Moving From Dyker Hts to a Williamsburg Condo
This weekend’s “The Hunt” column in the Times tells the tale of a couple who decided they wanted to move from their rent-free house in Dyker Heights to a condo in Williamsburg. The pair settled on Williamsburg because the neighborhood offered better value than Manhattan areas like Chelsea and Chinatown; the commute to their flower…
This weekend’s “The Hunt” column in the Times tells the tale of a couple who decided they wanted to move from their rent-free house in Dyker Heights to a condo in Williamsburg. The pair settled on Williamsburg because the neighborhood offered better value than Manhattan areas like Chelsea and Chinatown; the commute to their flower shop on Lafayette Street would take 20 minutes or less; and they were attracted to its dining and drinking scene. However, after the two signed a contract for a $695,000 1-bedroom at 125 North 10th, above, they learned that they had a baby on the way. Since this turn of events happened after last fall’s market implosion, they were able to negotiate a $60,000 discount off list on a 2-bedroom in the same building, and moved in this summer. The most interesting part of the article is the description about how Williamsburg isn’t the perfect match the couple thought it would be now that they have a baby on board: “They are concerned about schools, which they never thought about before. The neighborhood now feels young, and not especially baby-friendly. The Wus wish they could take more advantage of their new neighborhood. ‘When we see people having fun eating at the restaurants, just kind of hanging out,’ Mr. Wu said, ‘we feel like, man, this is what we should be doing! We feel we missed out on the night life here.'”
The Hunt: Shifting Priorities [NY Times]
lol @ ‘stylish baby’.
ditto – i’m here!
think that they’ll fit in perfectly.
creative business people (entrepreneurial too-extra credit!) – check
30’ish married condo buyers – check
super cute stylish baby – check
they need to join the yahoo group brooklynbabyhui ASAP though. i think they are clueless about the baby/kid resources in Williamsburg. note to this nice couple – don’t worry about the schools! send to Williamsburg Northside for daycare/preschool, PS84 for pre-k and then do the dual language program there or send to PS31 for k thru 5th. Middle school MS577 which you are zoned for – is very very good! you’re all set. relax.
also, i think that there are young couples in every city, county and rural township across America that get down payment help from their parents. i’m not too fazed by this. old story. my parents got money from my grandparents, etc. etc..
and, i do like this building a lot. they’ll stay and be happy there. great location.
Heather, you’re allowed to use the downpayment from your parents as long as you don’t hate on FHA 3.5% downpaymenters as “shouldn’t be buying if they can’t afford the downpayment”.
“But, uh, moving on from that, I can no longer complain about people getting downpayments from their parents, as I am plotting to do the same even as we speak.”
Trustfund hipster!! 😉
Heather, based on your usage of the word “like” above, you can’t be that old.
😉
I’m still choking on the concept that the 1 bedroom cost $700K. In that building.
But, uh, moving on from that, I can no longer complain about people getting downpayments from their parents, as I am plotting to do the same even as we speak.
And I’m like, old.
Ironically, I did buy a place (in March 04, closed in Oct. 04), ex left one month later, had to sell, but place went up 40 percent in one year. But I wouldn’t recommend PLANNING to do this. Nightmare.
OK, several important issues:
1. When do the lights go up in Dyker? We’ve got some out of town guests (incl. one small kid) the weekend of 12/12. I assume they’ll be up by then.
2. I was on this site during the bubble. Don’t remember people recommending that families buy with a 2-year timetable for selling. That’s a post-hoc version of brownstone Brooklyn bubble mentality. Bubble wasn’t like stock tips in 1928 — people were anxious about being priced out, not jumping in and constantly uprooting families just to make a little on the flip.
3. Montrose, I think you’re biting the hand that feeds you re: NYT. 😉
4. benson — very funny. We can all deconstruct the Palins’ choice of stroller.
For the most part, mopar is right. Although I’m sure there are some people who bought in prime areas in mid-2005 and sold in mid-2007 who were able to not only cover the related expenses noted above, but who also made some additional substantial gains.