Home Buying in New York>Question Details

Twilight, Home Buyer in New York, NY

I'm looking to buy a house (250K) range within walking distance of NYC transport. I don't have a car right now, but would want to have the

Asked by Twilight, New York, NY Mon Jul 5, 2010

option of public transport anyway. Are there any homes available?

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Have you considered Hempstead on Long Island? I lived there for 7 years, it's home to Hofstra University, there are hip enclaves in the town you might really like.

You can get a house with a yard in your price range within walking distance to the Long Island Rail Road (LIRR) station, or you can bike or take the frequent bus service from a house further away. I commuted by foot or years, walking along Hempstead Turnpike back and forth to the LIRR station.

Another place is Valley Stream, which offers a shorter commute to NYC and great LIRR service, but it would be harder to find a house in your budget. I just checked and did find a few listed, however. There are houses in Queens to consider as well, but I don't know about those areas, so I couldn't help you with them.

You'll probably need 20% down payment plus several thousand in closing costs unless you have a high FICO score, in which case you might get away with less down payment. Ram is the expert, he can help you figure out a financing strategy that works for you. Closing costs should include a home inspection, which costs $400-$600, in addition to attorney fees ($1500-$2500) and filing fees (a few hundred) and mortgage tax. Taxes are higher in Nassau than in Queens, but remember we do not have a city income tax.

Give me a shout if you're interested in considering a purchase in Hempstead.
Karla Harby, VP
Charles Rutenberg Realty, New York City
kharby@crrnyc.com
1 vote Thank Flag Link Wed Jul 7, 2010
Hi Twilight,

You might also want to consider Westchester County. There are single family homes in your price range and that are close to the Metro North Railroad. Towns to consider are Peekskill, Verplanck, Cortlandt Manor, Buchanan, Goldens Bridge, Ossining, Sleepy Hollow, Pleasantville, White Plains, Port Chester, Mamaroneck, Yonkers, Mount Vernon and New Rochelle.

Metro North has 3 lines that run through Westchester County: the Harlem (blue), the Hudson (green) and the New Haven (red). Here is a map of those rail lines:

http://mta.info/mnr/html/mnrmap.htm

Click on each station for commute time and prices.

Robin Lynch
Keller Williams Realty Group
914-315-6182
0 votes Thank Flag Link Fri Aug 6, 2010
If you are looking for a house and not an apartment, forget NYC. You can get a house in Putnam County and easy walking distance to Metro North. I did a quick search in Brewster just a few minute walk to the train and found a cute little 3 bedroom cape cod on 1/3 acre for $189k. What you're looking for does exist in this area. To be realistic though you have to realize it's about an hour and fifteen minutes to Grand Central in the morning.
Don
Web Reference: http://www.nyhomeseller.com
0 votes Thank Flag Link Sat Jul 17, 2010
Hi Twilight. Your price range may exclude houses. Your best value would be a Coop but that may depend on your ability to put down at least 20%.

Feel free to contact me if you would like to discuss this further.

Joseph C. Hastings
C: 917-579-1502
Prudential Douglas Elliman Real Estate.
0 votes Thank Flag Link Fri Jul 9, 2010
Hello Twilight, if you want more than a studio Staten Island may be option for you with many affordable homes in close proximity to the Ferry and Manhattan express buses.
Web Reference: http://www.clovelake.com
0 votes Thank Flag Link Fri Jul 9, 2010
Twilight,
Yes, there are neighborhoods where you can get a studio for $250K.
0 votes Thank Flag Link Mon Jul 5, 2010
That could get you a decent studio apartment in the city
0 votes Thank Flag Link Mon Jul 5, 2010
If you haven't visited with any qualified loan officer(s) yet, consider doing so--see if you qualify and exactly what your budget can handle. You have choices regarding neighborhoods, such as in Queens, Brooklyn, Western Nassau County, etc., however you really need to have a mortgage pre-qualification/approval letter--you can check out http://www.mlsli.com under properties for sale in various Queens and Nassau County neighborhoods--Brooklyn is a different MLS--or consider working with any agent.
0 votes Thank Flag Link Mon Jul 5, 2010
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