When this blog first started in 2007, we featured an affordable neighborhood every week. Then we ran out of neighborhoods.
Well, we may be in search of a distressed property to restore and since our pockets are bare, it looks like this feature may start up again.
There are three neighborhoods that have consistently popped up in our < $300k price range. Bushwick, Ridgewood and Jersey City.
We know nothing of these areas, only that….
Bushwick can be hit or miss. There are some hipster havens, but the homes we’ve been seeing are in areas that don’t have much going on. And by “not much going on” I mean, not even a corner bodega. Been to Bushwick a few times but never fell in love with it. But we’ll be researching Bushwick some more.
Ridgewood. Yes, Queens! What, did you think I’m some Brooklyn snob? Well, Ridgewood is just over the border (of Bushwick) so that makes it ok. Actually, it’s supposedly a “lovely” area with great old home stock.
Jersey City. There are Hobokeny parts and dumpy parts. Guess what we can afford? NJ might not be the best option for us as far as the higher taxes and cost of commuting while renovating. DIY of course. It’s worth a look though.
Oh, there is a fourth neighborhood: East New York, one of the last Brooklyn neighborhoods to find gentrification. Definitely lots of affordable homes to choose from, but since it’s farther out than Bushwick, it makes sense to try to do Bushwick first. Also, it should be said that the crime levels are still fairly high in East New York. Not that it isn’t worth checking out!
Anyone have some input?
6 Comments
This is very helpful! It can be extremely difficult to find an affordable place to live.
Mott Haven is a great commute and affordable too.
Thanks for the tip! I don’t know The Bronx very well, but I’ve always thought it was pretty cool. And my mom is from The Bronx. 🙂
We hope you won’t rule out Staten Island’s North Shore. St George, Tompkinsville and Stapleton have some great historic housing stock and a growing number of preservation-minded homeowners. Wonderful things are happening here!
East New York is a hike and can be super sketch. Why not check out Crown Heights? Lots of good housing stock at various levels of distress and affordability.
Well, I might rule out SI for the same reason I’d rule out NJ…the cost of commuting every day will cut into my profit. That Verrazano is nuts! But if I find something affordable enough, it could work.
I had assumed that I’m already priced out of Crown Heights and Bed Stuy, but I did come across a couple of things I can check out.
The searching part is almost as much fun as the renovations!