Q:

How do you buy or rent a condo in Brooklyn?

A:

Quick Answer

To buy a condominium in Brooklyn, New York, contact a real estate broker, view condos and negotiate a purchase contract. To rent a condo in Brooklyn, start doing research in advance, get paperwork together, set a budget, browse listings, view apartments and visit the neighborhood in advance, as recommended by Time Out magazine.

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Full Answer

As of 2014, the condo-buying market heated up significantly, as reported by the New York Post. Purchase prices have risen and more developers are offering condos for sale instead of for rent. Because the market can be competitive, it is a good idea to work with a real estate broker to help find available units and negotiate purchase contracts.

To rent a condo in Brooklyn, run through the following steps.

  1. Start preparing well in advance
  2. Start researching options three months before the planned moving date. Set a budget for the rental price, get paperwork such as employment letters, references and tax returns in order and arrange for guarantors.

  3. Choose a location
  4. There are many different neighborhoods in Brooklyn to choose from. Choosing a specific location helps narrow down the search and can make finding deals easier.

  5. Browse listings
  6. Browse listings on a variety of different websites. Popular websites that list no-fee apartments include NY Bits.com, Craigslist.org, RentHop.com, Naked Apartments.com and StreetEasy.com.

  7. View apartments
  8. Always view apartments in person, especially if classified listings are involved. Although there are plenty of valid listings on classified website, there are also plenty of scams. Many landlords only show rentals during business hours, so taking time off work for viewings may be necessary.

  9. Scout out the neighborhood
  10. Before committing to an apartment, visit the neighborhood during different times of the day. Streets and street noise can change significantly between day and night, so making several visits can help get a good overview of the neighborhood.

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