The Bronx is bustling . Often overlooked for more trendy neighborhoods, the Bronx has maintained its bargain-pricing through the real estate bubble and burst. With millennials flocking to this NYC enclave for more affordable housing options , the Bronx is going through some massive changes, and we’re betting that we’ll be seeing more over the next few years.
With investment sales up in the Bronx, even while they have been falling in Brooklyn and Manhattan, the Bronx is poised to become New York City’s most coveted borough. Where Brooklyn has started to price many people out of the real estate market, the Bronx still remains accessible, and for that reason, we anticipate that there will be a lot of deals taking place in the backyard of Yankee Stadium.
The Bronx has been overlooked for many years, while investors and potential homebuyers focused on Manhattan and then Brooklyn. But with more exciting restaurants popping up in the Bronx to lure visitors, we expect that the buying trend will continue in the Bronx through 2017 and into 2018. The southwest section of the Bronx is where most of the real estate transactions are taking place these days, with the northwest section of the Bronx coming in second place. Still, the focus of buyers has been multi families , which makes sense for an investor or a first-time homebuyer. A multi-family in the Bronx would give a first-time home buyer greater flexibility in the purchase price since a percentage of the rent collected can be applied to their income when applying for a mortgage. As the Bronx becoming a destination for many and with interest rates still low, now is a great time to consider buying a home or investment before prices skyrocket. Unlike Brooklyn that is being disrupted by train repairs, the Bronx is well serviced by the NYC subway. With easy access into Manhattan, it is a wonderful area of New York City to live. Sections of the Bronx even offer enticing free-standing homes with lawns and driveways which give owners more room and space. Trees line many sidewalks, which makes the Bronx a lovely neighborhood to call home. With the summer being the peak real estate market in New York City, now is the best time to check out what the Bronx has to offer. If you are thinking of
buying or renting to get to know the neighborhood better, we would love to be your partners in helping you to find just the right spot in the Bronx.
At Oxford, our agents take the time to cultivate themselves into neighborhood experts, and we use proprietary software to match agents with clients for the best fit possible. We know that finding a home or investment in New York City can be an overwhelming process, so we make it as easy as possible.
Whether you’re looking to add to your investment portfolio or want a great apartment while you get to know the Bronx better, our agents at Oxford are ready to help you find your home in New York City. Give us a call today -- we’ll help you find your home tomorrow.