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I currently live in a 1br apt in Manhattan, but the rent at a whopping $1890 not including electric and cable is too damn high! I know there’s cheaper 1br available out there in this great city. I need something cheaper. I will not settle for a roommate, I will not settle for a room or a studio, I will not settle for the Bronx, or Staten Island. I will only settle for Brooklyn and Lower Manhattan, maybe queens (borderline Brooklyn.) Credit is 700+ what are my options?
Now being that I’m paying rent, a little bird told me it makes more sense to invest in a Condo but o haven’t saved any down payment for a condo so it may be too soon to eye those but I told I could take a vantage of the firth time homebuyers option and not all mortgages needs down payments, thoughts?
That sounds like good rent to me, and wanting cheaper rent does not sound like a great reason to buy a condo. And I'm wondering if you've been in NYC long, since you say condo instead of co-op. You shouldn't be buying if you're a newbie on this. And, again, I don't know how long you've been around, but in fact NYC is all about settling.
I currently live in a 1br apt in Manhattan, but the rent at a whopping $1890 not including electric and cable is too damn high! I know there’s cheaper 1br available out there in this great city. I need something cheaper. I will not settle for a roommate, I will not settle for a room or a studio, I will not settle for the Bronx, or Staten Island. I will only settle for Brooklyn and Lower Manhattan, maybe queens (borderline Brooklyn.) Credit is 700+ what are my options?
Now being that I’m paying rent, a little bird told me it makes more sense to invest in a Condo but o haven’t saved any down payment for a condo so it may be too soon to eye those but I told I could take a vantage of the firth time homebuyers option and not all mortgages needs down payments, thoughts?
You sound very demanding for someone who can barely afford $1900/mo in rent. Consider yourself lucky to pay $1900 in Manhattan and forget about it.
What are you ideally looking to pay? The best you could get in Queens without going too deep is a 1 BR in Astoria (and maybe Sunnyside) for ~$1700. There's not a lot of those on the market however.
Already have a 1bd for $1890? Desire to buy to be cheaper? Will only settle for Brooklyn, Manhattan, Queens on the border of Brooklyn (sounds like Ridgewood)?
Yeah that can't be true. $1890 for 1BR is extra low, it just doesn't sound right, especially in lower Manhattan.
If you have that, it's a gem, just stay there.
I currently live in a 1br apt in Manhattan, but the rent at a whopping $1890 not including electric and cable is too damn high! I know there’s cheaper 1br available out there in this great city. I need something cheaper. I will not settle for a roommate, I will not settle for a room or a studio, I will not settle for the Bronx, or Staten Island. I will only settle for Brooklyn and Lower Manhattan, maybe queens (borderline Brooklyn.) Credit is 700+ what are my options?
Now being that I’m paying rent, a little bird told me it makes more sense to invest in a Condo but o haven’t saved any down payment for a condo so it may be too soon to eye those but I told I could take a vantage of the firth time homebuyers option and not all mortgages needs down payments, thoughts?
That little bird whispering into your hear must have been drunk or on crack, because he's blowing smoke....
At $50k per year your net income is barely enough to afford your current rent. Don't see a bank or anyone else giving you a loan with income that is well below current median for city. Even if you have zero debts and thus in theory could devote entire take home salary towards housing payments numbers don't work out. Worse still unless you have ten to twenty percent to put down no one is going to touch you with that kind of income.
As for various first time home buyer programs for the busted or whatever, there are many out there but there are a few issues. First and foremost you have to meet whatever qualifications that go with said loan. Larger issue is often finding a property that qualifies for these particular sort of financing.
Realistically you would need to find a property going for $200k or less; good luck with that. You won't find anything in that price range for a condo in Manhattan, much or all of western Brooklyn or Queens. Staten Island, Bronx, and further far out reaches of eastern Queens or Brooklyn may be another story. There you may have more success.
I currently live in a 1br apt in Manhattan, but the rent at a whopping $1890 not including electric and cable is too damn high! I know there’s cheaper 1br available out there in this great city. I need something cheaper. I will not settle for a roommate, I will not settle for a room or a studio, I will not settle for the Bronx, or Staten Island. I will only settle for Brooklyn and Lower Manhattan, maybe queens (borderline Brooklyn.) Credit is 700+ what are my options?
Now being that I’m paying rent, a little bird told me it makes more sense to invest in a Condo but o haven’t saved any down payment for a condo so it may be too soon to eye those but I told I could take a vantage of the firth time homebuyers option and not all mortgages needs down payments, thoughts?
LMFAO!!!!!!
The demands are real with this one. This reminds me when I use to date and kept running into over weight single mothers in their 30's making minimum wage but they were demanding men over 6' tall, with 6 figure salaries and 6 pack abs for them to be remotely interested.
Yo, you in Manhattan paying $1890 for a 1 bedroom, you better enjoy that sht while you can when others are paying $2500 for a studio. Seriously, how you gonna want to live in the most expensive parts NYC and throw demands out there like that even though your rent is already that low? You're netting (last i checked) lower middle class but putting out demands like you netting 6 figures.
If I were you I would start compromising such as the BX or Queens before ending up living paycheck to pay check. I would take my money, move out of Manhattan into a much cheaper neighborhood and save my money until i could get better and have a buffer to cover me if anything goes wrong.
Another thing that you may want to look at is that if you're netting 50K but rent is only $1,890, (lets buff that to $2,100 for misc stuff). Where was the remainder $25,000 going that nothing was saved for future endeavors?
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