Thinking about moving to Long Island from Brooklyn (Babylon, West Babylon: for sale, real estate)

[molover215]

Hello, I am new to forums so please bare with me.

My husband and I are currently living in Brooklyn in a co-op that we own. We recently put our apt up for sale and we are starting to look for a house. We would love to stay close (about an hour drive) to our families that will remain in Sheepshead Bay/Gerritsen Beach.

We were thinking Long Island but the real estate taxes are so high compared to staying in Brooklyn. On the flip side the houses are less expensive which kind of off sets the taxes but I feel like we're just throwing money away instead of building equity in our house.

I just found out that as a LI resident you don't have to pay NYC income tax which will help us pay the higher real estate taxes but it would still cost more. Are there any other financial benefits or unexpected expenses I should be aware of when choosing bt living in LI and Brooklyn....PLEASE HELP!!!

[onrway2clt]

Originally Posted by molover215

Hello, I am new to forums so please bare with me.

My husband and I are currently living in Brooklyn in a co-op that we own. We recently put our apt up for sale and we are starting to look for a house. We would love to stay close (about an hour drive) to our families that will remain in Sheepshead Bay/Gerritsen Beach.

We were thinking Long Island but the real estate taxes are so high compared to staying in Brooklyn. On the flip side the houses are less expensive which kind of off sets the taxes but I feel like we're just throwing money away instead of building equity in our house.

I just found out that as a LI resident you don't have to pay NYC income tax which will help us pay the higher real estate taxes but it would still cost more. Are there any other financial benefits or unexpected expenses I should be aware of when choosing bt living in LI and Brooklyn....PLEASE HELP!!!

As long as you are aware of the huge spike in property taxes you will be ok. Yes it is true you do not pay NYC income tax.

I grew up in sheepshead bay, I understand the schools there are just horrible now.

I really cannot think of any other financial things to worry about. If you are going to take the LIRR to work then you will have that expense as well.

[GypsySoul22]

I'm not an expert on Brooklyn or Nassau County (where I assume you will look since you want to be near Brooklyn?), but if you live on Long Island do not assume you will be able to use 'local transportation.' Here in Suffolk County the bus is USELESS and does not go anywhere near where most people want to go. Most people have at least 2 cars in their families. Car insurance is expensive, so is gas (as you know). If you are used to walking (I am not familiar with Sheephead Bay) but here there is NO walking (okay, maybe some places have sidewalks) but the further out you go, the less you can walk to places.

[TrudiRose]

Hi there Molover! I'm in exactly the same situation as you! (Here's the thread I posted about it: http://www.city-data.com/forum/long-...t-babylon.html ) I'll be eagerly reading the responses to yours, since I'll be dealing with the same issues.

Where in Brooklyn do you live now, and where are you thinking of moving? We live in Windsor Terrace, and we're looking at moving to West Babylon.

I wonder if we're the beginning of a trend?

[GCGuy]

Originally Posted by molover215

Hello, I am new to forums so please bare with me.

My husband and I are currently living in Brooklyn in a co-op that we own. We recently put our apt up for sale and we are starting to look for a house. We would love to stay close (about an hour drive) to our families that will remain in Sheepshead Bay/Gerritsen Beach.

We were thinking Long Island but the real estate taxes are so high compared to staying in Brooklyn. On the flip side the houses are less expensive which kind of off sets the taxes but I feel like we're just throwing money away instead of building equity in our house.

I just found out that as a LI resident you don't have to pay NYC income tax which will help us pay the higher real estate taxes but it would still cost more. Are there any other financial benefits or unexpected expenses I should be aware of when choosing bt living in LI and Brooklyn....PLEASE HELP!!!

Just moved from Queens to Garden City.

Taxes on townhouse from 2000 - $5K, plus income tax from NYC

Taxes on new house in GC - $10.5K, but no income tax. I also am saving over $1K on my 2 cars' insurance, plus $250 on home insurance. My kid's will go to great public schools where in Queens I would be paying $8K for the 2 of them to go to catholic.

I got a lot more house for my money than in Queens...bigger house, more than 2 times the land (not a lot, but 72x125 v. 40x100).

We are very pleased with the move in a number of ways, not the least of which being the tax savings.

Your RE tax is a deduction just like your mortgage tax, plus you can theoretically pocket extra cash from a sale and put it in the bank and earn 5% rather than pay mortgage interest of 7%.

It's a matter of choice I would say.

[onrway2clt]

Also you should save money on car insurance when you move, sheepshead bay has very high rates, that is why many people try to use a friends LI address when getting insurance

[molover215]

Good point about the car insurance rates!!

[molover215]

Originally Posted by TrudiRose

Hi there Molover! I'm in exactly the same situation as you! (Here's the thread I posted about it: http://www.city-data.com/forum/long-...t-babylon.html ) I'll be eagerly reading the responses to yours, since I'll be dealing with the same issues.

Where in Brooklyn do you live now, and where are you thinking of moving? We live in Windsor Terrace, and we're looking at moving to West Babylon.

I wonder if we're the beginning of a trend?

Cool thanks, I'll check it out...Good Luck!!!