I'm depressed! Why is owning a home on Long Island nearly impossible?
gfield101
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I'm depressed! Why is owning a home on Long Island nearly impossible?
After living together in our wonderful one bedroom apartment and 2 pups! We are leaving Queens to move back to long island... in parents basement apartment
With needing 20% down for a mortgage these days it seems impossible to save for a house! So now we are going to start our marriage living under my parents roof and im almost 29!
I just dont understand, why cant two responsible full time working adults be able to own a house on Long Island????
bluegreen08
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Re: I'm depressed! Why is owning a home on Long Island nearly impossible?
Mrs. V 2008
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Re: I'm depressed! Why is owning a home on Long Island nearly impossible?
Its super hard..as a homeowner and dealing with the expenses of a wedding..its really tough..i've been so stressed for weeks...we hardly have a penny to ourselves..its just going to bills,bills and more bills.. and the market keeps getting worse..so now no banks want to lend you money which makes it that much harder to get a mortgage
040508Bride
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Re: I'm depressed! Why is owning a home on Long Island nearly impossible?
it's no better in NJ.....i hate this
Jenn04
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Re: I'm depressed! Why is owning a home on Long Island nearly impossible?
I know it is so crazy and forcing so many people our age to move away! LI/NY/NJ are just so ridiculously priced! Its not fair and I feel bad for so many people I know that are still living at home (at age 28) or renting a tiny place. I am not saying that to offend anyone...its just how it is and its totally accepted. Even on duel income its so hard to save and buy a house! ITs really just not fair.
As for your case...I think you are doing the right thing and you will be able to save alot of money that way. I know its not a dream situation...but in the long run you will get your house! Keep your spirits up!
FutureMrsCarrieri
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Re: I'm depressed! Why is owning a home on Long Island nearly impossible?
at least you have the option of going home to save -- we have to do it entirely on our own
Mrs. V 2008
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Re: I'm depressed! Why is owning a home on Long Island nearly impossible?
Posted by Jenn04
I know it is so crazy and forcing so many people our age to move away! LI/NY/NJ are just so ridiculously priced! Its not fair and I feel bad for so many people I know that are still living at home (at age 28) or renting a tiny place. I am not saying that to offend anyone...its just how it is and its totally accepted. Even on duel income its so hard to save and buy a house! ITs really just not fair.
As for your case...I think you are doing the right thing and you will be able to save alot of money that way. I know its not a dream situation...but in the long run you will get your house! Keep your spirits up!
I agree..living with my parents for the past 26 years definately helped..it was so much easier to save..keep your head up!
Soon2BMrsC09
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Re: I'm depressed! Why is owning a home on Long Island nearly impossible?
i would be happy that atleast you have somewhere to go where you can save - our rent is like a mortgage payment - we looked into buying a house recently - with our down payment and where we need to be monthly - realistically - we would need a house for like under $250k - im not sure where those houses are - but the mortgage broker said thats the range.....
Mrs. V 2008
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Re: I'm depressed! Why is owning a home on Long Island nearly impossible?
Posted by Nicole Marie
i would be happy that atleast you have somewhere to go where you can save - our rent is like a mortgage payment - we looked into buying a house recently - with our down payment and where we need to be monthly - realistically - we would need a house for like under $250k - im not sure where those houses are - but the mortgage broker said thats the range.....
look out east!!! they're much cheaper!!!
chrissybean77
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Re: I'm depressed! Why is owning a home on Long Island nearly impossible?
I know it's hard to buy a house on LI. FH and I went through this last year and it really is tough. You will though eventually figure out a way, and it looks like you and FH are being very responsible about saving by moving back home. So sending you lots of Oh and I just noticed your wedding date is the same as my parents. Hopefully it will bring you as much luck as it brought them....33 yrs this summer of marriage and still going strong, 4 kids and a house in Suffolk (which by the way they also had to move back in with my grandparents shortly after they got married). I know its tough but I'm sure together you and FH will find a way to get the house you want.
chrissybean77
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Re: I'm depressed! Why is owning a home on Long Island nearly impossible?
Posted by Bride 2 Be
Posted by Nicole Marie
i would be happy that atleast you have somewhere to go where you can save - our rent is like a mortgage payment - we looked into buying a house recently - with our down payment and where we need to be monthly - realistically - we would need a house for like under $250k - im not sure where those houses are - but the mortgage broker said thats the range.....
look out east!!! they're much cheaper!!!
They definitely are out there. My brother and SIL have been looking in this range and just found a house. Good luck with your search!
klovess14
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Re: I'm depressed! Why is owning a home on Long Island nearly impossible?
My FH and I are waiting till the end of May to get pre-approved. I just don't want to hear the dreaded news that you can't afford one. I don't have a big don't payment cause if I tried to save 20% it would take a years!!! I don't understand why they make it so hard to own a home. If I can make the monthy payments who cares how much I put down.
ant n tilde
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Re: I'm depressed! Why is owning a home on Long Island nearly impossible?
Don't feel bad. DH and I are currently living with my parents to save money for a down payment. I was nervous about it but it has been really great so far. And it is worth it - I just think of how great our story will be when we tell our kids how we sacrificed for our first house.
Jonas9281
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Re: I'm depressed! Why is owning a home on Long Island nearly impossible?
Posted by gfield101
After living together in our wonderful one bedroom apartment and 2 pups! We are leaving Queens to move back to long island... in parents basement apartment
With needing 20% down for a mortgage these days it seems impossible to save for a house! So now we are going to start our marriage living under my parents roof and im almost 29!
I just dont understand, why cant two responsible full time working adults be able to own a house on Long Island????
You don't need 20% down!! we just bought and we only put 10% down...but there are FHA loans where you only need 3% loans!! look into it!!
dannisayz
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Re: I'm depressed! Why is owning a home on Long Island nearly impossible?
I know how you feel. FH and I live with FMIL (I hate it by the way and I cannot wait to leave) and we're trying to save for a house. I looks like I can afford one . . . in 30 years.
klovess14
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Re: I'm depressed! Why is owning a home on Long Island nearly impossible?
My sister told me that I could move in with her and her husband but I don't feel comfortable doing that. They just got married so I don't want to make it hard on them. My sister has a twin and her husband feels like he's married to both of them because she pratically lives there. I feel bad.
Munchkn16
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Re: I'm depressed! Why is owning a home on Long Island nearly impossible?
Posted by gfield101
After living together in our wonderful one bedroom apartment and 2 pups! We are leaving Queens to move back to long island... in parents basement apartment
With needing 20% down for a mortgage these days it seems impossible to save for a house! So now we are going to start our marriage living under my parents roof and im almost 29!
I just dont understand, why cant two responsible full time working adults be able to own a house on Long Island????
Just an FYI, but you don't necessarily need 20% down, esp if your credit is good. Figure out what kind of payment (morgage and taxes) you can make monthly, and go from there. It IS possible. Good luck!
edited for spelling
Cutechef729
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Re: I'm depressed! Why is owning a home on Long Island nearly impossible?
Awe!!!!! It's so hard! FH and I live in the basement of his parents house until we have enough for a down payment. It's still so hard to save but at least it's nice knowing that our families really want us to be able to afford a house and are willing to help us out. It will take some adjusting but it will get better!
AllyDrew1108
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Re: I'm depressed! Why is owning a home on Long Island nearly impossible?
Same deal for NJ. FH's mom is begging us to move in w/her to save money. I can't do it. She's so involved - like she calls FH 3x a day and is just so in your face, it will ruin us. I don't know what to do... I wish i got out of debt before I moved out of my mom's house years ago.
lonal
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Re: I'm depressed! Why is owning a home on Long Island nearly impossible?
I bought a house last year in Farmingville. It's not too expensive here and the taxes are reasonable. Ilove my neighborhood.
However, it took me 32 years so I feel for you. The economy is deadly. Thank goodness for your parents! Appreciate it and make the best of it and everything will work out for you! Good luck!
