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First off, let me say that I love Long Island. I grew up in the city and my parents had/have a summer house in Sound Beach that we spent time in. But things were a lot different 25 years ago and my dad was able to purchase on his sole breadwinner salary, and my mom was a stay at home mom. They had absolutely zero financial strain with this setup. Granted, it's a little shack right by the beach but it's our little shack, lol. It's adorable.
I've become increasingly over NYC. It's dirty, messy, people are angry all the time, and I just want to breathe fresh air. I know Long Island is not necessarily rural but to me some parts of LI have a quieter, more gentle lifestyle. In Sound Beach we sometimes leave our door open and family comes and goes (my aunt has a house a block away). We know our neighbors. We ride bikes on the "country" roads together, etc. We go to the beach and sit and talk and relax. We go fishing at Cedar Beach. We go to McNulty's for ice cream, looking at this historic homes on the way, or we go to Port Jeff to hang out and eat dinner out. I went to Stony Brook for college. It's just... nice.
But is LI worth it? Home prices today are outrageous. And seeing as my SO and I will never have children, does it make sense to purchase? I know a lot of the taxes go to many excellent school systems. My ideal location would be as further out on the island as possible (and that brings me to another point... Montauk. HOLY **** is it expensive! My uncle had a house and a bar he owned in Montauk when it was literally like a fishing village and you couldn't pay people to live there.); the more rural and pastoral the better. I am also the breadwinner. I make a really good living and my SO is a moderate income earner. But we're just absolutely gobsmacked at the prices. Like, unless you're a millionaire how do you afford anything? I literally get chills when I stalk this house online lol, but how does one afford an almost $4,000 a month mortgage?!
How do people do it? Thankfully we have very affordable housing in NYC so we could put almost all of our money towards a house but then is it even worth it? Wouldn't the house own us? Ideally we'd be out there every weekend and all summer.
Sounding a bit trolling honestly. You make a lot of money yet qualify for affordable housing in NYC.
Evidently you don't earn enough to have a second home. Stay in NYC and do a LI vacation each summer.
I’ve been hearing that phase for decades! From my grandparents to my parents. Well, to keep it short & simple, people are doing it. Again, (like I always post) I never saw so much traffic in my life, more apartment complexes ($2500-$3500+++++ per month) more condos, ever piece of land is now a development. Housing prices keep increasing.
So, people are doing it. For DECADES now. And don’t believe those who say everyone is leaving Long Island. Again, read above.
Unless you are making a ton of money and can retire early - without kids no it’s not worth it. But it’s individual for everyone. Only you can decide. Not anyone else. My bff has no kids and stayed in NY and made a ton of money. Will retire this summer at 53 even though she really likes her job Corona put her over the edge of going into the city. Six figure pension (not a teacher) who needs the aggravation. Don’t see her leaving LI soon but she paid $175k for her house and they will own another home elsewhere.
She didn’t say she lives in affordable housing. She said her housing is affordable.
First off, let me say that I love Long Island. I grew up in the city and my parents had/have a summer house in Sound Beach that we spent time in. But things were a lot different 25 years ago and my dad was able to purchase on his sole breadwinner salary, and my mom was a stay at home mom. They had absolutely zero financial strain with this setup. Granted, it's a little shack right by the beach but it's our little shack, lol. It's adorable.
I've become increasingly over NYC. It's dirty, messy, people are angry all the time, and I just want to breathe fresh air. I know Long Island is not necessarily rural but to me some parts of LI have a quieter, more gentle lifestyle. In Sound Beach we sometimes leave our door open and family comes and goes (my aunt has a house a block away). We know our neighbors. We ride bikes on the "country" roads together, etc. We go to the beach and sit and talk and relax. We go fishing at Cedar Beach. We go to McNulty's for ice cream, looking at this historic homes on the way, or we go to Port Jeff to hang out and eat dinner out. I went to Stony Brook for college. It's just... nice.
But is LI worth it? Home prices today are outrageous. And seeing as my SO and I will never have children, does it make sense to purchase? I know a lot of the taxes go to many excellent school systems. My ideal location would be as further out on the island as possible (and that brings me to another point... Montauk. HOLY **** is it expensive! My uncle had a house and a bar he owned in Montauk when it was literally like a fishing village and you couldn't pay people to live there.); the more rural and pastoral the better. I am also the breadwinner. I make a really good living and my SO is a moderate income earner. But we're just absolutely gobsmacked at the prices. Like, unless you're a millionaire how do you afford anything? I literally get chills when I stalk this house online lol, but how does one afford an almost $4,000 a month mortgage?!
How do people do it? Thankfully we have very affordable housing in NYC so we could put almost all of our money towards a house but then is it even worth it? Wouldn't the house own us? Ideally we'd be out there every weekend and all summer.
LI is worth it to some and not worth it to others. Everybody has a different definition of what makes it worth it to them (theres actually another thread on this). We can’t really answer that for you. What I can say is that you definitely do not have to be a millionaire on Long Island. Most people are living here and they aren’t even close to that. You have to budget correctly and live within your means but it isn’t impossible - like I said many people do it.
A large reason is family & ties. Family is worth staying for always, to me, no matter how expensive things get.
This is not a LI thing, the ENTIRE USA GOT VERY EXPENSIVE. Down in FL in 2010 in tampa and Clearwater a decent apt in a safe area could be had for $700 now $1400 for the same place. Townhomes on the outskirts of boca where 190k now they are 450k. The 175k condo I owned is now worth 300k it has a 4k tax bill and $500 a month hoa. You can go 30 miles outside of Tampa, it will you 1.5 hours each day to drive to where the jobs are. A 2k sq ft house can be had for 300k w/5k tax bill. Yes these prices are cheaper than LI, salaries are way less also.
This is not a LI thing, the ENTIRE USA GOT VERY EXPENSIVE. Down in FL in 2010 in tampa and Clearwater a decent apt in a safe area could be had for $700 now $1400 for the same place. Townhomes on the outskirts of boca where 190k now they are 450k. The 175k condo I owned is now worth 300k it has a 4k tax bill and $500 a month hoa. You can go 30 miles outside of Tampa, it will you 1.5 hours each day to drive to where the jobs are. A 2k sq ft house can be had for 300k w/5k tax bill. Yes these prices are cheaper than LI, salaries are way less also.
But I thought there was no inflation in that pre-Covid "great" economy?!
If salaries are "way less" why was I offered more to work in Sunrise, FL than Melville NY for essentially the same job?! Because the LI employer KNOWS I'd move to Florida before I'll commute to Manhattan. LI pays crap and knows they have land locked indentured servants living 2 paychecks to paycheck that will work for $25k below market rather than commute to NYC. Even more so after covid. Meanwhile, the civil servants who played the game can make $25k above market with better benefits. #LIstylewinning
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I grew up in the city and my parents had/have a summer house in Sound Beach that we spent time in. But things were a lot different 25 years ago and my dad was able to purchase on his sole breadwinner salary, and my mom was a stay at home mom. They had absolutely zero financial strain with this setup. Granted, it's a little shack right by the beach but it's our little shack, lol. It's adorable.
