Staten Island real estate trends: buy or rent?

Are you considering moving to a new home? You have chosen State Island to be your home, but that is not the only thing you need to think about. Should you buy or rent a home? What is important to know about Staten Island real estate and what are the trends? How to be sure about your final decision and how to pick the best home for you and your family? There are so many questions that need to be answered, but with research, you will find an answer to all of them. It does not matter if you are moving into a bigger home or a smaller one, you need to be properly prepared and know all about Staten Island real estate trends.

Why do people want to live on Staten Island?

  • It is cheaper than the rest of NYC. Housing prices are lower too as you will see after exploring the Staten Island real estate market. If you want to live in a big house in NYC, go to Staten Island.
  • Staten Island is getting a lot of investments and many companies are opening their branches here. Also, it is becoming a tourist attraction.
  • Great place for families with kids because homes are bigger, it is safe and more quest than Manhattan or Brooklyn, schools are highly rated, and it has a lot of parks where your kids can play.
  • The nickname is Borough of Parks because Staten Island has so many outdoor spaces and green areas.
Staten Island ferry.
People are moving to Staten Island because of different reasons

Your new home will be decluttered and open if you do not have unnecessary items all around. With Simplify Valet Storage & Moving, which can offer you different services and facilities, you will enjoy a stress-free process of moving to a chosen location.

Staten Island real estate trends

Explore Staten Island and its real estate market. You should hire a local real estate agent because they are familiar with all the new trends and stats. But, it is not a bad idea to explore also by yourself. On the internet, you can find a lot of useful information.

Staten Island is one of the affordable NYC boroughs when it comes to the costs of living and housing too. That is why many people want to live there. You can get a lot more for the same price. If you want to buy a home in Staten Island, the median home price is around $640,000 but the prices are going up every year. On average, homes in Staten Island sell after 72 days. The median rent per month in Staten Island is $1,700 which is very affordable compared to Manhattan and Brooklyn for example.

68.3% of the population in Staten Island own homes, while 31.7% are renting. The rest are vacant. Almost half of the total homes here were built between 1970 and 1999. Here live many families with kids and a lot of homes have 3 bedrooms. They are single-family homes which is the most common home type in Staten Island.

House keys.
Living in a nice home on Staten Island sounds like a good plan, but first, you need to know some facts

Some of the most expensive neighborhoods in this borough are Richmond Valley, Todt Hill, Bloomfield, and Lighthouse Hill. While the least expensive are Heartland Village, Howland Hook, La Tourette Park, and Tompkinsville.

Renting a storage unit

You should know that there is always an option to rent a storage unit for your items. If your new home is small for all your items, or you are renovating, your stuff will be safe in a storage unit in NYC. Research companies that offer storage services in New York City and choose the right size. Exploring Staten Island real estate trends is not the only important task.

Moving your items to a new home in Staten Island

No matter if you are renting or buying a home – the moving process is unavoidable. So, how to move all your items from your old home to a new home? What is the safest and easiest solution? You can engage people who know the area because professional movers have experience and knowledge. After researching the real estate market in Staten Island and buying or renting a house, you should explore moving companies as well. They will help you with transportation and moving in. 

Rent vs. Buy in Staten Island

Being a tenant in NYC does not give you a lot of freedom to change the home, but you can do minor renovations to personalize the place where you live. Settle in and make your new home warm and cozy. A mover can help you with moving stress by transporting belongings safely.

 Buying a house after exploring Staten Island real estate trends
Ask for help when making a big decision

What are the differences between renting and buying a house or an apartment? How to choose? It is a major decision and a big responsibility that can cause you a lot of stress. But, having a guide can help you deal with the situation. Consider these factors when making a decision:

  • How long will you live on Staten Island? Do you plan to stay there for a longer period or not? If you are not sure, then buying a home is not maybe for you right now. Planning to stay there more than 5 years is a good sign that you may think about purchasing a house.
  • Estimate the costs of buying and renting. Affording a mortgage payment is not the only cost when buying a home. Calculate a down payment, closing costs, and renovation costs. Know your budget and know what you can or cannot afford. Finances are the main factor when choosing between buying and renting a home. Not only in NYC but anywhere else.
  • Do you want mobility or do you want to put down the roots?
  • Know the risks of both options, buying and renting too. Both options have pros and cons, including risks.

Do your homework!

Exploring Staten Island real estate trends can help you with making the final call. Moving to a new home is a very exciting process. Know what to expect after moving, especially if you have never lived on Staten Island before. It is a beautiful place where you can live in a big family home at a more affordable price.

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