[Lalalally]

Originally Posted by Japanfan1986

Thanks for this detailed post (also thank you to others as well). As far as budget goes I'm trying to keep it closer to the $200,000 mark. Even lower would be great, but I know that might not be realistic. I haven't read much, if anything, about New Fairfield prior to this thread. I will have to look into it more. Are there any other areas comparably priced?

Keep in mind this price point is doable in NF for small homes like this one -- but there aren't that many that are in a good commutable area like this one is either. Most small (I.e. Less than 1000 sf) homes in NF are concentrated in the Candlewood lake communities or in a section known as Candlewood Hills -- which is up by Sherman -- and neither area is good for a commute. And many were former seasonal summer cottages which have been turned into year round homes. This particular house is in Ball Pond section, which also tends to have smallish lots and homes, but is literally on the NY border which is a big plus.

You could find comparable homes in any of the Danbury area towns, including danbury itself; but only western danbury and west side of new fairfield will offer you the best commute to NY because they're right on the border. Unfortunately though, the western part of Danbury is the most expensive part of Danbury with the biggest homes. The ball pond section of NF has the small starter homes you're looking for because it's technically sort of a lake community (it's sandwiched between Ball Pond in New Fairfield and Putnam Lake in NY). **you may want to add Putnam Lake, NY to your search too **

If you could up your budget to $275k, you'll have many more options.

But remember: it's not an easy commute at all

[snowtired14]

Originally Posted by Japanfan1986

Thanks for this detailed post (also thank you to others as well). As far as budget goes I'm trying to keep it closer to the $200,000 mark. Even lower would be great, but I know that might not be realistic. I haven't read much, if anything, about New Fairfield prior to this thread. I will have to look into it more. Are there any other areas comparably priced?

At $200K, not realistic in the NY metro area, maybe an older condo? If you see a house in your future, I'd suggest looking in the Derby, Ansonia area for price and consider taking train to GCT, Metro North runs along the shoreline. Good luck!

[jdhall1]

There is a pretty low supply of quality single family homes in the Danbury or New Fairfield area for $200,000. Several of my clients decided to purchase a condo after seeing what their money gets them for a home. At that price point, there are some pretty starter condos with about 1200 square feet, 2 bedrooms and a garage built in the 1980s.

[AnonChick]

Originally Posted by Japanfan1986

Specifically looking for low priced starter homes that aren't terribly far from NYC and are in relatively safe areas. I figured Connecticut may be an option worth exploring. I know plenty of places in Connecticut are expensive, but I've heard some areas have housing that can be on the lower side.

So what is the lowest price you can spend for a starter home in Connecticut that is relatively close to NYC? Also, are there any places in NJ or NY that may be even better for such a starter home? I know property value taxes in NJ can get nuts and NY in general is just so pricey.

You've said your budget is $200k or lower. That's not going to happen alone, not even if you rent a studio, within an hour of NYC. My suggestion: look into sharing a 2-bedroom apartment in Stratford.

[CTartist&musician]

I saw someone say Trumbulll and I thought $200,000 would be impossible even for a starter home in a good area. Here is a cute LITTLE house in a good area but it is a short sale. There are people in my town that do commute into NYC via Metro North. It might be worth checking out.

366 Edison Road, Trumbull, CT 06611 (MLS# 99065659) - Trumbull CT Real Estate - ColdwellBankerMoves.com

That square footage seemed very low given the picture of the home so I looked it up. The 816 sf of the house is all on the first floor. They don't have that the second floor is finished like in my cape. I bet a year or so down the road it would not be that expensive to finish the second floor. This little house is really worth a lot more. Someone must be in a bad financial situation and the home probably needs to be sold fast. I would make an effort to look at this house. By looking at the picture in my town records I would say there is 400 to 500 SF that can be finished quickly without great expense.

I can tell you that from my town's records the house sold for $305,000 in 2009 so I am sure the current owners are in financial trouble.

[JayCT]

Originally Posted by Japanfan1986

Thanks for this detailed post (also thank you to others as well). As far as budget goes I'm trying to keep it closer to the $200,000 mark. Even lower would be great, but I know that might not be realistic. I haven't read much, if anything, about New Fairfield prior to this thread. I will have to look into it more. Are there any other areas comparably priced?

I am not sure what you can find for $200,000 within an hour of Manhattan. My guess is not much. Maybe a condo or co-op in a crummy part of a city. Remember you are talking about one of the world's most expensive cities so there will not be a lot. Jay

[Goose-boy]

Originally Posted by CTartist&musician

That square footage seemed very low given the picture of the home so I looked it up. The 816 sf of the house is all on the first floor. They don't have that the second floor is finished like in my cape. I bet a year or so down the road it would not be that expensive to finish the second floor. This little house is really worth a lot more.

Market dictates its worth. It's been for sale over a year starting at $289,900 with four price drops since then. It could be worth more after an investment.

[CTartist&musician]

Originally Posted by Goose-boy

Market dictates its worth. It's been for sale over a year starting at $289,900 with four price drops since then. It could be worth more after an investment.

You must be a realtor to know about the price drops but you are correct about the value. My town has the value listed as $231,000. It still looks like a good deal though. You never see houses this cheap north of the Parkway in Trumbull unless they need $100,000+ to make them livable.

[Zenstyle]

Get the phrase "starter home" out of your vocabulary. That's a realtor's phrase. Instead, think in terms of "modest dwelling where I'm going to live."
The idea of "stepping up" only leads to over-consumption of space and resources the lemmings who fall for it never need.
I also agree with looking into condominiums at your price point, rather than single family houses.

[sheena12]

Originally Posted by Japanfan1986

Thanks for this detailed post (also thank you to others as well). As far as budget goes I'm trying to keep it closer to the $200,000 mark. Even lower would be great, but I know that might not be realistic. I haven't read much, if anything, about New Fairfield prior to this thread. I will have to look into it more. Are there any other areas comparably priced?

I know a place where you could. 150 would be easy. I lived there for 6 years - also my starter house. I'm not in RE and I no longer live on the East Coast but if you want to know more I'd be happy to tell you - the good and the bad.