Give me a call at (718) 698-2179 at Prosperity Real Estate Group, We are on Richmond ave as well, I can help you answer any questions you may have, this is not commitment to come with us. YOu can call and inquire about this even if you are already working with someone. Buying a properity is a constitutional right, and we are here to make sure you are not provided with erroneous information. We welcome this questions because it allows us to do research for you and ourselves which we can share with others.

My Name is Caesar Galindo Office manager, and Law Student at CUNY Law School.

The home are more affordable. Please give Albert of Unlimited Funding a call. He has many programs and I'm sure he will find the best one to meet your needs.
His number is 718-459-9300

Mine is 917-497-0729

Good Luck!

Henry

Thank you very much for your answer

Goodness, another great question and one that is common w/ real estate investors. I wish I knew, so I could buy. Honestly, if I were in your position I would research the neighborhoods. What is the neighborhood like? Is the neighborhood changing with new restaurants, grocery stores, cafes, boutiques coming in? Are a lot of old buildings being renovated? Near green space/park? What amenities are there around the building (near public transportation, grocery stores? What amenities does the building offer its residents? How much appreciation are you looking for and how fast do you want it? A Realtor or RE Pro should be able give you the sales history of a building.

I'm not proponant of buying real estate as purely a short-term investment. You should buy when you need to buy. Sell when you need to sell. I can't give you a better answer, but a lot of RE Pros should be able to. Let's hope they do.

Hi, Aileen and thank you for your prompt response. I am mainly interested in Bay Ridge since that is where I currently reside and Riverdale, Bronx is optional. I am looking at a price range no more than $300,000. In terms of value appreciation which one do you think would deliver better appreciation a brand new condo or an old condo?

Congratulations on your new degree and your new job. When you mention that you have 10% to put down on a condo, what price range are you targeting? Which neighborhoods? In your case, I would probably wait, unless you have a guarantor or co-purchaser on the transaction. More and more condo boards (at least in Manhattan) have financial requirements similar to co-op boards. Those boards may want to see more financial stability. Addtionally, depending on where in Brooklyn you're looking, the market may not have reached bottom. You know what they say, "buy low, sell high."

Pros of buying a condo - it's real estate, wherein a co-op isn't; it's easier to sell than a co-op; condos generally appreciate quicker.

Cons of condos - generally smaller than co-ops; your neighbors are more transient.

It doesn't hurt you to attend open houses. It doesn't hurt you to save more money. When you're ready to purchase, consider having a Realtor on your side to help you on your search and to make sure you're not overpaying. Lastly, have you spoken to a mortgage broker? You should know what you qualify for before you start looking. They may even help you improve your credit rating.