Rising Westchester County rents may encourage people to buy
When you look to invest in real estate in Westchester County, NY, you might want to take into account the latest squabble over rent increases between landlords and tenants.
Recently, property owners have laid out a lengthy list of cost increases at a public hearing of the Westchester County Rent Guidelines Board. In opposition of these terms and conditions, tenants said job losses and low wages already make affording rent difficult in Westchester County towns.
In 2011, the board set increases at 2.5 percent for one-year leases with a $25 monthly minimum and 4 percent for two-year leases with a monthly $40 minimum, The Journal News reports.
As a prospective new Westchester County resident, you might want to consider purchasing property, rather than renting from a landlord. The acquisition of one of the homes for sale in Westchester County would give you the opportunity to take advantage of all the area has to offer, while cutting costs over the long term.
Consider the for-sale properties in the Westchester towns to see if you can get a great deal today.