Process of buying an NYC apartment as a non-resident explained

Whether you’re new in the city or lived here for quite a while, the process of buying an apartment is similar. When it comes to choosing the perfect place for your needs, you really have to shake your head. However, buying an NYC apartment as a non-resident is not hard. All you need to do is get your documentation ready and have your patience on standby. All in all, if you want to hear and learn more about this process, be sure to stick around.

Life in NYC

First of all, if you have a chance to live in NYC, you’re a lucky person. There are so many things you can do there. No wonder it’s called a city that never sleeps. Therefore, there are plenty of places in NYC every newcomer should visit the moment they set foot there. Anyway, life in New York has plenty of things to offer. If you recently moved there, you must have already started looking for a job. What’s so good about New York City is the ability to find a job very quickly. Regardless of whether you’re experienced or not, you can always find something to do there.

Couple wearing masks on the street.
There is nothing better as starting over fresh. Make sure you seize your NYC opportunity wisely.

Here are just some of the things that make The Big Apple a bite anyone can chew on:

  • Ocean of opportunity – The moment you get to New York you’ll see how busy everyone around you is. That’s because everyone is chasing their dream. Hence, even if you get to NYC broke and hopeless, your luck is about to change.
  • The safety is on an envious level – When it comes to the city’s safety, no one does it like New Yorkers. They really do their best to secure themselves from inconveniences and try hard to focus on the bright side.
  • Diversity is like no other – There is not a single place in all of the US that’s got the level of diversity that NYC has. Many people from all around the world settle in New York. That’s because it’s, as previously mentioned, a land of opportunity.
  • Plenty of activities to take on – When it comes to the NYC scene, you can never escape it. You will constantly be surrounded by various things you could do all the time.
  • A perfect mixture of nature and architecture – Well, we can agree that no one does it better than New York City. It has many parks and beautiful natural landscapes that will be the perfect getaway from everyday busy life.

How to look for an NYC apartment as a non-resident?

To begin with, you can easily find an apartment in NYC as a non-resident. However, it would be good to prepare for that step a bit earlier. When it comes to finding an apartment, good time management and organization are everything. Henceforth, here’s what you should arm yourself with when looking for a place:

  1. The budget – A constituent part of every apartment-finding process is the right budget. You should set one as soon as you can and estimate how much money you can spend on one. Also, make sure you don’t go over it since that rarely pays off.
  2. Research the neighborhoods – As local movers from State to State Move told us, whether you’ve lived there your whole life or just recently moved to NYC, it’s important to know the borough you’ll potentially live in. Scout the area and inform well.
  3. Consider hiring professional help – This refers to a reputable moving company whose only concern is relocating all your things to the right location in time. Such a company will gladly take that burden off your back.
  4. Have all the paperwork ready – What you’ll need is a good credit score, employment evidence, and probably two years of the tax return.
NYC at sunset
Remember that the same rules apply to non-residents as well as local residents when it comes to costs of buying the apartment.

Process of buying an NYC apartment as a non-resident

To start with, NYC is probably the best city in the world for ex-pats, without a doubt. As already said, you get tons of opportunities just by relocating there. Hence, when it comes to living in New York City you’re in for a good ride. Moreover, you could call yourself lucky if you get to the point of buying an NYC apartment as a non-resident. There is no doubt about that. In that case, you should learn some things before you actually cash in and grab your apartment keys.

What’s good about NYC is that when you’re buying the apartment, the same costs apply to both foreign and domestic residents. However, you still need to pay attention to some details that affect you as a newbie in NYC. Here are the prime examples:

  • Ownership deal – You can buy an apartment under your own name or your company’s. There are some specific circumstances under which this occurs. For instance, there could be a mortgage included, a tax treaty between the US and the foreigner’s country, etc.
  • Types of property you can buy – A condominium is a type of apartment recommended for non-residents that already live in the US. However, if a long-distance move is ahead of you and you need movers, you can easily change the address and settle affordably in a condo.
  • Costs including property – There is no difference between residents and foreigners. The only differences apply to the additional reconstruction or renovation should you decide to do that.
Man buying an NYC apartment as a non-resident standing in a hallway.
If you’re ready to start over fresh, make sure you arm yourself with self-esteem and positivity.

Settling in

Now that you finally learned what buying an NYC apartment as a non-resident looks like, it’s time to focus on some other things. For example, you should look into a guide to ex-pat community in NYC if you haven’t already. It is very useful especially when you’re looking to buy a place there. Then, after you bought an apartment, you could consider renovating or reconstructing. Of course, you don’t have to do it instantly. All in all, it’s pretty nice having something of your own in one of the biggest metropolises in the world. This especially goes if you were a non-resident up until recently. Good luck with the apartment hunting!