cost of living in long island

[JDMBA]

Originally Posted by seeyaPHX

Why is it that there are so many conflicting comments? People make it seem like you need to be clearing 200k to just make it as a family on LI? I know that taxes are high and all, but I just don't get how it would be such a struggle at 100k.

(Never had my car broken into when I worked/went to school in NYC)

Figure:
2k mortgage
500 electric/gas/cable/phone
500 food
1k to lease 2 cars

4k month? 50k after taxes, so 75k before taxes?

I've never leased a car..just get one you can afford so I think the 1k is insane, but people do this. The 500 for food is also probably high. Our mtg is 2k a month after putting 20% down and we are in a decent area, so this is possible.I think this all depends on whether you want the 600k house and 2 BMWs, then you are probably looking at 150k before taxes, but you don't have to live like that.

[dman72]

Originally Posted by JDMBA

(Never had my car broken into when I worked/went to school in NYC)

Figure:
2k mortgage
500 electric/gas/cable/phone
500 food
1k to lease 2 cars

4k month? 50k after taxes, so 75k before taxes?

I've never leased a car..just get one you can afford so I think the 1k is insane, but people do this. The 500 for food is also probably high. Our mtg is 2k a month after putting 20% down and we are in a decent area, so this is possible.I think this all depends on whether you want the 600k house and 2 BMWs, then you are probably looking at 150k before taxes, but you don't have to live like that.

Property taxes push that mortgage to 2600 at least on a house.

[JDMBA]

Originally Posted by dman72

Property taxes push that mortgage to 2600 at least on a house.

Our mtg including property taxes and insurance is 2k a month. We put 20% down and live in a decent area.

[LongIslandEddie]

There is an interesting article in today's Newsday which discusses that very question: What it takes to live here on the Island.
Study: LI costliest region in state for families