Reality on Realty

We all make mistakes.

I simply forgot the three things that could turn my die-hard renting self into a motivated buyer:

1) No closing costs.
2) Local 25 year tax abatements.
3) Defeated developers making fire-sales.
4) $8k tax credit for first-time buyers this year.

When you put these three things together, my hypothetical mortgage and fee payment looks a lot more like my monthly rent. In other words, it’s finally happening — you know it’s the bottom when buying makes sense again.

Rapidly gentrifying, YUPPIE misgivings aside, I am completely enthralled by a particular new development. Right in the center of my favorite neighborhood in Brooklyn (not for the faint of heart, by the way) and 3 blocks from a superior subway line, the local amenities make it a no-brainer. After putting in an honest effort to find anything structurally wrong with the place, I’ve found myself defeated. Defeated in my stubbornness not not to buy a place while the getting’s good.