Hello Everyone, My name is Zee and I have been following Streeteasy for the past 3 years now (lurking and reading discussion boards). I was in college then but have now graduated and looking to learn pick up as much information as I can. I have made the decision to live at home with my parents specifically because I want to save at least 75% of my salary (after taxes for the next 2 years) and then... [more]
Hello Everyone,
My name is Zee and I have been following Streeteasy for the past 3 years now (lurking and reading discussion boards). I was in college then but have now graduated and looking to learn pick up as much information as I can.
I have made the decision to live at home with my parents specifically because I want to save at least 75% of my salary (after taxes for the next 2 years) and then buy a place (my folks might also put down like 20K, which I know isn't really a lot but it is something). I hope to have at least 80K of my own money to invest in a home.
I really really love brownstones and would love to purchase one. If I can't get that then I will settle for a really nice 2/3 bedroom apartment. I would love a place close to a park. If park isn't available, then I want natural light and good views.
Harlem, Brooklyn, Astoria, and Jackson Heights are the places that I like the most. First for the diversity (arts and business mix), 2nd for urban feel, and third because I feel like their property prices will increase.
My questions are:
1). What areas should I keep my eyes on? I do not want to go where everyone is going right now because in 2 years my 80 - 100k might not buy me a great investment.
2). Is anyone even looking at the Bronx? My folks have an investment property there and although the neighborhood isn't exactly teeming with the next tech billionaires I feel like some of the apartments in the bronx would be great. Only problem is I am not sure I could live there. BUT I am open to it (as long as I find a place close to the city and not terribly run down).
Thank you for any your time.
Best,
Zee
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Response by BBWolf35
almost 12 years ago
Posts: 3
Member since: May 2009
Queens is attracting a number of buyers from Brooklyn who have been priced out of the market. That fact is driving the market up. You mentioned the Bronx and I am hearing that will be the next "Hot" area. The best wasy to investigate is to go into a neighborhood and see how it feel for you. Go to a few open houses. Look at property first hand. Shopping the internet is fine but you need to look at property first hand and up close.
Queens is attracting a number of buyers from Brooklyn who have been priced out of the market. That fact is driving the market up. You mentioned the Bronx and I am hearing that will be the next "Hot" area. The best wasy to investigate is to go into a neighborhood and see how it feel for you. Go to a few open houses. Look at property first hand. Shopping the internet is fine but you need to look at property first hand and up close.