We've scoured the real estate listings to see what you can get at each budget. This week, we're starting with what you can buy in the Hudson Valley for under $300,000.
Why $300,000? Assuming you've around $60,000 or a little more saved up, and you get a loan for $250,000 (assuming a 30 year loan at 3.92% interest rate), the mortgage payment is around $1,182. With a reasonable monthly taxes and insurance payment, you can own a home for less than $2000 a month, which may be cheaper than renting. Even if you don't have that much money saved, a mortgage for $300,000 is $1,418 a month.
(We will also be starting a series soon on the basics of mortgages, which will explain how much downpayment you really need, etc)
We'll begin with a small ranch home in Congers, New York. Although it is smaller in size, its price is comparable to condos, and you would get your own yard, basement, garage, and no condo fees:
Size: 2 bedrooms 2 baths, 950 sq ft on 0.18 Acres
School District: Clarkstown
Next up is something a little more North, in the town of Woodbury. It is another 2 bedroom house, but this one is a lot more spacious, with 1,732 sq ft and a large yard. There are large windows throughout the house, a large deck, and a double sided fireplace. But with the larger yard, also comes an over $10k property tax.
Size: 2 bedrooms 2 baths, 1,732 sq ft with 2 car garage on 1.77 Acres
School District: Monroe-Woodbury
Across the river, we take a look at something in Southern Westchester. We found this 2 bedroom condo in Harrison that is conveniently located walking distance to Metro North, shopping and dining. The kitchen has been renovated, and living in a condo means there is no lawn to mow, and you can still enjoy the outdoors on the private balcony.
Address: 70 West St A17, Harrison, NY
Size: 2 bedrooms 1 bath, 800 sq ft
School District: Harrison
If you are looking for something with all the conveniences of a condo but more room, there are plenty of townhouses to choose from in Northern Westchester and Putnam County. We picked one in the town of Carmel, at the Hunters Glen community. The community offers a pool, club house, tennis courts, basketball courts and playground. Centennial Golf Course is right around the corner.
Size: 2 bedrooms 3 baths, 2172 sq ft
School District: Brewster
So what do you think? Which one would you choose?