What You Need To Know Before Buying A Manhattan Townhome
There’s a new trend in Manhattan real estate. Buyers are taking advantage of people moving out of the city and low interest rates to purchase a Manhattan home with more living and working space, plus more privacy. In the last quarter, the market share for sales of four-bedroom properties in Manhattan nearly doubled to around 8 percent, compared to the same period in 2019.
Many of these buyers are used to having home maintenance included. Buying a townhouse, brownstone or co-op brings on a new set of responsibilities and stress. My company, Top Hat Home Services, has spent years maintaining, caring, and repairing Manhattan homes. We also work with realtors to get their properties into the best shape for a new buyer. Along the way we’ve gathered helpful tips regarding what you should look for before and after you buy a Manhattan property.
HOW USER FRIENDLY IS THE PROPERTY?
When you buy a house you will get an engineer’s report. This report lists the observable issues that should be taken care of before closing. What it often doesn’t tell you is how user-friendly a house is and what it takes to maintain the home going forward.
Whether you are buying a newly renovated house or a lived-in property, think about how you will use the home. Once you determine its use, don’t make changes (except major ones) until you have lived in the house. You will find that your ideas of what is important to you will change over time.
BEFORE YOU MOVE IN
Some things are best to do prior to unpacking the boxes. We recommend that you talk to a home care professional about what systems need to be maintained, inspected and the paperwork that needs to be filed with the city. This can save a lot of headaches and costs down the road.
Another insider tip is to ask if the light bulbs have been converted to LED’s. LED lights save money monthly. If they haven’t been converted, you might need to have significant electric work done in order to allow the LED’s to work.
BEAUTY VS. FUNCTION
When it comes to maintenance, make sure that all HVAC units, electrical panels, and lighting is easily accessible. This is important so that the filters can be easily changed or electrical / lighting panels repaired if needed. It’s amazing how many times these units are buried behind custom wall units due to cosmetics. It might look nice, but it makes access very difficult and expensive if not set up properly.
ACCESS THE INSURANCE POLICIES
Understand the insurance policies of any contractors coming into your house. Just because a company has insurance, doesn’t mean that the insurance covers what they are doing. Talk to your insurance broker or your home management company before any work is done.
DECIPHERING NYC CODES
If this is your first home, this is the first time it’s your responsibility to understand the often complex NYC codes. Top Hat has a team whose sole focus is to follow code changes. If the necessary paperwork isn’t filed, you could be subject to a fine.
INSPECTIONS & OBLIGATIONS
You’ll also want to understand which devices or equipment in your new home needs to be inspected for safety or city requirements. Some of these systems include elevators, backflow devices and internal water sprinkler systems.
Also, as a Manhattan homeowner, you are now responsible for keeping your sidewalk clean and in good condition. Cracks and raised areas on the sidewalk (tripping hazards) are your responsibility. If these areas are not taken care of, you could be subject to city fines. There is such a thing as a street super to help keep the sidewalk clean, but many of those companies charge extra for snow shoveling.
Leaving garbage out overnight is not only unsightly, but also can lead to a fine. The Department of Sanitation loves to ticket homes with garbage on their sidewalk, even if it is not yours.
WHERE’S THE SUPER?
When you rent and something breaks down, who do you call? The super! When you own, a home, you are responsible for all appliances, sinks, toilets, and drains. Many homeowners use a company like Top Hat to take care of everything the super used to take care of. The benefit of using a property management company is that it’s one phone call for a team of experts, instead of trying to find a reliable and affordable professional.
Preventative measures include frequent checks that all drains are clear. Not only is it a hassle to deal with a backup, but if left too long, it could lead to significant and costly water damage. Many new homeowners are not aware of something called a sump pump. Most houses have this device that allows excess water from the ground or from a leak to drain out of your property so there is no damage. Making sure that it is in working order can prevent significant damage.
HAVE AN EMERGENCY PLAN
You’ve heard that nothing good happens at 2 a.m. Well, this is accurate when it comes to homeownership. It is close to impossible to get a company to come in the middle of the night unless it is a major emergency and probably an insurance claim. When you work with a Home Services company, 24/7 emergency home services are usually part of the plan.
A BABYSITTER FOR YOUR HOME
Over the last year, many New Yorkers have spent an extended period of time away from their primary home. We work with some of the best security and alarm companies to ensure that the home is safe, whether you’re home or away. Before you move in, we recommend putting systems in place to monitor your home. This includes not only security systems, but water monitors. We also check on our client’s homes regularly so the mail doesn’t pile up or otherwise look deserted, making it an easy target.
Let’s say the alarm does go off when you’re away. Have a plan in place. You can ask a friend or a neighbor to act on your behalf, but there’s no greater peace of mind than having a professional who will be there to deal with the situation. We’ve been called in when it turned out to be something minor, like a bird flying into the window. But we’ve also been on hand when there’s a burst pipe or a leak. By having a professional on-site immediately, it saves serious damage, plus reduces your cost of repair.
SEASONS OF THE SUN
Finally, have a plan of seasonal items that need to be done before the season starts. Some of these items include window washing, turning on and off water seasonally, and changing the smoke detector batteries. Since the pandemic, there are less service providers in NYC. Getting an appointment can be a challenge, not to mention the premium you will pay. Working with a property management company provides economies of scale and a team of experts.
We hope this doesn’t scare you away from homeownership. The benefits of owning a Manhattan home far outweigh the negatives, especially when you have the right support network.
Gary Mindlin is co-founder and owner of Top Hat Home Services, a full-service property care and management company. Top Hat services homes in Manhattan and are known as experts in every aspect of building management, maintenance and repair, as well as renovation and construction supervision.