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Where should one look to buy a house in NYC- preferably Brooklyn or Manhattan, with a $100K down payment saved up and a $65K job? At least 1 bedroom, but not picky beyond that. Just want options!
Update: I saw there is a pinned post asking people to direct their questions about moving to that thread instead. I asked in there, but cannot delete this one. Mod, feel free to if needed. Thanks.
Last edited by Agua; 04-14-2018 at 09:43 PM..
Reason: To post update for Mod
Where should one look to buy a house in NYC- preferably Brooklyn or Manhattan, with a $100K down payment saved up and a $65K job? At least 1 bedroom, but not picky beyond that. Just want options!
Speak to a mortgage broker to see how much mortgage you can afford. It will be in the low $400k. Then ask a realtor to show you some options. Don't know if Manhattan is an option on that budget even for a one bedroom. Maybe Harlem. Brooklyn and Queens are definitely doable. Queens and brooklyn for a house if you have an aggressive realtor. I have seen houses in the Flatbush area as recently as last month in the $400k plus price range.
Where should one look to buy a house in NYC- preferably Brooklyn or Manhattan, with a $100K down payment saved up and a $65K job? At least 1 bedroom, but not picky beyond that. Just want options!
Update: I saw there is a pinned post asking people to direct their questions about moving to that thread instead. I asked in there, but cannot delete this one. Mod, feel free to if needed. Thanks.
Where should one look to buy a house in NYC- preferably Brooklyn or Manhattan, with a $100K down payment saved up and a $65K job? At least 1 bedroom, but not picky beyond that. Just want options!
Update: I saw there is a pinned post asking people to direct their questions about moving to that thread instead. I asked in there, but cannot delete this one. Mod, feel free to if needed. Thanks.
There are still places in Brooklyn you can buy a one bedroom for under 250K. Sheepshead Bay/Marine Park area. MP doesn't have a train though.
There are still places in Brooklyn you can buy a one bedroom for under 250K. Sheepshead Bay/Marine Park area. MP doesn't have a train though.
Sheepshead Bay is very safe, affordable by NYC standards, and not far from the beach (if you're interested in that), but it's very far from Manhattan in terms of commuting. It's also mostly Russian/former Soviet, so if you are not of that culture, you may not fit in or feel comfortable.
Speak to a mortgage broker to see how much mortgage you can afford. It will be in the low $400k. Then ask a realtor to show you some options. Don't know if Manhattan is an option on that budget even for a one bedroom. Maybe Harlem. Brooklyn and Queens are definitely doable. Queens and brooklyn for a house if you have an aggressive realtor. I have seen houses in the Flatbush area as recently as last month in the $400k plus price range.
You can buy a studio in Manhattan for 400K. Keep in mind monthly maintenance costs in Manhattan tend to be pretty high.
You may be able to buy a 1 bedroom in different areas of Harlem for less than 400K.
In the hip areas of Brooklyn (Park Slope, northern Brooklyn, etc.) 400K won't get you much further than Manhattan.
But move a few neighborhoods down (Kensington, Midwood, Flatbush) and you can certainly find a 1 bedroom for 400K or less.
You can buy a studio in Manhattan for 400K. Keep in mind monthly maintenance costs in Manhattan tend to be pretty high.
You may be able to buy a 1 bedroom in different areas of Harlem for less than 400K.
In the hip areas of Brooklyn (Park Slope, northern Brooklyn, etc.) 400K won't get you much further than Manhattan.
But move a few neighborhoods down (Kensington, Midwood, Flatbush) and you can certainly find a 1 bedroom for 400K or less.
I don't know how adults purchase a one bedroom much less a studio. What do you do with your guests? Where do you go to read a book? Where do you store your winter clothes? When you come out of the shower how awkward that your guest/partner is always right there!
Plus buying a studio drastically reduces your pool of buyers for resale.
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