It's been a couple yrs since I last logged on, but I just wanted to update - hopefully it will help anyone else who may be where I was 2 yrs ago.
We did not purchase house 1. It went very fast (less than a week). So glad we never offered on it, after Hurricane Irene and Sandy, I can only imagine what that poor basement must have gone thru.
We did no purchase house 2 in Mt Kisco either, we opted against it because of it's drop in the backyard into the river w/ our 2 kids. And last we saw the house on a rainy day the cul de sac in front of house was collecting water, so I can only imagine what it did during the hurricanes.
We purchased a $630K 1930's 3 bdrm 2 full ba home, 1car att garage, dry basement (never had a flood in it's lifetime so didn't have a sump pump), window units/radiator heat in Chappaqua that was lightly updated here and there (box store bathroom vanities, repainted kitchen cabinets - tiled kitchen granite counters) but had much charm and we love it. It's one of the smaller homes surrounded by $1M+, so when we fully renovate the home over time we feel it will be a solid investment. We love our school and are very pleased w/our location as it is up higher (so the views are beautiful and don't feel cramped). Neighbors are down to earth and friendly, yet respectful of each other's privacy. If you're very old school Chappaqua - we supposedly live on the 'other side of the tracks', but I don't feel that way at all and neither to my neighbors.
What we learned quickly:
1)installing central air or duct work for heating units is very messy and costs approx in $20K range, not $10K like our realtor suggested.
2)1930's home/older homes are charming and lovely. But garages were for made for wagons. =) Can't fit tall modern cars, or if you can get in a small car it will barely fit anything else.
3)oil is the major cost of our utilities. 1yr winter was mild ($4k/yr). 2nd yr winter was in full swing ($4K for 4 months)
4)truth that there is no energy effeciency in old homes. Had to replace original windows ($$$), no insulation in ext walls/attic ceilings. We bundled up instead of turning up the heat b/c oil is so expensive!
5) water is inexpensive, everything else though is 2-3 times more than it was in the midwest, especially home repairs and renovations.
6) those beautiful stone walls or fences you see all around the area? They cost thousands of dollars. Double digit dollars.
7) grieved our taxes only to have it raised back up to original amount 2 yrs later. Whenever house bills feel tight - this is when I regret not looking into CT where the taxes are so much lower!
again, thank you to the forum for the wealth of insite and hope this update helps another.