First World Problems: How The Millennial Generation Can Buy A Home

One of the most prominent issues the millennial generation has is that they are unable to afford a home. The vast majority have resigned themselves to the fact that they will be renting for their entire lives. But, short of them inheriting a property, is it feasible for them to buy a home without it crippling them financially? So, if this is you, what can you do?

Having A Good Relationship With A Lender

Having a good lender or realtor will give you a bit more sway, and you will understand a bit more about what is available out there. In addition to this, you will understand more about the best ways to get assistance with a down payment. If you have no idea how to gain control of your finances, then it's time to get a bit more knowledge under your cap. There is no point in pretending you know everything- go to advisers or professional advice.

Start As Early As Possible

Putting away savings as soon as possible is the one way to get onto the property ladder, regardless of your age. Choosing your investment avenues wisely, again, with the help of professional advice, will help you to take advantage of what is out there. Even with something like net lease properties, there is still a considerable cost upfront, if you go down the buy to let method of acquiring a home, where you pay the mortgage yourself, but rent it out to a tenant, it could be a bit of a struggle at the outset, but with long-term gain.

Get Prequalified For Financing

If you are one of those lucky people that can pay in cash, it's best for you to get pre-qualified for a loan before you start looking for a home. It doesn't take long, and you can do it over the phone, or online with the lender you want to go with. They take into account your credit history, as well as your current financial situation, and can give you the amount that you qualify for.

Strike While The Iron Is Hot

Keeping an eye on mortgage rates is a practice that you should get into, because while houses may seem expensive at the moment, if you wait any longer, the interest rates could go further up. If you are saving up enough money, it's important for you to keep an eye on how the mortgage interest rates are looking, especially in relation to current political climate. For example, Britain leaving the EU could cause a dip in housing costs, and banks are still keen on lending currently.

The millennial generation doesn’t have it easy as far as the financial climate is concerned. With rising prices all around, but the salaries not meeting them, the fundamental cost in life, such as mortgages, appear to be non-existent. But, this decline in young property owners means that the millennials need to be more knowledgeable about what they're entering into. It is certainly possible for the millennial generation to buy a home, but there's a lot more to consider now than 10 or 20 years ago.

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Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

Inside The Manhattan View at MiMA Tower Residences

In popular demand The Manhattan View at MiMA Tower Residences is one of the few crown jewels of the building.

Penthouse 3C is a stunning four bedroom residence of 2,135 square feet with ceilings up to 8’11’’. You will be amazed by the dramatic south and east panoramic river and city views displaying the Hudson River, Hudson Bay, One World Trade Center, Empire State Building, and beyond.

Apartments designed by Architectual Digest Top 100 Jamie Drake feature oak floors, floor to ceiling windows, open kitchens equipped with the latest Gaggenau appliances, white lacquer cabinetry, waterfall-edge Calacatta marble counter tops and backsplash, stainless steel under mounted sink with waste disposal, Jamie Drake designed Dornbracht fixtures, as well as your very own Bosch Washer and Dryer. Every residence also comes with smart- home technology which enables you to control the environment at home from anywhere in the world.

The Unit comes as a Smart Home with control of the stereo, TV, and lights all from an app on your smartphone. The in-wall IPad connects you with the Doorperson and our very own in-house Luxury Attache who will organize everything from travel arrangements to dinner plans. In addition to a 24-hour doorperson and live-in superintendent, a dedicated concierge is available to assist with every personal need along with white glove à la carte services including valet parking, housekeeping and dry-cleaning. Some of the perks of living in the MiMA Development, consist of a residents-only fitness center by Equinox® with a heated indoor lap pool, training studio, a full-size basketball court; three lushly landscaped outdoor terraces with private dining pods and barbecue facilities encompassing over 14,000 square feet of outdoor space; party rooms and catering kitchens; a golf simulator and karaoke room; outdoor and indoor screening rooms; and a Mac Bar equipped with iMac computers.

There is also a club room and residents’ lounge with a cozy island fireplace, a fully- equipped game room with billiards and card tables and electronic gaming, a bicycle room, resident storage, a children’s playroom, and Dog City, an exclusive residents-only, professionally-staffed pet spa with dynamic play areas offers grooming and training facilities, in-home feeding, walking services, scheduled play dates, and much more.

Ryan Serhant and Chester Yow of Nest Seekers International are working with the Manhattan View sales team on these listings, presented By SCG America and Kuafu Properties.

For further information click here

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Sold: Water Front Views Only An Hour Away

UPDATE: This listing has been sold for $12.75M While celebrities, sport stars, and international buyers were circling the property, the buyer was ultimately local and purchased under an LLC. The buyer was represented by Ellen Stern from Julia B. Fee Sotheby’s.

Looking to wake up during the weekend with an ocean view and not have to deal with the headache of the Hampton commute? Only an Hour away in Rye, this 6 Bedroom, 6 and a half bathroom home that sits on 4 acres is now listed for $15,250,000. Located at 408 Grace Church Street, this home offers all the amenities one would need from in door pool, to the outdoor pool and a private peninsula that docks, not one but 2 boats.

Wake up to a stunning sunrise and morning swim in your pool overlooking the Sound. Play tennis on your court nestled by the sea to top off a perfect morning. Dock your boat on your own private peninsula. This extraordinary home is perfect for entertaining, 12- and 14-foot ceilings throughout, unparalleled attention to detail.

Designed by architects Shope, Reno and Wharton, offering waterfront views from almost every room. Enter into the living room featuring a fireplace with a 300-year old imported marble fireplace surround. The formal dining room includes a 22-foot long glass-wall looking into the temperature controlled wine room. Double-height cherry wood paneling in family room and a wall of windows is breathtaking. Imported Honduran mahogany lines the study. The lower level includes indoor pool, fitness room, additional family room and more. This haven is more than just a weekend residence. Ready to move in?

Update: This listing has been reduced to $14,990,000

 Stacey Oestreich & Nancy Strong,  at Douglas Elliman are the listing agents.

This listing courtesy of Douglas Elliman

Inside 70 Vestry, Related's Record-Breaking Boutique Condo

The luxury Tribeca building 70 Vestry has recently unveiled their newest luxury listing that's a collaboration between Related Companies, Robert AM Stern and AD100 designer Daniel Romauldez.

The building has made headlines first for selling more residences above $10 million than any other Downtown condominium in 2016, then for the sale of a $50 million triplex penthouse, and then we heard that Tom Brady and Gisele Bündchen purchased back in 2016 before upgrading to another floor last April .

70 Vestry has just unveiled the first look at residence 4F which is among a small handful of remaining units at this riverfront gem. Listed at $8,495,00, is a three bedroom, three and a half bath home with a large great room and a windowed eat-in kitchen with custom oak cabinetry designed Daniel Romauldez.

Scroll below to see more photos of 70 Vestry 4F

The unit  totals 2,445 square feet, and boasts quintessential Tribeca and courtyard views. The home's master bedroom has two walk-in closets, and all bedrooms have en-suite baths. Lucky owners will also enjoy a double washer/dryer and a spacious entry foyer.

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Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

Favorite Listing: River Views and Outdoor Space In Battery Park City

Our favorite listing this week is a 2 Bedroom, 2 bathroom, river views and outdoor space located at 333 Rector Place

All rooms of this corner unit have northern views of downtown Manhattan, including the Freedom Tower. The living and dining room as well as the 66 sq ft outdoor terrace have Hudson River views. Upon entering this 1341 sq ft, corner unit, the long entry hallway leads to the open concept over-sized living room with large dining area.

A true chef's kitchen, which opens onto the living space, has top of the line appliances including Bosch, Liebherr, and Fisher & Paykel stainless steel appliances and granite countertops.

The king-sized master bedroom has a generous walkin closet and en suite master bathroom with in-wall flat screen tv. Large second bedroom with northern views and spacious closet. The en suite master bathroom and the 2nd full bathroom both have marble finishes and Waterworks fixtures, Neptune deep soaking tubs, additionally the master has a stall rain shower. 

1 Rector Park is a full-service, pet friendly, condominium building with 24-hour attended front desk, full-service concierge, a windowed fitness center, resident's lounge, playroom, business center and on-site parking (additional fee). Less than one block away is Rector Park, the Esplanade, and the endless outdoor recreational opportunities of the 13 parks of Battery Park City

Jamie Breitman at Corcoran is the listing agent. For more information click here.

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Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

Take A look At this Water Mill $32M Estate

Today we are taking a look inside and around our favorite home that has his the East Hampton market. With a price tag of $32 million this estate is destined to But architecture aside, the whole home is a work of art, from the kitchen through the library, and have you seen the pool? 

Utmost privacy surrounded on three sides by land that has been farmed by the same two families since the 1600's. This 6.9 acre estate is bordered on the fourth side by 360 feet of water frontage on Mecox Bay. This shingle-style traditional house with classic gardens truly epitomizes the concept of artisanal fueled craftsmanship.

The house was the collaboration of the best talents in their respected fields: Katherine McCoy architect, Men at Work builders, Quincy Hammond landscape architect, Daniel Romualdez interior design, Torie Burke wall finishes and Donald Kaufman colorist. Taking five years to complete, Listowel truly redefines luxurious living in the Hamptons.

The interior and exterior spaces are designed to seamlessly integrate all the modern conveniences yet still maintaining the old world style and sensibility. The home encompasses over 12,000 sq. ft. of living and entertaining spaces including a dramatic two story library with fireplace as you enter the front door.

The large living room with fireplace features three sets of French doors that open up to the expansive covered porch. The smoking room has a beautiful bay window and set of French doors onto the eastern facing covered porch. Off the main foyer on the west side of the house is the formal dining room with French doors, fireplace and hand-painted chinois wallpaper. The butler's pantry leads to the stainless steel chef's kitchen with walk-in pantry and the best appliances available today.

The adjacent large gathering room includes 4 sets of French doors opening on to the trellis-covered outdoor living room with a wonderful stone fireplace. Separate, though attached, is the guest cottage which features a complete informal living area which includes a fireplace, painting studio, second floor en-suite bedroom and access to the outdoor spa. Off the main staircase and upstairs, the master suite encompasses the entire south-eastern wing of the house and includes vaulted ceiling master bedroom with fireplace and French doors that step out to the south facing deck with dramatic views of Mecox Bay and the ocean beyond. There is a large, fully marb-led master bathroom with radiant heat floors and views across the farm fields. Two large walk-in closets complete the master domain.

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There are three additional ensuite bedrooms, all with vaulted ceilings, closets with custom built-ins and fully marbled spa-like bathrooms. The Tower study with a fireplace and dramatic water views completes this floor. The level of excellence continues outside to the design of the six acres of gardens and accessory structures including carriage house, heated gunite pool within the allée of Sycamore trees, vast rose garden, orchard of 60-year-old apple trees, potager, flower cutting gardens, dry stacked stone walls and gravel walkways, specimen mature trees and plantings-all laid out in the classic English garden style design, with room for a tennis court. A beautiful nature path leads down to the waterside with a large dock, perfect for motor boats and kayaks.

Tim Davis and Peter Huffline of The Corcoran Group are the listing agents.

For more information click here

The Secret To Succesfull Dubai Off Plan Property Investment

It is a perfect thing to have an asset which one can rely on for a source of income, and one of the best is to invest in real estate property. You must have heard a lot about investing in property, and without a doubt, it is one of the best investment you will forever appreciate.

There are different types of investment when it comes to real estate business such as buying a finished building or an abstract building known as off plan property. Just in case you’ve been convinced about investing your money into off plan strategy to become a landlord, there are some things you need to put into consideration.

There are secrets to success with off plan property which you need to get familiar with as a first-time investor

(1) Don’t rush

Don’t be too excited by the prospect that you are about to be a landlord and miss some important things you need to do. It’s the joy of everyone to become a landlord and choosing off plan property is such a right decision since it has a lot of advantages.

(2) Ask the frontiers

Don’t ever make the mistake of going into a market you no little or nothing about. Doing so means you are likely going to lose lots of money. But with the help of some people ahead of you, you can have a good result without any loss history.

There are some who have become landlords with the off plan strategy and they garnered a lot of experience with it. Going to them for advice is the right action for you as they will tell you all that it takes to be successful with the strategy. Ask questions and take note of the steps they make if they have a success story.

(3) Understand the approach

The next thing you need to do is to understand the strategy and the best way to go about that is to get along with your developer. The developer will pitch the plan to you, and you have to look critically into it to ensure it is something you understand and can work with. Off plan property strategy is the most comfortable means to get your dream home at your convenience and part of the process is the flexibility in payment which means you can start with a little amount.

(4) Choose the right developer

That which determines your success as well with the strategy is the developer in charge of your project. There are different developers out there, and you can quickly fall into the hands of the wrong one. To avoid such occurrences, it is advisable that you get developers from people who have had experience with them.

It is essential that you choose a developer that is experienced with success ratio which is why asking for the portfolio isn’t a wrong decision before approving one.  Your developer must be able to understand the building you want and also be updated with the market value of the property. The developer must see to it that the project must be successful and sellable on the off chance you intend to rent out or sell.

(5) Decide the type of property

Now that you’ve decided to invest in property through off plan strategy, the next thing is to determine the exact property you want as you have just the options of a commercial or residential apartment. The type of apartment you want is what your developer will work with. If you are in need of a place to live for you and your families, I suggest you opt for a residential apartment. Note that commercial properties are in high demand and that means you have quick returns on your investment.

(6) Choose the Location

The location has a lot to say about the profit you will make over a property. You have to look out for the landmark of the area as that will determine the amount you will rent or sell your property. It is advisable that you choose a location that is overpopulated as that will ensure that there is more demand for an apartment.

In conclusion, getting a property through off plan strategy isn’t too risky as some think it is, so far so good, it is still best means to get your home without the need to go on bankruptcy. It gives you the platform to pay the money in stages and then concentrate on some other investment. All that you need to know as a first time investors have been discussed above. Your success all relies on the steps, and I suggest you read and understand each step before investing your money.

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Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.