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Ok here is my situation, i live on long island and am looking to move out of my parents house. I am 26 and working fulltime making about 45k a year right now. will jump to 55k in january, and then about 65k the next january. I have been wanting to get out of my house and an opportunity has arisen. My friend owns a house and was renting the upstairs to his friend but he has moved out and needs someone else to take if over. I don't think I can afford to buy anything seeing as how I have about 20k in savings and don;t make that much money per year yet. I want to get out of my parents house because I want more freedom, plus i have a girlfriend, which is tricky while living with parents.
My friend's place is an upstairs, its got a big bedroom, bathroom, and a small living room. I would have to share the kitchen downstairs with my friend, also i guess I can hang out in his living room downstairs as well. there is washer/dryer that I can use also. He is charging 750 per month rent plus half of the utilities. he is giving me cable/internet for free. he estimated it would probably run me around 850 a month. Is this a good deal? it is in Merrick by the way. also I can just pay him cash and there is no contract so I can leave anytime if it doesnt work out.
it would be 750 and then whatever his utility bill is i think we would split it. he is giving me cable and internet for free.
I have been looking on craigslist and other websites, and it seems like apartments around the merrick/levittown/bellmore/seaford/wantagh area, where I want to be, are all around 1000 bucks for anything decent. Does sharing the kitchen devalue the place that much? Or would I be better off trying to find my own place and pay more ?
If it's not a 2-family house, then it's most likely an illegal apartment. LI police are really cracking down on that stuff. I wouldn't bother with it.
If you do move in, definitely get a WRITTEN lease. It doesn't matter if it's your friend renting it, you need to be 100% sure of the terms of the lease. It's so easy to play he said/she said with rentals.
By the way you can def. buy on that income. I did @ 26...making less than you and had less saved...but my place is tiny. Either way, if you want to buy bad enough, you can. I didn't say it would be in the best of areas or a big place, but you certainly CAN if you really wanted to.
yeah im looking to stay close to where I work. where were you able to buy ?
one of my friends split a tiny 2 bedroom house in seaford with his cousin, they both make more money than me and they are really struggling. they even had to cut their cable cause they are both so broke from this place. That is what was making me think I had no shot of buying in this area at all
Sounds like a house share situation, vs an apartment so that would probably not be illegal.
I think you just need to figure out if ~$300 a month worth the less privacy of a shared entrance/sharing kitchen / more flexibility.... a lot of people can tolerate living with friends, some not.
I rented a room for a while for 400 bucks a month with my own bathroom. It was OK but I moved out pretty quickly.
there is a side door that is right next to the staircase going upstairs, and each room upstairs has a door, so it is pretty private. I don't spend much time in the kitchen anyway, so I dont think sharing the kitchen would be too much of an issue. Everyone tells me I should stay home and keep saving, but I feel like, what am i supposed to do, live at home till im 30 ? shouldnt I be out on my own enjoying freedom while in my 20s , even if i have to rent ? is it really that much better to buy on long island than it is to rent ?
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