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purchasing a condo (pg. 2)
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| lazy chick |
try forest hills queens, nice neighborhood and it's not expensive. plus the commute to the city isnt't bad at all. you can catch the R to the city, it takes like 30 minutes to get to the city.
my sister used to live on yellowstone and 66th ave, she just sold her one bedroom for $190,000. |
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| trunks1022 |
| quote: | Originally posted by LuNaSeA
granted i dont kno much at all about living in nyc but... wouldn't you want to rent for a year or so in the area that you're looking to purchase a condo in first?? purchasing property IMO is a huge decision and you need to kno you're in the right neighborhood and that you feel at home in that particular neighborhood most of all and that takes time.. |
hm well one can always sell for inflated value a few yrs down the line... so why pay rent which really doesn't go anywhere but another person's pocket? just pay mortgage and you're buying into something you can say is yours. :) |
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| ctprincess |
| quote: | Originally posted by LuNaSeA
granted i dont kno much at all about living in nyc but... wouldn't you want to rent for a year or so in the area that you're looking to purchase a condo in first?? purchasing property IMO is a huge decision and you need to kno you're in the right neighborhood and that you feel at home in that particular neighborhood most of all and that takes time.. |
purchasing a condo is a HUGE decision, but i hate throwing money away on rent. you only have to live somewhere for 2 years to exclude the gain on the sale of the house for taxes, so 2 years isn't that long. and i'll be doing lots of investigation of the various neighborhoods, talking to ppl in my office etc. |
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| EliPsE |
| if you are willing to do possibly up to 45 minute commute. GO to jersey for that much money those lil condos go in the city u can get a huge damn house. my parentz house is about 500k and its big as hell. i could never imagine spending that much for only a small 1-2 bedroom. Theres always the path train/any other train and it doesn't take that long. |
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| Thero40 |
| I would also like to recommend places in NJ, your def gonna get more bang for the buck. |
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| kid nyce |
i think our princess has already assessed her position and her intention (tax deduction!) I'm sure she's considering every angle so I guess we should help her out with a TA-GIS-LIKE map out of NYC and surrounding areas.
I'd say post a neighborhood tht you are familiar with, the pros and cons, and any other information that might be beneifical to her in aiding her decision.
I'll start for one...
MANHATTAN
pro
-conveniency
-allow you some time to settle into the city and find other areas.
con
-no tax deducation
-money towards mortgage spent on rent but offers a better decision making process by discovering what you like and don't like. |
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| verndogs |
| quote: | Originally posted by kid nyce
i think our princess has already assessed her position and her intention (tax deduction!) I'm sure she's considering every angle so I guess we should help her out with a TA-GIS-LIKE map out of NYC and surrounding areas.
I'd say post a neighborhood tht you are familiar with, the pros and cons, and any other information that might be beneifical to her in aiding her decision.
I'll start for one...
MANHATTAN
pro
-conveniency
-allow you some time to settle into the city and find other areas.
con
-no tax deducation
-money towards mortgage spent on rent but offers a better decision making process by discovering what you like and don't like. |
which part of manhattan :p |
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| kid nyce |
| quote: | Originally posted by verndogs
which part of manhattan :p |
Any based on those pros/cons
the rest should be obvious... |
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| verndogs |
| quote: | Originally posted by kid nyce
Any based on those pros/cons
the rest should be obvious... |
so Inwood is more convenient than Astoria? |
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| TiTi |
| Don't forget the property taxes and CC/maintanence fees. Even if you buy, some places have $1000+ fees a month on top of your mortgage that is just going to someone elses pocket. So after you own it, you still pay $1000+ just like rent. In most places, rent usually includes utilities. Just something for you to think about. |
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| ctprincess |
| quote: | Originally posted by TiTi
Don't forget the property taxes and CC/maintanence fees. Even if you buy, some places have $1000+ fees a month on top of your mortgage that is just going to someone elses pocket. So after you own it, you still pay $1000+ just like rent. In most places, rent usually includes utilities. Just something for you to think about. |
yeah - my mortgage banker here in chicago says to estimate that the property taxes are 1% of purchase price and that the average condo fee is around $500. |
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