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Check out the north end of New Rochelle that borders Scarsdale and Eastchester. Davis or Ward are the elementary schools, Albert Leonard the middle school. And check out Eastchester, especially with it's Lake Isle Town Park. It's a great way to spend the summer. In the north end you have a choice of using Crestwood or New Rochelle train stations. You're also in close proximity to the Hutchinson Parkway in case you have to drive in, especially to the west side of Manhattan.
houses under a million sell in 5 minutes. Someone i know in pville put his house up for 700k on thursday. Had 5 offers by sunday, eventually selling for $750k. All cash. No one is taking a 10% down offer seriously.
:-o
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I second the suggestion to check out White Plains. It's a great city with express trains to Manhattan and very easy access to other parts of Westchester. I lived there for 8 years and loved it.
There are some options in Eastchester and Tuckahoe at your price point, although taxes may be pushing it a little bit. Schools in either of those areas are really good. We moved to Eastchester recently and absolutely love it there.
There are some options in Eastchester and Tuckahoe at your price point, although taxes may be pushing it a little bit. Schools in either of those areas are really good. We moved to Eastchester recently and absolutely love it there.
Not really, 20K property tax on a 750K house is very high - and unusual. Yes there are some houses with that price and such high property taxes - but not so many.
If you buy at the top of your budget your P&I payment alone will be $5K. That is not affordable on $200ish gross. Stick to $500Kish and look further north and you'll have a better shot at success.
P&I on a 675k mortgage at 3.92% is $3,191/mo. Throw in another 1,500 for prop taxes and you're still not at your "P&I alone" number.
P&I on a 675k mortgage at 3.92% is $3,191/mo. Throw in another 1,500 for prop taxes and you're still not at your "P&I alone" number.
Whoops, I meant to say PITI, thanks for the correction. But otherwise the rest of my post stands. 675K is in jumbo territory so 3.9 isn't happening and $4700+/m mortgage payment on somewhere around $10K net is a bad choice.
Whoops, I meant to say PITI, thanks for the correction. But otherwise the rest of my post stands. 675K is in jumbo territory so 3.9 isn't happening and $4700+/m mortgage payment on somewhere around $10K net is a bad choice.
I'm under contract right now to purchase a home in Westchester for $850k with 20% down ($680k loan amount) and my rate is 3.625% 30 year fixed through Wells Fargo with low closing costs/no points. Total payment all in with taxes is a hair under $4,700/mo (again, your numbers are correct assuming they are PITI rather than PI).
Regarding whether OP should pay 50% of OP's take home on housing is definitely a personal choice; depends on how much his family is capable of living frugally. I agree though- living in westchester is wildly expensive outside of just housing costs, so things will be very tight. $5k/mo for all expenses for the entire family will require very good budgeting in this area.
My home meets OP's requirements in terms of size but it's a good 10-15 minutes drive from the nearest train so would be a crappy commute for OP. It happens to be about 6-8 minutes from my employer though so I'm happy here
I find we are among the biggest "school snobs" in the country. Places like New Rochelle and White Plains, while considered "OK" around here, if placed in many other metro areas would rank among the best districts in the area.
I'm under contract right now to purchase a home in Westchester for $850k with 20% down ($680k loan amount) and my rate is 3.625% 30 year fixed through Wells Fargo with low closing costs/no points. Total payment all in with taxes is a hair under $4,700/mo (again, your numbers are correct assuming they are PITI rather than PI).
Regarding whether OP should pay 50% of OP's take home on housing is definitely a personal choice; depends on how much his family is capable of living frugally. I agree though- living in westchester is wildly expensive outside of just housing costs, so things will be very tight. $5k/mo for all expenses for the entire family will require very good budgeting in this area.
My home meets OP's requirements in terms of size but it's a good 10-15 minutes drive from the nearest train so would be a crappy commute for OP. It happens to be about 6-8 minutes from my employer though so I'm happy here
Back when you could deduct mortgage and the entire property tax it was an easier do.
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