You have decided to buy a house for the first time in NYC, and the first step s to choose the right location. Brooklyn is a beautiful borough of NYC, with many homes you can choose from. What are Brooklyn and its finest locations for first-time home buyers and what should you know before making the final call? If you like Brooklyn and what to live there for good, buying may be one of the options. But, before that, you need to consider all the factors. Of course, choosing a neighborhood in Brooklyn to move to is the first thing, but not the only one.

Brooklyn real estate trends

Explore the real estate market when buying a house for the first time. Set your budget and know how much money you can spend on purchasing a home here. Talk to the bank about loans. Here is some information about Brooklyn’s real estate you should know about. Of curse, you will hire a local real estate agent, but it won’t hurt to explore by yourself a little bit more.

• The median home value is $900,000, but it all depends on part of the neighborhood. This is why you need to explore Brooklyn and its finest locations for first-time homebuyers first and then to decide.
• The number of homes and apartments here in Brooklyn is around 951,000.
• Most of the homes (26,7%) are listed for the price between $636,000 and $955,000, 17,6% are between $956,000 and $1,271,000 and 24% are higher than $1,271,000.
• If you want to rent your apartment to tenants, the median rent per month is $2,175.
• Most of the residents in Brooklyn are renters, more than 70% of residents. But, rents dropped 6.2% year over year.
• 51,2% which is the majority of homes, were built between 1939 or even before that. Brooklyn has a long history and that is why most of the homes are old.
• Apartment complexes are the most common type in this part of NYC.
• Since the pandemic in 2020, Brooklyn is a hot spot for home buyers and it will be the hottest market for New York in 2021 and after.

Research real estate market in Brooklyn

Brooklyn and its finest locations for first-time homebuyers

Some of the neighborhoods in Brooklyn are better for buying a home than the others. Of course, it is up to you where you want to buy it, depending on your lifestyle, office, if you have kids you will look for a place with good schools around and parks where they can play, etc. Here are some best neighborhoods to consider when it comes to home buying.

Choose the right location in Brooklyn where to buy a home

Bay Ridge

More than 40% of residents here own a home, which is a good sign. Not so many people own a home in NYC, but this neighborhood is affordable (compared to other places near). The average home price is $780,000 and homes are bigger. Streets are wide, it has a lot of parks, as well as many bars, restaurants, coffee shops, etc.

Boerum Hill

If you have kids, this may be one of the places to consider. The median home value is $1,400,000 but, Manhattan is near which is one of the advantages. For moving here, locals can help you settle in nicely because they already know this area. When exploring Brooklyn and its finest locations for first-time home buyers, you cannot miss this place. 

Flatbush

If you want to start a family or want a home office, explore homes in Flatbush. Also, this is one of the most affordable options on this list with the median home value of $540,000, but prices are going up every year. It offers apartment complexes, Victorians, brownstones, and row houses as well.

Bushwick

Bushwick is a great place to buy a home because if you want, you can easily rent it. The median home price here is around $750,000 and the neighborhood offers residents a dense urban feel. Simply said, it is the hipster enclave of Brooklyn with an amazing nightlife which makes it one of the best places here for young professionals. Apartments are small, and it may be a problem, but you can always rent extra space for your possessions.

Kensington

A lot of families with kids and young professionals are moving here, to Kensington. It is a very diverse place, but it does not have parks. On the other hand, Prospect Park is very close, so you will have a nice and green place near.

Brooklyn Heights

One of the most popular neighborhoods in Brooklyn. The location is great (Brooklyn Bridge is here) and you will need 10 minutes to Manhattan. This is why the median home price here is $1,500,000. It has lovely architecture, tree-lined streets and parks and of course, a great view that will take your breath away.

Packing and moving your items to a new home in Brooklyn

After choosing where to move and after finding a perfect home for you, it is time to prepare for an upcoming relocation. The first step here is to pack your furniture, clothing, documents, and other personal items. Prepare your stuff in a proper way and it won’t get damaged during the transportation to a new home in Brooklyn, NYC.

Also, explore this borough and try to adjust fast after settling. Find your new favorite restaurant, visit amenities, get around the city, there are many reasons why you should live in Brooklyn and one of those things is its beauty and plenty of this Brooklyn has to offer.

If you have saved enough money for the first house, prepare for relocation too

Summary

After buying your first home in Brooklyn it is time to furnish it and to add your personal touch. Make a small paradise from your home and a place where you can enjoy and relax after work. Researching Brooklyn and its finest locations for first-time homebuyers may be fun, but at the same time exhausting, it’ll you find your dream house. But, be prepared to make some compromises because housing here is not the most affordable.