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Where should one look to buy a house in NYC- preferably Brooklyn or Manhattan, with a $100K down payment saved up and a $65K job? At least 1 bedroom, but not picky beyond that. Just want options!
Sorry, Yes I didn't mean to say house. It's just my default for "home". Condo/co-op are fine with me. What parts of Brooklyn would you say for my income/down payment should I look? Ideas?
Hello, I'm thinking of moving to NYC sometime next summer (2019). I currently own a house in LA with about $200-225K worth of equity (based on market comps) and I'm prepared to plow as much of that as needed into a downpayment. I'm a single female freelancer who makes $60-80k/yr so I have been looking in particular at HDFC properties, but obviously I'm open to all properties within my budget. It seems that it's possible to find a studio or a 1 bed for $400K or less right now in Manhattan and the nicer areas of Brooklyn, depending on the neighborhood. I am wondering how often these properties are sold to all cash buyers? Would I even stand a chance with a $100K-200K downpayment? Thanks in advance to all repliers.
Hello, I'm thinking of moving to NYC sometime next summer (2019). I currently own a house in LA with about $200-225K worth of equity (based on market comps) and I'm prepared to plow as much of that as needed into a downpayment. I'm a single female freelancer who makes $60-80k/yr so I have been looking in particular at HDFC properties, but obviously I'm open to all properties within my budget. It seems that it's possible to find a studio or a 1 bed for $400K or less right now in Manhattan and the nicer areas of Brooklyn, depending on the neighborhood. I am wondering how often these properties are sold to all cash buyers? Would I even stand a chance with a $100K-200K downpayment? Thanks in advance to all repliers.
You should just look to buy something in Queens that is close to the LIRR. For $225K you could probably get a Condo in either Flushing or Bayside and they will be happy to accept all Cash. The LIRR gets you into Midtown in about 15 minutes from Flushing.
Now if you foresee yourself working downtown then try Sunset Park in Brooklyn. But bear in mind for Brooklyn the Summer of 2019 will be hell due to the L train shutting down. So if you have to commute to the city daily then bear than in mind. On the flip side prices on the L train will be lower. But even when the L train is restored it is miserable.
Clinton Hill is nice but on the G train which is unreliable and you'll have to transfer to A/C to get to the city and A/C suck in the morning (and suck in BK in general). Don't even think about Jersey City that ship has sailed.
I am a bit biased being from Queens - But I would suggest looking around in Queens this year. You may be able to go 50% down on an LIC condo. Only 15 minutes into the city from Queensborough Plaza.
Do you value convenience (do you need to be in the city EVERY day for meetings etc.) transit flexibility (will you have clients outside of the city) OR peace and quiet?
If in a bad year you are only making $45k in NYC (hypothetically) then you will be most comfortable in Queens. Because you will likely be 100% down and positive on equity so you won't have monthly housing expenses. It depends on your industry and the forecast. You can probably get business here more quickly but you can also lose accounts more easily. So you'll constantly have to be hustling for new clients. Not having to pay housing expenses in NYC is a HUGE advantage. So consider buying a $200k condo next to mass transit but not in the city.
Where should one look to buy a house in NYC- preferably Brooklyn or Manhattan, with a $100K down payment saved up and a $65K job? At least 1 bedroom, but not picky beyond that. Just want options!
With $100k down you should be looking at Queens. Unless you want to be upside down in your mortgage the moment you lose your job
Hi all,
I'm considering an opportunity which would require me to move to NYC from Los Angeles. Does anyone know where I can find an "accurate" salary comparator?
This thing is saying 60% for Los Angeles to NYC. I guess if you make $50k in LA you should get $80k in NY (seems reasonable). But if you make $200k in LA, I can't imagine that anyone is going to offer $320k for the same job.
The spectrum of prices is too wide for any accurate calculator. In terms of this calculator:
Groceries: I pay $300/mo going out for lunch and another $100 for groceries for dinner. If I eat breakfast, it's a $1.50 bagel at this weird hipster pagoda on 1st and 1st. (It's REALLY good!)
Housing: I pay $1600/mo for a small, by US standards, rent stabilized studio. Ask yourself, do you really need the space? You're moving here for the city, not the apartment. Rethink your housing needs as living here is not like anywhere else in the nation. You could also live in say south Brooklyn and get a 3bd for $2000/mo. I generally do find that SF/bay area is much worse rent wise.
Utilities: I pay $60/mo and that's electric with cooking gas. I don't pay for water or heat. I see this setup in most apartments, but I've also seen a wide spectrum of utility prices. Currently, I'd say I'm pretty low but I'm not getting a good deal if you do kW per sq ft or some other metric. Regardless, I can afford to part with $60/mo lol.
Transportation: Weird thing to compare with LA. You drive, we don't, most of us anyways. $121/mo. Is it less or more than what you pay in car insurance, payments, sticker fees, gas, etc. I found in IL this all would cost me about $500/mo. Your gas is higher, but I also had a long commute. However, if you had Chicago, you could argue $100/mo is less than $121/mo for mass transit. However! We have a huge bredth that compares internationally and most trains run 24/7. MTA has its issues, but the system is remarkable for America. If $121 is too much per month, I don't know what to tell ya. I get to work on time most of the time, so even if there is a lot of corruption, it works so my money is going -somewhere- useful.
Healthcare: No idea. Seems cheaper than Chicago yet 5x the price than Tokyo. We're screwed no matter where we are in this regard.
May be a bit of a dumb question... i'm looking at apts in manhattan and i've been told that the "Broker Fee", "1mo rent" and "security deposit" will be due at signing... my question is, is the "1mo rent" your first months rent payment? or is that just another fee that you don't get back?!
May be a bit of a dumb question... i'm looking at apts in manhattan and i've been told that the "Broker Fee", "1mo rent" and "security deposit" will be due at signing... my question is, is the "1mo rent" your first months rent payment? or is that just another fee that you don't get back?!
Im looking to move to NYC. I Have 5k saved up. Is that enough to make it? (with a roommate of course)
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