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Yeah, you should only buy a house you can afford, like one of those 5500Sq ft McMansions in Manorville. Just get an interest only loan with a low teaser, than buy two cars and a small boat. Install paver driveway, then stop paying the mortgage and live in house for two years until the bank forecloses on you. Take your cash and rent in a mother/daughter in Nassau.
I mean, can't you just be like everyone else? You know, RESPONSIBLE.
The NERVE of some people.
I looked but I couldn't find one with enough fuocco to suit my taste.
Plus, get it straight, I need at least 3 cars and a large boat, not a small one. Those are the barest necessities in life.
All kidding aside, I just don't understand why people get themselves into these situations. Buying a house that you cannot pay the mortgage on without relying on STRANGERS/RENTERS to fund? Putting your financial destiny and homeownership in the hands of people who cannot even afford their OWN house? And then being surprised/dismayed/trapped when the renters do not come through for you with the rent payments. (Surprise! Surprise!) Unwise all around to be an undercapitalized landlord (and I'm not even going to discuss "illegal" landlord at that)!
I am sorry to hear this but sadly this is the tale of many landlords currently as tenants have wised up to game the system that is skewed so heavily in their favor.
I'm not a renter but could you please explain what you mean by what I quoted above?
Probably that so many renters realize they're in illegal apartments so they know they can 'stick it' to the owners.
So by stick it you mean they just stop paying and continue to live there like for free?
And just to make clear I'm 19, live at home but pay rent and work f/t and save as much as I can to hopefully put down a very large down payment on my very own home...
I discovered City-Data due to doing searches about other states and places to live but the more I read and the more I read about violent weather in other states and how bad the economy is everywhere I think I will just stay right here on the east end of Long Island....the more I seem to read about other places the more I have come to realize that even wtih its high cost of living Long Island can be a very nice place to call home.
Some mother-daughter homes are legal, at least in Huntington. You just have to file with the town.
By definition, "Mother/Daughter" homes can only be occupied by family members, and even then you need a permit. Huntington does allow "accessory apartments" in owner occupied homes, but, again, a permit is required.
So by stick it you mean they just stop paying and continue to live there like for free?
And just to make clear I'm 19, live at home but pay rent and work f/t and save as much as I can to hopefully put down a very large down payment on my very own home...
I discovered City-Data due to doing searches about other states and places to live but the more I read and the more I read about violent weather in other states and how bad the economy is everywhere I think I will just stay right here on the east end of Long Island....the more I seem to read about other places the more I have come to realize that even wtih its high cost of living Long Island can be a very nice place to call home.
Thanks for helping with the question I had.
Yes, the economy is bad all over but Long Island has some of the highest housing costs in the country. You're very young and obviously don't have a family of your own yet (spouse/kids) so I'd seriously consider putting down roots in another state. Of course, if you don't want to leave the family you already have in New York, I can understand you wanting to stay. Long Island is nice but you need to have high earning potential to afford a house, especially in Nassau County. It might work out for you if you can hoard a bunch of money while living with your parents. I'd seriously advise saving as much as you can for as long as you can if you want to stay in New York. The bigger the down payment, the better off you'll be.
Last edited by GPC; 10-05-2011 at 03:22 PM..
Reason: readability
Oh yeah ... and you forgot burning 50's in the fireplace to keep warm.
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Oh yeah ... and you forgot burning 50's in the fireplace to keep warm.
