SO DISCOURAGED!!!

How is everyone affording to buy a home here on the island. I am so scared I feel like i will be living to just pay a mortgage. Anyone on here buy a foreclosure recently who could give me some info.

Re: SO DISCOURAGED!!!

We felt the same way we even started looking in other parts of the country. ...fast forward we are closing on our first home a week from today.

Get all of your financial info together, talk to an account or real estate broker or a mortgage broker to figure out what you can afford. We found out tht we could easily afford houses 50-70K more than we thought.

Figure out what you want, something that needs work? Move in condition? What is important to you big, small, # of bed/bath, location, schools...

We had specific criteria on # of beds & baths and minimum size of yard. We originally wanted Nassau County (as we both commute to NYC) By expanding our search area into western suffolk we found what we wanted.

Also remember that sellers do not always get their asking price and prices should fall a little as the summer ends and interest rates go up.

I truly felt it was impossible and flat out gave up for a while but in two weeks I'll be moved into a beautiful house and not in over my head as far as the mortgage goes.

Good Luck, you can do it!

Re: SO DISCOURAGED!!!

Yes we are also very discouraged with what we can can afford here on the Island.. and just spent the weekend in MaryLand looking for houses.. What we can get there for our money is Unbelievable!!!! Also the land taxes compared to here is Laughable with how low it is... We just might have to make the move at this point in our lives because I just don't think the Island is a place for us to make out of our money!

Re: SO DISCOURAGED!!!

We could NEVER afford a house now. We were so lucky to buy my parents house 9 years ago. Our mortgage, taxes AND insurance is less than a 2-bedroom apartment now!!