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Old 04-24-2014, 10:00 PM
 
Location: NYC
11,684 posts, read 7,544,335 times
Reputation: 12643

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Quote:
Originally Posted by samanthayakobchuk View Post
False. In some areas, this may be true. But in some other ones (commutable ones and decently close) the property taxes are less than half of that.
The keyword is "some" regardless how much he has to pay anyone that thinks they can work in NYC from another area and stay in that job will have to compete. So far in my 15+ yrs working in NYC, I have seen quite a few transplants from other area take on a high paying job only to get shuffled or chopped after 1-2yrs on the job. NYC is not someplace you can work at your own pace, someone is gonna backstab to get your job.

As for property taxes, I've checked my area in Union and some of my neighbors pay well above $17k for a home valued around $450k. So $25k is quite realistic for a $750k home.
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Old 04-25-2014, 05:54 AM
 
Location: Summit
400 posts, read 560,532 times
Reputation: 271
Quote:
Originally Posted by vision33r View Post
The keyword is "some" regardless how much he has to pay anyone that thinks they can work in NYC from another area and stay in that job will have to compete. So far in my 15+ yrs working in NYC, I have seen quite a few transplants from other area take on a high paying job only to get shuffled or chopped after 1-2yrs on the job. NYC is not someplace you can work at your own pace, someone is gonna backstab to get your job.

As for property taxes, I've checked my area in Union and some of my neighbors pay well above $17k for a home valued around $450k. So $25k is quite realistic for a $750k home.
You're right. The keyword is "some."

Honestly, I get that transplants to NYC may have it tough, but I don't think scaring OP with the anecdote of the guy who only last four months is the way to go. And I'd especially have to think twice about that comment since you made the comment about the taxes.
True, taxes in Union are obnoxious. But the highest I've seen for a $750k home in any "commutable" area with at least decent schools (some had great ones, that I checked) was $23k. That was either in Maplewood or Montclair. Again, I just don't think it makes sense to scare OP into thinking that he will be spending a minimum of $25k in property taxes each year.

Perhaps you're intentions weren't wrong, but I just felt there was a little too much negative exaggeration going on and it irked me because it's usually stuff like that that stays with a person subconsciously instead of less exaggerated advice.
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Old 04-25-2014, 07:55 AM
 
1,680 posts, read 1,994,693 times
Reputation: 1113
Quote:
Originally Posted by vision33r View Post
The keyword is "some" regardless how much he has to pay anyone that thinks they can work in NYC from another area and stay in that job will have to compete. So far in my 15+ yrs working in NYC, I have seen quite a few transplants from other area take on a high paying job only to get shuffled or chopped after 1-2yrs on the job. NYC is not someplace you can work at your own pace, someone is gonna backstab to get your job.

As for property taxes, I've checked my area in Union and some of my neighbors pay well above $17k for a home valued around $450k. So $25k is quite realistic for a $750k home.
NYC or NJ? even in NJ $25k is not realistic for $750k, more like $16k-18k. NYC much lower, in queens for example, it's more like $5k.
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Old 04-25-2014, 07:58 AM
 
1,680 posts, read 1,994,693 times
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$200k annually to buy $750k is affordable, but I would rent for a year to see if you like to area before putting in $750k to buy a house only to find out it's not what you think.
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Old 04-25-2014, 08:52 AM
 
Location: Summit
400 posts, read 560,532 times
Reputation: 271
Quote:
Originally Posted by samanthayakobchuk View Post
you're intentions
I meant "your." I'm so embarassed...
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Old 04-25-2014, 08:54 AM
 
Location: Randolph, NJ
4,081 posts, read 6,985,727 times
Reputation: 3225
Quote:
Originally Posted by samanthayakobchuk View Post
I meant "your." I'm so embarassed...

Your excused!
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Old 04-25-2014, 06:51 PM
 
9,268 posts, read 13,686,087 times
Reputation: 9302
Quote:
Originally Posted by bbnetworking View Post
NYC or NJ? even in NJ $25k is not realistic for $750k, more like $16k-18k. NYC much lower, in queens for example, it's more like $5k.
$25K on $750K is about what you'd pay in West Orange... but we've got the highest taxes around, and only a few houses up at that price anyway. There are plenty of houses meeting the OPs requirements which would be at least $100K less and in a lower-tax town (perhaps only slightly lower in the case of Maplewood and Montclair)

As for "backstabbing to get your job", I suppose that depends on the industry. If you're aiming to be the next Jordan Belfort or Carl Icahn or Bernie Madoff, sure. Other industries are a bit more mellow :-)
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