Maxwellimus, Home Buyer in Prospect Heights, Br...

A studio in PH a good investment?

Asked by Maxwellimus, Prospect Heights, Brooklyn, NY Sun Apr 22, 2012

Hi,

Im a frist time home buyer and I was wondering if a studio is a good investment in the area given it's great access to public transportation and restaurants, bars in the area.

I know many families reside in PH so I am a bit hesitant on purchasing a new development studio. My plan is to live there for a few years and start renting it out in the future. Is there growth in PH? Or has it pretty much matured?

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Answers

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Dear Maxwellimus:

Nobody has a crystal ball to predict the future with 100% accuracy. Having said that, Brooklyn is one of the safest places in the world to invest in real estate. There is always demand and the population is always growing. Prospect Heights has become somewhat of a hot spot right now and I think the prognosis for futures values rising is very good. In the end it depends on how good of a deal you receive when you purchase.

Also, if you are currently renting, it behooves you to buy something because you get a big write off on your income taxes when you purchase a primary residence. If I can be of further assistance please let me know. Good luck!

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes Thank Flag Link Mon Apr 23, 2012
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