Chapter #4 – Why I choose to buy in Brooklyn
To be honest, once I made the choice to get rid of our apartment for rent in Brooklyn and buy instead, it was a no-brainer that I’d choose to stay in this area. I mean, I know it’s not really the epicenter of the universe, but it might as well be – what isn’t available in Brooklyn?
Let’s break it down a bit…
Location-wise, Brooklyn real estate is hard to beat. Think about it. You have incredibly distinct neighborhoods (think Boerum Hill, Greenpoint, Bushwick, Cobble Hill, Williamsburg and Brooklyn Heights), and public transport is second to none. Ferries, the L train, taxi cabs, citibikes and extensive subway lines! Depending on where you are, you can be in Manhattan in half an hour, you can visit other lively Brooklyn neighborhoods, or you can enjoy all the amenities on your doorstep.
Do you need me to continue? OK then…
Animal lovers and fitness fanatics get plenty of green space and Brooklyn boast some of the best eateries (Noodle pudding! Meadowsweet!), music venues (Brooklyn Bazaar!) and nightlife. Then there’s the amazing views and access to plenty of culture and history too.
Architecture is also diverse, as is the size (and price) of space that you’re looking to buy; tree-lined blocks of mansions, one-bed units, loft conversions, high-rise waterfront condos, residential warehouses – it’s all possible.
And another important thing to consider is, you’re pretty much guaranteed great neighbors – Brooklyn is a mix of parents seeking good schools, arty types, first-time buyers, young professionals, creatives, and people downsizing after their kids have left home. Wherever you choose in Brooklyn there’s a vibrant, village-feel, and yet every convenience on your doorstep.
There’s a magic in the air here that for me, can’t be beaten – and it’s budget friendly too – even the top-end properties show up Manhattan prices as inflated. I guess what I’m saying is, what’s not to love?
Of course, there were a few things that tipped me over the edge (and not just the dodgy electrics)… For instance, the Bloomberg interactive map was pretty eye-opening. It presented in pictorial form what we’d always suspected: that if we chose to buy a home, our money would work much harder for us in Brooklyn. Predictions showed that the money spent on rental would pay off much more quickly than we’d expected.
And even if we outgrow Brooklyn and want to leave, there’s always real estate investing to fall back on. It’s a fact that even during down markets, property value in Brooklyn real estate doesn’t really drop, it simply levels off and then rises once things have picked up. So, we might decide to leave, but there’d be someone looking for condos for rent in Brooklyn.
So, what are you looking for in your neighborhood? Are you looking for somewhere to live or for or property for investment? And how much is that affecting your choice of Brooklyn apartments for sale?