Residential real estate can be a profitable investment in New York City. The presence of numerous major companies in the city, combined with a large population of high-income professionals, helps ensure a stable real estate market. Foreign investors have also done a lot to keep values high. These factors have helped make New York one of the first real estate markets to recover from the Great Recession a few years ago.
Whether it's an apartment, condo or townhouse, buying a home in New York City is a significant investment. Once you have found a potential home and made an offer, the seller will typically send you their proposed contract. Before signing, it's critical to make sure it includes some key provisions that will protect your interests.