rather than just a locked door and underground parking. Boards or associations who run condominium groups also often hold social gatherings on special occasions. To finance the extras, any of the costs incurred by the building as a whole are divided equally among tenants including maintenance and expenses.

Condos Have Down Sides

Because condo rentals have so many benefits and luxuries that come with them, they also carry a larger price tag each month. The added charges are paid on a regular basis in order to cover maintenance, utilities, and costs incurred by the building itself and are similar to a rent payment.

The condo board or association also has rules that are independent from the contract signed with your landlord. For those who break these rules, there might be fines as punishment. These groups often require you to put in a certain number of volunteer hours each year. This, however, will depend on the contract you have with the property manager since these hours are technically the owner’s responsibility.

When choosing between renting an apartment and a condo rental, the answer should be based on what you are comfortable paying and what you would like to have. For those who do decide to rent a condo, you can enjoy luxurious living with a variety of amenities to choose from. For those who prefer an apartment, there are still many added benefits without additional, large fees.