New York City is divided into five areas commonly known as boroughs. They are
Manhattan, Staten Island, Queens, Brooklyn and The Bronx. And as one would
assume some areas like Manhattan are cost-prohibitive to many people while other
areas such as the Bronx are more affordable.
While Staten Island is generally the second most expensive area next to
Manhattan, there are still subdivisions of Staten Island that provide affordable
real estate. For those commuting to Manhattan, living in Staten Island and
commuting by ferry may be much cheaper than living in Manhattan. One of those
areas is West Brighton on the north shore. Recent sales listings show homes
selling between three hundred and five hundred thousand dollars.
Further, some of the newly constructed properties are coming with an eight year
tax abatement, which makes Staten Island property even more affordable. And even
though there is a huge demand for empty land on which to build, prices still
remain economical for people relocating to areas of Staten Island. Current
townhouse prices are between two hundred and five hundred thousand dollars.
Staten Island is actually the borough to which many New Yorkers upgrade when
looking for affordable but more appealing relocations.
According to a recent New York Times newspaper article, Woodside, Queens is a
favorable location for many reasons including its proximity to Manhattan, easy
access to public transportation, a melting pot of cultures, and low crime.
Another area of Queens that offers affordable quality property is Bayside with
its eager community involvement associations and highly rated schools. It should
be noted that affordable homes in Bayside sell for, on average, six hundred
thousand dollars. One of the advantages that makes Bayside appealing is the
lower property taxes compared to other nice areas.
Brooklyn has a few very nice neighborhoods in which to find affordable real
estate. Carroll Gardens, which is full of history and is actually named after
the Revolutionary War veteran who was the only Roman Catholic to sign the
Declaration of Independence, is conducive to good family living with its
historic property preservation and holiday festivals.
Cobble Hill, also in the southern part of Brooklyn next to Carroll Gardens, is
another area that offers affordable property while at the same time being able
to live in a nice neighborhood. Luxury homes are selling for around a million
dollars while smaller less opulent surroundings can be purchased for around four
hundred thousand dollars. Brooklyn Heights is another historic area offering
homes from the 1800s and providing a safe, enjoyable, affordable lifestyle.
In summary, if you have the desire to live in New York City or you must relocate,
there are still affordable properties on the market. And if you are looking for
an investment, new construction is busy and many opportunities are available if
you do your research.
Want something completely different, a
home on sea is pretty great too -- and a lot cheaper than NYC!