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It looks like you can get something on Grandview Ave: 4 beds, 2 baths at 2,910 sq ft in Ardsley, NY (40 minutes from Midtown) for $650,000. Based on tax rate, may be $13k in taxes?
The maintenance costs and taxes at Boulder Ridge come to about $36,000 yearly, they want to spend less than 20 grand yearly just on taxes, but I agree with you, Boulder Ridge is a great development if affordable, I especially love the Olympic size pool!
The maintenance costs and taxes at Boulder Ridge come to about $36,000 yearly, they want to spend less than 20 grand yearly just on taxes, but I agree with you, Boulder Ridge is a great development if affordable, I especially love the Olympic size pool!
Completely pointless to move to the burbs and buy a townhome.
Completely pointless to move to the burbs and buy a townhome.
Not necessarily. They're more affordable on average, and if you are able to locate a home in a decent community with a low maintenance it can be a good alternative for someone who would otherwise be priced out of single family homes in many parts of Westchester.
Also, coming from the perspective of a 1st time (inexperienced) homeowner, we opted to buy a newer town home over a much older single family home, because we weren't confident about buying a 1940's and prior era home and the possible issues that could arise. New construction here under $1-2 million is basically non-existent, so our newer town home was a good compromise for the peace of mind of not having to replace things or make structural repairs in the near future. Many of the older homes in Westchester have propane/septic systems, or other retrofits which are fine, but can be daunting if you've never dealt with that before.
Also, in the OP's situation, a townhome in Westchester with a family of 5 with a deck, and a yard/outdoor space may be far preferable to an urban apartment, even if if some Westchesterites may look down upon it as a inferior housing choice.
Not necessarily. They're more affordable on average, and if you are able to locate a home in a decent community with a low maintenance it can be a good alternative for someone who would otherwise be priced out of single family homes in many parts of Westchester.
Also, coming from the perspective of a 1st time (inexperienced) homeowner, we opted to buy a newer town home over a much older single family home, because we weren't confident about buying a 1940's and prior era home and the possible issues that could arise. New construction here under $1-2 million is basically non-existent, so our newer town home was a good compromise for the peace of mind of not having to replace things or make structural repairs in the near future. Many of the older homes in Westchester have propane/septic systems, or other retrofits which are fine, but can be daunting if you've never dealt with that before.
Also, in the OP's situation, a townhome in Westchester with a family of 5 with a deck, and a yard/outdoor space may be far preferable to an urban apartment, even if if some Westchesterites may look down upon it as a inferior housing choice.
It's a better deal to rent the same townhome. They are very difficult to sell. More difficult than SF.
Completely pointless to move to the burbs and buy a townhome.
Speak for yourself. It may work for OP given the tight budget. A townhome still gives her more space than NYC apt, and the burbs have better school for her 3 children. Obviously there is a market for these homes otherwise they would not exist. The market for them is much smaller than SF homes.
I'm under contract right now to purchase a home in Westchester for $850k with 20% down ($680k loan amount) and my rate is 3.625% 30 year fixed through Wells Fargo with low closing costs/no points. Total payment all in with taxes is a hair under $4,700/mo (again, your numbers are correct assuming they are PITI rather than PI).
Regarding whether OP should pay 50% of OP's take home on housing is definitely a personal choice; depends on how much his family is capable of living frugally. I agree though- living in westchester is wildly expensive outside of just housing costs, so things will be very tight. $5k/mo for all expenses for the entire family will require very good budgeting in this area.
My home meets OP's requirements in terms of size but it's a good 10-15 minutes drive from the nearest train so would be a crappy commute for OP. It happens to be about 6-8 minutes from my employer though so I'm happy here
Not really. The stay at home spouse can cook and can watch the kids after school. 5k net per month is plenty.
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