Hi all – I’d be grateful for your insight here.
We live in a 7 unit coop in Brooklyn, NY. We’re my wife and I and two kids (1 and 4), and the two bedroom apartment we live in now is 800 square feet. The apartment across the hall is a mirror and going up for sale. I’m thinking about buying it, but not connecting it, maybe just some updates. Basically, one bedroom in the second apartment would be storage (for which I currently spend $250/month fwiw), one would be a guest room (in-laws) / office, and the main space would be a place to entertain.
Obviously a huge investment, but I think we can afford it. The reason I don’t want to buy a bigger place someplace else is that I want to get into the zoned school where we are, and the monthies here are ridiculously low. But, once the kids are both in the same zoned school in about 3 years, we’d probably want to sell both places and buy a bigger, combined unit.
Are we crazy to even think about doing this?
Trying to avoid an ultra-long post here, but happy to provide additional information.