Owning a house is part of almost everyone’s dream. However, in some areas from New York, this idea can no longer be applied. This is because the prices are too high. A common person can afford the prices for the houses in Brooklyn, but hardly elsewhere. Even if the prices are lower than before, there are not many accessible houses left.
Less Construction of Houses in Brooklyn
The employment in the construction sector has reached its lowest level in 2011. This has happened in the first 3 months from 2011. This fact was confirmed by the New York Building Congress. Overall, the construction sector fell with 25 percent since 2008. The last time when the situation was so bad, was in 1998.
Less Property Sales in New York
The volume of completed real estate transactions fell by 27 percent in 2011. Old apartment sales fell 25 percent. The number of transactions with new apartments fell dramatically by almost 55 percent compared to 2010. However, the average price per square meter has increased by 3.5 percent. The prices per square meter are enormous for central areas. One must pay around 5 thousand dollars for one square meter. This rate does not apply for the houses in Brooklyn. The prices are far more accessible there.
Brooklyn and the other Districts
New York is divided into 5 districts, namely Manhattan, Brooklyn, Queens, Bronx and Staten Island. Of these, Manhattan is the oldest. It is the most densely populated and most highly rated of all. It is also the financial, cultural and commercial center of the United States. Brooklyn has 2.5 million inhabitants. It is the largest of the 5 suburbs of New York. The attractions of this area deserve to be explored by both locals and tourists.
Types of Houses in Brooklyn
The real estate market from New York uses a special language. Understanding of the following terms is helpful for renting and buying houses in Brooklyn. The loft apartments are found in former commercial buildings. These buildings have been converted into dwellings. They are characterized by large open spaces. This style has been praised by the customers. So, loft-style apartments were built in the rest of the city.
Pre and Post War Buildings
The pre-war buildings were built before the Second World War. These apartments are spacious. They encompass fireplaces and feature hardwood flooring and high ceilings. The ceilings are often embellished with ornaments. The post-war buildings are turn blocks with narrow rooms that house many alcoves. Most houses in Brooklyn are equipped with vent through walls.
Townhouses and Brownstones in Brooklyn
The townhouses and brownstones used to be single-family houses. Today, they are converted into apartment buildings. Most of them were built in the late nineteenth century or early twentieth century. Most have indoor gardens, fireplaces, old floors and interior trim details. They are not among the most affordable houses in Brooklyn.
Affordable Houses in Brooklyn
The buildings without elevator are among the most affordable. They are also called walk-up buildings. Usually, these are five-story buildings. These are not preferred by families. Young couples, friends or singles usually pick them. The houses in Brooklyn are not as fatuous as the ones from Manhattan. However, they are better than the ones in Bronx. The price range is also somewhere in the middle.
Overall Housing Situation
There are numerous houses in Brooklyn for rent or sale. However, one needs patience and time to find the proper options. This district of New York is quite large. So, scouting is an important part of the search.