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Hi all- Ive been living and working in NYC for the past 5 years and am seriously considering moving into a 1 bed, 1 bath apt in Queens - neighborhoods that I like based on subway and overall location are Jackson Heights & Forest Hills. Suppose I get a 300K apartment - I am wondering what will be worth more down the road in order to make a profit from the sale. Forest Hills is a quieter area, Jackson Heights there are alot more things to do, so I'm thinking JH will be worth more. If I move to Forest Hills, do you think property will rise as well? Let me know your thoughts. Thanks for the feedback! -rollnrock
Don't buy according to which neighborhood you think will appreciate the most.Buy according to which neighborhood you would rather live in now.Owning a home is about your day to day life in the here and now,not about what it MIGHT be worth in the future.
Jackson Heights has quiet areas, and Forest Hills has noisy areas too... it just depends on where you move. Base it on where you want to live, not the future cost.
Condo or co-op? Certain parts of Forest Hills will probably never show significant depreciation, but at 300K you probably wont be looking for a detached house in Forest Hills Gardens. Check comparable sales for condominiums in both areas. FH is definitely a more "solid" neighborhood but that doesn't cut it as far as your research should go. I would say if you plan on living in the place for a long time, go with whichever neighborhood feels better to live in.
Who knows what's going to happen in the next 5-10 yrs with the economy. Development, amenities, and proximity to Manhattan should be considered when trying to figure out what a property might be worth down the line, but you also have to live there, So comfort is of most importance.
Don't really know. I don't live there anymore but about 6 years ago we bought a coop in the historic area of Jackson Heights. In 4 years, it more than doubled in price. Of course, I think days of such appreciation might be over, but I still consider the area a hidden gem that many are willing to pay the price for. The quiet and calm and green of the area is something that I just couldn't find in Queens outside of Forest Hills and at a reasonable price...
I grew up in Jackson Heights, which is a much bigger area than Forest Hills. So it absolutely depends where in each neighborhood you would be living.
I personally wouldn't live in Jackson Heights again unless it were between 72 st and 78 st, between 37 ave and Northern Blvd. The historic area extends to 90 st but unless you're walking distance from the 74 st stop, your commute become a little bit more of a hassle. Also, the higher the street numbers go up, the less desirable the area becomes because you approach Corona, which isn't exactly nice.
Not that Jackson Heights is unsafe, but Forest Hills is much, much safer. There are also million-dollar hi-rise condos in the area, as well as the Gardens. There's more money in Forest Hills, and for that reason I'm sure your $300 K will go further in Jackson Heights.
But most importantly, it boils down to what you prefer. You're going to live there. People-wise, I prefer Jackson Heights. It's more diverse and dining options might be the best in the city. It's more working class/middle class with little to no pretension. People are down to earth.
Forest Hills is middle class/upper class/wealthy and mostly Russian and Eastern European Jews. There is diversity in Forest Hills, but it's still mostly this one group where as Jackson Heights has Indians, Colombians, Yuppies, Russians, Asians, etc. pretty well-balanced.
Schools-wise, Newtown is the zoned public high school for Jackson Heights. It is not a good school. The Garden School, a great private institution is there as well, however. Forest Hills High is significantly better than Newtown but not great either. Garden School's equivalent, The Kew Forest School, is there as well.
Grew up in Jackson Heights. Lived in Forest Hills for two years. Both nice areas. Market-wise, the Heights will get hot and popular much like how Park Slope did. I don't think Forest Hills will ever have that kind of appeal, but I think Forest Hills is the better long-term option.
Think of Jackson Heights as Park Slope and Forest Hills as Brooklyn Heights.
There is plenty to do in Forest Hills. Check out Austin Street. I think Forest Hills is a much nicer area to live now Jackson Heights at this point in time.
FOREST HILLS! by far. It's a much nicer area that attracts people with higher incomes. Jackson Heights is very sketchy to say the least.
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