Paying $1900 for a 1BR in upper Manhattan, wouldn’t a mortgage make more sense? (New York: apartment, rental)
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What’s average mortgage payment in NYC let’s says queens or Brooklyn?
I’m considering getting a house in queens...wouldn’t a mortgage make more sense vs paying $1900 rent? Let’s say a mortgage for $1200 + tax and utilities would amount to as much as my rent is....plus I want to own a car and not have to worry about parking so much....or better yet what about a condo in NYC isn’t that a mortgage also?
What’s average mortgage payment in NYC let’s says queens or Brooklyn?
I’m considering getting a house in queens...wouldn’t a mortgage make more sense vs paying $1900 rent? Let’s say a mortgage for $1200 + tax and utilities would amount to as much as my rent is....plus I want to own a car and not have to worry about parking so much....or better yet what about a condo in NYC isn’t that a mortgage also?
It's a lot more than that. New York State taxes are through the roof.
Your annual property tax bill is calculated by estimating the property's market value then by multiplying it by the level of assessment, which is 6% (Tax Class 1) or 45% (all other classes).
Car payments, tickets and maintenance will have the potential to clean out your bank account.
Hard no. If you were renting for much more, then yes. Also different lifestyles. Can't replicate Washington Heights lifestyle with say Bensonhurst, and each is priced 'appropriately'. However, you said you want a car so maybe Manhattan living isn't your ideal future lifestyle.
However, your last question leads me to believe you don't know much about buying property. Generally, assume 20% downpayment, so a $300k property will have a $60k downpayment. Can you deal with that opportunity cost and not putting the money into the market or some other financial vehicle? Also keep in mind that maintenance + mortgage can easily be more per month than what you're currently paying nevermind the transaction fees: https://streeteasy.com/building/116-pinehurst-avenue-new_york/r32
Yeah. I've wanted to live in it since 2011 but the prices shot up faster than my income
I've always wondered... Is that entrance private? When I walk on Pinehurst, there is a set of staircases you can use to get to Cabrini which most people use, but before that, there's what looks like an area for residents in that building to park. I always wondered what was there. It looks like it's almost a private little block. This is the area I'm referring to. Usually under scaffolding, but not in the Google shot:
$1900 mortgage? Maybe for a 1 bedroom co-op in a run down place with $1000+ monthly maintenance fees.
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