Fairfield County OR Westchester County?
A lot of buyers have been looking for a new home since the beginning of the pandemic. With the limited inventory, they have expanded their search from lower Fairfield County to Westchester County since both counties are replete with affluent commuter towns, excellent schools and woodsy open spaces. When it comes to the final decision, the following factors should be considered:
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Cost of Living: Fairfield County generally has a lower cost of living compared to Westchester County, particularly in terms of housing costs and property taxes. Lower housing prices and property taxes can be significant incentives for individuals and families looking to stretch their budgets or invest in more affordable real estate.
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Cost of Purchase/Sale: buyers must have more funds available to purchase a home in Westchester. See below analysis:
$1.5 MILLION DOLLAR PURCHASE/ SALE ANALYSIS-80% MORTGAGE $1.2MM
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Tax Considerations: Connecticut has a lower state income tax rate compared to New York, which could be appealing to individuals seeking tax advantages. Additionally, Connecticut recently implemented the largest tax cut which might be more financially advantageous for some high-income earners compared to New York State.
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Quality of Life: Fairfield County offers a high quality of life with its scenic coastal areas, beaches, and vibrant communities. People moving from other areas may find the coastal lifestyle and smaller towns in Fairfield County appealing, especially if they are looking for a change of scenery or a more relaxed pace of life.
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Commute and Access to New York City: While Westchester County is closer to New York City, Fairfield County still offers relatively easy access to the city for commuters via Metro-North Railroad and major highways like I-95 and the Merritt Parkway. Some individuals may find that the slightly longer commute from Fairfield County is worth the trade-off for more affordable housing options and a lower cost of living.
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Job Opportunities: Fairfield County is home to several major corporations and industries, providing job opportunities in fields such as finance, technology, healthcare, and manufacturing. Individuals may be drawn to Fairfield County for career advancement or job opportunities in these sectors.
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Community and Lifestyle: Fairfield County has a diverse array of communities, ranging from suburban neighborhoods to charming coastal towns. People moving from Westchester County may find that Fairfield County offers a similar sense of community and amenities while also providing new experiences and opportunities for exploration.
Overall, the ultimate decision to choose Westchester County to Fairfield County will likely be multifaceted, including financial considerations, lifestyle preferences and career prospects.
