Brick Underground

Bolster, a New York City-based design-build firm, has identified several suggestions for finding some savings when undertaking a brownstone renovation. 

It is a mistake to sign on the dotted line unless you truly understand the particulars of buying in New York City, such as tax abatements, sponsor units, and the big one: The difference between a co-op and a condo. So it's important to work with an experienced agent, even if you have previously bought property outside of New York City.

Before you even interact with a real estate agent, consider what lifestyle factors matter most to you. Here are a few to consider: vibe, walkability, green space, cultural scene, leisure activities, community, food options (from cafes and restaurants to grocery stores and bodegas), commutability (not just for you but for friends and visitors), and aesthetics. Once you connect with an agent, he or she help you hone your list and show you places that fit your criteria.

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It’s important to set realistic expectations from the outset regarding what can be accomplished from a budget, scope, and timeline perspective. Compromises in brownstone renovations mostly arise because of budget constraints, which is tied to scope. Simply put, brownstone renovations are big projects. 

If you're looking for an apartment close to a subway, consider a new report from the listings site RentHop, which maps rental prices for one-bedroom apartments by train stop to see which way prices are going. It found that overall, the median rent for one bedrooms went up by 3 percent in the past 12 months.