Want to Own a Brownstone Home? Read This First

Brownstone Homes

The iconic brownstone homes lining the picturesque and quaint tree-lined blocks throughout Brooklyn, the Lower East Side, Manhattan, and Harlem are in high demand among those that have an appreciation for beauty, craftsmanship, and history.

For those that dwell in or have a desire to live in New York, the brownstone townhouse is truly observed as a beneficial investment that evokes feelings of prestige and luxury.

Do you have a desire to purchase a brownstone? If so, you should know a few things before committing to the investment.

An Immense Investment That Starts with a High Level of Expense

While the brownstone townhouses situated throughout New York display the highest level of magnificence in design, craftsmanship, and quality, these structures often start with a high level of expense.

Generally speaking, just to purchase such a building will usually require an initial investment that exceeds $1 million.

Additionally, chances are, many renovations will have to be performed in order to bring the building up to codes and make it a suitable dwelling for living.

Furthermore, you will have to perform regular maintenance on the building, pay property taxes, homeowner’s association dues, and insurance.

While it is a bit overwhelming to consider, the good news is, investing in a brownstone is a sound investment that offers many future opportunities to obtain massive profits.

It Is Your Responsibility

Once you obtain ownership over a brownstone, you will get to “make the rules”, so to speak. While privacy and the fact that you will experience autonomy is highly beneficial, the downside is, whatever happens with, in, or around the structure is your responsibility.

You will need to ensure that regular maintenance is performed on the building to keep it up, you will have to handle any type of emergencies that occur, and you will have to have the financial means to handle anything that happens.

The good news is, insurance rates on brownstones are relatively low. By signing up for this type of coverage, you have the ability to offset a lot of the financial responsibilities that come from owning this type of structure.

Structural Integrity

Brownstone is a type of building material that is considered to be heavily porous and exceptionally soft. As a result of this fact, erosion, decay, and other issues are quick to arise.

You must place a special focus on the structural integrity of your new home. This means investing in a façade renovation. Now, this is very costly, but once performed, your new brownstone home will have the strength that it needs to prevail, over time.

The downside is, when you have this done, you must stick to the guidelines as outlined by the Landmarks Preservation Commission. These are put into place to ensure that the structure is strong and that the historical elements of the building are properly preserved.

We Can Help

If you are purchasing a brownstone, it is best to sign up for one of the many brownstone programs currently in place.

Not only will these help offset many expenses, they will add to the overall integrity of the structure. For more information, you may contact us today by calling: 718-855-1836

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