Author Topic: Would like some advice on moving to Jackson Heights!  (Read 779 times)

Offline maireadm

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Would like some advice on moving to Jackson Heights!
« on: November 22, 2021, 01:03:56 AM »
Hi all! I am 27 from Long Island and I work as an IT Analyst for a University on Long Island. I always liked Jackson Heights & I am seeking to move into an apartment for only myself. Now before you continue reading, I may sound ignorant with my questions. I make 54,600 a year and would prefer to own than rent however, open to both but prefer to own. I discovered this wonderful forum, sad to hear it is leaving. And I would like some advice! The Allendale seems very nice and would love to hear from everyone how they even went about pursuing their apartment, how one saves up for an apartment like Allendale, etc!  ;D

Offline lalochezia

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Re: Would like some advice on moving to Jackson Heights!
« Reply #1 on: November 22, 2021, 05:20:07 AM »
Re buying in NYC

read this

https://www.brickunderground.com/guides/how-to-buy/an-overview

Jackson Heights is definitely on the lower end of expectations described in this article, but expect coops to require 20% downpayment capability, some financials from you re savings that could at least pay maintenance and mortgage for a while, and that your salary could meet those payments. That's a tough ask on 55k/yr without another income or some savings/support, and it's a reason why many people rent for a while in NYC.


Offline maireadm

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Re: Would like some advice on moving to Jackson Heights!
« Reply #2 on: November 22, 2021, 09:49:11 AM »
Do you feel I should then save before doing anything then? The thing is I don't want to rent since it is so expensive! I would prefer to own, I currently live at home. I read the article you sent me. How can one figure out how much to save when looking into something like Allendale?

Offline CaptainFlannel

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Re: Would like some advice on moving to Jackson Heights!
« Reply #3 on: November 22, 2021, 10:03:43 AM »
^look up recent sales in the Allendale or other coops. Realtor.com has info on recent sales that is easy to access. From there you can determine what 20% down would be today ($60K for a $300K apartment for example). Plus a coop is going to want to see you have about 6 months or more in savings after closing to cover maintenance + mortgage in an emergency.

The first step towards home ownership is saving for a down payment. There's no point in doing anything other than that if you don't have the $$, other than looking at apartment listings to get a sense of the market. It took me about a decade as a single person to save enough for a down payment after my student loans were paid off. So if you still need to save, figure out ways to reduce your expenses - getting roommates helped me save a lot of money. If you are a two income household, saving for the down payment will probably take less time (but you'll also probably want a bigger place. I know I saw smaller apartments I would have been fine with as a single, but seemed a bit tight when I began looking because I was married at that time).

Online ChickenringNYC

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Re: Would like some advice on moving to Jackson Heights!
« Reply #4 on: November 22, 2021, 11:47:55 AM »
If your finances are in check (down payment, some extra savings, previous year tax returns, etc)..  basically add like 10-15 grand on top of all of it, to pay for a lawyer, moving costs, renovations, incidentals and whatever other little surprises get thrown your way. Also, if you're looking to buy in a co-op, grab your ankles and get ready to prove your financial worth to an insane extent. I went through it. My board application was 400 pages long.

If you plan to buy in a co-op, get prepared early. Archive your last three years tax returns, get 6-8 months of bank records, W2s, loan documents, letters of recommendation, references, all that good stuff. Will make it easier when it's time to actually build your application.

Offline abcdefghijk

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Re: Would like some advice on moving to Jackson Heights!
« Reply #5 on: November 22, 2021, 12:42:30 PM »
My advice (and experience) is that it is worth doing if you can.

Prices in Jax Hts are still less than many other locations in NYC. (Not the Bronx which is quite a bit less expensive)

If you really doin't have a huge amount of $'s look at smaller apartments which are cheaper here. (Under 200K)

Or buildings like Southridge ( a little further) or Roosevelt Tce (25% flip tax on profit when sold)...these are not as pricey due to the mentioned  reasons.

Offline itsit

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Re: Would like some advice on moving to Jackson Heights!
« Reply #6 on: November 22, 2021, 04:14:11 PM »
 I actually think you should look in a neighboring area first because of your age. JH doesn't have much going on for your age group and you might feel more comfortable in a neighborhood like Sunnyside or Astoria or Ridgewood with more young people. And circle back to JH in the future. The dominant group moving to the neighborhood now seems to be youngish couples, with or without dogs and with or without kids. If you don't mind being the youngster, go for it but I've heard some of some rough treatment regarding income, savings and job security for people your age and am not sure it's a good process for you at the moment given your stated circumstances. This comes from lots of conversations with your age group with family members and personal history in the nabe. But good luck and buying is a great feeling!

Offline abcdefghijk

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Re: Would like some advice on moving to Jackson Heights!
« Reply #7 on: November 22, 2021, 04:41:24 PM »
Lots of younger folks are moving to Jackson Hts if they want to buy.

I did and it turned out great.

Transport to Sunnyside and Astoria is easy...or even bike...
Getting to Brooklyn is do-able ...with the E to the G... especially compared with pals who are in Washington Hts and Inwood.

The F gets you to the LES no problem.

I have found that the transport options from Roosevelt Ave to get anywhere in NYC where you need to meet friends is a real plus.

Your pals will come only once or twice a year...from hipper neighborhoods...but they will always have a fun time when they get here...with the diverse food etc. (They even marvel at how lucky we are to have the Open Street of 34th Ave.)

If you are financially minded...it's an investment. That works out ok.

Otherwise you can rent in Brooklyn or LES etc of course. Like most younger folks. It's harder to buy there unless you have $'s. Lots of $'s.







 

Offline itsit

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Re: Would like some advice on moving to Jackson Heights!
« Reply #8 on: November 23, 2021, 06:05:46 AM »
 See the above post. Your friends will visit twice a year. You will be biking to neighbors where other young folks live - in the winter, in the rain, etc. If this works for you and you have more than Grandma's money to back you up, go for it! But am being very honest here in that one of the groups that seems least happy here is the twenty somethings and when we do see them in our building, they do not stay that long. The twenties can be so fun and adventurous that I think you should really consider proximity to your playful side before buying. Otherwise, you might find yourself online way too much...

Offline abcdefghijk

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Re: Would like some advice on moving to Jackson Heights!
« Reply #9 on: November 23, 2021, 08:24:47 AM »
Itsit loves being contrary. It's a hobby for Itsit.

The OP is looking for somewhere to buy. In truth anywhere hipper is far more expensive to buy into.

Living in NYC is always a compromise.

Maybe in the olden days everyone young lived in the same neighborhood. But my experience of New York is that my friends live where they can afford. That means from Forest Hills to Crown Heights or Bushwick to Inwood/Washington Heights etc.

And I travel often to those neighborhoods to meet them.

And transport is great from here.

So Jackson Heights works out ok.

If instead of investing in crypto or NFTs a person wants to invest in their apartment...then Jackson Heights is one of the few places in NY where apartments are more affordable.

The prices are approx equal to Inwood. But the location and transport options are better in Jackson Hts IMO.

So the OP has few options in truth when it comes to affordable buying in NYC.

Midwood, Brooklyn? Inwood/Washington Hts, Manhattan? The Bronx? Jackson Hts?

Since the OP is from Long Island...Forest Hills could also be a possible solution for them price-wise.






« Last Edit: November 23, 2021, 08:39:11 AM by abcdefghijk »

Online ChickenringNYC

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Re: Would like some advice on moving to Jackson Heights!
« Reply #10 on: November 23, 2021, 10:16:52 AM »
Lots of younger folks are moving to Jackson Hts if they want to buy.

I did and it turned out great.


Ok but when was that, 1981? From your long history of crying about airplane noise, moaning about gigantic parking lots, groaning about being nearly run over by evil vehicles, dreaming for more pedestrian zones, and predicting that Jackson Heights will one day be the Park Slope of Queens, I assumed an age in at least the mid to late 50s. The "younger folks" (which, by the way, who under the age of 55 refers to other people as "folks") live in LIC, Sunnyside and Astoria, not here.

So just because someone has an opinion that differs from yours, they are being a contrarian? That says it all. Hooray for realism.

Offline abcdefghijk

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Re: Would like some advice on moving to Jackson Heights!
« Reply #11 on: November 23, 2021, 10:56:56 AM »
Lots of younger folks are moving to Jackson Hts if they want to buy.

I did and it turned out great.


Ok but when was that, 1981? From your long history of crying about airplane noise, moaning about gigantic parking lots, groaning about being nearly run over by evil vehicles, dreaming for more pedestrian zones, and predicting that Jackson Heights will one day be the Park Slope of Queens, I assumed an age in at least the mid to late 50s. The "younger folks" (which, by the way, who under the age of 55 refers to other people as "folks") live in LIC, Sunnyside and Astoria, not here.

So just because someone has an opinion that differs from yours, they are being a contrarian? That says it all. Hooray for realism.

Hilarious. On this forum, I am called male and female. Right wing and left wing. And old and young.
Love it. :)

Proof that actually, individuals are, well, individuals.
 ChickenringNYC, I can see that you want to battle with me...but you make me smile instead. Go figure?

« Last Edit: November 23, 2021, 11:08:15 AM by abcdefghijk »

Online ljr

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Re: Would like some advice on moving to Jackson Heights!
« Reply #12 on: November 23, 2021, 11:08:23 AM »
OP is young and just starting out on their own. Buying right away is likely not very realistic. Unless it involves staying with parents for several more years and saving up for the down payment. It doesn't sound like OP has yet done that saving, as they posed the question: do you think I need to save up before doing this, or something to that effect. Plus OP does not have a high income or a second income. Buying in JH might be a stretch at this point for OP.

We moved to JH as a money-saving measure 10 years ago, after owning a coop in Washington Heights for 23 years. So I can confirm: transportation to Manhattan/Brooklyn is much better from JH than from Washington Heights. We prefer this neighborhood in many other ways as well. The only way it falls short is that Travers Park is no match for gorgeous Ft. Tryon Park in Washington Heights.

Re: young people in JH, it's true that there does not seem to be a bar scene for 20s-30s here. I see young people renting in Astoria or Sunnyside and then eventually buying in JH when they have saved enough, have a higher income, maybe have a partner, have an inheritance...whatever. The housing stock for large apartments in JH is much better than in Astoria, Sunnyside, or even Forest Hills, from our buying experience. We couldn't find apartments anywhere near as nice in those areas as we found here.

As for price, we were looking at a particular price point 10 years ago, and we found we could get the size apartment we wanted at that price in JH, Riverdale in the Bronx, or Ditmas Park--or further out-- in Brooklyn. We decided we didn't like the Brooklyn options, so it came down to JH vs Riverdale. Maintenance fees were generally higher in Riverdale, and it is not well connected to Manhattan via public transportation in the area we liked, near the river. It has a very suburban feel, and you really need a car up there. It's pretty there with lots of natural beauty, Hudson River views, Wave Hill, outdoor swimming pool in the building we were considering.

But we chose livelier, better connected JH and are very happy with that decision. If OP can swing it, JH is a great choice, and maybe OP is not much for the bar or entertainment scene anyway. And the 7 train will get you to those other neighborhoods very easily.

Offline r

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Re: Would like some advice on moving to Jackson Heights!
« Reply #13 on: November 23, 2021, 07:57:04 PM »
JH is the best place to buy in the NYC area if you are optimizing for

- Price
- Apartment size/quality
- Fast commute to midtown
- Transport options (esp in the 70s near the express trains and bus station and LIRR)
- Food (ditto, 70s means you can walk to Woodside and Elmhurst for more food options)
- Pretty neighborhood, human scale building sizes, some nice architecture…

But JH is a bad place to buy if you are optimizing for

- Parks and playgrounds
- High quality (or even good quality) healthcare, with a few exceptions
- Childcare options (the best option, Little Elms, has closed down)
- Cinemas and most other entertainment (few exceptions)
- Parking (you will pay $300 for a monthly parking spot and your friends won’t be able to park their cars when they visit)
- Honking, plane noise, loud music - can be a surprisingly loud neighborhood, even by NYC standards

What am I forgetting?

Offline abcdefghijk

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Re: Would like some advice on moving to Jackson Heights!
« Reply #14 on: November 24, 2021, 09:02:55 AM »
The above is pretty spot on

But if you don't have a car...and are near Roosevelt Ave...public transport is great and you can get anywhere in NYC. So not having a car becomes a positive.