Who out there has bought a condo in NYC? Need knowledge?!

I ve done my internet research but I d love to get some current input from real home owners in NYC.
I m talking 5 boroughs, but particularly I m looking in Queens.

I ve found the place, it s on my current street so I know everything about the neighborhood I need to know. What I don t really know though, is does the value of NYC realty really continue to increase? Is this really an investment? Or am I looking a strictly a pricier place to live?

The mortgage would be more than I m currently paying, but about on par with what other one bedrooms cost. For some reason, my older landlord charges a very fair price and since I ve been here a long time he doesn t raise it. The only thing is, I m still paying thousands of dollars into my renting (even if it isn t that expensive) but at the end I just move out and that s it.

If I own. I own it! But do I want that?!
I know I ll get burned out of NYC eventually, and I know I m not keen on raising kids in queens but I have at least 10 years of condo living. Then I could rent. Sell for a profit?

Who knows about this out there! Fill me in on your stories of purchasing in NYC boroughs.

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