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Old 05-18-2015, 05:09 PM
 
Location: Chicago
5,559 posts, read 3,944,855 times
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Hi,

My wife and I are retired and will be moving to Stamford next week and will be renting for a year. Our original plan was to move somewhere in lower Westchester but there were literally no vacancies except for a few shabby 2 bedrooms (we used a real estate agent who basically directed us to look outside of Westchester).

While we were searching it was politely suggested that we should not consider Port Chester so, given time constraints, we didn't check it out other than getting a parking ticket while eating at a Columbian restaurant on the main drag.

Now we are going to begin looking again to possibly buy (though I have problems with buying a condo after my poor experiences in Chicago), and I am still wondering about Port Chester. Given the thin market I hate to rule out any area so what is the scoop with Port Chester? One person I spoke with in Stamford grew up in Port Chester and he said he loved it. The good, bad, and ugly about Port Chester?
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Old 05-18-2015, 07:02 PM
 
Location: Where my bills arrive
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Port Chester is a modestly priced diverse town (yes there are people there who aren't rich) surrounded by some of the most expensive communities in the country. It's diverse with a busy main street big box as well as local stores and a metro north station right in town. Check out the real estate and see if works for you.
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Old 05-18-2015, 08:13 PM
 
Location: Chicago
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Thanks for sharing your thoughts. Appreciate it.

One thing that does bother me about Port Chester is the politics, especially given the issues revolving around the building inspection department scandal. Gives me pause for thought when considering a condo purchase on top of all of the other issues associated with condo governance.
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Old 05-18-2015, 09:48 PM
 
2,303 posts, read 1,931,579 times
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Check out the real estate taxes in PC and you will quickly realize why people prefer Fairfield Co. Also remember you would have to pay NY income tax which is at least 5% more than CT's. Frankly, both are dying areas. NYC will see a Chicago style downturn in the next 3-4 years, which will take what ever looks like it's shiny and new (like Westchester and Fairfield Cos.) down.

If you are retired moving anywhere in CT and NY makes no sense. If it is family that bring you here, just get a small place somewhere warm and just visit. The tax savings alone would pay for several trips per year.
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Old 05-18-2015, 10:07 PM
 
Location: Chicago
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Thanks for the insights. It's not just family which brings us into the area it is also the cultural milieu. I just can't see myself vegetating in a place where I feel I would not be growing during my final stage of life. I've looked over the map time and time again and nothing seems right except this area. There is a reason millions of people are willing to pay more to live in this area. Unfortunately political corruption makes the area even more expensive than it would be otherwise.
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Old 05-18-2015, 10:12 PM
 
2,303 posts, read 1,931,579 times
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Quote:
Originally Posted by richrf View Post
Thanks for the insights. It's not just family which brings us into the area it is also the cultural milieu. I just can't see myself vegetating in a place where I feel I would not be growing during my final stage of life. I've looked over the map time and time again and nothing seems right except this area. There is a reason millions of people are willing to pay more to live in this area. Unfortunately political corruption makes the area even more expensive than it would be otherwise.
The difference in cost is staggering. I moved a relative to the NorthEast from a lower cost area. They managed to live on their SS quite comfortably. I now have to give them money just so they break even. Think very carefully about what you are about to do.
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Old 05-18-2015, 10:16 PM
 
Location: Chicago
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Financially we'll get by though with the Federal Reserve ZIRP policy we are being crushed as are all economically prudent who believe savings is a better idea than massive debt. It comes down to how to live a life. My child will have less inheritance but he is glad we are nearby if he needs our help. Life is always a matter of compromise.
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Old 05-19-2015, 07:34 AM
 
587 posts, read 563,167 times
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Economics aside, Port Chester is a very diverse town with some reasonably priced real estate (Condos, Co-ops). There is a huge Hispanic population there, mostly Peruvians and Colombians, I'd say. The town is easily accessible via I95 and I287. As mentioned before, they have a Metro North station as well for access into NYC. My only knock on PC is that certain parts of this town look very run down. Other parts are pretty nice though. When in town, check out Misti's Pollo A La Brasa on Main St. Try their Lomo Saltado!! It is awesome!! . I moved to Charlotte, NC 5 months ago and their Lomo Saltado is one of the few things I miss about NY. I'm actually visiting NY this weekend and will most definitely be going to Misti's for Lomo!! Just a little fyi......
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Old 05-19-2015, 07:37 AM
 
Location: Chicago
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Thanks for the info and tips Keeros!

Will do as you suggest.
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Old 05-24-2015, 08:37 AM
 
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Yuptag do you still think that downturn is coming? No sign of it yet tat I can see in nyc, though in my suburban town (Ossining) prices are way downfromtwo years ago and beautiful homes in lovely neighborhoods are extremely well-priced...
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