Any great sites for townhouses/condos/coops

We went to my parents for dinner today & they are in a gated community, private house, but they have townhouses/condos in their community at about 250k. FH was just saying, you know maybe we should look into that for a few years so at least we own something.

We love their community, but they are OUT THERE....Middle Island....does anyone know any communities a bit closer in?! With townhouses/condos, etc.

Thanks

you won't find many of those for a cheap prices in western suffolk.

mlsli has condo/townhouse/co-op listings.

some listing don't say they are in a commnity or not, but most do.

if you are looking for 1 br, we have some in my complex when you came over last time. it is a nice start i think... we are in a co-op we brought ours for less then 175k... 1 br are even cheapier

---

Posted by SweetCin704

Thanks Tom, we're so stuck on what we want to do....kills us to pay high rent to pay someone else's mortgage...

---

we used to be in that boat...
we looked at many houses but decided to do a coop until money and houses improve.

so now, we are at least benefiting ownership now but in an apt. style home.... not what i wanted but it will do

One sight that I'm constantly on is

www.laffey.net

you can put queens, nassau, or suffolk

you can be town specific

you can put homes or condos/and co ops

and you can search by desired price range..

HTH nina

---

Posted by SweetCin704

Thanks Tom, we're so stuck on what we want to do....kills us to pay high rent to pay someone else's mortgage...

---

You aren't paying someone else's rent. You are paying for a place to live. Quite invaluable IMO.

If you buy a house... theoretically you are 'padding uncle sam's wallet'.

---

Posted by DjPiLL

---

Posted by SweetCin704

Thanks Tom, we're so stuck on what we want to do....kills us to pay high rent to pay someone else's mortgage...

---

You aren't paying someone else's rent. You are paying for a place to live. Quite invaluable IMO.

If you buy a house... theoretically you are 'padding uncle sam's wallet'.

---

Thank you Rich!
I had the same thoughts as Cindy for so long and it sounds nice for someone to put it the way you did. You're the BEST!

---

Posted by 103005FallBride

---

Posted by DjPiLL

---

Posted by SweetCin704

Thanks Tom, we're so stuck on what we want to do....kills us to pay high rent to pay someone else's mortgage...

---

You aren't paying someone else's rent. You are paying for a place to live. Quite invaluable IMO.

If you buy a house... theoretically you are 'padding uncle sam's wallet'.

---

Thank you Rich!
I had the same thoughts as Cindy for so long and it sounds nice for someone to put it the way you did. You're the BEST!

---

I agree! renting isn't flushing money down the toilet. I need a place to live right? and as long as I am in NY, rent is a LOT cheaper than buying a house.

DH and I are saving $$$$$$$$$ so we can buy a house with a livable monthly payment

---

Posted by dleeny

---

Posted by 103005FallBride

---

Posted by DjPiLL

---

Posted by SweetCin704

Thanks Tom, we're so stuck on what we want to do....kills us to pay high rent to pay someone else's mortgage...

---

You aren't paying someone else's rent. You are paying for a place to live. Quite invaluable IMO.

If you buy a house... theoretically you are 'padding uncle sam's wallet'.

---

Thank you Rich!
I had the same thoughts as Cindy for so long and it sounds nice for someone to put it the way you did. You're the BEST!

---

I agree! renting isn't flushing money down the toilet. I need a place to live right? and as long as I am in NY, rent is a LOT cheaper than buying a house.

DH and I are saving $$$$$$$$$ so we can buy a house with a livable monthly payment

---

depends what you are renting and how much space you need/want.....

there is a postive and negative thing to everything..

some have better situations then others when it comes to renting/staying with parents, etc...

---

Posted by MCDO15

depends what you are renting and how much space you need/want.....

there is a postive and negative thing to everything..

some have better situations then others when it comes to renting/staying with parents, etc...

---

True, but it works for me!!!
We currently live in the neighborhood we want to live in.
We currently live in the type of house we want to live in.
We have AMAZING landlords, who have become 'family' to us in such a short time.
Our apt is a ranch house. They blew up and out on the house for her parents. When they both passed we were fortunate enough to be the ones to get this amazing apt for the same price we were paying at the 'other place' . (Bad memories!)
We have plenty of room even to raise a child in this space.
Some day we loved to own a house, but we're not going to settle for any old house in any old area that we do not want to spend the rest of our years in. Also, we're not fans of condo/coop/townhouse/ apt bldg living. We love being in a house apt.

---

Posted by DjPiLL

---

Posted by SweetCin704

Thanks Tom, we're so stuck on what we want to do....kills us to pay high rent to pay someone else's mortgage...

---

You aren't paying someone else's rent. You are paying for a place to live. Quite invaluable IMO.

If you buy a house... theoretically you are 'padding uncle sam's wallet'.

---

Not that there is anything wrong with renting, cause there certainly isnt (everyone needs a place to live), but Id take owning real estate anyday over renting. If you coud afford to buy something, even something minimal, you have to do it. Here is why:

We bought a co-op for $120,000 and saw it appreciate in value to over $280,000!!! When we decide to sell, we will profit over $150k. Here is the kicker: the beauty of homeownership says that you can take up to $500k profit, tax free! I'd say to he** with Uncle Sam's wallet and hello to my rather large bank acount!!! Home ownership is really a no brainer. Do it if you can!

---

Posted by dandg

---

Posted by DjPiLL

---

Posted by SweetCin704

Thanks Tom, we're so stuck on what we want to do....kills us to pay high rent to pay someone else's mortgage...

---

You aren't paying someone else's rent. You are paying for a place to live. Quite invaluable IMO.

If you buy a house... theoretically you are 'padding uncle sam's wallet'.

---

Not that there is anything wrong with renting, cause there certainly isnt (everyone needs a place to live), but Id take owning real estate anyday over renting. If you coud afford to buy something, even something minimal, you have to do it. Here is why:

We bought a co-op for $120,000 and saw it appreciate in value to over $280,000!!! When we decide to sell, we will profit over $150k. Here is the kicker: the beauty of homeownership says that you can take up to $500k profit, tax free! I'd say to he** with Uncle Sam's wallet and hello to my rather large bank acount!!! Home ownership is really a no brainer. Do it if you can!

---

Not true. If you sell your primary residence within 2 years of ownership, you have to pay capital gains tax. You are not just entitled to the profit you make. Of course, it is better to own then rent, but profit is not always tax free.

---

Posted by diluvchu

---

Posted by dandg

---

Posted by DjPiLL

---

Posted by SweetCin704

Thanks Tom, we're so stuck on what we want to do....kills us to pay high rent to pay someone else's mortgage...

---

You aren't paying someone else's rent. You are paying for a place to live. Quite invaluable IMO.

If you buy a house... theoretically you are 'padding uncle sam's wallet'.

---

Not that there is anything wrong with renting, cause there certainly isnt (everyone needs a place to live), but Id take owning real estate anyday over renting. If you coud afford to buy something, even something minimal, you have to do it. Here is why:

We bought a co-op for $120,000 and saw it appreciate in value to over $280,000!!! When we decide to sell, we will profit over $150k. Here is the kicker: the beauty of homeownership says that you can take up to $500k profit, tax free! I'd say to he** with Uncle Sam's wallet and hello to my rather large bank acount!!! Home ownership is really a no brainer. Do it if you can!

---

Not true. If you sell your primary residence within 2 years of ownership, you have to pay capital gains tax. You are not just entitled to the profit you make. Of course, it is better to own then rent, but profit is not always tax free.

---

I'm sorry, but your wrong...And I quote from bankrate.com 'When you sell your primary residence, you can make up to $250,000 in profit if you're a single owner, twice that if you're married, and not owe any capital gains taxes.'

---

Posted by diluvchu

---

Posted by dandg

---

Posted by DjPiLL

---

Posted by SweetCin704

Thanks Tom, we're so stuck on what we want to do....kills us to pay high rent to pay someone else's mortgage...

---

You aren't paying someone else's rent. You are paying for a place to live. Quite invaluable IMO.

If you buy a house... theoretically you are 'padding uncle sam's wallet'.

---

Not that there is anything wrong with renting, cause there certainly isnt (everyone needs a place to live), but Id take owning real estate anyday over renting. If you coud afford to buy something, even something minimal, you have to do it. Here is why:

We bought a co-op for $120,000 and saw it appreciate in value to over $280,000!!! When we decide to sell, we will profit over $150k. Here is the kicker: the beauty of homeownership says that you can take up to $500k profit, tax free! I'd say to he** with Uncle Sam's wallet and hello to my rather large bank acount!!! Home ownership is really a no brainer. Do it if you can!

---

Not true. If you sell your primary residence within 2 years of ownership, you have to pay capital gains tax. You are not just entitled to the profit you make. Of course, it is better to own then rent, but profit is not always tax free.

---

There is definitely such a thing as paying capital gains tax!!!

---

Posted by dandg

---

Posted by diluvchu

---

Posted by dandg

---

Posted by DjPiLL

---

Posted by SweetCin704

Thanks Tom, we're so stuck on what we want to do....kills us to pay high rent to pay someone else's mortgage...

---

You aren't paying someone else's rent. You are paying for a place to live. Quite invaluable IMO.

If you buy a house... theoretically you are 'padding uncle sam's wallet'.

---

Not that there is anything wrong with renting, cause there certainly isnt (everyone needs a place to live), but Id take owning real estate anyday over renting. If you coud afford to buy something, even something minimal, you have to do it. Here is why:

We bought a co-op for $120,000 and saw it appreciate in value to over $280,000!!! When we decide to sell, we will profit over $150k. Here is the kicker: the beauty of homeownership says that you can take up to $500k profit, tax free! I'd say to he** with Uncle Sam's wallet and hello to my rather large bank acount!!! Home ownership is really a no brainer. Do it if you can!

---

Not true. If you sell your primary residence within 2 years of ownership, you have to pay capital gains tax. You are not just entitled to the profit you make. Of course, it is better to own then rent, but profit is not always tax free.

---

I'm sorry, but your wrong...And I quote from bankrate.com 'When you sell your primary residence, you can make up to $250,000 in profit if you're a single owner, twice that if you're married, and not owe any capital gains taxes.'

---

I don't think that's entirely correct. There is a 2 year period that you have to get passed. Unless that has changed from last year.

---

Posted by dandg

I'm sorry, but your wrong...And I quote from bankrate.com 'When you sell your primary residence, you can make up to $250,000 in profit if you're a single owner, twice that if you're married, and not owe any capital gains taxes.'

---

OMG... such misinformation being passed along in this thread.

You didn't read the entire bankrate article then. You are allowed up to 250k in tax-free gains if you are single... or 500k if you are married... if you have occupied the home as your primary residence for two of the past five years (doesn't have to be consecutive).

If you buy a home and sell in a year for a 150k gain... you are taxed pro-rated for the time you are there. In this case... since you were there for one of the two required years... 75k of your gain is taxed at the typical 15% gains tax rate.


And while its great for you that you made 150k in profit from your co-op.... if you honestly think the next piece of property you buy is going to appreciate 150k in a year or two... you are sadly mistaken. Those days of big gains are over (for now).

It was a great time for people to buy BACK THEN when the prices were low. Now in this day of high housing... its only good to buy if you plan on being there for the long term.... minimum of 5 years.

---

Posted by DjPiLL

---

Posted by dandg

I'm sorry, but your wrong...And I quote from bankrate.com 'When you sell your primary residence, you can make up to $250,000 in profit if you're a single owner, twice that if you're married, and not owe any capital gains taxes.'

---

OMG... such misinformation being passed along in this thread.

You didn't read the entire bankrate article then. You are allowed up to 250k in tax-free gains if you are single... or 500k if you are married... if you have occupied the home as your primary residence for two of the past five years (doesn't have to be consecutive).

If you buy a home and sell in a year for a 150k gain... you are taxed pro-rated for the time you are there. In this case... since you were there for one of the two required years... 75k of your gain is taxed at the typical 15% gains tax rate.


And while its great for you that you made 150k in profit from your co-op.... if you honestly think the next piece of property you buy is going to appreciate 150k in a year or two... you are sadly mistaken. Those days of big gains are over (for now).

It was a great time for people to buy BACK THEN when the prices were low. Now in this day of high housing... its only good to buy if you plan on being there for the long term.... minimum of 5 years.

---

Great info Rich, but chill a little.

---

Posted by Blu-ize

Great info Rich, but chill a little.

---

I know. But when you say the same thing... over and over and over... and the same incorrect points still come up. You tend to go




And the sad thing is... even though this law has been around for at least 4+ years... there are people out there that think they can avoid the capital gains tax on their primary residence if they 'flip' the money into a new house.

A simply google search of 'capital gains real estate' would give you a ton of info.

---

Posted by DjPiLL

---

Posted by dandg

I'm sorry, but your wrong...And I quote from bankrate.com 'When you sell your primary residence, you can make up to $250,000 in profit if you're a single owner, twice that if you're married, and not owe any capital gains taxes.'

---

OMG... such misinformation being passed along in this thread.

You didn't read the entire bankrate article then. You are allowed up to 250k in tax-free gains if you are single... or 500k if you are married... if you have occupied the home as your primary residence for two of the past five years (doesn't have to be consecutive).

If you buy a home and sell in a year for a 150k gain... you are taxed pro-rated for the time you are there. In this case... since you were there for one of the two required years... 75k of your gain is taxed at the typical 15% gains tax rate.


And while its great for you that you made 150k in profit from your co-op.... if you honestly think the next piece of property you buy is going to appreciate 150k in a year or two... you are sadly mistaken. Those days of big gains are over (for now).

It was a great time for people to buy BACK THEN when the prices were low. Now in this day of high housing... its only good to buy if you plan on being there for the long term.... minimum of 5 years.

---

Now I'm very confused form reading this insanity. As DJPill stated, 'You are allowed up to 250k in tax-free gains if you are single... or 500k if you are married... if you have occupied the home as your primary residence for two of the past five years (doesn't have to be consecutive)'.
Isnt that what I said? Hmm, lets see....' 'When you sell your primary residence, YOU CAN make up to $250,000 in profit if you're a single owner, twice that if you're married'. You know what?, it is what i said! So please Mr. Accountant, please tell me what information was misinformed??

And who said anything about buying another piece of property and watching it appreciate?? All I said was if you can, its almost always better to buy and own than rent, b/c there is a very good chance that your home will appreciate in value!
I think some of us need to mind our own business!

---

Posted by dandg

---

Posted by DjPiLL

---

Posted by dandg

I'm sorry, but your wrong...And I quote from bankrate.com 'When you sell your primary residence, you can make up to $250,000 in profit if you're a single owner, twice that if you're married, and not owe any capital gains taxes.'

---

OMG... such misinformation being passed along in this thread.

You didn't read the entire bankrate article then. You are allowed up to 250k in tax-free gains if you are single... or 500k if you are married... if you have occupied the home as your primary residence for two of the past five years (doesn't have to be consecutive).

If you buy a home and sell in a year for a 150k gain... you are taxed pro-rated for the time you are there. In this case... since you were there for one of the two required years... 75k of your gain is taxed at the typical 15% gains tax rate.


And while its great for you that you made 150k in profit from your co-op.... if you honestly think the next piece of property you buy is going to appreciate 150k in a year or two... you are sadly mistaken. Those days of big gains are over (for now).

It was a great time for people to buy BACK THEN when the prices were low. Now in this day of high housing... its only good to buy if you plan on being there for the long term.... minimum of 5 years.

---

Now I'm very confused form reading this insanity. As DJPill stated, 'You are allowed up to 250k in tax-free gains if you are single... or 500k if you are married... if you have occupied the home as your primary residence for two of the past five years (doesn't have to be consecutive)'.
Isnt that what I said? Hmm, lets see....' 'When you sell your primary residence, YOU CAN make up to $250,000 in profit if you're a single owner, twice that if you're married'. You know what?, it is what i said! So please Mr. Accountant, please tell me what information was misinformed??

And who said anything about buying another piece of property and watching it appreciate?? All I said was if you can, its almost always better to buy and own than rent, b/c there is a very good chance that your home will appreciate in value!
I think some of us need to mind our own business!

---

Actually what you said was that I was wrong, that there are no capital gains taxes, which is not true, there is.