From City Renters to Westchester Buyers

Introduction to a New Chapter

Caroline and Aaron Sokol loved their one-bedroom rental on the Upper West Side. “We would joke that if we never had a kid, we could have lived and died in that apartment,” Mrs. Sokol said. Then, of course, they had a kid: Their son, Maxwell, was born in October 2023. The couple gave it a shot at first, staying in the rental for another year. “Being in the city with a baby is actually very convenient because everything is so close,” Mr. Sokol said.

The Need for Space

They put up a temporary wall to create a six-by-nine-foot nursery, complete with a crib and dresser, but before long, things felt cramped. “I couldn’t have been nine months pregnant and fit in that room,” Mrs. Sokol said. They considered renting a larger apartment in the neighborhood, but realized that the rent for a two-bedroom would cost about the same as the monthly mortgage for a house outside the city, even with interest rates still fairly high. “We felt like the house was really important, and if we have to pay the interest rate, we’re going to do it because we need the space and we don’t want to wait until the market changes,” Mr. Sokol said.

Choosing the Right Location

The Sokols, who met in 2009 while attending Indiana University, both enjoyed childhoods in the suburbs — Mrs. Sokol, 34, in Framingham, Mass., outside Boston, and Mr. Sokol, 35, in Scarsdale, the upscale Westchester County town just north of New York City. They wanted the same for Maxwell, and Westchester seemed like the obvious choice because of “the commute and the schools,” Mr. Sokol said.

Financial Planning and Home Search

Mr. Sokol, vice president of licensing at the brand management firm WHP Global, goes to his Manhattan office five days a week, while Mrs. Sokol works remotely as a senior manager at Capital One. After selling some stocks and pulling from savings, they had enough for a 12 percent down payment on a $1 million home, and got a $50,000 penalty-free loan against Mrs. Sokol’s 401k to cover moving expenses and furnishings. They clicked with the agents hosting the first open house they visited, Nicole Orefice and Janine Hennigan of William Raveis, and the four visited about a dozen listings through the winter. Along with a reasonable commute and recent updates, their wishlist included a nice kitchen and three bedrooms plus a home office. Early in the search, Mrs. Sokol developed an affinity for Cape Cod-style homes.

Conclusion

The journey from being city renters to Westchester buyers was not just about finding a bigger space; it was about creating a new life chapter for the Sokol family. With careful planning, a clear vision of what they wanted, and the right support, they were able to make their dream of suburban living a reality. Their story serves as a testament to the appeal of Westchester County for young families seeking space to grow and a desirable quality of life.

FAQs

• Q: Why did the Sokol family decide to leave their Upper West Side rental?
  • A: The family decided to leave their rental because, after having a child, they found the one-bedroom apartment to be too cramped for their growing needs.
• Q: What factors influenced their decision to buy a home in Westchester County?
  • A: The commute to Manhattan, the quality of schools, and the desire for a suburban upbringing similar to their own childhoods influenced their decision.
• Q: How did they finance their home purchase?
  • A: They financed their home purchase by selling stocks, using savings for a 12 percent down payment, and securing a $50,000 penalty-free loan against Mrs. Sokol’s 401k for moving expenses and furnishings.
• Q: What were their priorities in searching for a home?
  • A: Their priorities included a reasonable commute, recent updates, a nice kitchen, three bedrooms, a home office, and, for Mrs. Sokol, a preference for Cape Cod-style homes.