Location v. Your Wish List

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If you’re focused on the building you’re in, the next question to ask is whether even the most costly renovation will give you your wish list? Or, would a renovation only be an interim compromise that will leave you apartment hunting a couple of years up the road? Finally, figure out what the smartest move would be for you on a strictly financial basis. If you’re flush with cash and have good credit, this may be a great time to move, but then again, even if you’re under water and have to write a check to the bank to move, interest rates are only going one way right now and that’s up, so you may want to consider whether taking the hit now, but finding an apartment better suited to your needs while rates are low isn’t the wisest move. Then too, with wildly attractive mortgage options out there and the approximately 20% market correction, this may be your last chance to score an apartment you normally wouldn’t be able to touch.

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