nah I mean Queens got a lot of nice black areas. Tell me more about the house buying process. How much you put down? The value, heat/oil, all dat. you gonna rent out he basement?
I'm looking at a luxury condo, not the ones I linked to but another one pretty close to Flushing. Everything is taken cared for as far as monthly costs in the maintenance fees aside from electricity. Most units these days come with an AC/Heater and washer and dryer. We have enough to put down for 30% of something between up to about $580K. Once you put down 25% or more, than its easier to get a loan at a low rate and your credit score helps too. This won't have basement. we chose condos because we don;t feel like dealing with the maintenance of a house and quicker resale, also this specific building we're trying for has a tax abatement for 25yrs (the building is almost 2yrs old) , so we'd have 23 more years of paying property tax for like $70 which is prolly about 20% of what the full property tax should be once the abatement ends. The tax abatement was used to have investors invest in building housing in areas that weren't too great. It was an incentive. So what's happening is now other investors are targeting these same areas and following with putting up condos also. The thing is you have to move fast when you see the first one go up, the others might not have that tax deal. But I've been looking in BK, Queens and even some of Jersey. Jersey's property tax is thru the roof. With areas developing also come more higher rent, which seem to be more than mortgage payments. We are trying to live comfortably and still get a piece of the NY real estate pie.