Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
600k can get you a very nice house in LI, NJ or Westchester. The problem is you're too fixated in northeast Queens.
Exactly its like someone with a limited budget eyeing a 3 bedroom condo in Manhattan proper when they should really be looking at Jersey City which has luxury condos that are on par with Manhattan, and significantly cheaper. The first rule in buying a home should be to look at where you can afford and not just eyeing at the most expensive places. If you're on a limited budget, in LI stay away from northwest Nassau, in NJ stay away from the Short Hills area, and in Westchester stay away from Scarsdale, Chappaqua. Also Staten Island would be an excellent if not the best realistic option for OP if staying in NYC is a must at that budget. The southern part has decent schools, low taxes, and low home prices. Plus the drive to Manhattan is like less than 40 mins.
Last edited by bumblebyz; 08-12-2016 at 08:47 AM..
I'd recommend buying a 2 family house so you can rent out the other half to help pay your mortgage but it's very hard to score a decent one. From my experience, the areas you are looking into are very high in demand. Houses are being sold to the highest bidder and it's going fast. With your budget, I don't think there's a chance. Even the run down ones are being bought quick because people have the money to renovate it and such.
Just came back from another second look for a potential listing, as soon as I walk in the door, the agent told me there is an existing offer already, and it's the asking price, looks like I have to bid higher than asking price now. How much can I trust the agent's word? I was going to submit an offer that is lower than the asking, should I still do it, or it's not worth the time. I really dont think the home worth the price it's asking.
If the home price is really this high, might think an apartment or condo instead. Feel so disappointed about today's home price.
I read recently that the #1 destination for working New Yorkers leaving the city is actually Philadelphia. This is becoming so true the joke around here is that Philly has become "The Sixth Borough."
The cost of living here is much cheaper. Some people willingly accept the long commute.
Sure, if you want to live in a state dominated by right wing voters and a right wing state government. Plus horrific factory farms where pigs and other animals are tortured from birth to death - that's NC for you. I have a cousin who lives in the Durham-Raleigh-Charlotte "triangle", she's a Ph.D. and she says it's an area of academic high achievers, but the state culture is for the most part Republican conservative and I would hate to live around that. I know that there's Asheville, etc. but still, I would hate to live in a right wing state.
It's a tough situation, though. How can young people afford the average house in NY?
Or stay in a city / state that's a left wing cess pool that has the highest taxes in the country. That way, you can pay for the world's poor that think they are entitled to live in NYC. And NYC infrastructure - that will be fun over the next decade.
Just came back from another second look for a potential listing, as soon as I walk in the door, the agent told me there is an existing offer already, and it's the asking price, looks like I have to bid higher than asking price now. How much can I trust the agent's word? I was going to submit an offer that is lower than the asking, should I still do it, or it's not worth the time. I really dont think the home worth the price it's asking.
If the home price is really this high, might think an apartment or condo instead. Feel so disappointed about today's home price.
Here is my opinion. If I was you, I would think about if the house is worth that price. On top of that, am I able to afford all costs related to the property, such as property tax, maintenance cost, etc.... Keep in mind, property tax always go up year after year, so don't underestimate the cost for a new house. I would rather overestimate the total cost and compare to how much I can maintain on a monthly basis in term of income and expense, then I will make my final judgement.
Yes, nowadays all properties are way over price, but that's because is NYC. Also, you have a lot of people from oversea got the money to bring in here to buy it, so there's nothing you can do to stop from it.
Over seas buyers with cash can afford these houses.
People who bought over 20 years and had massive appreciation of their property now sell. They now have massive down payments or cash payment.
Inherited property/life insurance settlement/lawsuit settlement means large sums for down payment.
High earning adults who stayed home and saved for a few years and are gifted money from their parents easily have $200k or more for down payment.
You won't die if you move to your second and third choice neighborhood.
In my experience houses are being sold at or over asking price. Well priced house in reasonable condition gets multiple offers within the first 2 weeks.
Think about what you can realistically afford and shop/make an offer accordingly.
Move to another city away from the coasts. I just bought a large 3 bedroom home in Pittsburgh in a good school district surrounded by parkland and deer for under 200K.
The OP isn't listening to any of the suggestions or comments on this thread...
As numerous people have pointed out, the OPs budget is too low for the area they are considering. If you can't afford the home prices in that area, you need to look elsewhere. It's as simple as that! Instead of complaining, the OP should listen to suggestions about good/safe/etc areas that are in their price range.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
