Considering move to LI from Northeast PA - good idea? (homeowners insurance, loan)
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The median household income in Nassau County is about 92k and 83k in suffolk, this is 2009 data which is the most recent I could find (both of which are very high nationally). So you will be above the median household, of course your household is also much bigger!! At least you don't have childcare to pay for and you federal and state taxes will be almost nothing with that many kids.
The median household income in Nassau County is about 92k and 83k in suffolk, this is 2009 data which is the most recent I could find (both of which are very high nationally). So you will be above the median household, of course your household is also much bigger!! At least you don't have childcare to pay for and you federal and state taxes will be almost nothing with that many kids.
This person is talking about moving here and buying a home, which means the following don't apply
a) bought a house pre-bubble
b) will rent.
That's a pretty good chunk of that under 100K crowd covered by those 2 items.
Northeast PA is great for retirement but I doubt it has much opportunity for younger folks. Long Island isnt good at any age if you don't make enough money.
May I suggest you look further east. You probably can get a decent home in Mastic, Shirly, Coram, and, of course, Rocky Point for that money.
Im pretty sure you can buy just about anywhere on LI for 350 these days (Except Queens).
Im pretty sure you can buy just about anywhere on LI for 350 these days (Except Queens).
Shop smart ...theyre out there.
What are you getting for 350k these days? I mean, this guy has 4 kids and says 3/2 minimum. But, I'm not sure he understands how small a 3/2 that's 30+ years old can be on LI. In fact, 3/2 houses were very rare in my search - most were 3/1 or 4/2.
I guess the OP could find a 3/1 and look to finish a basement down the road... But, a family of 5 living via 110k (potential income) on LI? I think you'd have to be nuts to spend 350k. Even with 10% down and these insane interest rates you're looking at a payment well north of $2,500 (P&I, PMI, Taxes, Insurance). That would scare the bejesus outta me on a 110k potential salary with 3 kids.
What are you getting for 350k these days? I mean, this guy has 4 kids and says 3/2 minimum. But, I'm not sure he understands how small a 3/2 that's 30+ years old can be on LI. In fact, 3/2 houses were very rare in my search - most were 3/1 or 4/2.
I guess the OP could find a 3/1 and look to finish a basement down the road... But, a family of 5 living via 110k (potential income) on LI? I think you'd have to be nuts to spend 350k. Even with 10% down and these insane interest rates you're looking at a payment well north of $2,500 (P&I, PMI, Taxes, Insurance). That would scare the bejesus outta me on a 110k potential salary with 3 kids.
He says he has the 20% down, so that makes a significant difference in the payments when you cut out PMI/robbery. A little over $2000 amonth, not well north of $2,500.
OP needs to take a look around at the housing stock. Yeah, there are houses for $350K these days, most of them are crap and not getting any younger, with ridiculous taxes.
Move here for the BEACH? Puh-leeese. You can do MUCH better for 2 months of recreation.
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