FH and I were looking at houses and realized that it will probably be a while before we can actually afford one! I was wondering where everyone is living after they are married.... (or other, which I couldn't fit in the poll...explain)
lillian771
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Re: Where are you living....POLL
Posted by fashionhag
Posted by lillian771
Sounds like you guys are in the same boat as us!
We've been going back and forth between buying a house and buying a co-op for months now. FH thinks we'll be able to buy a house but I really don't think so. We decided a month ago to start putting the $ away that we'd have to pay toward a $2500 mortgage and we're not even close to meeting that goal for this month! All this makes me very nervous.
I feel like we'd be safer/more comfortable buying a co-op...but so many people keep telling us they aren't great investments.
I'm losing sleep over this stuff!!! Real life is so difficult...
Re: co-ops and condos, you have to rememberthat htere are maintenance fees whicdh will increase your monthly payments anyway. You think your mortgage will be $2500 per month? Wow!
Yes, we are aware of the maintenance fees but even w/ them our monthly payment would be about $1000 less in a co-op. Our mortgage payment on a house would be at least $2500/month. With not a ton of money to put down, and the high prices of houses in Suffolk County, we're in trouble!
dita531
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Re: Where are you living....POLL
We'll be living with his parents in FL for a couple of months then we will buy a house in FL.
CubanBride
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Re: Where are you living....POLL
Posted by lillian771 Yes, we are aware of the maintenance fees but even w/ them our monthly payment would be about $1000 less in a co-op. Our mortgage payment on a house would be at least $2500/month. With not a ton of money to put down, and the high prices of houses in Suffolk County, we're in trouble!
Ok, then my only suggestion would be to save up for 2 years so you can put a larger deposit. I know that houses in NY are expensive. It's getting to the point where people can't buy anything for less than $500K. It's sick!
A condo would be a better investment than a co-op. I think even buying one of those and then selling it down the line in 3-5 years would be a better option that a co-op. Maybe you should ask a financial analyst what they suggest. I'm just glad I don't have to go through this.
What are co-ops going for anyway these days out in Suffolk, let's say for a 2 BR 2BA.
nbird
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Re: Where are you living....POLL
I wish we knew.. I told fiance to start looking for refrigerator boxes....
Jmg11
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Re: Where are you living....POLL
Girls - where there is a will there is a way - TRUST ME!
Seek out some professional advice from a financial consultant - they can come up with a recipe for you to make you real estate dreams come true. You need to do a lot of research about what is right for you and what you can spend...don't buy without doing the research! You might find that you can afford more then you think.
jozieb0925
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Re: Where are you living....POLL
I am moving to NJ and we bought a condo..My FI is from NJ.
TwoBugs
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Re: Where are you living....POLL
Posted by Jmg11
Girls - where there is a will there is a way - TRUST ME!
Seek out some professional advice from a financial consultant - they can come up with a recipe for you to make you real estate dreams come true. You need to do a lot of research about what is right for you and what you can spend...don't buy without doing the research! You might find that you can afford more then you think.
Agreed!!
FH and I bought a house last month (btw, we make very little money and have a bunch of student loan debts), but our mortgage payment is LESS than the rent in our last two apartments.
You can do it!!
9.17.04bride
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Re: Where are you living....POLL
we bought a house last september before that we lived in an apt. together.
Ladybug63
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Re: Where are you living....POLL
FI and I live together in an apt. right now. We moved in after 3 months of dating so we've lived together about 3 years now.
We are currently in contract on our new home and hope to move in by Jan 1st.
