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Old 02-06-2017, 10:38 AM
 
249 posts, read 289,681 times
Reputation: 134

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My parents are both either about 6 months or a year and six months from retirement (they are undecided), and are considering moving from South FL to the NYC metro area (i know, opposite of most people!).

They love NYC, but want somewhere that is quieter, but with easy access to the city.

Ideally, they'd like to be in a place with very easy access to Midtown NYC, within 45 minutes, that is safe, and has some urban life to it, but is not overly hectic and grungy either.

They will be looking to buy, with a budget of about 150-200k can maybe stretch to 250k, condo/co-op, and the three most important things for them are safety, easy access to NYC, and low key urban vibe, and the quality of schools does not matter.

New Rochelle is one of the places they've thinking about, along with places in New Jersey...any other towns they should check out? And opinions on New Rochelle for a retired couple in their 60s?

Thanks!
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Old 02-07-2017, 06:18 AM
 
65 posts, read 57,195 times
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Even 250 sounds very low firva condo in any area with easy access to NYC. They should be prepared for high monthly maintenance fees as well. Are they prepared to live in a studio? Maybe could find a one bedroom, but I would look very closely at anything offered in those price ranges.
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Old 02-07-2017, 06:31 AM
 
892 posts, read 880,908 times
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Quote:
Originally Posted by HellaGoose View Post
My parents are both either about 6 months or a year and six months from retirement (they are undecided), and are considering moving from South FL to the NYC metro area (i know, opposite of most people!).

They love NYC, but want somewhere that is quieter, but with easy access to the city.

Ideally, they'd like to be in a place with very easy access to Midtown NYC, within 45 minutes, that is safe, and has some urban life to it, but is not overly hectic and grungy either.

They will be looking to buy, with a budget of about 150-200k can maybe stretch to 250k, condo/co-op, and the three most important things for them are safety, easy access to NYC, and low key urban vibe, and the quality of schools does not matter.

New Rochelle is one of the places they've thinking about, along with places in New Jersey...any other towns they should check out? And opinions on New Rochelle for a retired couple in their 60s?

Thanks!
They are in the extreme low end of the price range for lower westchester, but might be okay further north. Jersey is certainly an option, but again, that is on the low end. Best of luck. You might want to call The Buyer's Edge Ralty in Tarrytown. They are an exclusive buyers agent and can help quite a bit. News | Real Estate Broker Tarrytown, NY | Buyer's Edge Realty
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Old 02-07-2017, 08:58 AM
 
249 posts, read 289,681 times
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Thanks! Doing a quick search in a place like New Rochelle seems to show a lot of one bedroom co-ops within the price range...would those be in a bad area or something?
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Old 02-07-2017, 09:43 AM
 
221 posts, read 451,335 times
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The budget is tight, but if they insist on living in NY they may want to consider the city. In Westchester you're going to have property taxes reflected in your payment in one form or another. In the city, the property is substantially less but their is an income tax. Assuming they're moving to a fixed income, this income tax may be minimal.


They're a lot of nice neighborhoods in the Bronx and Queens that may be worth considering.
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Old 02-07-2017, 11:52 AM
 
892 posts, read 880,908 times
Reputation: 1164
Quote:
Originally Posted by HellaGoose View Post
Thanks! Doing a quick search in a place like New Rochelle seems to show a lot of one bedroom co-ops within the price range...would those be in a bad area or something?
New Rochelle has some great areas and some that are not the best. It is worth visiting to be sure. Call that agent I listed. He is a buyers agent and will talk to you for free. He doesn't list property, just helps you find what you want. Guys like that know more information about more areas than most people on a message board like this. Again, best of luck.
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Old 02-08-2017, 08:08 AM
 
186 posts, read 362,739 times
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Please have your parents focus on 55+ retirement communities if they want to save on fees/taxes. There is a website www.55places.com/newyork that lists options to buy. None of these are in lower westchester or near a train station. It is going to seem crazy to you, and I don't know where you live, and the apartments are NOT upscale, but the MOST affordable way to move your parents from a retirement friendly area(FL) to metro NY - thinking ahead to their safety and finances, would be to meet with an attorney (there is a great one in White Plains, PM me if you want name) to put their assets in trust, so they can still pay for what they want here, but then be eligable for income regulated housing if it ever comes to that. Also, there are senior rental buildings in Rye, White Plains, maybe Port Chester& New Rochelle - you have to get on a list and wait times can be 2 years or more, but overall it is more affordable to trust your assets and rent rather than buy due to savings in taxes/common charges in non retirement places... Also, it seems expensive at first glance, but if they are independent you can get in at a lower cost to the assisted living places Brightview is great Atria. If you add up all the costs of housing here - it really isn't that bad as they include meals, utilities, housekeeping, etc., once again, HAVE THEM DO A TRUST - the look back for assistance is 5 years here in NY, you will no longer have many choices if they run out of money someday....good luck
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