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Our family of four will soon be a family of five and our Manhattan apartment is starting to look very small. In addition to our human babes, we have a dog and two cats. We wouldn't buy until this summer but the current market isn't promising. My husband and I have been trying to find affordable homes zoned for great schools within 40 minutes to grand central and we're coming up empty. That's not totally accurate, we're coming up too small. We're planning to living on one income so my husband can reduce his hours and stay home with the new baby. Therefore, we're working with an income of 210k before taxes and we're hoping to spend no more than 750k on the house with a tax bill <20k. We're also planning to put 10% down. Minimum square feet of 2000. The only town that is coming up for us is White Plains but the schools aren't particularly strong.
To be brutally honest, your requirements are going to be really tough to satisfy without letting up on some of the criteria you mention. Almost everyone is looking for the exact criteria, so the competition over the small number of homes that actually fall into it is fierce.
As I understand it, you are looking for:
Good schools
Large house (2000+ sq ft)
Low-ish price ($750k)
Quick commute (within 40 mins to GCT)
Lowish taxes (<$20k)
Given the income you mentioned, I'd maybe suggest sticking to your upper limit on purchase price and taxes and instead compromising on either the square footage, the schools or the commute time. Keep in mind that the 'OK' schools in Westchester are still significantly better than many other parts of the country. This will increase your options. Also, you might consider looking at older or 'fixer upper'/less updated homes, condos, or houses further North. Peekskill and the Croton area are becoming increasingly popular and have a lot of newish housing stock, but your commute time is going to be at least an hour to GCT.
Why not looking in Rye Brook or western side of Greenwich (cheaper taxes in CT).
Doubt there will be any SFH in Rye Brook under $750k (in Blind Brook school district), and taxes would be approaching $20k anyway at that price point. Western Greenwich is a good suggestion, specifically would target Glenville as opposed to Byram, but again slim pickings at that price point (could probably raise budget given significantly lower Greenwich taxes [4-7k in Greenwich vs 18-20k in Rye Brook]).
Take a look in Katonah or Pleasantville? Will fit most of the criteria pushing commute.
Houses under a million sell in 5 minutes. Someone I know in pville put his house up for 700k on Thursday. Had 5 offers by Sunday, eventually selling for $750k. All cash. No one is taking a 10% down offer seriously.
If you buy at the top of your budget your P&I payment alone will be $5K. That is not affordable on $200ish gross. Stick to $500Kish and look further north and you'll have a better shot at success.
Our family of four will soon be a family of five and our Manhattan apartment is starting to look very small. In addition to our human babes, we have a dog and two cats. We wouldn't buy until this summer but the current market isn't promising. My husband and I have been trying to find affordable homes zoned for great schools within 40 minutes to grand central and we're coming up empty. That's not totally accurate, we're coming up too small. We're planning to living on one income so my husband can reduce his hours and stay home with the new baby. Therefore, we're working with an income of 210k before taxes and we're hoping to spend no more than 750k on the house with a tax bill <20k. We're also planning to put 10% down. Minimum square feet of 2000. The only town that is coming up for us is White Plains but the schools aren't particularly strong.
If you can move on the train time, look further north. Briarcliff, Croton, Yorktown, Cortlandt all have good schools and far lower price points, but the commute is longer. Though croton is the last express stop and its really much faster than many towns south of it. Most trains are croton and then grand central, so its far quicker that trains further south that make 5 or 6 stops.
I suggest you look in White Plains. I'm a graduate of White Plains High School, and returned to raise my kids in the White Plains schools. Many of my classmates did the same thing, and many other folks are happy in the White Plains schools. I'm happy to speak with you if you'd like, to address any concerns you have about our schools.
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