First time buyer; Areas to buy in NYC? (Ridge, Hamilton: sale, condos)

[1st-timer-NYC]

Hi;

I'm a first time buyer, and I would like to purchase a home in Brooklyn or Queens.

My budget is 120k per yr. Got very good credit +700, and a stable job.

Right now, I got saved up about 30k so I think I will go with a FHA loan.

My range for home values is between 250-450k

Having said that I'm looking at single family houses and condos.

My only strict requirement is that the property should have at least 2 bedrooms and is in a safe neighborhood.

Ideally (not a necessity):

-It would be close to the subway
-Has outdoor space



What areas can you recommend for this type of property?

Also, can somebody recommend a Mortage and property brokers?


Thank you guys!!!!!!!!

[Kal.]

Originally Posted by 1st-timer-NYC

Hi;

I'm a first time buyer, and I would like to purchase a home in Brooklyn or Queens.

My budget is 120k per yr. Got very good credit +700, and a stable job.

Right now, I got saved up about 30k so I think I will go with a FHA loan.

My range for home values is between 250-450k

Having said that I'm looking at single family houses and condos.

My only strict requirement is that the property should have at least 2 bedrooms and is in a safe neighborhood.

Ideally (not a necessity):

-It would be close to the subway
-Has outdoor space



What areas can you recommend for this type of property?

Also, can somebody recommend a Mortage and property brokers?


Thank you guys!!!!!!!!

Rent in those hoods before buying, dude!!

[ElizaTeal]

The Fort Hamilton section of Bay Ridge is safe.

[fedesajoma]

Am a first time home buyer to.
The more homework you do the less money you pay.
1.call www.HUD.gov (free)
2.Chhaya CDC | Sustaining Homes, Strengthening Communities... (free)
the don't 1 stop shop. don't rush anything.
look at homes in wep like
www.trulia.com (free)
www.zillow.com (free)
if anyone tell you need to pay first walk away.

[1st-timer-NYC]

I've lived in NYC for 10 yrs, so I know the level of safety of most neighborhoods in Brooklyn and Queens. I just wanted to get an idea of what areas are good for my budget and requirements.
I've looked at several new developments in Long Island city, Sunnyside and Astoria in Queens. They all seem kind of expensive, and most 2 br's in those neighborhoods go for well 400k.

In Brooklyn I haven't looked at anything yet, but I hear Bay ridge is a good option. The problem with BR is that most of the buildings there are co-ops and for the kind of loan I'm eleigible for, I would need a condo and a single fam.

[1st-timer-NYC]

Originally Posted by fedesajoma

Am a first time home buyer to.
The more homework you do the less money you pay.
1.call www.HUD.gov (free)
2.Chhaya CDC | Sustaining Homes, Strengthening Communities... (free)
the don't 1 stop shop. don't rush anything.
look at homes in wep like
www.trulia.com (free)
www.zillow.com (free)
if anyone tell you need to pay first walk away.

Hi,

Thanks for the tips.
I look at those sites all the time.
they're pretty useful.


What areas are you looking to buy in?

[jad2k]

to the OP and fedesajoma; I swear by streeteasy.com. I even subscribed to their premium service (it's $10) when I was looking b/c it allows you to see recent sale prices for buildings and houses you are considering...helps understand comps.

[1st-timer-NYC]

Originally Posted by jad2k

to the OP and fedesajoma; I swear by streeteasy.com. I even subscribed to their premium service (it's $10) when I was looking b/c it allows you to see recent sale prices for buildings and houses you are considering...helps understand comps.

Don't zillow and trulia already allow to see recent sale prices for free?

What and Where did you end up buying jad2k?

[fedesajoma]

am in a contra. in Queens a 2fa 3o3.new controcion.
[SIZE=3]How long you stay in your home?[/SIZE]

[1st-timer-NYC]

Originally Posted by fedesajoma

am in a contra. in Queens a 2fa 3o3.new controcion.
[SIZE=3]How long you stay in your home?[/SIZE]

Where if you don't mind me asking? (PM if you don't feel comfortable posting it here)

I plan to stay at least 5 yrs if I buy something.