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Do not let LIers tell you that just because they are doing good, you can also do good. Few here have as much experience as frogs in a well but will act as if they know all and will laugh/scorn at you for even thinking of moving.
I would not advice you to get married just to improve your financial situation, get married when you are ready. I strongly suggest you to check out places outside the island, you will be surprised.
if you can't buy a home on LI then you have to rent, for less. No shame in that...don't let anyone fool you...it's the COL that matters the most...that means HOUSING
you can move to Binghamton, Syracuse, Buffalo, Rochester, ect...on your current salary and do very well.
Of course all of those areas suck and what are you going to do and blah blah blah...that is just the idiots trying to say that your propinquity to and the trappings of wealth reflect who you are.
they're wrong, and LI is overpriced, overcrowded and waaay more full of dip****s than most other areas, (yes, this is an anecdotal remark and I have no evidence other than my own experience to back it up).
One of the truly ****ty things about living in metro NY is that because people are surrounded by the trappings of wealth you have an inordinate amount of "hustlers" and what would normally be middle class people attempting to game the system.
"everyone else does it, why can't I"?? it is the marginalization of morality and you don't want to be a part of it.
and LOL at getting married here...if your spouse earns a decent living then the AMT kicks in and you get ****ed again...jesus that is stupid
If you are single and making $45k, it is going to take a long time to get into a house. You'll have to start "small" with a starter home. If you are married and have a second income, the possibilities are better. I was personally lucky to get a good job out of college and my salary increased pretty quickly, plus my wife was doing fairly well too. So we were able to get a decent house - not my dream house by any means, but it's not too shabby either.
yeah pretty much - avg joes like us need dual income, but it's possible. Need to have planned ahead and not save just when you figure you need a house.
It's all well and good until you decide to start a family and then faced with putting your baby into a crib at daycare... The idea of a stranger spending entire days "caring" for my infant almost made me physically ill. There was no way I wanted that for 8+ hours a day over them being with their mom.
If you're OK with that (and the fact that the 2nd income is nearly gone to pay for the daycare), then I see getting into a housing situation requiring 2 incomes. Otherwise, think long and hard about buying a home that stretches a dual income before starting a family.
Hey I love Long Island. I think it is great. Just the other day I took the LIRR from Patchogue to Rockville Center and seeing all the different towns pass will looking out the window was very relaxing. Completely the opposite of driving on the LIE and running the risk of being a crash test dummy.
It does amaze me how much the cost of real estate as gone up however. On a modest home average property taxes in Suffolk County are approximately $6,000/yr or $500/month. Now let's say for a $300,000 starter home with 20 % down ($60,000) the P & I alone (on a 4.71% 30-yr fixed) would be around $1,200/month. Your total = $1,700.
For a $45,000/yr salary, take home pay is approximately $2,700 leaving the individual with $1,000 for utilities, food clothing, etc.
2 incomes seem to be the only way to go in this situation. Each person would need to save up $30,000 a piece.
Most Long Island homes at the 300 price are in definite need of some work before one can even move in.
Think of all the people you encounter on a daily basis (grocery store, gas station, movie theater, etc.). None of which makes said amount.
Sad to think many people living on Long Island will struggle their whole life just to be in a certain location. For $1,700 you could have TWO nice apartments. It's sad to think that after finally paying off your Long Island home mortgage after 30 years that you will still be paying rent until you sell the home or die. Rent meaning the high property taxes we are subjected to. $6000 in 2010, maybe $10,000 in 2040 (being optimistic).
I graduated college in 1988 and knew then and there I couldn't afford Long Island, so I stayed where I was. (Not that I felt Long Island had anything fun to offer a 21-year-old, but still.)
Not that the OP necessarily feels this way, but just in general, I really don't understand why so many people on this subforum feel like they are entitled to own a home here just because they were born here. Ummm, no? First, no one is entitled to home ownership. It's something you work for like everything else in this world. And second, no one is entitled to home ownership in a place they can't afford to live.
It's a great, big, beautiful country. There are plenty of places with plenty of opportunities.
Not that the OP necessarily feels this way, but just in general, I really don't understand why so many people on this subforum feel like they are entitled to own a home here just because they were born here. Ummm, no? First, no one is entitled to home ownership. It's something you work for like everything else in this world. And second, no one is entitled to home ownership in a place they can't afford to live.
It's a great, big, beautiful country. There are plenty of places with plenty of opportunities.
On the money!
The only problem the Island had was there weren't enough apartments to rent. Everywhere else I've been has had nice apartments in good locations. I do think that's where young Islander's get into their head that they must own a house and renting is for chumps.
I graduated college in 1988 and knew then and there I couldn't afford Long Island, so I stayed where I was. (Not that I felt Long Island had anything fun to offer a 21-year-old, but still.)
Not that the OP necessarily feels this way, but just in general,I really don't understand why so many people on this subforum feel like they are entitled to own a home here just because they were born here. Ummm, no? First, no one is entitled to home ownership. It's something you work for like everything else in this world. And second, no one is entitled to home ownership in a place they can't afford to live.
It's a great, big, beautiful country. There are plenty of places with plenty of opportunities.
Amen.
Not everyone can make it here...and thats ok too.
There is no time machine folks.We wont be waking up tomorrow at 1995 prices despite the Nostradami desperately wishing it so on these boards.It is what it is.
If you dont have the coin for LI maybe try NC but please stop whining.
Its all about location and when you live in the suburbs of the greatest city in the world ...it comes at a premium.
So buy in, suck it up, accept it or move the F on.
Have a nice day
Crooks
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I told him they hit the lottery!!
