Long Island is one of the country’s most expensive cities to live in. However, you will immediately realize why once you go around the city. With its manicured lawns, nice driveways, and wide yards–considered as luxuries in Manhattan–people from the Five Boroughs are naturally drawn to enjoy a bit of freedom.
As a bit of information, although Queens and Brooklyn are within the territory of Long Island, they are parts of New York City when residents voted yes during a referendum.
You also have to consider the highly-rated public school system in Long Islands, which adds on to its appeal. You only have to look at ads of companies that say “We Buy Houses in Long Island” and you will realize how properties in the city are in high demand.
Are “We Buy Houses in Long Island” Ads Legit?
In a word, yes. To say these companies are illegal would be disingenuous.
Companies buying houses for cash may fall into the following categories:
1. They flip the house for profit
2. They buy the home and renovate the property to rent it out for a passive income
They can be an option if your property has been sitting for long in the market. Also, with the rise of property renovation shows, people are looking at move-in ready houses with an open concept and curb appeal.
For homeowners who cannot pay for renovation to maximize the value of their home, they can sell their house to these companies and still get enough money out of their properties.
As residents of Long Island are aware of, property taxes in the city are one of the highest in the United States.
According to the research by ATTOM, the average property taxes in Long Island and Nassau County is over $10,000. Based on the 2017 rates, residents of Nassau County and Suffolk pay an average of 1.88% and 1.90%, respectively.
In 2017, the average property taxes for Nassau residents was $11,415. Suffolk residents, meanwhile, paid $9,471. For comparison, the national average rate that year was a shade under $3,400.
As you can see, it’s quite expensive to maintain a home on Long Island. Residents have to pay a premium for the privilege of living there. So, it is understandable when homeowners have to move elsewhere where the cost of living is lower. For instance, if you’re a retiree with no source of additional income, residing in Long Island can be a burden.
But if you cannot find any takers for your home, you can look at those ads saying, “We Buy Houses in Long Island.” Throw away your biases and listen to what they say. Ultimately, nobody will force you to make a decision you do not like.
However, it would not be realistic to think that there are no unscrupulous buyers out there who are looking to cash in on desperate homeowners. Although they are the exception rather than the rule, unfortunately, they are giving the industry a bad rap. Make sure to deal only with companies with a track record so that you can get the most value from your home.
Reba Webb is a copywriter and content strategist. She helps businesses stop playing around with content marketing and start seeing the tangible ROI.
Shift Frequency © 2020 – Are Ads Saying ‘We Buy
Houses in Long Island’ Legit?