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Old 01-30-2007, 12:46 AM
 
202 posts, read 432,062 times
Reputation: 32

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I need recomendations from the good folks on this board... I am a first time home buyer having some dificult time trying to find a home in NY that makes sence for my family...by that I mean I do not want to move more than 45 minutes north of white plains and I want a safe quiet neighborhood for my kids to grow up in. What do you think, could a first time home buyer afford this simple necessity or is it time to pack and get out of dodge? or am I asking too much...

Budget is 300K-400K...
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Old 01-30-2007, 02:02 AM
 
Location: WPB, FL. Dreaming of Oil city, PA
2,909 posts, read 12,973,621 times
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Where in New York? $300k is alot in upstate NY but in NYC your looking at a studio in a safe area. I have a friend who bought a small 1/1 condo for $300k an hour's train commute away from NYC where his job is at. Is a studio going to be enough for you, your wife and children(how many) maybe you could rent a bigger apartment instead. Relocating to a cheaper area makes sense.
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Old 01-30-2007, 07:17 AM
 
10 posts, read 49,748 times
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I agree with the other person 300-400 impossable if you want good schools . I dont know how many kids you have. But I have been looking for 5 years to move and my price range is 500-600. i will say i do see a change in quality of homes for my money. so keep looking. I do know of a house in Rye which is where I dream to live (beach town) the house is asking 489.000 the mls number is 2625773 look it up in any realty website. Its to small for me due to the fact i have 3 children. But it's a great deal for Rye. I know you could get it for cheaper this house has been on the market for a long time. So if you can deal with not a huge house and not a huge backyard. it needs fixing i am sure. but in your price range you can beat it (Ahh rye) best schools in the counrty. worth a shot. Good luck i feel your pain. If I remember right the house is on New street.
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Old 01-30-2007, 10:40 AM
 
Location: Bronx, NY
2,806 posts, read 15,183,783 times
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Look into New Jersey. You can still find a 3br/1ba in many areas with decent school districts for around 400k. The commute into the city from most of these areas is under an hour, closer to the 30 minutes from some towns.
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Old 02-08-2007, 08:50 AM
 
Location: Westchester and Putnam County NY
47 posts, read 257,119 times
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Depends on the size of the house but you can find something under $400,000 in Carmel which will be about 45 minutes to White Plains maybe less.
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Old 02-08-2007, 09:11 AM
 
Location: Orrstown, PA
14 posts, read 81,749 times
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You may want to look into Walkill - it's a 'suburb' of Middletown (Orange County). My brother-in-law lives there with his two children. It is definitely a buyer's market in that area, as buiders went crazy with houses, and now don't have enough buyers. Just avoid the city of Middletown itself - not a good area.

Good luck to you!!
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Old 02-08-2007, 06:57 PM
 
287 posts, read 1,363,006 times
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I will be going on my third home and cant afford 3-400k it amazes me where these first time home buyers can come up with this kind of money. Hmmm...
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Old 02-09-2007, 08:20 AM
 
Location: Midwest
6,739 posts, read 8,708,860 times
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Quote:
Originally Posted by settlepa View Post
I will be going on my third home and cant afford 3-400k it amazes me where these first time home buyers can come up with this kind of money. Hmmm...
Some first time home buyers can buy a house with little or no money down. My Brother in law bought a house and all he had to pay was the Good Faith money, which was 500.00, owner paid closing, etc, etc.

So, it is possible.
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Old 02-13-2007, 09:19 AM
 
1 posts, read 7,609 times
Reputation: 10
Hello,

Are you still looking for an affordable home in NY?

I have a beautiful home (3bed+2bath) with 2.5 acres of land in Glen Spey, NY. It's just 10 min from Port Jervis train station (2 hour) ride to NYC. It's 275,900.

If you are interested, I can send you images and more information.

Sincerely,
Marcia Raymond
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Old 02-13-2007, 11:22 AM
 
Location: Upstate NY
2 posts, read 11,312 times
Reputation: 14
Default First Time Home Buyer...

Quote:
Originally Posted by Sammie View Post
Some first time home buyers can buy a house with little or no money down. My Brother in law bought a house and all he had to pay was the Good Faith money, which was 500.00, owner paid closing, etc, etc.

So, it is possible.
I agree, it is possible, it's called 6% seller concession or contribution. Mostly offered by desperate/motivated sellers. Just make sure you get your figures squared out and you fully understood the program your qouted on by your loan officer...monthly payment most definitely will be higher...credit score also on high side, plus most lenders now require reserves. There are programs that starts out on low but I'm sure you are aware of those programs...If you want to know more..I'll gladly share. I'm a homeowner from Larchmont, NY.

refi
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