Woat would you do? I'm torn (Valley Cottage, Nassau: real estate, rent, homeowners association)
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Not looking for anyone to make decision for us, just torn what to do. Moved from long island to CT about 10 years ago...bought a nice townhouse, but was lucky to sell it a few months ago, finance issue with homeowners association fees after a while were too low to cover complexes monthly expenses, etc, we got out luckily, homeowners now may not be able to sell until finances get better. we are now renting month to month.
Plan was to relo to Florida with current company, obviously that didn't work out, but had initial interview with another similar company last week, doing same job in Florida for about the same money.
Here is the conundrum, found a management position making a lot more $ but it is on Madison ave and 71st street.
Torn between looking for a home back on crowded long island, with absurd taxes and traffic. Don't want to pay rent too much longer. We have 50 k for a down payment. I know, not much for long island. However, that is some house in Florida. Pros for long island, close to our families again, going back to the 100% familiar, we will always be long islanders at heart. Cons, my commute, high taxes, not much for our $$.
For Florida pros would be a better lifestyle, no winter, get a new house for under 200k with a 15 year mortgage bet I can pay it off in 11-12. Cons, far from family, out into the unfamiliar ( but I did go to college there so not that unfamiliar)
Thoughts? Our vote is for Florida, we have no kids, wife is a nurse, so employment for her is easy.
Do some math - once you factor in all of the added costs that come with the Madison Ave. job (increased home price, property taxes, costs of commuting, traffic, probably PMI since $50K won't match up to a 20% downpayment, etc.), will you actually end up with more money in your pocket than you would in Florida?
I wouldn't buy right off the bat in FL if you go there. Rent for awhile - I know it seems like throwing money away, but with no kids you aren't tied to schools and can decide if it's really for you without blowing your down payment in an iffy market.
I'd also make some calls about HO insurance where you're going - it can be really pricey in FL, as can auto insurance.
I'm not saying don't move - I moved myself with no regrets. But you sound like you're talking yourself into it so give yourself an out. I couldn't wait to move and was 100% sure of the decision.
As far as the job in the city - there are places you can live in NJ where you get way more bang for your buck than LI, without all the headaches if you want to go somewhere off the Island, and with easier commutes. If you want to stay tri-state, it doesn't have to be LI.
If the job didn't work out in FL.. could you find another quickly?
Frankly, I would rather stay in the Tri-State area. You can look in NJ or Westchester County. As much as I love LI..........the taxes......ugh............
I did the move to FL. HO was out of this world.......and I lost the house in Hurricane Charley. Yeah.. no hurricane in 40 years.....I move down......and whamo.
Homeowners where we were looking about 1500 a year, not a tremendous amount, Westchester taxes are way out of sight too, NJ is an option I really never gave much thought I know it is expensive in N. jersey as well as Rockland County NY my cousin lives in Valley Cottage and commutes to Manhattan his taxes for a fairly modest home are over 10k
I know quite a lot of people commute up from as far south as point pleasant or so in NJ, I don't know what properties go for as far as taxes etc etc.
Correct I can psych myself out of something if I think hard enough about it, we just look what we get for 200k in Florida, wow. 200k on long island? A 1 bedroom 1 bath co-op. No thanks.
CT out of the tri state is not too too bad if you get out of Fairfield, we are up by Hartford and there are affordable homes here but the economy stinks, I've worked for 3 companies since I have been here, one filed bankruptcy ( the company I left long island for) after I was there 2 years, one was bought out by a bigger competitor and I was laid off after 5 years, been where I am now for almost 2, and they are downsizing, I tried to relo to where most of the jobs are going, Charlotte, but the deal was that they are in an agreement to hire most of the new jobs from current NC residents.
I do love long island, made enough $ fishing to pay for college myself, but geeze is it costly, I don't get why taxes are so high but then again I look at teacher salaries, Suffolk and Nassau county police officerc salaries, pensions, etc, I get it to some degree.
Not looking for anyone to make decision for us, just torn what to do. Moved from long island to CT about 10 years ago...bought a nice townhouse, but was lucky to sell it a few months ago, finance issue with homeowners association fees after a while were too low to cover complexes monthly expenses, etc, we got out luckily, homeowners now may not be able to sell until finances get better. we are now renting month to month.
Plan was to relo to Florida with current company, obviously that didn't work out, but had initial interview with another similar company last week, doing same job in Florida for about the same money.
Here is the conundrum, found a management position making a lot more $ but it is on Madison ave and 71st street.
Torn between looking for a home back on crowded long island, with absurd taxes and traffic. Don't want to pay rent too much longer. We have 50 k for a down payment. I know, not much for long island. However, that is some house in Florida. Pros for long island, close to our families again, going back to the 100% familiar, we will always be long islanders at heart. Cons, my commute, high taxes, not much for our $$.
For Florida pros would be a better lifestyle, no winter, get a new house for under 200k with a 15 year mortgage bet I can pay it off in 11-12. Cons, far from family, out into the unfamiliar ( but I did go to college there so not that unfamiliar)
Thoughts? Our vote is for Florida, we have no kids, wife is a nurse, so employment for her is easy.
Like Twingles advised rent first in FL. Certainly it is cheaper down there (although it depends where it's a big state) and your money will go further. That being said tread lightly, I lived there for almost half my life and couldn't wait to get out, others love it (like my parents). It's a very different lifestyle. No snow is great but summers are absolutely brutal there (I don't miss that at all!). Many pros and cons to consider. Carefully calculate your savings down there, vs the possible salary increase up here. Not an easy decision, but at least it sounds like you are at a point in your life where you can move again if it dosent work out. Good luck!
Commuting from the Jersey shore is doable, but I'd look further north than Pt. Pleasant.
Bottom line is that if you are in the tri-state you are going to pay dearly for housing and taxes in NY and NJ are going to be high.
Again, I see nothing wrong with making the move. But I would absolutely not jump on buying a house till you've got the lay of the land down there. Even if you get there and day one know you love it and will never leave, you've got plenty of time to make a move on real estate. If you rent and you hate it you look elsewhere. Lots of "half-backs" here in the Carolinas - go to FL, hate it and come halfway back to NY (here).
Commuting from the Jersey shore is doable, but I'd look further north than Pt. Pleasant.
Bottom line is that if you are in the tri-state you are going to pay dearly for housing and taxes in NY and NJ are going to be high.
Again, I see nothing wrong with making the move. But I would absolutely not jump on buying a house till you've got the lay of the land down there. Even if you get there and day one know you love it and will never leave, you've got plenty of time to make a move on real estate. If you rent and you hate it you look elsewhere. Lots of "half-backs" here in the Carolinas - go to FL, hate it and come halfway back to NY (here).
Bingo, with metlife.
We just hate this rent we pay, what a waste. We are mid 40s, no kids, I went to college in Florida so am familiar with that lifestyle somewhat ( although yes seeing it through the eyes of a college kid is different than now). We were very very very fortunate to find a buyer for our town home and if we didn't we would be stuck. I have looked for as well in NC, and in DE too, very affordable but no offers yet. I know can't stay here though. Just hard to look at a house where the taxes are about $2k and the cost is $180k. Long island, same type of home in terms of age and sq feet $550-600k ad taxes $12 k at least.
NC is nice, affordable housing too but I want to be somewhat close to the coast, if I could possibly get a transfer with current company would be to Charlotte but that is way inland, and like I mentioned supposedly the deal is to hire mostly NC residents, I believe that was one of the reasons for Metlifes tax breaks for moving there. CT is an unforgiving business climate, and ultra liberal they make it easy for a company to make the decision to leave.
I passed on a job in MD ,seemed dead end and arrant Baltimore cost of living wasn't cheap either. I guess DE is cheap because the tax revenue is supplemented by massive corporate taxes from all the companies that are incorporated in Wilmington?
At any rate, thanks all for input, we do appreciate it...the heat down there we can deal with
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