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Let me just say I love this forum. I am so glad I found it. Here is my situation. I want to move to LI. I love everything about the island and I have been dead set on moving there ever since I fell in love with it. I want to buy a condo. I really dont think I can afford a house right now in LI. I currently make $62,000 a year. I am 26 years old and I live in queens right now at the moment. My rent is $1075. Reallistically speaking, what can I afford in LI. I want to live in Nassau preferably Lynbrook, Oceanside, Merrick, areas along those lines. I am open to suggestion of other areas as well maybe like Long Beach (the good side). I currently work in Garden City so being close to work would be a good thing as well. Please help!
Let me just say I love this forum. I am so glad I found it. Here is my situation. I want to move to LI. I love everything about the island and I have been dead set on moving there ever since I fell in love with it. I want to buy a condo. I really dont think I can afford a house right now in LI. I currently make $62,000 a year. I am 26 years old and I live in queens right now at the moment. My rent is $1075. Reallistically speaking, what can I afford in LI. I want to live in Nassau preferably Lynbrook, Oceanside, Merrick, areas along those lines. I am open to suggestion of other areas as well maybe like Long Beach (the good side). I currently work in Garden City so being close to work would be a good thing as well. Please help!
Princess..
I'm saying this from not a very good place today.. having a bad day..but having a lot of those lately.. BUT.. I also say this because I care and would hate to see ANYWAY end up feeling the wayI do.
I was born and raised on LI.. so I know what I"m talking about.
If you do not have family in NY.. particularly on LI.. RUN.. don't walk.. someplace else.. SEriously.. LEAVE NY. don't even THINK about living on LI.
Forget it's beauty.. because it is nice at the beaches an all.. but it's hard to see that nice when you are drowning in a ridiculously high cost of living. YOu'll soon find you won't have any time to actually ENJOY anything about LI that you actually "fell in love with". You'll come to resent it..hate it.. and with that it's "ugliness" will start rearing it's head....
If you have family here I understand the decision to stay and to live on LI. Better LI than Queens!
I don't mean to be negative nelly. and for awhile it will be all fine and dandy.. you're asingle young woman making good income.. but try raising a family here!! EEEK!!! You'll be burried with the ridiculous costs!
You can take your great job and maybe make less someplace else BUT you'll have a better cost of living ratio someplace else.. AND you'll actually have time for yourself and someday for the husband and maybe kids you'll want to have. If you stay here you can kiss all that goodbye.
K.. sorry.. I just had to tell you that.. can't say you weren't warned.
While I do appreciate your honesty, I know what I want and what I want is to live in LI. I do have family in LI as well as queens and brooklyn. All the positives outweigh the negatives of living in LI and thats what I am focusing on. I am in no rush to have kids. I am focusing totally on my career right now and kids are far down the line for me. So if anyone else can reply to my original posts regarding pricing, I would love to hear your thoughts.
Let me just say I love this forum. I am so glad I found it. Here is my situation. I want to move to LI. I love everything about the island and I have been dead set on moving there ever since I fell in love with it. I want to buy a condo. I really dont think I can afford a house right now in LI. I currently make $62,000 a year. I am 26 years old and I live in queens right now at the moment. My rent is $1075. Reallistically speaking, what can I afford in LI. I want to live in Nassau preferably Lynbrook, Oceanside, Merrick, areas along those lines. I am open to suggestion of other areas as well maybe like Long Beach (the good side). I currently work in Garden City so being close to work would be a good thing as well. Please help!
Well how much of a down payment do you have?
Well on $62,000 you could probably afford something around $200,000 to $250,000. This is not enough to get into a condo on Long Island. I would suggest buying a co-op in Queens. Since you work in Garden City why not a co-op in Glen Oaks, Douglaston, Little Neck or Bayside. Living in Eastern Queens is pretty nice and you could get a real nice co-op which you could sell and trade up to a home later.
While I do appreciate your honesty, I know what I want and what I want is to live in LI. I do have family in LI as well as queens and brooklyn. All the positives outweigh the negatives of living in LI and thats what I am focusing on. I am in no rush to have kids. I am focusing totally on my career right now and kids are far down the line for me. So if anyone else can reply to my original posts regarding pricing, I would love to hear your thoughts.
I'm glad.. I just want you to realize .. I once was you ..thinking the same thing!! Now.. I'm regretting it. BIG TIME..
And just so you know.. my brother.. who is a PHD in Genetics and another borhter who works as an engineer in aeronotics.. both left LI .. I should have followed.
Again.. sorry.. I will stop now.. I promise. Good luck to you
Well on $62,000 you could probably afford something around $200,000 to $250,000. This is not enough to get into a condo on Long Island. I would suggest buying a co-op in Queens. Since you work in Garden City why not a co-op in Glen Oaks, Douglaston, Little Neck or Bayside. Living in Eastern Queens is pretty nice and you could get a real nice co-op which you could sell and trade up to a home later.
But with a coop, you dont really own it. You own shares in the coop. Am I correct? Those parts of queens are actually very nice. I just had my heart set on a condo though instead. Keep the ideas and suggestions coming. I have about $20,000 to put down if that matters.
But with a coop, you dont really own it. You own shares in the coop. Am I correct? Those parts of queens are actually very nice. I just had my heart set on a condo though instead. Keep the ideas and suggestions coming. I have about $20,000 to put down if that matters.
With a Condo you still have to pay taxes (usually high on long island) as well as a common charge as well as your mortgage. I find that Condo owning is more per month than owning a house --you do have to pay utilities too and they are getting to be quite expensive. You're better off with a small 2 bedroom starter home than you are with a Condo. With co-ops you don't have taxes but the common charges are higher --in some moderately priced co-ops they are around $800 per month. Remember you STILL have a mortgage to pay off. Also, Condo's and Co-ops are not cheap!
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I believe that condos are a lot more expensive than co-ops. Co-ops are hard to re-sell. Bayside has lots of them and so does Forest Hills; both nice areas. Great Neck has a complex, I think. But, not for $250,000, I doubt. I don't know where you would get a condo in a nice area for under $350,000.
I don't think there would be very many in Long Beach ; maybe a studio. But, in Long Beach there are lots of young people and there are all sorts of beachy things to do.
Good luck !!!!
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People may not recall what you said to them, but they will always remember how you made them feel .
With a Condo you still have to pay taxes (usually high on long island) as well as a common charge as well as your mortgage. I find that Condo owning is more per month than owning a house --you do have to pay utilities too and they are getting to be quite expensive. You're better off with a small 2 bedroom starter home than you are with a Condo. With co-ops you don't have taxes but the common charges are higher --in some moderately priced co-ops they are around $800 per month. Remember you STILL have a mortgage to pay off. Also, Condo's and Co-ops are not cheap!
Thanks Gigi but with a house, its more upkeep and the water bill etc... If the boiler goes on the fritz, your responsible. I dont want to get in over my head. Just want to be comfortable.
I believe that condos are a lot more expensive than co-ops. Co-ops are hard to re-sell. Bayside has lots of them and so does Forest Hills; both nice areas. Great Neck has a complex, I think. But, not for $250,000, I doubt. I don't know where you would get a condo in a nice area for under $350,000.
I don't think there would be very many in Long Beach ; maybe a studio. But, in Long Beach there are lots of young people and there are all sorts of beachy things to do.
Good luck !!!!
Thanks Nancy for your input. Boy this is alot to think about. Its never as easy as it looks. I saw a 2 bedroom 2 bathroom condo in Lynbrook for $299,000 but that is probably out of my range. I will work out the numbers and see.
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Hmm...What about a co-op in Queens
