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Huntington, in Western Suffolk, around $400K there are now decent buys in Greenlawn. Greenlawn is a nice family oriented community, safe, and Huntington has a good nightlife for the singles. Take NSP or LIE to Queens and easy access to other parts of LI. Also, decent trains to NYC when you want. JM2C
Excellent suggestion - just a matter of affordability with regard to monthly budget (RE taxes )
My company is picking up the tab for all costs associated with the relocation. I am getting an adjustment for cost of living difference between RI and LI. They are paying 100% of the difference for the first year then it goes down to 80% the following year and so forth. The relocation package is very generous and more so if I buy. I do not get an adjustment if I rent.
I currently own a home now so I know about PMI and utility costs. The $2,000 a month would just be for mortgage payment, I can handle the cost of the other fee's associated with the home.
My credit score is well above the 740.
I will be in corporate housing for 60 days to give me time to find something that fits my needs. I can rent for up to one year but then I lose all the benefits of the relocation package if I do not buy.
I currently own a home now so I know about PMI and utility costs. The $2,000 a month would just be for mortgage payment, I can handle the cost of the other fee's associated with the home.
My credit score is well above the 740.
Great - your credit score will save you $$$ on your mortgage!
Still, a $300K mortgage at 5% is $1,530/mo, plus interest and HO insurance.
Mortgage = PITI = Principal, Interest, Taxes, Insurance
Assume low, $100/mo for HO insurance, leaves $370/mo for RE taxes--not on Long Island Even with a slightly lower interest rate you'd unfortunately still fall short because of RE taxes - possible exception E. Northport... or a very very "lucky" find
Quote:
Originally Posted by kris835
I will be in corporate housing for 60 days to give me time to find something that fits my needs. I can rent for up to one year but then I lose all the benefits of the relocation package if I do not buy.
Would be a shame to lose the benefits.
BTW, locally, the average conventional mortgage closing takes about three months. Occasionally, with the right "connections", it can take less...
Since you're covering the whole Island I'd think you're ok to look a little further east. Property taxes are out of control in Nassau, you might fare better in Suffolk County. I think Greenlawn is a good suggestion, and you might find a smaller house (and hence smaller taxes) around that area.
I'll plug my own town - Hauppauge. We have nice neighborhoods and homes are plentiful at the low $400's and property taxes are less than the surrounding areas by a significant amount thanks to the industrial park. It is also centrally located, convenient access to the LIE, NSP, and Sagtikos parkways.
If you have to cover suffolk, nassau and queens, then Huntington/Centerport/Greenlawn area is where I would suggest for you. But...you have to do your research, ask on here bc there are parts you need to be aware to avoid.
But downtown Huntington village area has great nightlife, restaurants, bookstore. You are close to the water and it's just a gorgeous area (all the areas I mentioned to you).
Check out Glen Cove. Not too far out on the Island, Good nearby club and restaurants - from Oyster bay and Locust Valley on the east to Sea Cliff, Glen Kead and Greenvale on the west.
Rents and homesales are not too expensive by Long Island standards.
Nice beaches and parks.
All great suggestions, thank you! Elke, I am getting a cost of living adjustment from my company for 5 years and therefore I will have plenty of money for taxes. I appreciate all the helpful advice.
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Even with a slightly lower interest rate you'd unfortunately still fall short because of RE taxes - possible exception E. Northport... or a very very "lucky" find 
