Town house / Condo in Monsey - in Area of Ellish Decatur

amother

Mon, Dec 26 2022, 1:54 pm

does it depreciate in value?
is it smart to buy?

my sister who is not on imamother wants to move and she wants to buy
she doesnt know if its smart to buy in that area or rather a high ranch in an area where she doesnt have people she knows around her

are you an agent? or know one in the area

I rent so I cant advise her as I dont know myself where I'll be living

Monsey

Wed, Dec 28 2022, 2:14 pm

Real estate in the long term only appreciates in value. If you buy a brand new condo and sell it after being used for 6 months it might sell for less than you paid.

amother

Lightgray

Wed, Dec 28 2022, 2:18 pm

It's a hot area and houses there are very expensive. She'd probably be able to resell for the same price for sure, if not for more. But it is a very crowded area, there's no property or yards. Can't be compared to Airmont. It's almost like Brooklyn and the traffic is insane.

Monsey

Wed, Dec 28 2022, 2:21 pm

If the purpose of buying is to have a home for your family, buy in an area you are comfortable and know people. If the main reason is to buy an investment that appreciates in value, consider a private house with a large property since land is what really appreciates over time.