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New York areas where buying a home is cheaper than renting

Фото: Depositphotos

Buying a home in New York is a daunting task that requires luck finding good deals on the market and having the finance to make the purchase. You also need to choose an area where it is profitable to buy a house, because in most cases, renting a home in New York is much more profitable than purchasing.

Edition NY Curbed collected a list of areas of New York, where buying a home is more profitable than renting.

Evaluation of the profitability of home buying was carried out according to several criteria: the calculation of return on investment (ROI), the cost after repair (ARV), the growth in demand for real estate in the area over the past year, and the average price of housing in this part of New York.

The most profitable area of ​​New York for real estate purchase was Richmond Hill in Queens. It will provide buyers with a maximum return on investment of 12%. Richmond Hill also has a modest average home price of $ 542.

The top five also included Bed Pack, Ocean Hill, Longwood and Fletbush.

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