[thinkingofconn]

Originally Posted by BobNJ1960

OP, Where in NYC do you work (street)?

That is a big part of the info needed, almost never supplied. We can tell you how long a car ride-station will be, but have no idea your GCT-work commuting time.

It all piles on.

You must minimize the non Metro North time. You have 0 control on Metro North run times.

Rockefeller center/Times Sq area. I have moved shops a couple of times but always stuck to the too big to fail bank corridor.

[thinkingofconn]

Originally Posted by JayCT

$450,000 will get you a nice modest house in many outer areas especially if you don’t care about good schools. It depends what you want/expect for that price.

One location you might consider is the Black Rock section of Bridgeport. It’s a beautiful waterfront urban village that has great restaurants and shops. You could commute out of Fairfield Metro station. Taxes though tend to be high. Stratford, Milford, Trumbull and Shelton are also good to consider at that price. Stratford and Milford have stations on the New Haven line while Trumbull and Shelton you’d have to drive a bit longer to a station.

The Danbury area could also be considered. You could commute to the city out of Southwest station on the Harlem line of Metro North. The suggestion of Carmel, New York is good as well. Jay

I would prefer not to use all 450k at once. Some funds should be reserved for unexpected costs and repairs.

[DigitalMilford]

Originally Posted by thinkingofconn

I would prefer not to use all 450k at once. Some funds should be reserved for unexpected costs and repairs.

I don't think that's how mortgages work.

[BobNJ1960]

Originally Posted by thinkingofconn

Rockefeller center/Times Sq area. I have moved shops a couple of times but always stuck to the too big to fail bank corridor.

Great. That's doable by subway in 10-15 minutes, even with long walks inside the big subway stations at GCT, Rockerfeller Center.

[thinkingofconn]

Originally Posted by DigitalMilford

I don't think that's how mortgages work.

The point is I would rather borrow less and save excess cash for unexpected developments like repairs, legal fees, moving costs, inspection fees, etc.

[JayCT]

Originally Posted by thinkingofconn

I would prefer not to use all 450k at once. Some funds should be reserved for unexpected costs and repairs.

You could certainly get a nice home for under $450,000 in these towns. CTartist posted some listings that were lower priced. Good luck, Jay

[CTartist]

Originally Posted by thinkingofconn

What about property taxes?

If you scroll down on the links you will see "Financial Considerations". The tax amount is under that.

[JayCT]

Originally Posted by SteveM85

Don't buy any of that junk they posted for that much. Run away. Money pits. Wait for the CT correction, it'll come, you just have to be patient. There's never been a worse time in history to buy a home in CT than right now, ever.
Nothing is available anyway. If you see something just a few days or more on the market and still showing as active that just means they're sifting through offers and going back and forth negotiating.
Stay on the sidelines. Tsek and CTYank will tell you. They know the deal.

No one knows what the real estate market is going to do. Five years ago everyone was swearing prices were going to fall and yet they skyrocketed. Two years ago people were saying there would be a big correction when interest rates went up. So far no signs of a correction of anything.

Owning a home is not cheap and there is always projects to do and things to fix. If everyone waited for the perfect house at the perfect price, no one would buy. Fortunately most people see beyond that. If the OP is certain they will stay in the house long term, meaning at least 5 to 10 years, they should be fine. Jay

[JayCT]

Originally Posted by thinkingofconn

What about property taxes?

Have you sat with a mortgage expert and gone through the numbers with them? They would take taxes into account and explain what you can afford. Most real estate listings given property taxes but you should confirm them when considering a property. Also consider things like HOA fees (if applicable), insurance, utilities and the fact you likely will need a car if you don’t have one. You are about to make one of the biggest purchases in your life so it requires a lot of due diligence on your part. Jay

[okbymeman]

You can get to the city faster by driving from Danbury/Southbury/Woodbury areas than taking the embarrassingly slow choo choo from Milford/Shelton. Seriously, the Metro North is trash. If you’re gonna do CT just get a decent car and plan for a 1.5 hour drive into NYC.