Asked by Hfahmad, Westbury, NY • Thu Apr 26, 2012
I am looking to buy a 1BR in Clinton Hill this fall at $250,000 or less with 10% down. I have very good credit and my parents with excellent credit can co-sign a mortgage. I would like to find a sublet-friendly coop as I will most likely be living abroad at some point for a limited time (about two years). I have two concerns:
1. Will the ever increasing popularity of North and Northwestern Brooklyn cause a spillover into Clinton Hill, and thus an increase in home prices in the next 5-7 years?
2. Would a 1BR in this area be marketable at a rental rate, one or two years hence, that would cover mortgage and maintenance?
Thanks in advance for your advice!
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