About the Larchmont, New York Area  Overview Rated by CNN/Money Magazine as one of the “Best Places to Live,” the Village of Larchmont is part of the Town of Mamaroneck and encompasses approximately one square mile along the Long Island Sound. There are almost 7,000 residents living in the Village. It is conveniently located under thirty minutes (by train) from Manhattan and offers great schools, parks and easy access to major highways and airports. It also has its own exit (#17) off the Northbound side of I95. Larchmont was named after the many Scotch Larch trees living within its boundaries. It was a Quaker farming town but soon evolved into a popular vacation spot for wealthy New Yorkers who wanted access to the shore, sailing, theaters and grand summer events. By the later 1800’s, many began to settle in Larchmont as permanent residents including many famous actors and playwrights. Larchmont is unique in that unlike many other suburbs of New York, it has not allowed any chain stores or big box retailers to be established in the community. The major retail offerings one will find are primarily small independently owned shops and a local movie theatre. For those products and services that can only be found at a major retailer, residents can easily find them in the neighboring City of New Rochelle which has a Home Depot, Costco, and Super Stop and Shop. Being a Village also means that the residents are able to celebrate major events and holidays as small town. Each year, the local government sponsors a pet parade in the spring; a bike race on Independence Day and a Halloween parade in October. Given its location along the Sound, Larchmont also offers a very active sailing community and hosts many regattas during the summer months. Neighborhoods There are very distinct neighborhoods in Larchmont. The Larchmont Manor is located south of the Boston Post Road offering Colonial and Victorian style homes and direct access to Manor Beach and Larchmont Harbor. Larchmont Gardens is in the northern section of town and offers a more varied mix of home styles including smaller cottages and Colonials all centered around a brook. Larchmont Woods is the central north section of town above I95 and here one will find grand Tudor homes. The neighborhoods in the center of the Village are filled with Colonials and Tudors of all sizes which are all within walking distance to the shops and train.
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First Time Buyers >The Real Bottom Line
An important part of buying a house is sitting down with your real estate agent or a mortgage lender to get a clear idea of how much you can afford. They will add up all of your monthly expenses, the mortgage payment, insurance, real estate taxes, homeowners or condo association fees--and the grand total can throw you into shock!
The important thing to remember is that the grand total isn't really the bottom line. When you add your tax savings to the equation, you may be pleasantly surprised. During the early years of your loan, almost all of the mortgage can be deducted from your state and federal income tax. The same is true of your real estate taxes. If you use part of your house as a home office, you may be able to qualify for additional tax savings. In some areas, homes with ground floor apartments are popular for offsetting part of the mortgage and offering even more tax savings.
When you make calculations about the monthly costs that include the tax savings, you may find that owning your own home is less expensive than renting a house or apartment of comparable size.
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What is the largest city square in the world?
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Located in Beijing, China, Tianamen Square, called the "Gate of Heavenly Peace", covers 98 acres. |
See More Real Estate Trivia > |
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