LI Housing Prices (New York, Nassau, York: transplants, health insurance, mortgages)
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I am astonished by how much $$ things in San Diego cost comparative to the size home you get. Here on LI you can get a big gorgeous home by the water for $1mil … $1mil in SD gets you a 1500sq ft home inland. That seems crazy to me
On the south shore its possible, You aren't sniffing a decent home on the water for 1m on the North Shore. Yea LI is a bargain compared to SOCAL.
On the south shore its possible, You aren't sniffing a decent home on the water for 1m on the North Shore. Yea LI is a bargain compared to SOCAL.
yeah totally. but it's not like impossible.
My inlaws in SD swear its like the greatest thing since sliced bread and they say "well it's cheaper b/c the taxes are less" ... sure taxes are less, but water isn't, electric isn't, gas isn't and when you think about the size home you'll get & location it's in, not so 'cheap' after all, is it?
Real estate in SoCal is significantly higher (a little less in SD than the LA metro area) but everything else is less including utilities and you don't use so much electric or gas because of the weather. Gasoline is higher. property taxes can be less or the same depending on the age of the home. Produce is cheaper. You also don't need so much 4 season clothing. The housing stock can be just as old as here and if it's newer, then it's very pricey. Overall, it's a wash in terms of COL.
I can't believe the amount buyers are paying for SOME of these homes.
It speaks of desperation, or just plain bad taste.
When rent is 3k for a two bedroom, it’s cheaper to buy. Of course if you have the down payment. Where can you borrow money for 30 years at 2.5% ? Factor in inflation & mortgage ta deductions (Yes, it’s limited) it’s FREE MONEY!
Here in the city limits few are going to buy what they rent …..a single family home is over 7 figures here
You can rent a 2 bedroom 2 bath apartment in a high rise for a fraction of that .
We were looking at a two bedroom 2 bath condo in westchester in a high rise which has different economies of scale then a single family home does .
it was 450k plus 7k a year in taxes plus 700 a month in hoa fees .
Even with no mortgage that would cost us far more then our rent once you consider that 450k is no longer invested ..cash flow would suffer to much being we are retired , to make buying an equal to our apartment worth doing ….our rental has a pool and tennis courts in queens
Here in the city limits few are going to buy what they rent …..a single family home is over 7 figures here
You can rent a 2 bedroom 2 bath apartment in a high rise for a fraction of that .
We were looking at a two bedroom 2 bath condo in westchester in a high rise which has different economies of scale then a single family home does .
it was 450k plus 7k a year in taxes plus 700 a month in hoa fees .
Even with no mortgage that would cost us far more then our rent once you consider that 450k is no longer invested ..cash flow would suffer to much being we are retired , to make buying an equal to our apartment worth doing ….our rental has a pool and tennis courts in queens
Yes, remember discussing that! 450k can generate 40-50k in income +/-
So even if you rented for 3k per month, you still have plenty left over!
However, there is no “One size fits all”. Everyone’s situation is totally different.
Here in the city limits few are going to buy what they rent …..a single family home is over 7 figures here
You can rent a 2 bedroom 2 bath apartment in a high rise for a fraction of that .
We were looking at a two bedroom 2 bath condo in westchester in a high rise which has different economies of scale then a single family home does .
it was 450k plus 7k a year in taxes plus 700 a month in hoa fees .
Even with no mortgage that would cost us far more then our rent once you consider that 450k is no longer invested ..cash flow would suffer to much being we are retired , to make buying an equal to our apartment worth doing ….our rental has a pool and tennis courts in queens
How much is it to buy the same unit that your in now compared to renting?
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