Why are split-level homes on Long Island so expensive?
Very good friend just bought a home in Centerport Long Island (lived in NYC til now). It's a fine house -- a basic split-entry home, three beds, a couple of baths, small plot of land, surrounded by houses that are similar. He and his wife came into the city on Saturday and we got to talking about real estate ... He said he paid over 600k for his home. WHAT!? His house is fine, but it's small, not updated, etc. I do not mean to sound snooty. I just don't get why his house cost so very much. Is there something incredibly desirable about Long Island?
It's the same in Westchester, NY. My sister owns an average house (nice enough) with a smallish plot of land.
Although her house does a rental apartment in it (illegal)
She says she can easily get $600k for it. What a fucking ripoff! Plus property taxes are sky high.
How about New [...]?
Or maybe White Plains?
Ask him what his taxes will be
What are you bitching about? $600 grand won't get you a good studio in NY, add the month maintenance and the mortgage and Centerport is a bargain.
$600,000 is not very much for a house in the NYC area.
Why would anyone want to live in Long Island?
I don't know, r6. LI is just weird to me, and so many areas are just really white trash.
Centerport considers itself to be part of the Gold Coast.
You should see my house. I could $800k for it and it is a plain old 2 story house with almost no closet space. It could be a tear down.
Long Island is a finite piece of land that is almost completely built out.
You can get houses for 150k, 200k, 250K. They would be in bad school districts, but if you don't have children, who cares?
The fact of the matter is, people in and around NYC have access to better paying jobs than other places. Yes, it is expensive to live within commuting distance to NYC, but it pays better too.
This is not to say that there are not good paying jobs elsewhere, but not in this abundance.
R9 - that's somewhat true, but when you add in the expensive additional income taxes, property taxes and other higher costs, it's not really more that other urban areas.
It can actually be less.
[quote]They would be in bad school districts, but if you don't have children, who cares?
That's true, but when you go to sell it can hurt your resale value. Also, if its in a bad school district, generally, it means the area itself isn't too nice.
I grew up in L.A. and spent 30 years in Manhattan and it is criminal what real estate goes for in these places. In most of the rest of the country $600k buys a nice house on a nice piece of land. Furthermore what with the L.A. smog and traffic and NYC noise, dirt and crowds, I cannot fathom anyone willingly living in either place. You get paid more but you put up with a miserable quality of life.
My folks sold our split level family home in New Jersey a couple of years ago for the asking price. They bought a two-bedroom, two-bath condo in an exclusive part of Florida, with a killer sunset view on the Gulf, with about $100,000 "left over" as well.
[quote]an exclusive part of Florida
Yes ... seriously - would you prefer I'd said "high income" instead?
Who exactly are they excluding? People who can vote properly?
Even the rich people on Long Island seem trashy to me.
It's because there are still jobs in that part of the world. You can buy a mansion in Cleveland for 200K, but good luck finding a 50K job that will allow you to pay for it.
I've lived in Centerport for a few years. Not all the homes cost that much.
[quote]The fact of the matter is, people in and around NYC have access to better paying jobs than other places.
It is a vicious circle. To attract talent, companies have to pay high because of the high cost of living.
[quote]You can get houses for 150k, 200k, 250K. They would be in bad school districts, but if you don't have children, who cares?
You do. When you try to sell it.
Location, location, location
Do the location with me
Believe it or not, Centerport is the gay mecca of LI.
I absolutely LOATHE split-level homes. Nothing screams 1960's more than shit that looks like this:
Our family home was a split level in a somewhat upscale neighborhood. My mom never liked it, except for the location, and would refer to it as the "Yiddish Hacienda" as she thought the place a bit tacky.
Centerport is extremely hilly so some not too spectacular homes have a water view. Sometimes only in winter when the trees are bare. In Ctrpt, they refer to the view as a Winter Peak. The homes directly on the water are to die for. Watch your transmission on some of the slopes and marvel at all the different styled homes. It's a tour to take when visiting The Arts and Festival in Huntington. Travel north to Huntington Bay (Halesite) and your jaw will drop.
Very nice R36
In LI or NJ, the house in R26 is called a "splanch."
I actually like the split level in R29. And I love the house in R36. Is that a renovated splanch?
I drove through Huntington not long ago and found the downtown sort of rundown and seedy - and tons and tons of ugly "splanches." Am I missing something?
I'm a gaygent in NYC...I sold a somewhat rundown apartment in the East Village for $1,800,000 recently...I'm talking Alphabet City.
I just sold a 350 sq. ft studio facing a wall in midtown for $300,000... It's gone nuts.
R42, gotta stay north of sinuous 25a, closer to the water. It's another world. Huntington is a town/township. Huntington Station is the dregs. Lloyd Harbor (nw of Huntington) is exclusive. Murdoch has an estate there still? It's the tail end of the Gold Coast.
It's really the school district that is usually the biggest determiner of home value on LI.
That same split level that costed $600k could've only costed $300k if it was in a lower-performing school district.
For families, school districts are important to an extent; but parenting/family wealth is by far the number one most important indicator of a child's success. I think the importance of the whole school district component is dramatically exploited by realtors who wanna make an extra hefty buck off of the uninformed.
Yes, the school district does affect the resale value but the gains/losses balance each other out when you EITHER buy the home for a hefty discount or sell the home for much less than it's worth.
They come with a DEMON that tells you to fuck your sister... er, I mean, shoot all your family with a shotgun at 3:15am.... boooooo.....
Huntington Station isn't all or even mostly bad. It's generally just the area near the LIRR tracks that have issues/poverty/illegals,etc
You can actually get a beautiful house on a large property for a good amount over there
i like some splanches though.
i like the ones that look like colonials in the front