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My hubby, a teacher making just over $60k a year and I (currently unemployed) have outgrown our 1 bedroom Forest Hills co-op, and wish to start a family sooner than later. If we sell it, we would have a down payment of $200k to work with, after paying off a small mortgage and realtor fee's, etc. I would imagine he would qualify for about another $200k via a mortgage.
With that said, where on earth, (or actually in Queens, lol) can you find a decent home (not co-op or condo), in a safe area like Forest Hills, which we are used to, that is priced under 500K? We do not need to be near the subway, as we commute everywhere by car. I walked around our area, and found row-houses that need a lot of work priced at 650-700k?? Are they really selling them so high? Anyone know where we should be looking, or are we stuck here in our apartment?
I think you should seriously consider just getting a 2br/3br co-op or condo.
The Bronx has some of the cheapest real estate in the city and 3 br houses go for around $500k up here. So I doubt you'd be able to find a 3br house for $500k in nicer areas of Queens.
Forest Hills is such a nice neighborhood, why would you want to leave? I'd just try to find a larger Co-op if I was in your position.
you can find a house in queens for $500K or under, the problem is that they're going to be in neighborhoods such as laurelton, cambria heights, springfield gardens, maybe rosedale. more working class neighborhoods with not nearly as much amenities as forest hills. schools aren't the greatest either in these neighborhoods.
There are many houses for 500k or so in nyc. You just need to expand your search.
Off the top of my head, you can find some attached houses in whitestone, bayside, etc in that price range which are nice areas. Forest Hills wouldn't fit the 500k budget.
Keep in mind the housing market is tanking due to the sub-prime mess. That said it a buyers market. I think you can go back to those row houses that you like in a few months and tally up the cost to fix the place and put a $500K (or less) bid on the house. It would be worth the while doing some research to see how long these folks owned the place and the amount they had purchased the house for hence giving you a confidence level to bid accordingly.
<< that is priced under 500K? We do not need to be near the subway, as we commute everywhere by car. I walked around our area, and found row-houses that need a lot of work priced at 650-700k?? Are they really selling them so high? Anyone know where we should be looking, or are we stuck here in our apartment? >>
As you must know, Bayside has top rated schools and a very low crime rate. I have noticed a lot of people have moved in who were living in Manhattan and have kids due to the schools and the convenient location here. (Not to mention space, compared to much of Queens.)
I look at house ads around here constantly. You could definitely pick up a semi-attached house, if you were dilegent in your search, for about $500K. I would check Craig's list and contact local realtors like Ann Folan, Judy "energized" realtor, etc.
Yes, houses are generally more money, but I know that you can get a semiattached house for that price ($500) with time and patience in your search.
There are many houses for 500k or so in nyc. You just need to expand your search.
Off the top of my head, you can find some attached houses in whitestone, bayside, etc in that price range which are nice areas. Forest Hills wouldn't fit the 500k budget.
I have family who live in Richmond Hill North and it is a great area - not large, and the teenagers went to top schools (Townsend Harris, etc.) Prices are not too bad there.
I live in Bayside and feel that the poster needs to consider here. Whitestone is great but more expensive for what you get but extremely safe.
Bayside is unquestionably one of the nicest neighborhoods in Queens. Good schools, nice area to live.
However, what's going on with the demographics there? Has the white population stabilized to some degree or is everyone still fleeing? I think Bayside will loose a lot of its alure if it just becomes yet another Flushing and everyone in the neighborhood is Korean.
Whitestone is also really nice, but I think there is generally more to do (shops & stores) in Bayside.
Quote:
Originally Posted by Martha Anne
I have family who live in Richmond Hill North and it is a great area - not large, and the teenagers went to top schools (Townsend Harris, etc.) Prices are not too bad there.
I live in Bayside and feel that the poster needs to consider here. Whitestone is great but more expensive for what you get but extremely safe.
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