Tag Archives: Houses in Westchester County

Home Rental Rates in Westchester County

Covering an area of 450 square miles, Westchester County and its 49 municipalities lie around 35 miles north of New York City.

Due to its proximity to Manhattan, where real estate prices are sky high and vacancy rates are among the lowest, Westchester has become a preferred residential address among those who work in the big city.

Consequently, the county has a healthy housing market for both sales and rentals.

Most popular rentals

2For those who prefer renting their homes, Westchester County offers an excellent selection of properties. They include contemporary studio-type apartments and charming colonial homes.

Based on availability and popularity, the following are among the most popular rentals:

  • Apartments
  • Townhouses
  • Condos
  • Single-family residences

Apartment rentals

A low monthly rate of $725 will net you a studio-type apartment in the trendy city of Peekskill with its active artist community. The unit will have 1 bath and 247 square feet of space.

For $2,200 a month, you can move into a spacious 2-bedroom apartment in White Plains. The place has 1 full and 1 partial bathroom in 1,200 square feet of space, complete with stove, dishwasher, refrigerator, and microwave. It’s within walking distance to the downtown area.

Condo rentals

For condos, $1,750 per month gets you a unit in White Plains, with 781 square feet of space including 1 bedroom and 1 bathroom.

Higher-end units with 982 square feet of space go for $3,000 a month in Monarch at Ridge Hill in Yonkers. The unit has 2 bedrooms, 2 baths, open kitchens with stainless steel appliances and stone countertops, plus amenities like a fitness center, concierge, and a shuttle to Metro North.

Home rentals

When it comes to homes for rent, $4,000 a month can get you a classic one-level ranch-style home in Pelham with 1,126 square feet of space. The home has 3 bedrooms, 2 full bathrooms, patio, and 2-car garage.

If it’s luxury you’re after, $35,000 a month opens the doors to a stunning estate in Rye, adjacent to the Westchester Country Club and a few steps away from the downtown area. It’s got around 13,000 square feet of space, 7 bedrooms, 8 full and 2-1/2 baths, a swimming pool, tennis court, and beautifully landscaped gardens.

Home Rental Rates in Westchester County
For additional information on rental rates and the best rentals available in Westchester County, get in touch with the GioHomes team today.

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Identifying Overpriced Homes

For many homebuyers, particularly first timers, buying a home can be quite a challenge.

While the selection of homes that might fit your criteria can be overwhelming, a second challenge might be the difficulty in pointing out which homes represent good value for your money and which ones are priced well above their actual value.

How to tell if a home is overpriced? Here are a few red flags:

  1. If the home is priced higher than other recently sold properties in the area
    The value of a home is partially dependent on the price of other homes in the neighborhood. Checking out recently sold homes in the area will give you an idea of comparable property prices.unnamed Just because you’re considering a luxury home in the middle of a modest neighborhood doesn’t necessarily mean that the home is worth significantly more. In fact, the area the property is in can bring its value down.

    2.  

  2. If the home has been in the market for weeks
    Many homes are typically sold within weeks or even days after being listed. When a home sits unsold for weeks on end, it usually means just one of two things – the vendor is not 100% committed to making a move, or the home is overpriced.

    3.  

  3. If the number and frequency of viewings or open houses are few and far between
    A home for sale will usually have a succession of open houses arranged by a real estate agent. If the home has not had a scheduled viewing for quite a while, or if open houses are few and far between, it could be a sign that the home is overpriced, with buyers in that area deciding that the home is not worth their attention.

    4.  

  4. If the property has had extensive upgrades or customization
    A seller usually mentions the new kitchens, remodeled bathrooms, add-on decks, swimming pools, and other improvements in their home in a bid to sell quickly – or jack up the list price. As a homebuyer, you’ll have to ask yourself if you actually need these upgrades and if they add value to you as a prospective homeowner.

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  5. If the price of the home doesn’t match the neighborhood it’s in
    If “location is everything” when it comes to real estate, then it follows that the more desirable the neighborhood, the higher the property prices. Busy streets, poorly-rated schools, low-income demographic areas, and limited amenities can bring down the value of a home. If you don’t mind moving into this kind of neighborhood, then the price of your home should be a lot lower than if you were buying the same kind of property in a quieter and better-heeled part of town. Otherwise, cue the red flag!

 
Identifying Overpriced Homes

If you want to get your money’s worth when it comes to real estate in New York’s Westchester County, contact our team today and we’ll be more than happy to help you.

 

 

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