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Nearly all of the couples in my neighborhood have to generate two incomes to survive. It is a daily struggle but thats the price we pay for living here. Next time you're on the LIRR, take a step back and look at all the poor, exhausted or sleeping faces. It really is quite sad. My friends thought Florida was the answer. Well they were half right. When they got there they found a big beautiful affordable house. But lost their jobs in a matter of months. Their headed back to work and rent in New York. Can someone Find me a place with a much lower cost of living and a good job market? I don't think so
Honestly I think research is key when moving to a new area. People get so tired of high taxes and quality of life on they lose all common sense. Cheap homes is not a sole reason to move. Their are PLENTY of places to live in this country and many have a lower cost of living, but if you don't research all the factors of a certain place (job market (IN YOUR ACTUAL FIELD) how do you expect to survive. I could say the job market in NC is great and the cost of living is very low, but if you are a orange grower, you may not do very well here. If you are in the health field thats another story. BTW you can lose your job in any area including NY, I know from experience. You also need to be smart about a move. We actually bought a home that was cheaper than what we sold in NY so we could have a very low morgage. If tough times hit (thank god it hasn't happened) we could afford to look for work and we wouldn't lose everything. We also made sure we saved for that rainy day.
It why I move to florida as after leaving the air force the prices on LI were just to sick so now I got a nice house in Tampa and a now a new girlfriend in NY
Although I know a lot of people do need both incomes, I see a lot of people who "have" to work because a lifestyle is built around it. I stopped working when my children were born and we had a 12 year old car in the driveway, and duct tape holding our freezer door closed. I had neighbors who drove bmw's, vacationed and dined out well and "had" to work. For them, they made their choices. I am very grateful I bought a home in 2001 so I now how nice equity and now financially in a different position, however back then it was rough. But a different spin on a tough topic, how many have to and how many make choices to.
THANK YOU !!!! I was hoping someone would bring this spin on this! I havent gotten a chance to read all the replies, but I agree with everything you said.
Many people feel that they "need" to both work. I'm sure MANY working moms could make it at home if they really wanted to.
but many don't want to give up the "finer things" (that they feel are such a top priority).
Ive heard so many moms complain about money, while they walk around in $300 jeans, leased cars that they can't truly "afford", and have more in debt than in savings...
Not only do both Husband and Wife need to work to live on Long Island (but any other part of the NYC / CT / NJ Tri State Metro area) but each must have the right job in order to get ahead. You have to be making in the six figures each just to afford a basic $600,000 home (which doesn't get you must in Nassau & in Suffolk west of Ronkonkoma).
Also, you know that here career is everything. People juge you by where you work, what you do, how long you have been with the company, but most importantly - How much money you make as well as the Car you drive & the clothes you wear. If god forbid you choose not to work, people think there is something wrong with you. If you are not in finance, accounting, or make six figures in construction or trades you are viewed as inferior.
This really isn't the place where you can raise kids on a low six figure salary, and I think one in the high five figures is out of the question even in Queens these days.
So true Nick. My husband and I are 39 & 44. We just got married four months ago. Neither of us owned a home when we met. Even though we both have college degrees, we just have a combined income of 95K. It is so true that people look down on you if you do not own a home or drive a nice car or wear expensive clothes. We both have 8 year old cars and are looked down on and my co-workers make comments that we don't own a home. We are waiting for my husband to get a job transfer to the Charlotte NC area. He will take his NY salary (it doesn't go far here, but it certainly will there). We can't wait to move. Even the apartments there are gorgeous. So, unless you are making 6 figures, it is very hard to live in LI. Good luck to all who can do it.
So true Nick. My husband and I are 39 & 44. We just got married four months ago. Neither of us owned a home when we met. Even though we both have college degrees, we just have a combined income of 95K. It is so true that people look down on you if you do not own a home or drive a nice car or wear expensive clothes. We both have 8 year old cars and are looked down on and my co-workers make comments that we don't own a home. We are waiting for my husband to get a job transfer to the Charlotte NC area. He will take his NY salary (it doesn't go far here, but it certainly will there). We can't wait to move. Even the apartments there are gorgeous. So, unless you are making 6 figures, it is very hard to live in LI. Good luck to all who can do it.
It sounds like a move to Charlotte might work well for you and your husband, I wish you well. My response is more geared toward Nick's comments. You can most certainly find a home under 600 (actually in the 400's and soon to be high 300's) in some of the areas Nick referenced; and in desireable areas. Thankfully, our housing market is experiencing a long overdue correction. Second, not everyone on the island was forced to buy a home between the years of 2001-early 2007. Many homeowners bought 2000 or earlier, not that long ago if you think about it, and paid in the 200's for a nice home in a nice area. It is all relative to our individual experiences. My wife and I paid low 200's for a home in 2000 with a combined 75k in income. Those that I have zero sympathy for are the homeowners who are crying poverty after a cheap money refinance who slapped granite countertops, a car, and a new inground pool with waterfall on their mortgage, and are now moaning a rate reset or the downspiral of their home values. That was poor decision-making on their part, not the fault of anybody else. That being said, LI is an expensive area, and moves to other regions are often the right decision for many seeking home buying opportunities, etc. I am just frustrated when posters generalize with exclamations that you can' buy anything in an entire metro region for less than 600. That is simply incorrect.
So true Nick. My husband and I are 39 & 44. We just got married four months ago. Neither of us owned a home when we met. Even though we both have college degrees, we just have a combined income of 95K. It is so true that people look down on you if you do not own a home or drive a nice car or wear expensive clothes. We both have 8 year old cars and are looked down on and my co-workers make comments that we don't own a home. We are waiting for my husband to get a job transfer to the Charlotte NC area. He will take his NY salary (it doesn't go far here, but it certainly will there). We can't wait to move. Even the apartments there are gorgeous. So, unless you are making 6 figures, it is very hard to live in LI. Good luck to all who can do it.
If you don't mind me asking, what do you both do that pays so low, yet requires a degree? Also, if your co-workers are really making these comments, you need to take it to your HR department. I have never experienced that at any place of employment, and it surely wouldn't be tolerated where I work.
If you don't mind me asking, what do you both do that pays so low, yet requires a degree? Also, if your co-workers are really making these comments, you need to take it to your HR department. I have never experienced that at any place of employment, and it surely wouldn't be tolerated where I work.
Thanks...I don't know anyone, literally, that would take crap to me if I didn't have designer jeans or drive a BMW. Who does that??? Really, need to look into finding new people to associate with. Sure it happens, but to imply it's the stadard or the norm I think is a bit off base.
Let me get this straight, though...
You make $8 per month but can't afford what? My friend and his wife make $160K and bought a $375K house in Levittown. Even if you put 10% down ($37,500), you mortgage won't be more than $2042.50...$350K, 30 yr, at 5.75%. Say taxes are $12K (high), that's $3K per month. While it's not NOTHING, it still leaves you with roughly $5K per month for food, insurance, cars, living, etc. Am I missing something? Now, if you want a 4000 sq. ft. home on an acre, brand new, ok then you can't afford LI.
My husband and I now make more, but when we first moved here 2 years ago, we made about $110k combined. We bought for $400k and made it work.
I just don't understand all these people who say "people make comments/look down on me/chastise me for not owning a house/buying $200 jeans/driving a Lexus".
I've never had this happen to me here, and if it did, I would SURELY speak up about it rather than take it.
My husband and I now make more, but when we first moved here 2 years ago, we made about $110k combined. We bought for $400k and made it work.
I just don't understand all these people who say "people make comments/look down on me/chastise me for not owning a house/buying $200 jeans/driving a Lexus".
I've never had this happen to me here, and if it did, I would SURELY speak up about it rather than take it.
Another great point...if all works out, hopefully you're income will increase and your mortgage (unless you have some ARM deal) will stay the same.
Can you imagine...
Garden City 2nd Grade Teacher: "Hey, are those Bugle Boy jeans you're wearing?"
2nd Grader: "Um, I don't know...I think so, ma'am."
Teach: "Freakin' loser..."
Boy: sniff
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than what we sold in NY so we could have a very low morgage. If tough times hit (thank god it hasn't happened) we could afford to look for work and we wouldn't lose everything. We also made sure we saved for that rainy day.
It all depends
