Looking for a home? The adventure of finding a home from your dreams can be both exciting and stressful. In part because you have to measure a lot of things before you move to that new home. But, before you get out your tape measure, you need to find the right location. Have you considered buying a home in Clinton Hill? If not, you should! In this article, we will give you some of the reasons why your dream home may just be located in Clinton Hill, Brooklyn. So, let’s see what this neighborhood has to offer.
The perks of having a home in Clinton Hill
Before we begin, we must go over the basics – what are the specifics about this particular neighborhood that make it so special. Well, first of all, it is ranked in the top 20 NYC neighborhoods. That means that it is ranked in the top 10% out of all the New York City neighborhoods. And for good reason. It has:
- Excellent schools
- Low crime rates
- High diversity
- Great nightlife
- Awesome job opportunities
- Great environment for families
One additional thing that might be important to you, it has excellent moving services. Most of them offer quick, simple, and affordable Clinton Hill storage solutions. To be honest, extra space is always a good thing, especially if you have a lot of stuff you don’t need. Right? Right, let’s move on.
Think about a price
No, really. Think about a price. Believe it or not, a home in Clinton Hill doesn’t have to break your bank. According to the latest price listings, the average price range is from $320k to $920k for a standard home. Of course, there are homes priced at $2+ million. But, it’s a fair bet that your dream house doesn’t have to cost that much. Moreover, you can find great homes at the $500k mark.
So, if budget is your concern, there are plenty of options available. What’s even more interesting is that once you got the price right, you can focus on the list of things you need to set up a home office. This was, and to some degree still is, very relevant when you take into account the COVID-19 pandemic and the lockdown. Try and be smart with your money. More expensive is not always better. Just look at caviar – it’s one of the most expensive meals on the planet and still tastes worse than a McDonalds’ meal. So, be wise and look for the home that will best serve your needs.
When looking for a home in Clinton Hill, consider the price-to-rent ratio
Of course, if you are reading this, chances are that you already decided to buy a home. But, it doesn’t hurt to think twice if this is the right idea. Have you ever heard of the price-to-rent ratio? If you haven’t, let us explain it real quick. The PtR ratio is a very useful tool to determine the feasibility of buying a home vs. renting a home. You get the ratio by dividing the price of the home by your annual rent. The number you get is the number of years it would take you to pay off the mortgage.
So, in the case of Clinton Hill, the median home price is ranked at around $1 million. Meanwhile, the median rent is around $1.8k. If you do the math it becomes clear that if your monthly mortgage payment won’t pay off your home in more than 45 years. In the context of the PtR ratio, this is very bad. The ideal number is up to 20 years and in this case, the number is more than double. So, one could argue that buying is a bad idea, given the numbers. But, this is not exactly the case. You could up your mortgage pay regime. Since the median household income is $90k, having a monthly payment of $4k, shouldn’t be too much of a problem.
In these hypothetical circumstances, it would take you 21 years to pay off your mortgage. Now, that is much better than the last example. But, the decision is up to you. After all, it’s your money!
Keep in mind that a home in Clinton Hill isn’t set in stone when it comes to home improvement
Remember, we talked about measurements! So, the point is that the home doesn’t have to look perfect. It just needs to have the potential for your personal touch. If that is the case, you should visit usantini.com to get some details and arrange a move. Once you moved safely, you can start the process of settling in.
One of the aspects of settling in, that most people forget, is home improvement. So, as we mentioned, your home might not be just as you envision it. But, that is not a problem. You can DIY most of the home improvements. Alternatively, hire professionals to do the job for you. Just make sure that you told them every single detail you want. Afterward, leave them to work while you get to know this lovely neighborhood.
Relocating to New York may seem tough. Especially if you are going on a long-distance move. But, if you think about it, the opportunities you will have here, far outweigh any discomfort you might experience because of the move. What’s even more important is the fact that you can choose between 5 boroughs and close to 300 neighborhoods.
And if you decide to get a home in Clinton Hill, we respect and encourage that. Not only will you be happy in this part of Brooklyn, but you will also have to chance to get the home of your dreams. Consequently, you will be one of the few people who were actually able to fulfill their dreams about a future home. Pat yourself on the back, what you’ve done is awesome! Just keep in mind that, if you’re looking for a home, you need to calculate out every single thing before you make a move. You need to be very careful not to do something foolish and later regret it. Good luck, stay safe, and have fun house-hunting!