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What areas are you interested in purchasing in? Are you still considering Queens?
I am in Jackson Heights now and I like the area but it is a bit pricey in my exact location and I need to watch my pennies. Areas outside of the historic district are cheaper and still nice. I would have loved to buy a house just north of Northern Blvd around 80th Street but wayyyy too expensive for me.
My advice you- from someone who has been there- don't buy a co-op unless you plan to stay more than 5 yrs. I really don't think it's worth the expense and hassle of buying unless you plan to stay longer than that. Really 7 years would be better. We went from no kids to 2 kids and a dog very quickly and we just outgrew it.
Also be careful about the maintenance. Our maintenance went up from 700something to $1,100 in just over 4 years. They hit us with an assessment every year. Extra fees and parking fees and loads of BS. It made it hard for us to sell. I am sort of anti-coop based on my experience... but other people love it. So just go into it with your eyes open. It is like being married to a bunch of people that you don't necessarily agree with or like.
Another suggestion- Glen Oaks with Bayside schools? I wouldn't necessarily buy a coop there (I have friends who own who can't unload them) but you could rent there. Good district. Don't think the commute is too bad. Parking is so-so, but I'm sure you're used to that if you live in JH right now.
My advice you- from someone who has been there- don't buy a co-op unless you plan to stay more than 5 yrs. I really don't think it's worth the expense and hassle of buying unless you plan to stay longer than that. Really 7 years would be better. We went from no kids to 2 kids and a dog very quickly and we just outgrew it.
Also be careful about the maintenance. Our maintenance went up from 700something to $1,100 in just over 4 years. They hit us with an assessment every year. Extra fees and parking fees and loads of BS. It made it hard for us to sell. I am sort of anti-coop based on my experience... but other people love it. So just go into it with your eyes open. It is like being married to a bunch of people that you don't necessarily agree with or like.
Another suggestion- Glen Oaks with Bayside schools? I wouldn't necessarily buy a coop there (I have friends who own who can't unload them) but you could rent there. Good district. Don't think the commute is too bad. Parking is so-so, but I'm sure you're used to that if you live in JH right now.
Yes, you are subjected to increases in maintenance with co-ops but rents can fluctuate too . I live in a co-op now and chose mine very carefully based on its sound financials and frugal board. Our shareholders aren't wealthy -- teachers, civil servants, artists, older people -- and we have watched the area around us get very expensive, so we work hard to keep the maintenance affordable. I have been here almost four years and we've been spared any large increases so far. We're also fortunate to have the STAR rebate, which lowers the maintenance by about $140, each month, for five months.
My reason for moving would be to find a cheaper co-op to lock in my monthly mortgage payment so that at least 50% (or so) of my monthly expenses would be fixed. I was hoping for a house to lock in 100% but it seems unlikely in Queens. Maybe LI or NJ.
I work for a law firm that practices cooperative/condominium law and am totally against buying into cooperatives and condos because essentially you are at the the mercy of the board of directors. Why pay for something that is totally not yours and is governed by others rules (whether they are good or bad). I've seen some crazy things that Boards do these days that have left me astounded and we represent these Boards. But again, nothing you pay for is trully ever yours including your own private home (think taxes, don't pay them and see how quick the home is not yours). With that being said does LI work? The commuting costs are a bit expensive but I have seen homes in Freeport and Baldwin in that price range that were decent. Not sure how the schools are in those towns though. Can anyone chime in?
You wouldn't. The result of all requirements you listed is empty set.
I am not surprised. It isn't an impossibility if good schools are a non-issue but it shows the difficulty that a true middle income family has in finding affordable housing and decent quality of life in NYC. We really need more options.
As Bluedog said, there are several neighborhoods in the Bronx that fit your criteria and budget. We're a middle-class family with many of the same concerns (schools, commute etc.) and ended up buying a house in the BX. The kids are in a great K-8 public school and it's worked for us, but I have no idea what we'll do for high school, but that's still several years in the future.
For me it was very important to own a house, and both my husband and I wanted to stay in the city and be within walking distance of the subway. We moved from upper Manhattan, so geographically it wasn't far to come.
I lived in jamaica queens mostly my whole life even though I was born in hunts point bronx but you are definatly discribing queens well except the street traffic lol. But yeah my best bet is to go with queens I mean it has a good enviornment, I mean anything you could possibly want, but that's just me, I love everything about new york so any place to me in ny wud b great(:
I'm not surprised at the deafening silence on this thread. I think I've painted a scenario that is tough to fulfill given the financial constraints and other requirements.
Again, I'm pretty familiar with Queens so if you have any suggestions for neighborhoods in The Bronx or Brooklyn, please jump in.
Thanks!
hello i was born in the BX and i lived in brooklyn . I really wudnt recommened you move to brooklyn, I mean most of their neighborhoods arent really AS safe as others, especially for elementary kids lol, I'm telling you this from the age of 15 . I've seen some bad stuff happen in brooklyn, not saying it doesnt in the bronx because it does believe me,but atleast until you get used to new york and its people , you shouldnt go to brooklynfor long term thoughts . i mean you can visit I mean u wont get shot up if you go haha But you by your standards it sounds like queens . .
you about 12 years to0 late... your price point is way off.
Queens has gotten ridiculously expensive in the last decade!
with that budget, you might find a 3 bedroom nice coop with a back yard
if you look very hard. otherwise, you will be looking at neighborhood that requires a
bus to a train connection...those neighborhoods are maspeth, middle village, glendale, ridgewood and your budget still might be a little low depending on how old an house you are willing to settle for.
coop neighborhoods..very diverse... jackson heights, woodside, sunnyside -- commute under an hour.
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. I live in a co-op now and chose mine very carefully based on its sound financials and frugal board. Our shareholders aren't wealthy -- teachers, civil servants, artists, older people -- and we have watched the area around us get very expensive, so we work hard to keep the maintenance affordable. I have been here almost four years and we've been spared any large increases so far. We're also fortunate to have the STAR rebate, which lowers the maintenance by about $140, each month, for five months. 
