Moving Back (for sale, apartments, rental)

[E's GMa]

Originally from Brooklyn, I've been living in Atlanta for the last 17 years.

My son, his wife and my grandson live in North Riverdale.

I'm trying to gather info about the viability/feasibility of moving back to the city, specifically North Riverdale.

In Atlanta, I live in my own condo with a reasonable maintenance fee.

I am on social security, and have savings. Needless to say, I would sell in order to have a place to live and add to my savings, if possible. A one bedroom condo with some utilities in the maintenance fee would be ideal.

Given the above scenario, is it financially viable to return to the city.

[LOVEROFNYC]

Zillow.com will tell you if it is feasible. Look at the apartment for sale/rent. Now is a good time to get a reasonably priced rent stabilized rental apartment. Put the proceeds from the sale in an investment account. NYC is amazing for the retired. So much to do.

[OyCrumbler]

What are your budget and needs? Will you have or need a vehicle?

[Lillie767]

You will need a car in Riverdale; not so if you live in Manhattan. Are you moving back to be in NYC or moving to be near family? Being in Riverdale is convenient to the opportunities and experiences of Manhattan, but you will not be in Manhattan. I've lived in both Riverdale and Manhattan, and definitely prefer Manhattan.

I would rent for a year before I bought anything. This would allow you to explore neighborhoods and get the feel of Riverdale and the City.

[foxyknoxy]

Co op city is reasonable priced.

[E's GMa]

Originally Posted by OyCrumbler

What are your budget and needs? Will you have or need a vehicle?

Thanks for your help. I won't need a vehicle. My expenses would include the usual (utilities, food, cable/internet, entertainment, etc.)

[OyCrumbler]

Originally Posted by E's GMa

Thanks for your help. I won't need a vehicle. My expenses would include the usual (utilities, food, cable/internet, entertainment, etc.)

What do you think your budget is going to be both for buying and for monthly expenses after such?

[Mr.Retired]

I suggest you monitor the neighborhood and access to amenities via this wonderful app.

Walkscore.com

[pierrepont7731]

Originally Posted by Lillie767

You will need a car in Riverdale; not so if you live in Manhattan. Are you moving back to be in NYC or moving to be near family? Being in Riverdale is convenient to the opportunities and experiences of Manhattan, but you will not be in Manhattan. I've lived in both Riverdale and Manhattan, and definitely prefer Manhattan.

I would rent for a year before I bought anything. This would allow you to explore neighborhoods and get the feel of Riverdale and the City.

You don't absolutely need a car in Riverdale, not unless you go to places where it's easier to drive, such as Westchester County, New Jersey, etc. Lots of people do delivery for groceries these days. Fresh Direct trucks are fairly common there. Laundry is usually on premises in most buildings, and if you are just going to and from Manhattan for entertainment, shopping, dinner, etc., there are a number of express buses there that run and Metro-North for easy access.

I have met quite a few people that lived in Manhattan, moved to Riverdale, then complained because it wasn't like Manhattan. Well duh, it's NOT Manhattan. It's a bedroom community OUTSIDE of Manhattan. It may offer easy access to Manhattan, but Riverdale is like a mix of the City and the suburbs within City limits, wedged between Manhattan and Westchester. People usually move there for more space, more green space, quiet and to settle down if they have growing families, not because they expect the same lifestyle they had in Manhattan.

It's like moving to the suburbs, then complaining because you used to live in Manhattan, and expect the same amenities, even though you left Manhattan.

[Metromoxo]

Here's a link to available coop apartments for sale in Riverdale in the 100K to 400K range. https://streeteasy.com/for-sale/rive...:100000-400000 You can change the price range if you want

You have to also look at the monthly coop maintenance fee, which can be high. Part of the reason is, it's not a condo, it's a coop and the maintenance includes taxes. Does your son own a coop? I think there aren't that many condos in Riverdale so most likely you'd get a coop.

Also look around for local Riverdale realtors. there might be some places that only deal with riverdale and they will be more knowledgable about the different coops. You want to make sure you buy in a coop that is financially healthy and doesn't have big problems coming up where the cost gets passed on to the shareholders like needs a new roof or new elevator