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Here's Looking At You NYC.....

By
Real Estate Agent with Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605


NYC Skyline from Irvington NYThe picture I snapped of the NYC skyline from Irvington NY on a sultry summer night was taken to make a point.   New York City is becoming increasingly expensive.  Friends of mine looking to purchase or even just to rent tell me tales of  spiraling costs.  So what about considering a move to Westchester?   I know, I know  some people will only consider New York City – anything less is blasphemy.  But if the cost of living is killing you, Westchester is not the moon.

 

In fact, the commute to midtown Manhattan from Westchester  can be less  time consuming than from some points in  Manhattan.  Just board a comfortable, air conditioned Metro-North train and relax, read, sleep or get some work done.  The time is more productive than the crowded subways and  in roughly 30 minutes, you are there!  No muss, no fuss.   Now there are caveats to this easy commute.  First and foremost, you need to be near a train station or be in a town that has adequate transportation to the train.  However, with a bit of flexibility on the buyers side,  you can easily  find a condo, coop or even a single family home that will have a lower overhead for less money.  For municipalities and train schedules see my web page on the three Metro-North train lines.

My father used to call Larchmont NY the “borough in the burbs.”  He gave it that name because he found a living arrangement where he had the best of both worlds. He really loved the city  but living in Westchester  allowed him to afford a home with enough space for a large home office and plenty of storage.  It was about 1.5 blocks from the train station and the village proper.  He hardly used his car and door to door his commute was less than one hour with about a 0.5 mile walk to the office from Grand Central.  There was plenty of dining in the neighborhood, so when he came home he could eat out or in as he chose and there was green space along with the peace and quiet even though he was on a relatively busy street.  On the weekends he enjoyed the parks along the Long Island Sound and yes, the nightlife of his local neighborhood.

Today, an 850 sf 1 BR cooperative in the luxury doorman building where he lived costs about $200,000.  Maintenance fees and taxes are less than $900 a month.  Try  finding anything close to that anyplace in Manhattan.  Several towns and villages offer a similar lifestyle at competitive prices.   Bottom line, if you are cramped for space and wondering how you are going to squeeze one more thing into your tiny closet that doubles as home office space, maybe you should consider Westchester.  You can a whole lot more comfortable both financially  and physically.

 

© 2012 – Ruthmarie G. Hicks – http://thewestchesterview.com

Here's Looking at You New York City

Comments (8)

Andrea Bedard
Thompson Company, REALTORS® 240.593.2860 - Silver Spring, MD
Fluent in Real Estate & German, M.A. ABR ASP CIPS

Hi Ruthmarie, I have some friends who just moved out of NYC for pretty much that reason! Sometimes you just want to get away from it all and enjoy some peace and quiet... the 'burbs offer just that. Close enough for an easy commute yet far enough to enjoy a slower paced life ... and they were able to purchase a detached home, impossible in the city.

PS: I should have told them about Ruthmarie Hicks and Westchester!

Aug 19, 2012 12:10 PM
William Johnson
Retired - La Jolla, CA
Retired
Hi Ruthmarie, as I hear more and more the costs in NYC, I have stopped complaining about high prices in the SD. You would find it a bargain and you sure can't beat the weather, :-)
Aug 19, 2012 02:06 PM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Ruthmarie what a lovely shot.   You are so right, you do get more for your money in the burbs,

Aug 19, 2012 02:32 PM
Ruthmarie Hicks
Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605 - White Plains, NY

Hi Andrea, The slower pace is allowed in part because everyone isn't scrambling to keep up with the cost of living.  Even though Westchester is very expensive.  (A cooperative is not a condo - becuase you only own shares in the complex -not even real property) so $200k is no bargain.   But in Manhattan anything similar is around $500k.   Condos are out of reach for all but the most affluent Manhattanites.   So Westchester is a viable alternative. 

Hi William - NYC is out of control.  A friend of mine said she got a bargain.."Only $5000 a month for a 2 BR!"  She was right that IS  a bargain.  But Westchester is also up there.  A rental in a high end luxury building can be about $5000.  The difference was that no one thinks that's a bargain in Westchester and that's really high end.  The other was just an ordinary building. 

Hi Jennifer...Even though it really isn't a bargain.  Those being priced out of Manhattan who look upon the burbs as a fate worse than death, need to rethink their stubbornness.  It really is out of range for most people. 

Aug 19, 2012 02:59 PM
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT

Ruthmarie - When I lived at 76th and York, it took me 45 minutes to get to my office in midtown.  Sometimes the burbs are not just cheaper, they are quicker.  The noise and intensity of the City also require some out of the City retreat - so that is another expense.

 

Aug 20, 2012 10:15 AM
Hillary Sheperd
Servpro of Scarsdale / Mount Vernon - Scarsdale, NY
Co-Owner ~ Servpro of Scarsdale / Mount Vernon, NY

Ruthmarie ~ Too true of most urban areas.  Glad that goddesses of RE like you are on the ground and catch them for a soft landing in the quieter and more tranquil, less polluted (noise and air) "burbs."  Could not go back to cave dwelling in the city, especially with our two huge dogs like yours!  Cheers

Aug 21, 2012 01:41 AM
Ruthmarie Hicks
Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605 - White Plains, NY

Hi Gail - It looks like you are doing well - I saw a whole pile of listings on your site - GREAT WORK!!!  This is aboslutely true.  What I was describing was my father's building.  I would have moved in there myself if they had allowed the dogs :-( It couldn't be more conveniant and the space was amazing for the money.  Right now coops have hit rock bottom.  I don't see them going lower because although the prices are down sales volume is UP.

According to a friend of mine who has been looking in NY (sorry Mitchell - by the time I knew she was looking she had a broker!) on the upper west side which isn't the most expensive place in NYC.  Coops of about 700-750 sf begin at about $500k and the maintenance/taxes are running $1300-1400  a month.  The quality of building that she was looking in was very similar to my father's high-end cooperative buildng in Larchmont.  So this enabled me to do an apples to apples comparison.  

In my father's doorman building - 1 BR units totally redone - new EVERYTHING are selling for about $200k and the square footage was between 800-900 sf.  His unit was almost 900sf - the kitchen was a major gut renovation - so it sold for $180k.  Maintenance/taxes were under $850 a month. About a block from the train - the commute simply doesn't get any easier even if you are IN Manhattan.  

The savings are over the top!  Compare that to NYC and you are looking at a differnce of about $1600 a month in outlay (mortgage and maintenance combined) and about $60k less in outlay assuming a 20% down payment. Yes you have the rail commute (an argument I've heard from city fanatics)  but come on!  Even for a couple the cost of the commute is dwarfed by the savings.

The downside is the dog issue.  New York City is very dog friendly and Westchester is not.  The manangement and board should take note that I could have sold four more just like it  if they had allowed things that go "woof!".

 

Hi Hillary - But some people are die hard New Yorkers...but at some point the obesssion becomes absurd.  There are many who simply can't afford it.  In fact the average American simply can't afford it.  

Aug 21, 2012 02:32 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hi Ruthmarie -- I really enjoyed this post and while it may be difficult to convince some in Manhattan to move -- you make a convincing argument to do so -- quality of life, less expensive and yet still convenient to the city.  Afterall, you don't need to convince everyone in NYC to move your way --- Westchester just isn't THAT large.

Aug 25, 2012 03:43 AM