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I am thinking like most of the people in Fairfield County her husband either works in NYC or Stamford/Norwalk and wants the shortest commute in the nicest town they can find. Good schools and a nice safe town to live in are all connected whether you have kids or not.
Yeah, but there are equally nice (if not nicer) towns if the commute isn’t an issue.
I am thinking like most of the people in Fairfield County her husband either works in NYC or Stamford/Norwalk and wants the shortest commute in the nicest town they can find. Good schools and a nice safe town to live in are all connected whether you have kids or not.
This is it exactly. Right now he only has to go to the office (in NYC) once every week or two, which is why we’re willing to go further east and north than, say, Stamford. But we never know what the future holds with his current company or any other company he might work for, so we don’t want to go TOO far from the city.
And yeah, we’ve found that good schools correlate with a lot of other positives in a town, whether or not we use the schools. Plus, there’s always the possible issue of selling in the future. Paying for good schools is never a bad idea, in my book.
And yeah, we’ve found that good schools correlate with a lot of other positives in a town, whether or not we use the schools. Plus, there’s always the possible issue of selling in the future. Paying for good schools is never a bad idea, in my book.
Be careful.
Below is Post 1 from Jan 2020 in the Current Real Estate Market Thread, before the market took off several months later.
They couldn't give homes away in Weston in the 5's back then. In down markets these can be more vulnerable. Back then rural and larger lots were out of favor.
Resale will depend on the market at that particular time. I would never buy in a "Weston" with a short term stay. IMO, any Weston should be a forever home.
"What’s going on with the real estate market around Ridgefield, Redding and Weston?
Our family is looking to move sometime this year, and on paper, those towns are right up our alley (btw, thank you for the contributions to previous questions on this forum!) But I’m seeing a lot of -what appear to be- pretty nice places, have been for sale for well over a year. Is something going on? Housing bubble? Pollution discovery? Political discontent?
As a buyer, it almost seems too good to be true. As an analytic, that gives me reason to pause.
Be careful.
Below is Post 1 from Jan 2020 in the Current Real Estate Market Thread, before the market took off several months later.
They couldn't give homes away in Weston in the 5's back then. In down markets these can be more vulnerable. Back then rural and larger lots were out of favor.
Resale will depend on the market at that particular time. I would never buy in a "Weston" with a short term stay. IMO, any Weston should be a forever home.
"What’s going on with the real estate market around Ridgefield, Redding and Weston?
Our family is looking to move sometime this year, and on paper, those towns are right up our alley (btw, thank you for the contributions to previous questions on this forum!) But I’m seeing a lot of -what appear to be- pretty nice places, have been for sale for well over a year. Is something going on? Housing bubble? Pollution discovery? Political discontent?
As a buyer, it almost seems too good to be true. As an analytic, that gives me reason to pause.
Thanks in advance!"
We are planning on this being our forever home. No short stay in mind. But you never know what life can bring, so we’d like to be in a place with good schools. On that note, we never know what could happen in our own family. I could get sick or otherwise be unable to continue homeschooling, or the kids could choose to go to school. It would be nice to have them to fall back on if we need them.
If it will make you feel any better, you can look up what those taxes would be on a similarly-priced house in Westchester (or LI or NJ).
$35K could be the taxes on a $900K house in parts of Westchester!
Oh, we have! One of many reasons we are choosing Connecticut (though to be honest we just LIKE Connecticut better. It’s more beautiful, more charming. We like the New England vibe. We like the town-centric government structure. There’s a lot.)
Be careful.
Below is Post 1 from Jan 2020 in the Current Real Estate Market Thread, before the market took off several months later.
They couldn't give homes away in Weston in the 5's back then. In down markets these can be more vulnerable. Back then rural and larger lots were out of favor.
Resale will depend on the market at that particular time. I would never buy in a "Weston" with a short term stay. IMO, any Weston should be a forever home.
"What’s going on with the real estate market around Ridgefield, Redding and Weston?
Our family is looking to move sometime this year, and on paper, those towns are right up our alley (btw, thank you for the contributions to previous questions on this forum!) But I’m seeing a lot of -what appear to be- pretty nice places, have been for sale for well over a year. Is something going on? Housing bubble? Pollution discovery? Political discontent?
As a buyer, it almost seems too good to be true. As an analytic, that gives me reason to pause.
Thanks in advance!"
Honestly, rural and large lots is still a disadvantage IMO. Weston did well due to an overall supply shortage. I’d be wary about buying there for gains.
If you want gains and low taxes, but still rural-ish, I’d go north Westport/Fairfield, New Canaan, even Wilton. Many areas of those towns are almost indistinguishable from the rural charm of Weston and Easton.
That is, unless you find a great deal in Weston. But the really high priced properties could struggle in the future.
I think what has changed since 2020 is that the huge demand from New Yorkers moving out to Fairfield County has been directed disproportionally towards Westport, which Weston is also benefitting from. Just look at how busy Westport is these days with new stores and restaurants seemingly everywhere. Wilton, by contrast, still has many empty storefronts. Weston is, correctly, seen as Westport's backcountry.
I can attest the struggle of the rural market. I bought my home in Easton in 2019 and sold in 2021, at the height of the market. I only walked away with 130 thousand, I really wish I bought in Westport and I think I could have for what I paid (625,000) In 2019, neighbors homes didn't seem to sell for any price. They sat and sat and sat. Many were in foreclosure like conditions because sellers didn't want to put work into them knowing they wouldn't get the money back. I bought one. I pitied the seller and overpaid considerably, about 100 thousand (I had just sold from a hot RE market) which was a mistake in hindsight (we didn't know the market and we were hoodwinked).
The seller wasn't even kind in my generosity and left the home in dirty and damaged condition because they lost a little bit of money from what they paid and were rude. Aside from that, be very careful.about buying in Easton/Weston/Redding. Pore over past property valuations and the picture will become clearer for you. The pandemic was an anomoly. Don't be a future seller selling bitterly.
Last edited by Cubbybear66; 01-12-2023 at 11:20 AM..
Mikhail Faifman sold us our home representing both buyer/seller. I do not recommend.
Last edited by Cubbybear66; 01-12-2023 at 11:34 AM..
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