What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

Re: What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

A lot of money!!!!!

Re: What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

I used to work in Manhasset...I would say that you would need to have a six or seven figure income to live there

Re: What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

Depends on how much $$ you have to put down on a house ...

Re: What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

I would say at least over $200K.

Re: What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

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Posted by beautyq115

I used to work in Manhasset...I would say that you would need to have a six or seven figure income to live there

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I AGREE!!!

Re: What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

A lot, but there are plenty of other nice LI towns w/ good school districts out there where houses cost a lot less.

Re: What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

Wow 7 figures seems really high, I guess it depends on what kind of house it is, but lets say its about 1million or 1.5 would you really need a 7 figure salary. I think a mid 6 figure salary would be sufficient, I am just curious.

Re: What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

I would say minimum $150K combined income.

Re: What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

My parents live in a 5 bedroom split level ranch house in Roslyn Heights - Herricks Public Schools. They pay over $12,000 in taxes alone. My father has been retired for 8 years with a fixed income coming from the rental of a commercial property in Brooklyn. The other houses in the neighborhood, which are three bedroom houses (ours had a two bedroom extension with a full bathroom to make it a 5 bedroom) are currently on the market for over $700,000. So their house would go for a considerable amount more. Dad certainly made well within a six figure salary at the time of his retirement I am guessing, but they finished paying for their house MANY years ago. That being said, I am going to guess that a combined income of at least $300,000/year MAY work to afford a home in the areas you described. Probably more.

Re: What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

Re: What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

Me and FH will never be able to afford to give a home and a lifestyle like that to my family. We were the first generation to be worse off than our parents. Oh well.

Re: What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

Go on real estate websites and look in those circulars - you can get an idea of how much houses are running. It's a great time to buy right now! Interest Rates are VERY LOW.

Re: What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

Re: What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

Re: What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

Re: What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

My family is from Great Neck so I know how much houses go for, I am just curious what a young couple really needs to afford one. The real estate there is insane, houses that were going for 900's about 4 years ago are in the 1.5 million range and up. Crazy!!

Re: What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

Re: What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

Really rough equation for figuring out what you can afford for housing is 3 times your combined income.

Re: What kind of income do you think you have to have to afford a home in a nice LI town ( manhasset, roslyn)?

I would definitely say minimum $250,000. And you probably would be the poorest on the block!