My husband and I decided to buy a multi-family house rather than a single family house...we saved & saved for a down payment and the rent helps tremendously with the mortgage.
We hope to one day buy our dream house but right now, we are happy with our investment.
violet
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Re: Personal Question Regarding Income...
I think getting a two-family house makes much more sense. Decent one-familes are up to upper 300s. But there are some two-familes that go for the 400s. Maybe even upper 300s if it's a fixer-upper which FH could work on. Then you help pay off your mortgage from renting out.
MarcellaBella
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Re: Personal Question Regarding Income...
Posted by Sage10.03
Posted by MarcellaBella
Posted by Sage10.03
Posted by dgtlsunshine
I don't think NJ is very cheap. I have some friends that live there and their taxes are very high. At least to me. They told me it was 7k a year.
That's pretty much the range that DH and I have agreed to pay....(7K, but no more...) We almost put a bid on a house in W.Orange, NJ that had 9K taxes and we just decided it wasn't worth it to us....
But I'm sure LI has some sick taxes as well...
Tell me about it.. We pay 9k on taxes now..
Yikes Marcella!!! We just couldn't do it....although every once in a while, we kick ourselves b/c we really LOVED that house...oh well though, you live and learn.... In some cases, I do think you get what you pay for though... I don't know...This is giving me a headache!
Yeah, it's ridiculous!!! My poor neighbor's taxes just went up to 12k.. these people have to be friggin kidding me.. lol
Xelindrya
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Re: Personal Question Regarding Income...
Im 28 he's 30 (31 next week)
We can't afford crap.
We also can't deal with Jersey or CT because he works in LI (Melville) and I work in the City. We live in Nassau now (sorta half way)
We'll probably end up in Suffolk because theres an odd space between FAR east and Nassau County that's decently priced, but often already full.
Forget buying a house. We just accept that home ownership is out of our league for years to come. Instead we waste money on rent because we need to establish credit and set ourselves up for mortgage.
Really wish our parents could have afforded to help either of us with college, life, housing or wedding. Our whole lives since we both turned 18 has been on us. Our cars, credit, shelter.
When/if we have kids we both agree we want to give our kids the headstart they need. Little to no college loans, car, insurance, place to live if they need until they can/want to move out, half the wedding in their future. Things our parents couldnt do.
NYCHICK
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Re: Personal Question Regarding Income...
Posted by Xelindrya
When/if we have kids we both agree we want to give our kids the headstart they need. Little to no college loans, car, insurance, place to live if they need until they can/want to move out, half the wedding in their future. Things our parents couldnt do.
I have no urges yet for a home. I guess just like the baby fever the house fever will kick in. Something small will do just fine for me.
luvsun27
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Re: Personal Question Regarding Income...
Luckily...although I live in NJ...my taxes are fairly cheap...because of where I live. I only pay $3500 for a condo=no land (same as merf99). I live in East Rutherford...where the meadowlands stadium is. So there is a lot of state funding in this town to keep taxes down.
However...if I decided to go back to working in Manhattan...I would be double taxed (2 state taxes...plus NYC tax) and that's not fun either.
My family lives on LI...and I visit often. FH would love to move to Oregon...but I'm a chicken and I think I would be too homesick especially when we had children. At this point...we will be living in my condo until one of us hits the lotto and can afford a bigger house
I am with you here... I have no desire for a big house!!! MORE TO CLEAN!!!
although our average house price here is higher than even Nassau (we just topped $470K!!) the taxes are relatively low...and for that I am greatful...
Becky
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Re: Personal Question Regarding Income...
I live in MD and this post is the reason that I will never move back to LI. I love my house so much and I know that we would be paying, literally, twice what we paid for it on LI.
merf99
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Re: Personal Question Regarding Income...
Becky- where do you live in MD? I went to school in the Baltimore area and my best friend just moved to Bethesda (which is probably the same prices as NY!)
heidla
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Re: Personal Question Regarding Income...
We both live and work in the city. We recently purchased our first home. It is a comfortable 1 br co-op with a spacious 800sf. Now, we originally set out to get a 2br, but that would have meant moving out of the city. A move that we are not ready to make. So, we settled on our current location. It is a nice up and coming neighbohood and we love our new home. We also decided that it was better to go ahead and purchase and try to build equity rather then throwing our money away by paying rent. Our mortgage and maitenence payments are lower then my old rent. Plus, I just saw the same apartment in our building listed at $20,000 more then our places list price. Hey, if we can make even a small profit when we sell it will be extra money for the downpayment on the next ( bigger) home.
MrsTC
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Re: Personal Question Regarding Income...
Posted by Sage10.03
Posted by NYCHICK
nyc on the whole in UNREAL.....5 boroughs AND LI sucks........I house went up for sale on my block for 350,000 there is no way that house is worth that, there is just no way.........I will be taking it cross the river to jersey when i get preggo...........
Trust me when I say that any town in Jersey that is really nice is going to rival LI's prices BIG TIME!!!! I know....I live there.... 350K is lowballing a 2 to 3 bdrm. cape in the areas we have been looking at...
I think people have misconceptions about Jersey being cheaper....JMO
Sage certain areas, thats true....but my DH and I have been looking in very nice safe areas and the houses are in the range of $220k-$275k
merf99
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Re: Personal Question Regarding Income...
Where are you looking in NJ?
MrsTC
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Merf -
Union, Somerset and Middlesex counties...
merf99
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We're looking in Union County too! Maybe we will be neighbors one day!
MrsTC
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i am going to FM you
Sage10.03
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Posted by MrsTC
Merf -
Union, Somerset and Middlesex counties...
MrsTC - be careful in Middlesex County - we have learned a lot about it recently that has turned our search elsewhere.... FM if you want....
WHat towns specifically are you looking in.... FM me!
