Job in Manhattan, where to live? (Nassau, Alabama: to rent, home, neighborhoods)

[JayManLNG]

Hello All,

I have the possibility of getting a job in Manhattan and I am curious to know what people are doing with regards to living arrangements. I currently live in Alabama but I am from Fairfield, CT. Most of my family is still living in that area too.

I'm looking into what options I have to maximize quality of life. My wife and I have one child and would like to start working on a second later this year. We will have a combined salary range of $150-$200K. We have no debt and currently have a home in Alabama that if we can sell will have a little money for a downpayment.

If anyone can provide their opions on what would be good for this situation I would love to hear on whether it is to live in Manhattan or to commute in from the burbs.

Thanks for your time and suggestions!

J

[babadi]

Where in Manhattan is the job, and how long a commute are you willing to deal with?

If the job is in Midtown and you're willing to commute an hour, you have many options. You could rent in Manhattan or a nice area of Brooklyn like Park Slope (buying on $200K in Manhattan is unrealistic, especially if you want a 3BR which will run $1.5MM+; Park Slope would be difficult but you might find something). Or you could probably buy in Queens (Forest Hills is nice) or Nassau County, LI -- parts of NJ and CT accessible by NJ Transit, PATH or Metro North too, although I'm not too familiar with those areas myself.

One thing to consider is that although the elementary schools in some parts of the city are decent, once you get up to the middle school level you'll probably want better, and at that point, you'll have to pony up for private school (big $$$, it'd probably be hard to afford for 2 kids on your salary, although you might be making more by then) or consider moving to the suburbs (where taxes are unreal, but still surely cheaper than private school tuition times two).

[spodekmodek]

I think Babadi has summed it up pretty well. I will usually take out clients looking for a place in Manhattan and many end up living in Brooklyn because it is more reasonable for a family. It depends on the experience you want. Some people feel that they have to live in Manhattan once in their life for all the great things it provides. And the fact is that Manhattan has become much more family friendly these days. In fact, many are moving back to the city after leaving initially.

Whatever you decide.

Best of Luck!

[mead]

Excellent summary.

Manhattan is probably too much for your income to own, although you could certainly rent a 2br on your salary.

Northern Brooklyn might be doable to own, definitely to rent. Park Slope, Brooklyn Heights, etc are neighborhoods you should look into.

Even farther out you could look into some outerborough neighborhoods which are less trendy, but are nice and easily affordable on your budget (Forrest Hills, Riverdale, parts of Northeastern Queens).

Then there are the suburbs which are all over the place and offer about the same things (generally cheaper housing, good schools, but a longer commute as the tradeoff).

With schools in the city, grade schools are usually ok, if you are lucky you can find some neighborhoods that have K-8 public schools that are decent, but usually not. middle schools are troublesome, and high schools are generally not the best. There are of course exceptions to this (good high schools in places like Northeastern Queens and Staten Island). The city also has a good number of magnet high schools which are EXCELLENT and free, however your kid has to be smart to get into one of those schools (entrance is by examination).

Originally Posted by babadi

Where in Manhattan is the job, and how long a commute are you willing to deal with?

If the job is in Midtown and you're willing to commute an hour, you have many options. You could rent in Manhattan or a nice area of Brooklyn like Park Slope (buying on $200K in Manhattan is unrealistic, especially if you want a 3BR which will run $1.5MM+; Park Slope would be difficult but you might find something). Or you could probably buy in Queens (Forest Hills is nice) or Nassau County, LI -- parts of NJ and CT accessible by NJ Transit, PATH or Metro North too, although I'm not too familiar with those areas myself.

One thing to consider is that although the elementary schools in some parts of the city are decent, once you get up to the middle school level you'll probably want better, and at that point, you'll have to pony up for private school (big $$$, it'd probably be hard to afford for 2 kids on your salary, although you might be making more by then) or consider moving to the suburbs (where taxes are unreal, but still surely cheaper than private school tuition times two).