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Buying in NYC vs upstate NY

I was hoping that some of you could help me sort out something that my husband and I are considering, as we aren't sure where to start! We are looking into buying a country house in upstate NY instead of an apartment in NYC. We are in our early 30s and live in NYC. We're planning on having kids in the next few years, and would love to move out of the city but can't, so we end up renting houses in upstate NY often. We have about $400,000 to spend. We understand that buying an apartment in NYC is a better investment in terms of making money back someday, but we are not interested in "flipping" anything in a few years, or in buying a very small one bedroom apartment in a dangerous neighborhood (without taking out a loan), or in going way beyond our means to buy an expensive apartment and having a big mortgage. We are sure that our quality of life would improve, and this would be an investment that is less financial and more personal, as we would like to keep a country house in our family for multiple generations. In the areas upstate we have been looking, there are plenty of large, nice homes around 300K. This is crazy in comparison to what you can get in NYC for that (nothing). In the areas we would like to live in the city, smaller-sized apartments are around 6-9K. Does anyone have any ideas or thoughts about this? Thank you!
  • July 17 - US
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