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Old 06-25-2015, 07:40 PM
 
1,204 posts, read 1,225,470 times
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I still haven't purchased a house yet. In the process of saving up for one. Hopefully I'll be able to do it...sometime in the next decade the way things feel sometimes. Especially since I'm in the Northeast and am looking to get as close to NYC as I can where things are SO expensive. Would love to someday get something for around the $200,000 mark and commutable to the city, but yeah with NYC...that's not going to happen.

Anyway, I'd love to hear different people's experiences from around the country. I'm especially interested in the stories of folks around my way, but I figure it would be best to open the discussion up to all over.
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Old 06-25-2015, 08:50 PM
 
Location: Raleigh, NC
19,469 posts, read 28,018,076 times
Reputation: 36224
You're correct. Your wants and desires do not align with your location. No now, not ever in NYC.

Other than that, I dont get your question.
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Old 06-25-2015, 10:16 PM
 
Location: NY/LA
4,664 posts, read 4,574,509 times
Reputation: 4141
You could probably find a co-op in the outer boroughs for near or a little over $200k.
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Old 06-26-2015, 12:56 AM
 
1,399 posts, read 1,810,791 times
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Like you I thought a home was a far far off thing......then I found myself in a better situation and better situated maturity wise to own a home. I just had an offer accepted on a home. I am a first time home buyer on the West coast.....Salem Oregon area. It has been a learning curve. When you mentioned 200,000 and commutable to New York I thought.....no way! I know nothing about your market, but I know it is hotter than out here and out here is blazing. I started seven months ago and set a range of 175,000 to 225,000. I slowly came to the realization that I would need to bump that figure up more in order to find something that I liked in an area I liked and commutable to work. I had to bump it up to near 250,000. This opened up more options. To make it work I had to go up to 20% down to keep the monthly payment at a point I can feel it is comfortable and doable. I had my ups and down and grew completely discouraged at times but the right house did come along. Keep looking it will happen
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Old 06-26-2015, 06:33 AM
 
15,854 posts, read 20,705,355 times
Reputation: 21045
I *accidentally* bought a condo in 2010.


Fortunately for me, the recession never affected me that much. I was lucky I admit. I threw a bunch of money into stocks around 2008 and by 2010 I had a good chunk of change on hand. Found a condo just outside of Boston I liked that was a foreclosure. Nobody was buying anything, so I figured i'd just throw out an offer that was $40K UNDER what the bank wanted (which was already low). Ended up getting it to my surprise. Paid the 20% down, rented it for a year and then moved in and enjoyed life.

Fast forward to 2015. Need a SFH for growing family. Decided to take advantage of the hot market and listed the condo. Got my asking price within 3 weeks and made a incrediblly good profit on the deal. Closing date is coming up, so crossing fingers everything goes thru OK.
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Old 06-26-2015, 06:53 AM
 
Location: NE FL
1,565 posts, read 2,180,266 times
Reputation: 1381
Since you're a Japan fan and I'm Japanese, I'll play along. Not exactly sure what you're asking for but we bought our 1st home in 8/2012 (north jersey) at the absolute bottom of the market and we just sold it this month with a $112k profit (closing in August). We're taking the profit + equity and moving to Florida in 8/2015 for a better way of life (we hope - virtually no mortgage, state income tax, low property taxes etc. etc. etc.)
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