Shaya Seidenfeld Shares How to Avoid Overpaying for Property in New York

Buying property in New York is exciting but also risky if not approached with the right strategy. With high demand, limited supply, and fast-moving deals, many buyers end up overpaying without realizing it. Shaya Seidenfeld, a trusted name in NYC real estate, shares practical insights to help buyers avoid this costly mistake.

Overpaying in real estate doesn't just hurt financially—it creates long-term regret. Knowing how to identify a fair deal, navigate bidding wars, and understand hidden costs is essential for anyone entering the New York market.

What Leads to Overpaying in NYC Real Estate?

New York's property market is unlike any other. Inventory moves quickly, competition is fierce, and emotions often get in the way of smart decision-making. Buyers tend to overpay when they rush into deals, trust listing prices blindly, or get caught up in bidding wars.

According to Shaya Seidenfeld, the biggest issue is lack of preparation. Many buyers fail to research comparable sales or understand how location impacts value. Even worse, some overlook hidden costs like property taxes, maintenance fees, and renovation needs.

Research the Market Before Making a Move

The first step to avoiding overpayment is understanding the local market. That means going beyond online listings and digging into real data. Know what similar properties in the same neighborhood have recently sold for. Check average price per square foot, how long listings are staying active, and whether nearby developments might increase or decrease property values.

Shaya Seidenfeld recommends paying close attention to trends. Is the neighborhood gaining popularity? Are investors buying in? Is there a seasonal dip in pricing? Small details like these can give buyers a major advantage.

Work With a Trusted Local Expert

Trying to figure out the NYC property market on your own can be overwhelming. An experienced agent can help identify fair prices, spot inflated listings, and guide buyers through negotiations. Shaya Seidenfeld emphasizes the importance of choosing someone who focuses on value over volume.

A good agent will never pressure a buyer into making a quick decision. Instead, the focus should be on long-term satisfaction and financial confidence. That means analyzing recent sales, discussing potential resale value, and helping clients stay disciplined about their budget.

Avoid Emotional Offers and Bidding Pressure

One of the biggest reasons buyers overpay is fear of missing out. When several people are interested in the same property, it's easy to get caught up in the urgency. But offering more than a property is worth—just to win the deal—often backfires.

Shaya Seidenfeld encourages buyers to set a maximum number and stick to it. If the price climbs beyond your limit during a bidding war, it’s better to step back. The right property will come along. There is always another listing, and with patience comes better judgment.

Factor In the Real Costs of Ownership

The purchase price is just the beginning. True property cost includes closing fees, insurance, taxes, and monthly building charges. Many buyers only realize the full financial burden after the deal is done.

Shaya Seidenfeld advises clients to calculate all ongoing expenses before making an offer. A property that seems affordable at first glance might come with high maintenance fees or needed repairs that push the real cost well beyond budget.

Make Data-Driven, Not Emotion-Driven Decisions

Purchasing property in New York is a major decision that deserves careful thought. But overpaying can turn that exciting decision into a regretful one. The key is to combine research, strategy, and expert support to protect your investment.

Shaya Seidenfeld works with buyers who want to make confident, informed decisions—people who care not just about owning property, but about owning it wisely. When decisions are based on facts instead of emotions, the result is a stronger investment and greater peace of mind.

Final Thoughts

 Before you buy in New York, make sure you fully understand how the market works. Work with someone who knows the landscape and puts your interests first. Most importantly, stick to your budget, and don’t let urgency or excitement lead the way.

With the right approach, avoiding overpayment is possible—and it starts by following advice from professionals like Shaya Seidenfeld.