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Old 01-30-2011, 01:50 PM
 
257 posts, read 646,426 times
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We're in the process of trying to figure out the affordability of moving to the Syracuse suburbs, and maintaining out current lifestyle. If some people can help me fill in some of the blanks for this monthly budget that would be helpful. We are planning to move to a home with approx. 1200 square feet, with my husband working from home, and me staying home (possibly working part time if necessary) with our 2 kids (now ages 7 and 1). Assume a take home pay of $3000 a month for now, but maybe more if I work part time.

Mortgage (including taxes and homeowners):
Student Loan 1: $170
Student Loan 2: $55
Heat:
Electric:
Gas:
Water:
Grocery:
TV/Phone/Internet: *we MUST have high speed internet for my husbands job*
Savings: $200
College Fund: $300 (ideally more, but this is what I do now)
401k: $300
Auto Insurance (1 car, no lien):

I've also included our current budget, so you get an idea of our current financial situation. Keep in mind that his situation reflects our current 2 income situation.

Mortgage: $3100
Student Loan 1: $170
Student Loan 2: $55
Heat (Oil): $179 (budget plan)
Electric: $189 (budget plan)
Gas: $260
Water: $15
Grocery: $700-800 includes all food, cleaning supplies, shampoos and diapers
TV/Phone/Internet: $165
Savings: $200
College Fund: $300
403b (currently from my job, but taken out of my paycheck): $400
Child Care: $500
Car Payment (not necessary if I'm not working full time): $220
Auto Insurance (both cars): $179

Total non-recreational spending: $6317 or 83% of income.
Our current take home pay is $7600 a month.
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Old 01-30-2011, 03:43 PM
 
2,440 posts, read 4,975,523 times
Reputation: 1973
Mortgage (including taxes and homeowners): $1000 (for your cap of $125K)
Student Loan 1: $170
Student Loan 2: $55
Heat/Electric/Gas: (National Grid runs all of those, except in a few select areas. Heat usually IS gas.) $180/mo. on average. With energy-efficient light bulbs, that's now closer to $150/month on average.
Water: $40-$60/quarter
Grocery: $500 (At Aldi's, I can generously fill a cart for $75/week.)
TV/Phone/Internet: $99.95 for the Time Warner triple play- home phone, Road Runner and a few hundred channels.
Savings: $200
College Fund: $300 (ideally more, but this is what I do now)
401k: $300
Auto Insurance (1 car, no lien): It depends on your company... call them and ask what the rate would be in the zip code you're aiming for. Ours is $255/6 months.
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Old 01-30-2011, 06:07 PM
 
Location: SENIOR MEMBER
655 posts, read 2,045,525 times
Reputation: 910
Default Monthly Budget

Quote:
Originally Posted by ladibug1026 View Post
we're in the process of trying to figure out the affordability of moving to the syracuse suburbs, and maintaining our current lifestyle. If some people can help me fill in some of the blanks for this monthly budget that would be helpful. My husband working from home, and me staying home (possibly working part time if necessary) with our 2 kids (now ages 7 and 1).
++++++++++++++++++++++++++++++++++++++++++++++

Mortgage (including taxes and homeowners): >>>depends on purchase price of your home here. See Figures Below.
Student loan 1: $170
student loan 2: $55
heat: >>>your heat here will be a gas furnace. See gas below.
Electric: >>>$200--$250 per month should be plenty or too much. I don't have budget plan. Can't tell you. Sorry.
Gas for heat & hot water: >>>$200--$250 per month should be plenty or too much. I don't have budget plan. Sorry.
Water: >>>i pay $36 every 3 months for myself & 2 dogs.
Grocery: >>>$700--$800 ($600 would be the least) should do it especially if you buy all your canned goods at our aldi's grocery (aldi's has their own brand low-price items-10% to 25% off other stores prices), buy some items at walmart, and buy fresh vegetables/fruit-other items at wegman's grocery.
Tv/phone/internet: *we must have high speed internet for my husbands job* >>>They charge you $99.99/month for FIRST YEAR, then increase price starting the second year. One family friend told me he pays $150 a month for his family-all 3; a second family friend told me he pays $200 a month for his family-all 3 services in one bill. Depending where you buy a home here, you may have 2 companies who can provide you service--time-warner/road runner and verizon fios. My neighborhood offers both companies--but that's not the case in all suburbs.
Savings: $200
college fund: $300 (ideally more, but this is what i do now)
401k: $300
auto insurance (1 car, no lien): >>>my nice suv = $1000 a year. If you are keeping your same auto insurance company as you have now, they can tell you right now what your auto insurance would cost here. Don't tell them syracuse city -- tell them liverpool 13088 or 13090; or cicero 13039 -- that will be more accurate.
++++++++++++++++++++++++++++++++++++++++++++++

I've also included our current budget, so you get an idea of our current financial situation. Keep in mind that his situation reflects our current 2 income situation.

Mortgage: $3100
student loan 1: $170
student loan 2: $55
heat (oil): $179 (budget plan)
electric: $189 (budget plan)
gas: $260
water: $15
grocery: $700-800 includes all food, cleaning supplies, shampoos and diapers
tv/phone/internet: $165
savings: $200
college fund: $300
403b (currently from my job, but taken out of my paycheck): $400
child care: $500
car payment (not necessary if i'm not working full time): $220
auto insurance (both cars): $179

total non-recreational spending: $6317 or 83% of income.
Our current take home pay is $7600 a month.
>>>>some of my answers are above in your original post<<<<

For your home buying price range budget, you will find the most affordable homes in Liverpool, Clay, Cicero, North Syracuse, Salina, Baldwinsville, Lysander, Van Buren, Camillus, & Chittenango/Sullivan.

Mortgage==30 year fixed interest rate of 5.5%==

Home
Purchase price......$100,000........$110,000........$125,00 0........$150,000
Down Pymt..............10,000...........11,000......... ..12,500...........15,000
Mortgage Amount......90,000...........99,000.........112,50 0..........135,000
Closing Costs..............3,000............3,300......... ...3,750.............4,500
Cash Needed.............13,000..........14,300......... ..16,250...........19,500
Household Income
(before taxes)
To Loan Qualify..........31,025..........38,855........... 45,250...........52,660

Monthly==

Mortgage Pymt.............$551.............$562............ .$639..............767
Insurance.......................33................ 37.................42...............50
Taxes...........................250..............3 08...............375...............412

Total ........................... 834..............907.............1055............. 1229

I hope I've helped you.
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Old 01-30-2011, 06:31 PM
 
2,440 posts, read 4,975,523 times
Reputation: 1973
Mortgage rates are actually about a percent lower. The required income amounts will vary by financial institution, not to mention that the type of loan hasn't been mentioned (nor should it be.) A 10% down payment would result in a PMI or secondary mortgage payment, which isn't included now.

I think that sort of thing is best left to those wonderful online calculators. There are too many variables.
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Old 01-31-2011, 01:52 PM
 
Location: SENIOR MEMBER
655 posts, read 2,045,525 times
Reputation: 910
Default Some Below $110,000

Hello Ladibug1026,

Here are a few more homes to review, some are below $110,000 so they may fit your budget.

CICERO 13039>>>

http://www.syr.interealty.com/propse...43044&AgentID=
http://www.syr.interealty.com/propse...45565&AgentID=
http://www.syr.interealty.com/propse...44593&AgentID=
http://www.syr.interealty.com/propse...44014&AgentID=
http://www.syr.interealty.com/propse...46969&AgentID=

BALDWINSVILLE 13027>>>

http://www.syr.interealty.com/propse...38601&AgentID=

LIVERPOOL 13088>>>

http://www.syr.interealty.com/propse...45958&AgentID=
http://www.syr.interealty.com/propse...46418&AgentID=
http://www.syr.interealty.com/propse...43569&AgentID=

LIVERPOOL 13090>>>

http://www.syr.interealty.com/propse...36531&AgentID=
http://www.syr.interealty.com/propse...44635&AgentID=
http://www.syr.interealty.com/propse...46712&AgentID=
http://www.syr.interealty.com/propse...45893&AgentID=
http://www.syr.interealty.com/propse...46426&AgentID=
http://www.syr.interealty.com/propse...45714&AgentID=

Click to "GET MAP" www.mapblast.com/

OFFER THE SELLER $5000 LESS THAN ASKING PRICE AND TRY TO GET A BETTER DEAL.

Best of luck to you.
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Old 01-31-2011, 05:04 PM
 
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Fayetteville. Many nice houses in the center of the village within walking distance of parks, restaurants, the library, schools, etc. More charming than Cicero for sure.
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Old 02-01-2011, 04:21 AM
 
Location: SENIOR MEMBER
655 posts, read 2,045,525 times
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Quote:
Originally Posted by grdnrman View Post

For your home buying price range budget, you will find the most affordable homes in Liverpool, Clay, Cicero, North Syracuse, Salina, Baldwinsville, Lysander, Van Buren, Camillus, & Chittenango/Sullivan.
You have said you are looking to buy a home in the $100,000 to $125,000 price range. You will find larger (for your money) and better condition homes (for your money) in the above northern suburbs; Liverpool-(village and newer outer suburban Liverpool area) for example would be a very good place to start looking.

The suburbs of Radisson, Onondaga Hill, Skaneatles, newer part-Pompey, Cazenovia, Fayetteville, and Manlius have more expensive homes and are nice, more upscale areas. Homes in the $100,000 to $125,000 price range in those upscale suburbs are few or probably hard to find or small square footage or not in very good conditon and in need of extensive remodelling/updating.

You can do real estate internet searches for Homes in the $100K & $125K price range and see what you can find in the Fayetteville-13066 ZIP CODE and for Manlius-13104 ZIP CODE and see for yourself what is available; but I'm talking about those two specific Zip Codes 13066 & 13104. There are other towns/suburbs in the >TOWNSHIP<(NOT SUBURB) OF MANLIUS. The other suburbs in the >TOWNSHIP<OF MANLIUS are: part of East Syracuse area>zip code 13057, Minoa area zip code 13116, Kirkville area>zip code 13082, and a small slice of Chittenango (not village) area>zip code 13037; these zip codes WOULD HAVE lower priced homes available. (Fayetteville is also in the >TOWNSHIP< OF MANLIUS.

Just wanted to explain which areas are mostly upscale and which ones are regular middle-class areas>sometimes with small upscale home enclaves.
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Old 02-01-2011, 03:11 PM
 
257 posts, read 646,426 times
Reputation: 88
Quote:
Originally Posted by grdnrman View Post
You have said you are looking to buy a home in the $100,000 to $125,000 price range. You will find larger (for your money) and better condition homes (for your money) in the above northern suburbs; Liverpool-(village and newer outer suburban Liverpool area) for example would be a very good place to start looking.

The suburbs of Radisson, Onondaga Hill, Skaneatles, newer part-Pompey, Cazenovia, Fayetteville, and Manlius have more expensive homes and are nice, more upscale areas. Homes in the $100,000 to $125,000 price range in those upscale suburbs are few or probably hard to find or small square footage or not in very good conditon and in need of extensive remodelling/updating.

You can do real estate internet searches for Homes in the $100K & $125K price range and see what you can find in the Fayetteville-13066 ZIP CODE and for Manlius-13104 ZIP CODE and see for yourself what is available; but I'm talking about those two specific Zip Codes 13066 & 13104. There are other towns/suburbs in the >TOWNSHIP<(NOT SUBURB) OF MANLIUS. The other suburbs in the >TOWNSHIP<OF MANLIUS are: part of East Syracuse area>zip code 13057, Minoa area zip code 13116, Kirkville area>zip code 13082, and a small slice of Chittenango (not village) area>zip code 13037; these zip codes WOULD HAVE lower priced homes available. (Fayetteville is also in the >TOWNSHIP< OF MANLIUS.

Just wanted to explain which areas are mostly upscale and which ones are regular middle-class areas>sometimes with small upscale home enclaves.
Thanks! Yes, I have looked at a lot of real estate online. I think I've narrowed it down to Liverpool, Manlius (may be a stretch financially) and the North Syracuse area of Clay and Cicero, in that order of priority. Being form Long Island, I'm looking for something a little more urban/suburban. Ideally I'd like to be able to walk to a lot of local stores/parks/playgrounds, but wouldn't mind a quick car ride. Basically to keep it around the $900 monthly payment, I think I'm looking at 100k-125k and taxes south of $3600.
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Old 02-01-2011, 07:15 PM
 
56,593 posts, read 80,890,793 times
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Not to be a pain, but don't count out Baldwinsville, as it is a pretty walkable village that has some stores and you are a quick ride down Route 31 from stores and restaurants.

Out of those you narrowed down to, Liverpool might be the best bet due to being a walkable village with stores/restaurants and it's location between 2 malls, along with stores on Routes 31 and 57.
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Old 02-01-2011, 08:41 PM
 
257 posts, read 646,426 times
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What do we think of these? According to my # crunching, these all come in under $1000 monthly payment. I searched by school district (Liverpool), so some of them are in other towns. If they're in that school I imagine it must be close to the area right????? You tell me if any should be eliminated.
MLS#: S238646

MLS#: S245106

MLS#: S246520 nice w/ bizzare kitchen layout

MLS#: S244176 seems like great buy

MLS#: S244360 nice and another good deal

MLS#: S246208 LOVE

MLS#: S243137 kitchen rehab needed, but great location
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