Category: Buy or Invest

4 Millennial Changemakers in CapNY Housing

Updated: July 2025

If you’ve spent time in Albany, there’s a chance that you’ve noticed a bright red ‘X’ on multiple buildings. Albany has a lot of homes that are currently vacant, dilapidated, and not up to safety codes. Seeing all of those properties that have great potential, you can’t help but to dream of all the possibilities, to think of it’s potential to be transformed into adequate housing or become multi-purpose centers for our community…

Outside of the possibility you’re also faced with what is: that the presence of those abandoned homes indicate that there are more unhoused neighbors than you think. Furthermore it begs the question what does affordable housing actually look like in CapNY.

While no one person has all the answers, we do have a bevy of individuals of all ages and groups committed to finding solutions. Leadership is not a one-size fits all endeavor, it does not have a particular look and feel. There are more and more young people in CapNY who are taking up the mantle to be actors of change. It’s important to believe in the power of younger generations. These millennials are changing the landscape of homeownership and what it means to have housing in our region.

Meet Virginia Rawlins, President and CEO of Building Blocks Together (BBT), an organization dedicated to the education of Black and Brown potential homeowners. The 31-year-old Bronx native started out as a Housing Services Counselor at the Albany County Land Bank but then realized that members of the community had a lot of misconceptions about the home buying process.

“Working at the Land Bank I realized that people didn’t know the basic home buying process. They were excited [to receive grants] for the $5,000 houses, but they didn’t know which legal documents to submit to the bank had they gone the traditional route.” Seeing that disconnect, Rawlins founded Building Blocks Together as a way to bridge that gap. Founded in 2018, BBT is equal parts a consulting and advocacy group which holds workshops and helps connect members of the community with funding opportunities. In addition to the creation of BBT, Rawlins works with the Touhey Foundation and their Restorative Justice fund, which gives African-American homebuyers up to $10,000 to purchase a home in CapNY.

“I wanted to be a connector. I think everyone can agree that the opportunities for affordable home ownership for minorities are present with entities like the Land Bank and the Land Trust in the area. However some of these organizations that are not Black-led don’t have the resources or have the same sense of care to do community outreach in the way that Black people would.”

Working for the community and being of the community is a distinction that Virginia is keenly aware of. It can mean the difference between feeling seen, heard and understood and condescension. It can also be a barrier to beginning the endeavor of home ownership. It is due to this understanding that various housing groups have welcomed Virginia’s presence with open arms. Virginia has been lifted up by Albany’s housing community and has created long lasting connections.

Ultimately Virginia Rawlins is passionate about the work she does because she believes that everyone is entitled to own a home and build a deeper connection to the community around them.

Meet Josh Koss, General Counsel for The Vecino Group, a multidimensional collective dedicated to creating “lasting and socially-impactful” work. Before relocating to Troy, Josh practiced law at a real estate law firm in NY helping close $3 billion worth of deals while there but he wanted something a bit more “hands on.” After gaining his broker’s license, he fell in love with the area and began his journey with the Vecino Group. The 29-year-old lawyer’s work is centered on affordable housing within the region.

The Vecino Group works in tandem with social programs such as Asteri, a supportive community for persons with developmental and physical challenges based in Utica, to provide housing. The Vecino Group owns and operates over $700 million dollars of affordable housing development across this country, and owns 4 properties in Upstate NY.

Josh believes that there is more to housing than availability and affordability, “The supportive housing aspect is important to what we do. We’ve partnered with daycares, CVS to distribute vaccines, among other things in the community. It’s based on this notion that it’s important to deliver not just affordable housing but high quality affordable housing to people of all different income levels and social statuses. We believe that if we can help people capitalize on the benefits that come with that– better education, better support for mental and physical health– then we’re doing a small part in the world to make our communities a better place.”

Being housed is a basic need that drastically alters our course in life. It is the foundation from which our faculties grow. Josh understands that people not only have a right to shelter but a right to quality of life. To even begin to approach social equity, we need well rounded responses to the inequalities that plague our communities.

Josh is ultimately passionate about this work because it simply feels good. “I think that human beings were meant to feel good about doing good work. I look for work that makes me feel good. If I’m doing that and I’m helping the people around me, then it’s a good day.” Being able to achieve goals with like-minded individuals is what keeps Josh going. Upon moving here he knew one person, now he knows 100. Josh feels that there are great people in this area dedicated to this work.

Last but certainly not least are the founding partners of the Wallace Turner Law Firm, Ray Turner and Kim Wallace. Their main areas of practice are real estate, business and personal injury, and estate planning.

Ray Turner initially went to undergrad for theater and dance but when personal tragedy struck she wanted to figure out what she could do to take control of her life, so she enrolled in law school. A move that proved to be life changing. Ray worked in the public defender’s office for a while but still felt that she wasn’t creating the change that she had hoped in her community, “I had an epiphany. I was helping people but it wasn’t long lasting. I thought, ‘How can I make an impact and help people?’ I need to open up a law firm. CapNY needs to see a law firm that looks like them. What services do we need to offer? We need to offer home ownership because that’s going to create generational wealth. It was about how I can help people establish themselves further.”

Ray’s approach to community building moves beyond the initial moment of gaining housing, instead figuring out ways for Black and Brown communities to retain their homes and businesses and turn them into assets that can be passed down to their children. Having a law firm that reflects the community and a firm that the community trusts is an invaluable asset. Ray and Kim find that more often than not clients come to them because of who they are and how they can relate to them. People find comfort in seeing people like them.

What motivates Ray and Kim most is knowing that they are presenting members of our community that often don’t get the representation they deserve. Moving forward they aim to expand their business to become a full service law firm, hire from inside the community, and to grow as a practice.

Anthony D’Argenzio: Hudson Valley Entrepreneur

Updated: July 2025

Anthony D’Argenzio was named one of The 100 Most Creative People in the U.S. by Country Living Magazine. His work has been featured in Condé Nast Traveler, Domino, and Architectural Digest.

“I’ve always been interested in upstate New York and the Hudson Valley,” says Anthony D’Argenzio. “It has an old-world sensibility behind it, and I feel like I’m an old soul at heart.” The designer is founder and CEO of two New York-based companies; design consultancy firm Zio & Sons, and real estate company This Old Hudson.

Photo by: Winnie Au

D’Argenzio’s brands are known for his unique combination of concepts, countries, and centuries. His fascination with old-world interiors leads D’Argenzio toward Second Empire gilded mirrors and Chesterfield sofas. Decor that would’ve satisfied the most discerning of The Four Hundred, many of whom had mansions here in the Hudson Valley. Skipping backwards about 100 years, D’Argenzio often pulls influences from the French countryside. Rustic whitewashed floors, reclaimed tile, and weathered finishes abound. He infuses these with twenty-first century hygge minimalism and, of course, modern appliances and amenities.

“I gravitate towards timeless materials; wood, brick, tile, stone, bronze. I love Venetian plaster. I actually taught myself how to do it,” says D’Argenzio, who likes to work with his hands. It’s no surprise that his father was a cabinet maker and his mother an interior design and renovation enthusiast.

Anthony D’Argenzio was born and raised in Sonoma, California. He moved to New York after getting a business degree from Arizona State. In 2012 he founded Zio & Sons, his design production firm. Initially, he focused on providing prop styling, vignettes and backdrops for big brands like West Elm and Anthropologie. Over the course of the next few years, D’Argenzio grew into the role of creative director and producer for his clients’ content, and his own.

His first renovation project was his 450-square-foot East Village apartment. He did most of the work himself, documenting it on social media throughout 2012 and 2013. D’Argenzio acknowledge that this was what ‘put him on the map’ and showed his aesthetic and interior design talents.

“I would often take the Amtrak upstate to explore and to escape the city. I first discovered Hudson in 2014, when I would come up for antique sourcing, and really fell in love with the architecture of the town.” D’Argenzio would end up buying property in Hudson; a deteriorating two-family house built in 1915. Originally, the two-year renovation project was intended as an investment. Instead, he had manifested not only his home, but his first rental property. This became The Studios, a permanent photo-staging site for clients. Today, The Studios remain a highly sought-after venue, available exclusively for photography production, film bookings, and other staging projects.

In 2015, D’Argenzio founded This Old Hudson, providing rentals and renovation services. “It was kind of a natural evolution [into real estate]. I just love old homes, I love renovation, I love working with people,” he says. He sold the East Village apartment that catapulted his brand to social media stardom. Then he quickly purchased another investment property, effectively making Hudson his full-time home.

His second property was a beautifully neglected four-unit, built around 1910. He’d had his eye on, as it sat next door to his current two-family. After a fastidious renovation, the building opened in 2019. It featured four turnkey rentals called The Residences. Each has its own bespoke architecture and furnishings selected by Zio & Sons. This Old Hudson manages the rental side of the business. The properties cater to budding creative entrepreneurs in the Hudson Valley.

The latest showplace is a short-term Airbnb rental that opened its doors this summer. Crowned The Maison, the space is an homage to old-world French style. D’Argenzio documented the renovation in his column with Domino Magazine, as well as on social media accounts. Each of D’Argenzio’s rental spaces lets the turn-of-the-century architecture shine through – a hallmark of the This Old Hudson brand.

“It definitely takes more work to save some of the architectural elements. If something can be saved, I try to save it. There’s so much waste in this world. I like to find salvaged wood, materials, or accents that can add character to a space in unique ways, even if I’m doing something more contemporary.” says D’Argenzio.

A natural extension of his vision, D’Argenzio obtained his real estate license in 2020, selling under luxury brokerage Houlihan Lawrence.

“COVID really sped up my real estate business. I was fortunate my brand was perfectly set up for it. We already have this buyer community, people who love the upstate lifestyle and loved to visit. I had a built-in clientele,” D’Argenzio says.

“The Hudson Valley draws a creative type that loves history, culture, design. The entrepreneurial activity is going to continue growing,” says D’Argenzio. “We’re also in a really great location. We have closeness to the city and amazing old homes. With an emerging economy, and low cost of living. Now with technology changing, being able to work from anywhere, there’s just so much opportunity.”

Although it’s difficult to name to his signature style, for now D’Argenzio is calling it ‘Vintage Modern.’ His style combines gilded age, rustic countryside, art deco, mid-century modern, and minimalism. This is also the chosen aesthetic of the East Coast Millennial generation. The Maker Hotel, Stewart House, Green House Mansion, and The Morgan Statehouse are thriving, drawing tourists from all over the world. Brands like Hammertown Barn, Kabinett & Kammer, and The Modern Exchange are rising to national prominence. To D’Argenzio, it’s no surprise that upstate New York, rich with American history and antiques, would be the nucleus of this trend.

And, it’s no surprise that D’Argenzio’s brands are leading the way.

To learn more about his businesses, visit https://zioandsons.com or https://thisoldhudson.com. Follow his Instagram accounts @zioandsons and @thisoldhudson.

Special thank you to Anthony for taking the time to speak with us about his journey as an entrepreneur in the Hudson Valley.

Interview transplant Upstate New York

5 Up-and-Coming Neighborhoods and Towns In CapNY

Updated: July 2025

Do you want quiet seclusion? Bustling city life and high energy? A little of both?

While the most commonly known cities and towns – Albany, Schenectady, Troy, or Saratoga Springs—are often top of mind, there are smaller neighborhoods and towns sprinkled throughout the region with historic charm and a tangible energy brewing for what’s to come.

Neighborhoods and Towns With Fresh Energy

In CapNY, there are multiple options among these up-and-coming neighborhoods and towns to create the lifestyle you’re looking for. These places are appealing for easy access to the urban centers in the Capital Region, as well as trains and planes. They offer a range of housing options, walkability, river views and mountain highs.

Watervliet

CapNY has no shortage of cities along the Hudson River, and Watervliet is first on our list. This city is known for The Watervliet Arsenal, the oldest continuously active arsenal in the United States. Amy Zawistowski is a marketing professional who moved back to the region after working in the city. Wanting to be closer to family, she found the Arsenal City is a great place to settle down. “It’s laid out in an urban way. Where I live, Walgreens is close by, Price Chopper is walkable. I can walk to the liquor store. I lived in New York City, so I walk whenever I can,” she said.

Zawistowski first lived in other CapNY locations when she moved back to the region. Now she says the convenience of Watervliet is unmatched. “It’s very centrally located,” she said. “With the highway right here, both alternate 7 and 787, I don’t have to go out of my way to get anything.”

The cost of living is reasonable and there are many newer apartment complexes available. More apartments are underway, like The Tilley Lofts and Fenimore Trace apartments. Plus, there are plenty of multi-family homes regularly available throughout the city.

It’s All About Food

If you love food, there’s no better reason to consider this small city. “Schuyler Bakery is amazing. They have the best glazed donuts on the planet,” she said. For more square meals, there are some great options. Enjoy breakfast any time of day (or night!) at Bob’s Diner, wings and beer at the Black Bear Inn, or seafood and pasta at Deacon Blues. To work up an appetite, take a bike ride along the Mohawk Hudson trail. Watervliet has a great parking area to access the trail. Smaller pocket parks are tucked throughout the city.

Cohoes

Cohoes, nicknamed “The Spindle City” for its history as a textile mill town, is in the midst of a renaissance. In the past few years, state grant money has fueled citywide infrastructure improvements. As a result, a host of new businesses have set up along the main drag, Remsen Street, and elsewhere throughout the city. Downtown has everything you need, from great food at The Daisy Bar + Kitchen, sweets at Cake Street Sweets, and unique libations at Bye I Brewing. There’s unique gifts and pharmacy items at Marra’s Pharmacy, and close proximity to Route 9 and the Northway for travel and other needs. Young residents find the small city–population 16,000–to be friendly, lively, and affordable.

“From my neighborhood, downtown is very walkable. It was especially great pre-Covid, when they did concerts downtown. I find Cohoes to be affordable and we are growing in the business department. We have a few really good restaurants and new ones coming. As a community I find something happens the whole city seems to rally around each other. We are small enough to do that,” said resident Erin Roditi, an insurance writer. “My favorite thing to do was walk downtown on a Friday for drinks. I really like just walking around. There is also a short bike path that is especially nice in the spring and summer.”

Scotia

Scotia is just across the river from Schenectady, and this little village has all you need. The main street, Mohawk Avenue, has a family owned grocery store, a locally owned movie theater, a coffee shop (Storied Coffee), a taproom, and more. “We have a lot of great little shops and things that make us unique. We have great restaurants. It’s a nice little walk going down Mohawk Avenue,” said Cathy Gatta, a Scotia resident who frequently works with the downtown business improvement district.

The village has been noticed for its charm by some key players, too. Gabriel’s Supermarket was recently used as a filming location for Amazon Prime’s Modern Love series. Locally owned businesses with great selections are a big draw of the village, she said. “You hardly need to leave Mohawk Avenue to get everything you need,” she said. “It’s walkable, you go to dinner, a movie, get a coffee. It’s a nice night.”

The Scotia Cinema is known for its affordable prices and old-time feel. You can see a movie there for just a few bucks (yes, really). “I can take my family to the movies for about $25, that includes soda and popcorn!” Gatta said. Scotia is home to Collins Park and Jumpin’ Jacks’ Drive In, which offers great food and free concerts, fireworks, and other entertainment in the summer months. There are many options for living spaces as well. There’s luxury apartments, like Scotia Manor, with accessibility to all businesses on Mohawk Avenue and the neighborhoods offer a fantastic community feel too.

Round Lake

The village of Round Lake is a step back in time. The Victorian-style homes are often referred to as “gingerbread houses” for their quirky design elements. The homes are close together and many families have lived there for generations. Younger folks are also moving in, especially those interested in an older home in a unique setting. The village has a library, post office, restaurants, and other businesses, and no big box retail or commercial development. “I liken Round Lake to a tiny city. The houses are close together. There are no high rises, no one is tucked away,” said resident Kim Sheridan. “The village of Round Lake has a quality that I haven’t seen or experienced before in my lifetime.”

A Patchwork Community

Sheridan left New York City in search of a slower pace of life. It’s been a great place to grow closer to her family, enjoy a balanced life creating her crafts, and slowing down overall. “I really believe the proximity of the houses is integral to the way the residents interact. I sort of liken the village to a giant quilt with many pieces stitched together. Many families go back generations,” she said. “New families come in and they become part of the quilt. We’re supporting each other, we’re very tight knit in that way.”

The lake itself is a popular place for recreation in the winter and summer. The Zim Smith trail has an entrance right in the village. “It’s a thoroughfare now. I see bikers, snowmobilers, it’s just out my window. Having proximity to nature is really nice,” said Sheridan. “People are out there all winter playing hockey. There are ice huts. And a lot of kayaks in the summer.” Bikers and runners are drawn to the 8.9 mile trail. Visitors often stop at Leah’s Cakery, a bakery that’s also something of a community hub. Round Lake, and much of Saratoga County has a real estate market with reasonably priced homes that you can make your own.

Glens Falls

If you’re looking to live near nature, the arts, and great eats, Glens Falls is the place. It’s about 40 minutes from Albany and only 20 from Saratoga Springs, and there’s plenty to do in the bustling downtown. This northern city sits on the edge of the Adirondack Park, making it easy to take day trips to complete your list of climbing all 46 High Peaks. Glens Falls is just a few miles from Lake George, Lake Luzerne, and other bodies of water for summer fun.

Downtown has plenty of cool restaurants and shops. A few years back, two brothers-in-law launched Mean Max Brew Works after several years of home brewing. The brewery and taproom has a massive emphasis on community. Though Mean Max doesn’t have a kitchen, they do encourage people to take out from any of the nearby restaurants then grab a drink and a seat.

“Glens Falls is a great community. People are supportive of local, small businesses and value independent shops, restaurants, and taprooms! We love being close to the Adirondacks and all the outdoor adventures they offer,” said Jill Walls of Mean Max. “Importantly, it’s a small city but it has museums, theaters and other cultural opportunities that make it a perfect fit for us. In the era of COVID, we have been blessed by the support of our customers and partnering with local restaurants to create unique partnerships to help each other keep the doors open.”

The arts scene in Glens Falls is a draw. There are great spaces like the Hyde Collection, which features work from, Rembrandt, Rubens, Degas, Renoir, Picasso, and Homer. Glens Falls is home to the Adirondack Theatre Festival.

With state money invested into the city, the best is yet to come. The city was the recipient of a $10 million grant through the NY State Downtown Revitalization Initiative which will focus on rehabbing buildings for housing, supporting the arts, and improving connections to trails. The website Budget Travel ranked Glens Falls as one of the top 10 “Coolest Small Towns in America.” Without question, cost of living is reasonable in this north country city.

Historic Neighborhood up-and-coming

Advice on CapNY’s Hot Market, From 3 First-Time Home Buyers

Many CapNY millennials are finding great single family properties with mortgage payments that are lower than what they were paying in rent. However, with low inventories and fast sales, there can be significant challenges for first-time buyers.

Let’s dive into three recent success stories from across the region.

CapNY’s first-time home buyers face many challenges and a significant learning curve! Three recent home buyers offer their tips for navigating this hot market with less stress and more success.

Laura Kipper, 26 year-old owner of Kipper Consulting, and her husband, Nick Cocilova, 27 year-old supervisor for biotech production at Regeneron, were living in a 2-bedroom apartment on Washington Park in downtown Troy. They loved the location, but it came with a steep $1400/month rent. “Plus, we adopted a dog and knew we wanted more land for her,” explained Laura. The couple now has a total of 3 dogs and 2 cats. “The idea of building equity in our own home rather than paying rent just made sense to us. We wanted a starter place that we could fix up and make money on. And, we wanted to stay in Troy.”

“Interest rates have never been lower, which is great,” Laura said. However, the downside is “the market is absolutely insane. Houses are flying off the market in a day or two because inventory is so low.” They were outbid several times. Laura recommends looking for advantages like being more diligent during winter months, when it’s typically slower. “There is definitely a feeling of pressure to put offers in even if the house isn’t perfect. But it’s really important to be patient and wait for the right house for YOU.”

For 28-year-old first-time home buyer Megan Lee, a field support representative for IDEXX, the process of buying a home was relatively smooth. “I had started the process earlier this year. I moved back to New York after living in Mystic, CT,” she explained. It was an easy decision. “If I was going to put money into where I live, I’d prefer it be mine at the end of the day,” Megan said.

“While looking at homes, I saw they were coming off the market so quickly, at times even within hours,” said Megan. “It’s a seller’s market. And it was hard not to be disappointed.” She narrowed her search to Colonie and Malta, because she felt they offered lower taxes. Megan lucked out when a house right across the street from her childhood home in Colonie became available. She introduced herself to the owner and, “it was a quick meeting. We agreed on a price, and it was a pretty smooth process from there.”

They handled it as a private sale. “The process was very straight forward,” explained Megan “My house is close to everything, including family, friends, and coworkers. I could not be happier with my decision now that I am in my home!”

“Before my home purchase, I was living in a one bedroom apartment, paying $1100 a month,” said Tatiana Monet, the 25-year-old Founder of Home Aesthetic and Real Estate Investor. After her boyfriend Tayvon Taylor moved in, they decided it would be more practical to look for a home. “I think people don’t realize how possible it is to buy a home,” explained Tatiana. “Everyone thinks you have to have $100,000 in the bank. That’s not the case at all.”

She ended up going to a lender out of curiosity to see what she would be approved for. “We got approved for $250,000, which was interesting because at the time I only made $13.50 an hour. That just shows how easy and affordable it is,” explained Tatiana.

Houses were selling very quickly, and she kept being outbid on houses she really liked. “On a random day, my boyfriend found a house online that we both loved. We ended up getting it for way below asking price.” According to Tatiana, you have to act fast with those unique opportunities. The previous owner had passed away, and his family wanted to just sell the property quickly, for cash.

“At the moment, there are not many homes on the market, and the ones that are for sale are extremely competitive,” said Tatiana. “You have to be ready to act quickly.”

As a real estate agent, Tatiana has seen just how hot the market is. “I had a client that wanted a home, and we went to put a bid in on it. There were 72 people that already viewed the house. 50 of them put in an offer.” Tatiana’s advice to a first-time home buyer in CapNY would be to get a fixer-upper. “Even if you’re not savvy, you could buy a house that’s $100,000. Then you put in $20,000 worth of contract work to get the aesthetic you want, you can live in it. Or resell it at a profit.” She sees so many people moving from New York City amazed by CapNY’s affordability. “I had someone paying $1,400 for a tiny studio in NYC, and, here, $1,400 will get you a luxury apartment or a home,” explained Tatiana.

“This area has beautiful historic homes with great bones for great prices. I think a lot of millennials and Gen Zs are nervous. They don’t want to blow their entire savings on an expensive home. The median range is somewhere around $150,000 in most areas, for a three bed, two bath!” A bit of imagination can go a long way, she says, “so [first-time home buyers should] look for the possibilities that a renovation could bring.”

Jess is a journalist and photographer with a focus on food, travel, and entertainment. She’s written for over 10 different local publications in New York State, in addition to the Huffington Post, Cosmopolitan, AAA Northeast, Eater, Dame Traveler, Food52, Insider, Wine Enthusiast, Kitchn, AAA World Magazine, Thrillist, and more. Follow her adventures on Instagram @Adventures.Are.Waiting.

Fixer-Upper Home Owners Housing

5 Millennials On Buying Investment Properties

Many Millennials and Gen Zs are looking for varied revenue and income streams that can help them ride out downturns.

The five people in this article believe that investment properties in CapNY are the right financial right move for them.

Read on for their insight and advice! We got some advice from 5 CapNY millennials on buying investment properties. They shared their experiences on acquiring properties, living and working as landlords, along with many pros and a few cons.

Steve Luttman, 34, is a real estate broker and owner of SJ Lincoln Realty – and, he’s an owner of his own investment properties. “Clients often aren’t aware that many loan products allow first time home buyers to purchase of multifamily buildings,” Steve explained. Meaning, you can receive the benefits of a low down payment mortgage with the added benefit of rental income. In a nutshell: you make money off your property investment. Additionally, “income from the rented units can help you get approval for a mortgage,” Steve said. “In my opinion, being a landlord is the best side hustle out there,” he said.

Over a beer one day, cousins Abel Burgos, a 33-year-old cyber security network engineer, and Dâvid Burgos, a 28-year-old physical therapist, began talking about early retirement plans. This soon led them to purchase two investment properties, both of which they’re already seeing a return on. The first one — a beautiful, three apartment brick building — is in downtown Albany, off of Lark Street. “Currently I live in the house. When we close on the next property, I’m going to live in that one,” Abel said. The new building has four levels, and each apartment has two floors. They’ve managed to find good tenants using a credit check, background check, and application process.

Gabby Fisher is a 28-year-old entrepreneur who is also the senior producer on the CapNY Initiative. Her investment property consists of three apartments, one of which she lives in herself. “In October, I purchased my multi-family property in downtown Schenectady.” The process “felt like a part-time job, especially as a first-time buyer,” explained Gabby. “I was counting on my realtor to guide me throughout the process. But, I also did a lot of research on my own.”

Gabby knew what was important to her: a thriving, walkable downtown, and an older home with a lot of character. “Schenectady stood out to me because you can get so much bang for your buck,” she explained. “I bought a beautiful three-unit home, with a backyard, a huge shed, multiple porches/deck, a driveway!” she exclaimed. “CapNY has so much potential. I believe property values here are going to be going up and up due to this renaissance,” Gabby said. Recently, Realtor.com ranked Schenectady 4th on its list of best cities for first time home buyers! Gabby couldn’t agree more. Gabby admits it’s a ton of responsibility. “If something goes wrong – a pipe or water heater blows, etc., it’s on me. I take on a lot of risk as a homeowner, but it’s worth it.” She plans to invest in additional homes in the near future.

32-year-old accountant Alexander Bodensieck purchased a rental property in Ballston Spa. He used to live in one of the apartments, until he and his wife moved to Glens Falls. They are now managing the apartments. Compared to apartment living, he said, “Owning is a little cheaper,” but admits it’s much more time consuming and stressful. “There are certainly pros and cons of homeownership,” he continued.

“I talked with mortgage brokers that didn’t know the rules on Private Mortgage Insurance (PMI), which was something I wanted to avoid.” (Note: Click here to learn more about PMI / Private Mortgage Insurance here.) Alex said he saved a lot of money for closing costs, but needed more for updates and repairs after purchasing the property. He would advise making sure you have a decent financial buffer for millennials buying investment properties (or the ability to obtain credit) after purchasing a house, to prepare yourself for unexpected costs.

affordable homes albany ballston spa gabby fisher home owner realty rental properties schenectady

Category: Buy or Invest

4 Millennial Changemakers in CapNY Housing

Anthony D’Argenzio: Hudson Valley Entrepreneur

5 Up-and-Coming Neighborhoods and Towns In CapNY

Neighborhoods and Towns With Fresh Energy

Watervliet

It’s All About Food

Cohoes

Scotia

Round Lake

A Patchwork Community

Glens Falls

Advice on CapNY’s Hot Market, From 3 First-Time Home Buyers

5 Millennials On Buying Investment Properties

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