I feel like we are NEVER going to be able to afford a home on LI. Where is everyone buying homes??? what is an affordable town with a good school district??
Anniegrl
Posted:
Member since
Re: Why are houses so expensive
DH and I have the same problem here in Northern VA. Houses are INSANELY expensive. So we're in the process of moving out to Colorado!
Kelly9904
Posted:
Member since
Re: Why are houses so expensive
It depends on what you find affordable and what you are willing to compromise on. We bought a house in centereach for under $350K that needed almost no work (we are redoing our den, and painting the other rooms, the house was great otherwise) We got everything we wanted and more, but we sacrificed on being closer to work, friends, parents. and we are on a semi busy street But we LOVE our house.
Another popular alternative is to buy a house with an apartment so the mortage payments can be partially offset with the rental income!
HearzBellz
Posted:
Member since
Re: Why are houses so expensive
We just bought a ranch in West Babylon on a large property for less than $350,000, with our taxes being $4200/year (without STAR)
dita531
Posted:
Member since
Re: Why are houses so expensive
I feel your pain. We really want to live in Sayville which is very expensive. We'll probably buy a small 2 bed 1 bath unfortunately most of the house in Sayville are huge.
jar823
Posted:
Member since
Re: Why are houses so expensive
I feel your pain! I don't think we will ever be able to afford a home on LI!
I don't want to leave either! My WHOLE family lives on Long Island. We are saving now and it is really hard! DH always has to spend spend spend!!!!!
simbacat
Posted:
Member since
Re: Why are houses so expensive
I also feel your pain. We are so fortunate that DH's family is helping us out otherwise, we'd be forced to leave New York. It's ridiculous how expensive homes are and the taxes are ridiculous as well. They keep saying wait, the prices will come down, but WHEN, they just seem to keep going higher and higher.
With the help we're getting, we found a home in Commack and are in contract as we speak. We're hoping all works out.
patti08
Posted:
Member since
Re: Why are houses so expensive
We felt the same way. We are now almost clear to close on a house.
We just couldn't see how we'd afford a house. W couldn't understand how anyone could do it.
We sat down with a family friend who is an accountant and analyzed our incomes and how the tax benefits of owning a house works.
We realized that we could afford a much higher mortgage payment than we thought and that there are ways to buy a house and have comfortable mortgage payments without HUGE down payments.
It's not impossible!!!!!!!!!!!!!! Explore your options with a trusted realtor accountant or financial planner, and start a major savings plan...I've been doing my own mani-pedis for 6 months, we bring lunch to work everyday, rent movies instead of going to the movies...
We thought we'd have to get a 2BR starter house. Now we are about to close on a 4 Bedroom, 2 full bath on 1/4 acre in Lindenhurst.
This is why DH and I are leaving Long Island. At least one of the reasons... we can't stand the congestion and the traffic anymore. It's no longer 'fun' for us to say we live on LI. We're in the process of packing up and moving to North Carolina the beginning of August. My mom is coming with us and we have her co-op still on the market. Surprisingly, it hasn't sold yet - we're really bummed about it with the cost of houses and all, everyone said it would sell fast and it hasn't So, my sister will house-sit for us while it's for sale and my mom and I will have to come back when someone is serious about buying it. I'm not thrilled, but we have to leave.
mvecchio
Posted:
Member since
Re: Why are houses so expensive
We bought a three bedroom ranch in Selden for $375,000. It has an apartment in it that we are renting to my co-worker. We were able to afford it that way.
It is crazy!! I grew up in Islip Terrace and you can't touch anything in that area for less than $400,000. It's sad.
