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Unread 03-07-2011, 09:56 PM
 
15 posts, read 12,298 times
Reputation: 21
Default Moving back to the Island...

Hello all,

My wife and I are moving back in June from Tampa Bay. We do not have children. We do not want children ! We want to move too the north shore. I grew up in E. Northport and would love to go there. But anywhere from Huntington to Port Jeff will be fine.
We are going to rent a house for the first year then buy. My question ~ How much does a family of two need to make. We have an income of around 100k.

Your thoughts please...
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Unread 03-07-2011, 10:20 PM
gag
 
Location: Lindy 1/2, Chicago 1/2
656 posts, read 567,071 times
Reputation: 330
Quote:
Originally Posted by AMBrodie View Post
Hello all,

My wife and I are moving back in June from Tampa Bay. We do not have children. We do not want children ! We want to move too the north shore. I grew up in E. Northport and would love to go there. But anywhere from Huntington to Port Jeff will be fine.
We are going to rent a house for the first year then buy. My question ~ How much does a family of two need to make. We have an income of around 100k.

Your thoughts please...
If you have jobs lined up and you're making 100K, you should do fine renting a house. Huntington sounds like it may work for you.
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Unread 03-08-2011, 07:41 AM
 
924 posts, read 991,063 times
Reputation: 525
Quote:
Originally Posted by AMBrodie View Post
Hello all,

My wife and I are moving back in June from Tampa Bay. We do not have children. We do not want children ! We want to move too the north shore. I grew up in E. Northport and would love to go there. But anywhere from Huntington to Port Jeff will be fine.
We are going to rent a house for the first year then buy. My question ~ How much does a family of two need to make. We have an income of around 100k.

Your thoughts please...
You'll be fine renting, but you'll have a tough time affording a mortgage in that area at 100k for a combined income.
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Unread 03-08-2011, 08:19 AM
 
Location: Northwestern Michigan
932 posts, read 1,485,741 times
Reputation: 379
Not if they can put down $150k or so.

Quote:
Originally Posted by NYEconomist View Post
You'll be fine renting, but you'll have a tough time affording a mortgage in that area at 100k for a combined income.
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Unread 03-08-2011, 08:31 AM
 
Location: Tri-State Area
2,915 posts, read 2,631,909 times
Reputation: 1731
That's insane, you need to make more than 100K to live on the island. I know things are costly, but don't you think 100K or 65K after tax would be enough to "live" on the island? The OP isn't talking about keeping up with the snobs.....just living.
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Unread 03-08-2011, 08:58 AM
 
939 posts, read 1,134,053 times
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in east northport with $100k and no kids you should be fine. i do it with 2 kids.

this is all provided you're looking for a reasonable house and not 3/4 mill mcmansion


and if you change your mind on the kids, i'll drop mine off


edit: i'm assuming you'll have enough for a good down payment
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Unread 03-08-2011, 09:15 AM
 
Location: Huntington, NY
7,304 posts, read 8,981,915 times
Reputation: 3105
Different people have different life styles = different $$ income required.

However, not to be overlooked in this current economic/financial environment is what the lender thinks is sufficient income!

JMHO

sending you a DM
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Unread 03-08-2011, 09:24 AM
 
Location: Sound Beach
2,153 posts, read 4,093,096 times
Reputation: 818
We have 2 kids (including 50K in adoption expenses), pay a mortgage, and are doing fine on 100K a year. You can do just fine on that $$ without kids.
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Unread 03-08-2011, 10:36 AM
 
15 posts, read 12,298 times
Reputation: 21
Thanks very much for the replies.

We don't care for the snobs very much.

When we are ready to buy our down payment will be around 75 - 85 k. We are looking for a normal house. 3 br 2 bath. I'm going to finish the basement if it is not already completed.

There will be added expenses I know for sure. I want to have my Ranger season tickets. Or even a ten game plan. My wife loves to ski. We enjoy the city. We don't eat out very much. Cooking is one of my favorite hobbies. So we save money there.

I left the Island in 96' and I have not had that feeling of being home. I feel it as soon as i get off the plane to visit. So many people talk about how bad New York is. I am jumping out of my skin to be back.

ENFD240 ~ Thank you very much for the wonderful offer of your children. I will think about it... See it just doesn't work for me...
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Unread 03-08-2011, 10:52 AM
 
Location: Sound Beach
2,153 posts, read 4,093,096 times
Reputation: 818
Quote:
Originally Posted by AMBrodie View Post
I want to have my Ranger season tickets.
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