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So, you want to move to New York City. We don’t blame you! This city is packed and bursting with amazing things to see and do, from thriving cultural attractions to delicious eateries and some of the most attractive bars and clubs anywhere in the United States. No one would argue this point, but how does the city fare in more practical aspects? Let’s find out what the local realtors in New York City tell us!
Of all the practical factors you might consider when planning a move to the Big Apple, the state of the real estate market is among the most important. Few things are as important as shelter, and the real estate market is the best place to find it. So what do real estate agents in New York City NY have to say about their real estate market?
Well, the first thing real estate agents in New York City NY will tell you about their city’s real estate market is the price. Buying a home in this city is prohibitively expensive. With a median home price of a staggering $656,000, this market is not for the financially challenged. Still, this price is lower than many other similarly sized cities.
As far as investment value, the market is rather stagnant, with an appreciation rate of just 2.4%. Only slightly higher than the USD inflation rate of 1.8%, real estate agents in New York City NY will have a hard time convincing anyone that this is the best place to invest one’s money. Nevertheless, the high median home price will net you larger returns in the long run.
If you’re planning to rent, you’re in for an unpleasant surprise: at $3,689 a month, rent prices in this city are steep. On the bright side, rent prices are on their way down, likely as a result of the ongoing pandemic. This means that in the coming months and years, you may be able to break into the New York City rental prices. Speak with the realtors in New York City NY today and see what’s on the market!
So. Your enthusiasm has been somewhat dampened by the state of the real estate market in New York City; but what about employment? If you’re looking for a job in New York City, how will you fare? Well, as luck would have it, things in the sphere of employment are far more attractive than that of real estate.
Employment in New York City is readily available, for both well-qualified professionals and unskilled laborers alike. What’s more, the minimum hourly wage in New York City is slated to increase in the coming years, with legislation mandating that over the course of the coming years it will eventually be raised to $15 an hour according to real estate agents in New York City NY.
If you’re a skilled, certified professional, you’ll have little difficulty finding gainful employment in your field. New York City is constantly growing and expanding, and those who work in skilled trades are in high demand. Lawyers, doctors, engineers, and real estate agents in New York City NY are in high demand, so you shouldn’t have much trouble in this regard.
According to real estate agents in New York City NY, unskilled laborers are also in high demand. While you shouldn’t expect to win a salary equal to one you’d take home in a more demanding position, you still should be able to provide for yourself, provided you’re willing to work hard and stick with your work.
If you’re looking for a home in this city, your best bet is to get in touch with the local realtors in New York City NY. These skilled knowledgeable professionals are your best chance at finding a reasonably priced and well furnished home in the city and should have you moved into a new home in no time. Local real estate agents in New York City wish you the best of luck in your NYC adventure!