To Buy or Not to Buy


We rent a two-bedroom in Park Slope for over $3,000/month. We have $120K sitting in the bank ready for a down payment and could easily make a payment of up to $4,500/month. We could afford to buy an apartment, but we are in no rush as we live comfortably now. When we do buy, we are looking for a 2 bedroom w/ outdoor space. What are your thoughts about the market – should we hold off and sit tight until the market falls further, or should we jump in now? Is there a general sense it still has up to 30% to fall?

Categories: Real Estate
By LaughterIsPeace | 03/11/2009 9:47 AM | Comment

Negotiate Lease Renewal


My husband and I are currently renting ‘technically’ in Park Slope, although it is certainly the outskirts.

We are looking to buy an apartment – but as we are pretty comfortable in our rental apartment, there is no rush.

Our lease is up May 1st and I was wondering if anyone had any experience trying to change the terms of the lease that would allow us to get out of the lease (without any penalty) if we provided 60 days notice?

We are currently in a new building with a mgmt company and are paying $3100 for a 2 bedroom (including our parking spot).

We thought at first we might try to negotiate down the rent, but we really just want to be able to jump on an apartment we like and be able to move out without being held to the lease.

Any input / advice would be greatly appreciated!

Categories: Renters
By LaughterIsPeace | 03/02/2009 3:53 PM | Comment