To Buy or Rent in ALBANY,ny (Utica, New Scotland: apartments, rental)

[mmk09]

Hi there,
I am thrilled I came across this forum. I am hoping someone can shed some light on this issue. I'm moving to Albany to work at AMC. I just don't know whether it is best to buy or rent there. I am single, will be working all hours at the hospital, so I'm unsure if I should
a) live walking distance and rent or buy
b)live in downtown and commute
c)live in the burbs and commute.

How are the housing prices for houses around AMC? What about condos? It seems that there aren't that many condos available..do people own there or is it mainly a rental city like nyc? If anyone can shed light on any of these issues, I would be so grateful. Im willing to own a house or a condo, but I dont know which would be easier to sell in albany after a few years and what the housing market is like right now there? Is it as bad as it is in the rest of the country?

Thank you for all your advice and input
minnie

[purrfectplace]

Interesting question I'd liketo see what the natives hae to say.

[j12308]

I would say since you are single, rent a place downtown, near work and all the bars and restaurants in Albany. This way you can have easy access to social, cultural stuff in the city not have far to go for anything. Once you're in the area for a bit, then consider buying. Also later when your situation is different, living w/someone, married, have kids, you'll have a different perspective and probably want to live somewhere more in the burbs. Have fun in Albany while your single!

[MrBiggz]

I'm Albanian. Actually a transplant from Utica, but I've been in the Capital Region for 12 years now. This place is over priced and the apartments are undersized. Meaning they've been subdivided to the extreme!

The city of Albany itself is crumbling as we speak. The roads are crap! Extreme crap! So, I hope your car is old or older. I wouldn't want anybody to drive a new car on these streets! It'll get tore up before you get it home!

Good luck selling a house in this market in this state. Might as well burn it down and collect on it. It's sad to say .. but it's the truth!

For me, hopefully if everything goes ok .. I'll be on my way to Indiana in a month or less. And NY can pucker up and kiss it!

[mmk09]

So I went to albany yesterday, here is my impression.
Houses around AMC are old victorian style, pretty much falling apart, mostly rented out to students at ridiculous prices, this isn't NYC!. There are safe streets and unsafe streets, anyone know exact safe streets?
I was told to stay away from downown, esp if walking at night-too rowdy
Rest of the area outside albany itself (guildwood and colonie) don't seem too bad.
Everyone is nice though, I liked that
Still don't know if I should buy or rent for 4 years
Anyone know the housing market in Albany, going up or down?

[juppiter]

Originally Posted by MrBiggz

I'm Albanian. Actually a transplant from Utica, but I've been in the Capital Region for 12 years now. This place is over priced and the apartments are undersized. Meaning they've been subdivided to the extreme!

The city of Albany itself is crumbling as we speak. The roads are crap! Extreme crap! So, I hope your car is old or older. I wouldn't want anybody to drive a new car on these streets! It'll get tore up before you get it home!

Sooooo not true. The streets are fine. 85 is crumbling and is currently being repaved.

[MrBiggz]

Originally Posted by juppiter

Sooooo not true. The streets are fine. 85 is crumbling and is currently being repaved.

Now you did it! Time to break the camera out and do a little documenting! Ready to be caught out there? And I'll be doing .. MAIN STREETS and some lesser traveled side streets.

I don't think you live in Albany juppiter. Maybe pass through on I-90 or 787. But you don't live in the city.

[Phoenix lady]

When I lived in the Hudson Valley years back, Albany was a great city. It's sad to hear how it's gone down hill, along with other once great cities in the North East. The old buildings you have there, though, whatever shape they're in, beat these cookie cutter, Stepford wife homes out here.

[JM2288]

Hey MMK09: congrats on the job..i used to live by AMC and thought it was nice, quiet at night and safe. I would def rent first..rents not too bad you could prob get a one bed for around $550-650. I personally lived on Warren St. which is b/t Quail and S. Lake but any streets by New Scotland Ave are fairly nice, not far from the hospital and reasonably priced. Hope this helps!