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Old 08-27-2012, 06:43 AM
 
5 posts, read 7,421 times
Reputation: 10

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I am originally from NYC and have found a new home in Yonkers after living here for the past three years. Love the suburban lifestyle and how close Yonkers is to the city. I enjoy how Yonkers offers much diversity, and how much there is to do in this big city. I just feel Yonkers is convenient with everything close by including highways. I am literally 10 minutes away from everything: movie theaters, shopping centers, gyms, hosp and work. We're an upper middle class couple, fiancee and no kids. I have a great job and my fiancee is a registered nurse in NYC. So we're comfortable, at least for now. Eventually we want kids and I know most will say to stay away from Yonkers because the public school system here is a horrendous and the high crime. I have heard it all: high taxes with no benefits, corrupt government, poor school system, high crime and possibly bankrupt. I certainly want the nice home with white Pickett fence etc, but I am also willing to compromise at the moment. I live nearby the Fleetwood area of Yonkers and I understand Yonkers is not Ardsley, Scarsdale, or one of the other more prominent Westchester towns/villages. I did look into Yorktown, Cortlandt and Carmel, but I just don't feel like driving 1 to 2 hours daily making my work day a 10 hour day. However after looking through many homes online I see smaller, older homes at the price range I have been looking at. And I've come to realize people are willing to settle for smaller older home (that requires work) simply for a good school system. I know I am getting carried away with this post, but i'll just get right to it. I found a two family home for what I think is a great price. At the height of the market this home was worth at least 150k more than what I might potentially get it for. Doesn't need much work and it has a decent size lot. I see single family homes go for as much as this multi unit's asking price with less perks. I'll hope to have rental income and equity with a high appraisal. We can afford the morgage with both of our salaries with anticipation of having a 2-3 months vacancy/problems.

This home is in the Park Hills section of Yonkers, near mansions and larger homes right off McLean ave. Most homes around the home in question are well kept and you can see there's a sense of ownership pride in this particular area. It's west of the Major Degan highway, and I am aware the further down you go on McLean ave the crappier I know it becomes. I've been to less desirable areas of Yonkers and this particular location appears to be fine to me. I've seen it all living in NYC so I don't think Yonkers can possibly even come close. I did drive by Warburton ave and was blown away of how undesirable and dilapidated the area appeared. I was reminded of Brooklyn's Bed Sty area. And lastly, will I have a hard time renting a 2 bedroom unit to a decent tenant in this area and what prices can I anticipate to get for this 2 bedroom unit? Also I don't want to anticipate selling 5-7 years from now simply because kids might be on the way, so this will be a permanent move. Thanks for all the insight and your opinions.
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Old 08-27-2012, 11:37 AM
 
4,787 posts, read 10,577,880 times
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I know that area well. Park Hill Ave. at either of its ends, terminates in rather dumpy, undesirable areas.
So you have a few/several blocks of lovely homes with transitional, not so nice areas nearby.

Are you planning on having children ? Yonkers schools, for the most part, underperform. I would check into the cost of either private or parochial school tuition - it may break your wallet, especially if you are paying for more than one child. Sometimes the savings you think you are getting for a home, are mitigated by the extra expensive of decent,safe schooling for the kiddies.

I would also call the police department and ask them about crime in the area. Areas like Park Hill, while lovely in themselves often attract property criminals from the nearby rotten areas ( which after all, are only a couple / few blocks away.) .
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Old 08-27-2012, 07:35 PM
 
581 posts, read 1,166,422 times
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Don't buy. You do not know where your life is headed.
And why buy in an area you don't want to send kids to school? Stupid.
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Old 08-27-2012, 08:55 PM
 
5 posts, read 7,421 times
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Quote:
Originally Posted by ShouldHaveLeft914 View Post
Don't buy. You do not know where your life is headed.
And why buy in an area you don't want to send kids to school? Stupid.


I never stated I wouldn't send kids to school here in Yonkers. There are several good private schools here and I've heard of some charter schools with limit capacity I could apply for. I don't solely want to base my home buying decisions on schools only, I want to look at the whole picture. Best bang for my buck, close proximity to work, the city and other amenities Yonkers offers. I think some people here are a bit turned away at certain neighborhoods primarily because it offers an abundance of ethnic diversity. And some here have been sheltered their whole lives so seeing a "different" ethnic group in the neighbor might sway them away from buying into it. I was born and raised in NYC so as bad as it may seem to some, Yonkers is a big step up in finding a suburban home. Same can be said for NYC, you have projects surrounding million dollar condos and property value is not impacted by these factors. Low income housing and bad areas can be found practically everywhere, another good example is the village of Tuckahoe, they have projects next to some georgeous homes. I just think some people have these negative perceptions solely based on isolated incidents or convoluted info. As stated before, I know Yonkers has its shortcomings and I'm well aware of the schools but unless I get some "substantial" evidence saying the contrary I think I'll probably continue to live here. I have friends that live in northern yonkers border Hastings and area is great. In fact a Yonkers Liutenant police officer lives right across from him.
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Old 08-28-2012, 07:32 AM
 
581 posts, read 1,166,422 times
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Where do you work?

Paying taxes and sending kids to mediocre caliber private school (Catholic, etc) is a total waste of money.
If you want to talk private schools, talk Ivy league feeders like Hackley.
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Old 08-28-2012, 08:08 AM
 
Location: Bellevue, WA
1,488 posts, read 4,105,308 times
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"I think some people here are a bit turned away at certain neighborhoods primarily because it offers an abundance of ethnic diversity."

No, I'm turned away because it offers an abundance of crime.

As for Yonkers, the whole city is a mess. They are running deficits that would make the US government blush. It's not an up-and-coming area, so you are looking at the best it will ever be in the near-term. Buy the best neighborhood you can afford. I cannot tell you how many people I know that bought starter homes in bad school districts to save up for when they had kids. Guess what? 5-10 years later, they still can't sell, have 2-3 kids living in a 2BR co-op, and indeed are sending their kids to the crappy schools. There are no bargains in Westchester. It's all a tangled weave of cost, proximity to NYC, schools, crime etc.
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