There is a couple who has lived in the same house in Hartsdale for nearly 30 years. With both children married and moved out, only the two of them remain, and they have recently started seriously considering moving closer to their daughter and her husband, who have settled in New Jersey. They feel that while they have extra rooms and a large yard, their current home feels far away when they want to see their grandchildren often.

Many people share these concerns. When deciding whether to maintain a single-family home or move to a less maintenance-intensive place like a condo or townhome, the first thing that catches their eye is the difference in sale prices. The median sale price of single-family homes in Hartsdale is currently $470,000 based on the last 12 months, while the median listing price for condos in the same area is around $300,000 (according to Redfin). This means that with the same budget, moving to a condo could leave them with extra funds.

However, judging solely by sale prices can overlook important factors. Condos and townhomes come with monthly HOA fees, which cover costs for shared maintenance like building exterior repairs, landscaping, and snow removal. In a single-family home, homeowners must handle these tasks themselves or hire a service, which can lead to unexpected expenses for snow removal labor or roof repairs during heavy winter snowfall. On the other hand, condos have fixed monthly fees, making budgeting easier.

Among the maintenance costs, heating and cooling expenses are often the most noticeable after retirement. As of December 2025, the average electric bill in New York State is $175.02 per month, based on usage of 639 kilowatt-hours. The rate of 27.39 cents per kWh is significantly higher than the national average of 17.24 cents. Additionally, Con Edison has implemented a rate increase of about 5.7% in 2026 due to rising supply costs. Single-family homes tend to have larger heating and cooling areas, making these costs feel more burdensome, while condos or townhomes generally have smaller areas, resulting in more stable monthly bills.

Property taxes are another important consideration. The median property tax in Westchester County is $9,003 per year, based on a median home value of $556,900, which translates to an effective tax rate of about 1.62%. For those over 65, there is the Enhanced STAR program, which offers school tax reductions. For the 2026 school year, those with an income of $110,750 or less qualify, receiving an additional reduction of $1,000 to $1,800 compared to the regular STAR program. Furthermore, if income is below $58,400, the SCHE program allows for a reduction of up to 50% of the assessed value. However, both programs have income thresholds and application processes that change slightly each year, so it's advisable to check the current criteria with the local assessor's office.

• Single-family home - Offers ample space and yard but places the full burden of maintenance and heating/cooling costs on the homeowner.
• Townhome - Reduces maintenance burden compared to a single-family home, but HOA fees are fixed monthly expenses.
• Condo - Has the highest management fees but relieves homeowners from direct responsibility for snow removal and exterior repairs.

In areas like Hartsdale with good school districts, the supply of condos is not abundant. Families with children still in school consistently seek single-family homes in this neighborhood, which helps keep sale prices stable. It's advisable to monitor the market conditions rather than rush to organize a move from the current home.

Once registered for the Enhanced STAR program with the New York State Department of Taxation, it automatically renews each year, but SCHE often requires annual income documentation to be submitted again to the local assessor's office. Preparing documents in advance can make applying for both programs easier.

Ultimately, if considering downsizing in Hartsdale, it seems practical to compare moving to a condo to reduce management burdens while using the remaining funds for living expenses or visits from grandchildren, against maintaining the current home and maximizing property tax reduction benefits. This article does not constitute investment advice or legal counsel, and it is recommended to consult with a tax advisor or real estate professional to assess personal circumstances before making any decisions.