Encouraging Homeownership In New York City

New York is a vibrant and diverse city, which has historically seen its real estate values increase over time. The federal government encourages homeownership throughout the city. First-time homebuyers especially have been singled out for preferential incentives created by the government and passed along to the purchasers by local lenders.

Because of the unique real estate issues that new homebuyers can face, it is important to seek the guidance of an experienced attorney when considering purchasing a home. At The Law Offices of George Russo & Associates, we provide skilled counsel and advice to first-time New York City homebuyers.

Benefits Of Purchasing A Home In New York City

In addition to tax incentives, there are many benefits to purchasing a home in Manhattan for the first time, including:

  • Lower down payments
  • An easing of the lending criteria
  • Building equity
  • Tax deductions for mortgage interest
  • Exercising true ownership

The current housing stock offers a multitude of choices for those seeking to purchase real estate within the city's boroughs. Single and multifamily residential homes, as well as co-ops and condos, are in demand in most New York City neighborhoods.

In a city where renting is extremely common, purchasing a home can feel like a daunting commitment. However, for those with a steady income and a few dollars saved, buying a home can have many perks and give you a level of independence unachievable from renting on someone else's premises.

25 Years Of Experience In Real Estate Transactions

Any purchase of a home is a big decision, requiring careful consideration of both the benefits and drawbacks involved. New York City has its own unique rules and regulations when it comes to purchasing property, adding another level of complexity to the process.

Our lawyers have decades of experience in representing purchasers of real estate property in Brooklyn, Queens, Bronx, Manhattan and Western Nassau. We can advise on contract negotiations, title issues, closing costs, when to purchase and other areas concerning real estate in a populated metropolitan area.

Obtain The Counsel Of A Skilled Legal Team

It is important to seek the guidance of an experienced real estate attorney when considering the purchase of any type of real estate in New York City. Our legal team in Queens is prepared to help. Schedule a free consultation with us by calling 917-740-6964 or by emailing us through our online form.