From the NYT:
EMILY De NICOLO has lived in Manhattan for the last 14 years. But as she and her husband, Jay Della Monica, prepare for the arrival of their first child, in August, city life is looking more and more like a thing of the past. In fact, the couple are anticipating a future in Port Washington, Ms. De Nicolo’s childhood home.
They will soon be closing on a five-bedroom three-bath split-level ranch, at the other end of the block from the house she grew up in, a custom contemporary for which her parents paid $76,000 in 1976. “You can add a zero to that,” she said of the price she and Mr. Della Monica are paying as a result of a bidding war with three other couples. “Port Washington is a little more diverse than other towns, and it is an ideal commute to the city,” she said. “It is more favorable for young families, and you have a great school district, especially with a baby on the way.”
Ms. De Nicolo, 37, and Mr. Della Monica, 42, are part of a small number of young adults who are moving back to the Island after spending their post-college years in the city. Notwithstanding the contentions of local planners and elected officials that a tide of young adults is moving away, some are bucking that trend, though perhaps after a longer hiatus than in previous generations who married, had children and moved to the suburbs sooner.
Ryan Patrick Donnelly II, the president and managing partner of the Donnelly Group, a real estate firm in Garden City, said, “Pretty much 50 percent of the buyers coming into town either grew up here or have friends here.” Most moved to Manhattan after college, stayed for about a decade, married and started a family.
“They either move back right after the children are born or when the kids are nursery-school age,” he said, citing the high nursery-school tuition in the city as a motivating factor. And there is another important one: Instead of nannies, most people in the suburbs “have the grandparents to take care of the kids.”
Many would stay in the city if they could afford apartments large enough to accommodate their families, Mr. Donnelly said, “but rents are so high in Manhattan they are being forced out. With salary increases not keeping pace with rent hikes and interest rates so low, it makes sense” to return to the Island.
They aren’t, however, relying on the Bank of Mom and Dad to finance their purchase. The buying couples are in their mid- to late 30s and are “pretty much all self-sufficient,” Mr. Donnelly said. “They have been saving and living in small apartments” to be able to buy homes in the $600,000-to-$800,000 range.
Even their English bulldog “is exponentially happier out here than in the city.” Come October they will be renting a four-bedroom carriage house in Mill Neck for about $3,000 a month, with the possibility of improving the home and grounds in lieu of rent. Among their friends, Mr. DiPietro said, “we are a little ahead of the charge, but the ones who grew up out here seem envious of our move.”