Cheapest area to buy around Albany? (Schenectady, Union: relocation, real estate, cheap house)

[GiantRutgersfan]

I got a job in Albany. I have some savings and I want to buy a home rather then rent.

What area within 45 minutes of Albany would be the best to find a cheap house, preferably in a private location with an acre of land or more.

Dont really have any other criteria except to be in an area thats not completely isolated.

[rug city]

Originally Posted by GiantRutgersfan

I got a job in Albany. I have some savings and I want to buy a home rather then rent.

What area within 45 minutes of Albany would be the best to find a cheap house, preferably in a private location with an acre of land or more.

Dont really have any other criteria except to be in an area thats not completely isolated.

Anywhere around Amsterdam, NY. The area is surrounded by open space in the Mohawk Valley and a straight shot down the Thruway to Albany w/out traffic headaches of the Northway. Homes are very inexpensive.

[irreplaceable]

Originally Posted by GiantRutgersfan

I got a job in Albany. I have some savings and I want to buy a home rather then rent.

What area within 45 minutes of Albany would be the best to find a cheap house, preferably in a private location with an acre of land or more.

Dont really have any other criteria except to be in an area thats not completely isolated.

Well what do you concider cheap? And do you have kids in school?

[GiantRutgersfan]

Originally Posted by irreplaceable

Well what do you concider cheap? And do you have kids in school?

I dont have kids in school and I am single. I am a young guy, so I dont plan on having kids for at least 5 years.

I have about $70,000 sitting in a account waiting to be used as a downpayment. And I am going to be making good money at my job as well. About $65,000 a year.

I want something that costs like $150-200 and is a decent property. A multi-family home would be great.

My goal is to live in this house, and get it paid off within 4-5 years, and then either rent it out, or sell it depending on my situation.

[irreplaceable]

Originally Posted by GiantRutgersfan

I dont have kids in school and I am single. I am a young guy, so I dont plan on having kids for at least 5 years.

I have about $70,000 sitting in a account waiting to be used as a downpayment. And I am going to be making good money at my job as well. About $65,000 a year.

I want something that costs like $150-200 and is a decent property. A multi-family home would be great.

My goal is to live in this house, and get it paid off within 4-5 years, and then either rent it out, or sell it depending on my situation.

Thats a good plan but have you ever been a landlord? I owned a 2 family and had tenants...NEVER again! If it is something you really want I would suggest a duplex in Clifton Park (will be 25-45 minute drive depending where you live and work with traffic), Delmar it is closer to Albany and a nice area or even Latham. The biggest problem I have found with tenants if they don't pay it can take quite some time to get them out and then they trash the place and most mulit or 2 family homes are going to be old and need updating. Watervliet could be an option for you too. Just check to see if the towns have codes to go through before you buy to rent. My sister bought a fix me upper and well it needed a whole lot more fixing then she knew about to be able to rent it. There is also East Greenbush, Averill Park, Brunswick areas. You really have a lot of options. Have you visited the area yet? If not that would be a good start and I'd look into a realtor. Good Luck! Hope it all works out for you.

[irreplaceable]

Oh I forgot about you wanting an acre of land or more. Don't think you will get that in Watervliet. It will probably be hard to find a multi family on that too, they are usually in cities like Watervliet, Troy, Albany. You can get a nice 1 family with an acre or more in Averill Park in that price range probably.

[irreplaceable]

Albany Homes, Real Estate for sale - Times Union <---I put in for some surrounding areas and your max price range and that is what I got.

or here is the local paper. It the biggest one in the area and you can search for home from it....
Albany NY News - Times Union - Serving Albany, Saratoga, Schenectady, Troy

[GiantRutgersfan]

Originally Posted by irreplaceable

Thats a good plan but have you ever been a landlord? I owned a 2 family and had tenants...NEVER again! If it is something you really want I would suggest a duplex in Clifton Park (will be 25-45 minute drive depending where you live and work with traffic), Delmar it is closer to Albany and a nice area or even Latham. The biggest problem I have found with tenants if they don't pay it can take quite some time to get them out and then they trash the place and most mulit or 2 family homes are going to be old and need updating. Watervliet could be an option for you too. Just check to see if the towns have codes to go through before you buy to rent. My sister bought a fix me upper and well it needed a whole lot more fixing then she knew about to be able to rent it. There is also East Greenbush, Averill Park, Brunswick areas. You really have a lot of options. Have you visited the area yet? If not that would be a good start and I'd look into a realtor. Good Luck! Hope it all works out for you.

Thanks for the advice. How well did you screen your tenants? I figure that I can try to rent to family's and request to see their paystub to make sure they can afford it. I'm pretty handy and could handle the minor problems easily.

I guess for a multi family an acre isnt feasible. Thats ok I guess. Thanks a lot though for the help

[Honeycrisp]

Not to discourage you but sometimes (oftentimes?) tenants don't pay, no matter how much they're making, they could be in debt or spend it on other things. Check out this forum -
Renting Forum - Relocation, Moving, Local City Discussions - City-Data Forum
Lots of different scenarios -
You c/b lucky and have no problems but it can backfire bigtime too -

[GiantRutgersfan]

Originally Posted by Honeycrisp

Not to discourage you but sometimes (oftentimes?) tenants don't pay, no matter how much they're making, they could be in debt or spend it on other things. Check out this forum -
Renting Forum - Relocation, Moving, Local City Discussions - City-Data Forum
Lots of different scenarios -
You c/b lucky and have no problems but it can backfire bigtime too -

I guess. But it goes both ways. My uncle owns a business plus two apts he rents out and both of his tenants have been their for over 10 years with no problems