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Looking into buying my first home in NYC, but not too sure which area would be good.
I've mainly been looking at houses in the Riverdale area, and new construction condos in the Long Island City and Flushing area. Queens, Bronx, and Manhattan houses and condos are the only ones that I'm considering.
My budget is around 900K for the home, without factoring in closing costs. Of course I definitely prefer a multifamily house over condos (so I can rent it out to offset the mortgage), but it's hard to find house that are not super far away from subway stations.
Which areas would be a good value and will likely experience a boom over the next decade?
If you're not familiar enough to already know where you want to live, you're probably not ready to buy a house yet. And if we could predict the next boom - well, you know.
You might be able to find something nice in Ridgewood, the area is a nice neighborhood, it only gets seedy when you get closer to Bushwick..
Woodhaven, I wouldn't recommend because it's far from the city and the (J) train is the worst over there. Maybe Ozone Park is a bit better because it's served by the (A) express.
Also recommend Elmhurst, Rego Park, Kew Gardens and southern Corona near the (E), (F) & (R) lines. Wouldn't recommend living near the (7) because it's extremely packed and if there is construction, you're screwed.
Bronx, if you want ROI but only to sell after the place gentrifies so in 10-15years in meantime rent in Bronx is increasing for now which is ridiculous
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