| Posted By |
Message |
| Pages: [1] 2 |
kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
|
update on our buying process
Hey Ladies,
I haven't been on for a while with the holidays and all, but I wanted to fill you in on how things are going.
Last night Greg from HSBC came to get us pre-approved. We are also looking into WAMU as well but to 100% honest HSBC came to us and moves a LOT faster. The WAMU broker needs us to drop off everything, then schedule an appointment which could take over 2 weeks.
It seems a 80/10/10 is in our best interest (even my father agrees because he is a real estate attorney and our attorney). We have way more than the 10% to put down, so it could be more, we'll see.
So now that we have a much better idea, we are looking this Friday with a realotor at some single family homes. We both loved the idea of townhouses, but the chance of us outgrowing it faster is greater. Plus the 3 bedrooms are at the peak. At least with the house we could have the option to dormer in the future. Here are the homes we are interested in. Let me know if you girls have been inside them.
We are really hoping to offer around 5-10% less depending on the condition, so ladies we should be straight.
I can't thank you enough for all your wise words and help you ladies have done for us.
1st house
just listed
#3
#4
no need to dormer, but high taxes
peak of our budget, but great house
|
Posted 1/4/07 9:16 AM  |
| |
|
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
Elbee
Zanzibar
Member since 5/05 10767 total posts
Name:
Me
|
Re: update on our buying process
Good Luck Kerry! 
|
| Posted 1/4/07 9:22 AM |
| |
|
kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
|
Re: update on our buying process
Posted by Elbee
Good Luck Kerry!
its so surreal, after over 6 months of looking, doing research, etc, its quite possible that would could be in our first home by April. I'm already looking forward to hosting Mother's Day.
We live with my parents right now, and yes its rent free, but we need our own space. I'm so greatful we didn't move into a Co-op after marriage like we discussed. After seeing how hard fellow girls are having trying to sell them, I couldn't imagine adding that.
I finally have an ease of mind. FINALLY!
|
| Posted 1/4/07 9:24 AM |
| |
|
PotofLuck06
Our Baby Boy Is Here!!!
Member since 11/06 13241 total posts
Name:
Betsy
|
Re: update on our buying process
Hey Kerry! Glad to hear that things are going well for you! HSBC is the best and def. are very quick!!! I can't help you with the houses cause I didn't look in the area, but just be careful with a house description of "very good" that I saw listed on one of those links. It means the house is not in the greatest of shapes! Diamond is the best, then Mint, then Excellent, then Good and all it's variations.
|
| Posted 1/4/07 9:26 AM |
| |
|
Elbee
Zanzibar
Member since 5/05 10767 total posts
Name:
Me
|
Re: update on our buying process
It's a stressful proccess. I'm glad you got some eye opening information. DH & I recently did too and started looking seriously because we were able to understand it the process a bit more. Once you get your head on straight, the looking becomes much more real!
Here's to hoping you host your first mother's day!!!!!
|
| Posted 1/4/07 9:28 AM |
| |
|
kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
|
Re: update on our buying process
Posted by PotofLuck06
Hey Kerry! Glad to hear that things are going well for you! HSBC is the best and def. are very quick!!! I can't help you with the houses cause I didn't look in the area, but just be careful with a house description of "very good" that I saw listed on one of those links. It means the house is not in the greatest of shapes! Diamond is the best, then Mint, then Excellent, then Good and all it's variations.
oh absolutely, the realtor on house #1 assured me that the roof was 5 years old, siding is 7 years and in the past 2 years they've got a new boiler and HW heater. We are seeing a batch of them this weekend (I have apt's up the gazoo). Thank goodness my DH is a carpenter because he notices the smallest errors in homes.
Thanks Betsy!!!!!!!!!!!!
|
| Posted 1/4/07 9:29 AM |
| |
|
SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
|
Re: update on our buying process
good luck! those houses look to be in great shape!
|
| Posted 1/4/07 9:30 AM |
| |
|
PotofLuck06
Our Baby Boy Is Here!!!
Member since 11/06 13241 total posts
Name:
Betsy
|
Re: update on our buying process
Posted by kerrycec03
Posted by PotofLuck06
Hey Kerry! Glad to hear that things are going well for you! HSBC is the best and def. are very quick!!! I can't help you with the houses cause I didn't look in the area, but just be careful with a house description of "very good" that I saw listed on one of those links. It means the house is not in the greatest of shapes! Diamond is the best, then Mint, then Excellent, then Good and all it's variations.
oh absolutely, the realtor on house #1 assured me that the roof was 5 years old, siding is 7 years and in the past 2 years they've got a new boiler and HW heater. We are seeing a batch of them this weekend (I have apt's up the gazoo). Thank goodness my DH is a carpenter because he notices the smallest errors in homes.
Thanks Betsy!!!!!!!!!!!!
HTH, Kerry!!!!!!! And if you do decide that one of these homes is for you - the house inspection will also clarify all the ifs, etc and specify what is in working order and efficiently. Ah, the joys of it all! 
Good luck and remember to take diligent notes on each house you visit. It will help at the end of the day after visiting so many that they won't get mixed up in your mind.
I want to hear all about the weekend on Sunday/Monday!!!!!
|
| Posted 1/4/07 9:44 AM |
| |
|
CouponKT
Our family is complete
Member since 6/06 16494 total posts
Name:
K
|
Re: update on our buying process
WOW KERRY!! These houses are so much better for the $ than what we looked at 3 years ago! We looked at a house for $275 and the realthor wouldn't even go inside - it was that bad!!
These houses are GREAT!!! I love the one you titled "just listed". That has a great kitchen and patio. I love that these houses have a backyard. I would do anything for a backyard!!!!!
GOOD LUCK and I mean that! You are so lucky to be in the buying market right now!!
p.s. There are a few for sale out here! 
|
| Posted 1/4/07 9:44 AM |
| |
|
kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
|
Re: update on our buying process
Posted by BabyCote2006
WOW KERRY!! These houses are so much better for the $ than what we looked at 3 years ago! We looked at a house for $275 and the realthor wouldn't even go inside - it was that bad!!
These houses are GREAT!!! I love the one you titled "just listed". That has a great kitchen and patio. I love that these houses have a backyard. I would do anything for a backyard!!!!!
GOOD LUCK and I mean that! You are so lucky to be in the buying market right now!!
p.s. There are a few for sale out here!
TOO FAR COMMUTE, but would love to have you as neighbors! I'm so excited Katie, this is finally really happening. Hopefully we can get them for around $250-$265K which is totally duable for monthly payments. Of course they are approving us for $300K, but we still need to eat!!
At least I'm staying in suffolk and have one of my best friends only 20-30 minutes away!! Now we gotta work at getting Kelly back and we'll eventually have our own mommy & me club!!!! hehe
|
| Posted 1/4/07 9:47 AM |
| |
|
chikita315
Love
Member since 8/06 7945 total posts
Name:
M-lo
|
Re: update on our buying process
Best of luck!
|
| Posted 1/4/07 9:51 AM |
| |
|
ODonnell
.
Member since 9/05 5983 total posts
Name:
|
Re: update on our buying process
It's great to see that there are still houses in good shape for under $300K in nice areas. Good luck
My personal choice would be the "Just Listed" or the last one that you say has high taxes (although they are pretty reasonable IMO). My choice is based primarily on property size, if you plan to expand.
|
| Posted 1/4/07 9:59 AM |
| |
|
kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
|
Re: update on our buying process
Posted by ODonnell
It's great to see that there are still houses in good shape for under $300K in nice areas. Good luck
My personal choice would be the "Just Listed" or the last one that you say has high taxes (although they are pretty reasonable IMO). My choice is based primarily on property size, if you plan to expand.
actually the last one isn't high taxes, its the 2nd to last which are 4K and even though the land is bigger, we don't want to stretch ourselves to thin. But thanks
|
| Posted 1/4/07 10:02 AM |
| |
|
ODonnell
.
Member since 9/05 5983 total posts
Name:
|
Re: update on our buying process
Posted by kerrycec03
Posted by ODonnell
It's great to see that there are still houses in good shape for under $300K in nice areas. Good luck
My personal choice would be the "Just Listed" or the last one that you say has high taxes (although they are pretty reasonable IMO). My choice is based primarily on property size, if you plan to expand.
actually the last one isn't high taxes, its the 2nd to last which are 4K and even though the land is bigger, we don't want to stretch ourselves to thin. But thanks
Sorry, that's the one I mean - 2nd to last. 100 x 100 is a nice size property if it's flat.
|
| Posted 1/4/07 10:06 AM |
| |
|
|
|
Re: update on our buying process
Posted by ODonnell
Posted by kerrycec03
Posted by ODonnell
It's great to see that there are still houses in good shape for under $300K in nice areas. Good luck
My personal choice would be the "Just Listed" or the last one that you say has high taxes (although they are pretty reasonable IMO). My choice is based primarily on property size, if you plan to expand.
actually the last one isn't high taxes, its the 2nd to last which are 4K and even though the land is bigger, we don't want to stretch ourselves to thin. But thanks
Sorry, that's the one I mean - 2nd to last. 100 x 100 is a nice size property if it's flat.
I was going to say the same thing that I would look at the property size if your DH is handy because with the smaller properties the resale value will stay the same, but if you buy a house on a bigger piece of property and then make some improvements you will make more for your money.
One thing that stands out in my mind that a realtor told me once, look at the houses around the one you are buying. If most of them have no dormers or extensions then dormer a house in that area will not get you enough money on a resale because the area does not warrant the price.
|
| Posted 1/4/07 10:57 AM |
| |
|
kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
|
Re: update on our buying process
Posted by bridget-n-jimmy
Posted by ODonnell
Posted by kerrycec03
Posted by ODonnell
It's great to see that there are still houses in good shape for under $300K in nice areas. Good luck
My personal choice would be the "Just Listed" or the last one that you say has high taxes (although they are pretty reasonable IMO). My choice is based primarily on property size, if you plan to expand.
actually the last one isn't high taxes, its the 2nd to last which are 4K and even though the land is bigger, we don't want to stretch ourselves to thin. But thanks
Sorry, that's the one I mean - 2nd to last. 100 x 100 is a nice size property if it's flat.
I was going to say the same thing that I would look at the property size if your DH is handy because with the smaller properties the resale value will stay the same, but if you buy a house on a bigger piece of property and then make some improvements you will make more for your money.
One thing that stands out in my mind that a realtor told me once, look at the houses around the one you are buying. If most of them have no dormers or extensions then dormer a house in that area will not get you enough money on a resale because the area does not warrant the price.
we have looked at other homes on the blocks and yes they almost all have dormers. My husband is handy, but not handy enough to do a dormer. Yes its more property, but keep in mind we are first time home buyers and that extra in taxes can hinder us further along. Also, with a larger lot comes more maintance fees which is a fact. We are totally still checking it out, but if that's the difference with star, its def. up there. We cannot afford to maintance a large lot either. We also are buying a house for ourselves, not just for resale which I think may be hard for some to understand and other 100% understand me. I know resale is so important, hence why school district matters most to me, more than anything a good school district will help to maintain your value as too location and none of these homes are on a main road or off one (ie a couple of streets in). That being said, yes a larger lot can pay off, but lets say you expand on a house with taxes at $4300 now, well with an expansion who knows how high your taxes will go to. We are just trying to not be one of those couples living beyond there means. We are starting out and yes the 4 bedroom house on a large lot wouldn't need to be expanded, that home is the one that needs the most expensive work to begin with (ie it hasn't be updated at all).
|
| Posted 1/4/07 11:15 AM |
| |
|
tabrtm
LIF Adult
Member since 10/06 1314 total posts
Name:
|
Re: update on our buying process
Good luck!
|
| Posted 1/4/07 11:35 AM |
| |
|
|
|
Re: update on our buying process
Posted by kerrycec03
Posted by bridget-n-jimmy
Posted by ODonnell
Posted by kerrycec03
Posted by ODonnell
It's great to see that there are still houses in good shape for under $300K in nice areas. Good luck
My personal choice would be the "Just Listed" or the last one that you say has high taxes (although they are pretty reasonable IMO). My choice is based primarily on property size, if you plan to expand.
actually the last one isn't high taxes, its the 2nd to last which are 4K and even though the land is bigger, we don't want to stretch ourselves to thin. But thanks
Sorry, that's the one I mean - 2nd to last. 100 x 100 is a nice size property if it's flat.
I was going to say the same thing that I would look at the property size if your DH is handy because with the smaller properties the resale value will stay the same, but if you buy a house on a bigger piece of property and then make some improvements you will make more for your money.
One thing that stands out in my mind that a realtor told me once, look at the houses around the one you are buying. If most of them have no dormers or extensions then dormer a house in that area will not get you enough money on a resale because the area does not warrant the price.
we have looked at other homes on the blocks and yes they almost all have dormers. My husband is handy, but not handy enough to do a dormer. Yes its more property, but keep in mind we are first time home buyers and that extra in taxes can hinder us further along. Also, with a larger lot comes more maintance fees which is a fact. We are totally still checking it out, but if that's the difference with star, its def. up there. We cannot afford to maintance a large lot either. We also are buying a house for ourselves, not just for resale which I think may be hard for some to understand and other 100% understand me. I know resale is so important, hence why school district matters most to me, more than anything a good school district will help to maintain your value as too location and none of these homes are on a main road or off one (ie a couple of streets in). That being said, yes a larger lot can pay off, but lets say you expand on a house with taxes at $4300 now, well with an expansion who knows how high your taxes will go to. We are just trying to not be one of those couples living beyond there means. We are starting out and yes the 4 bedroom house on a large lot wouldn't need to be expanded, that home is the one that needs the most expensive work to begin with (ie it hasn't be updated at all).
I see were you are coming from but even though you do not see yourself selling anytime soon, sometimes circumstances change long term plans (job relocation, layoff, outgrowing home, etc..).
Also are the homes with dormers on the same size lots? Are they going for the same amount it would cost you to add the dormer + the price of the cheaper homes?
Message edited 1/4/2007 11:52:29 AM.
|
| Posted 1/4/07 11:50 AM |
| |
|
CaMacho
Sisters :)
Member since 7/06 15112 total posts
Name:
Jess
|
Re: update on our buying process
Awesome Kerry!!!!!!
How are the schools in ronkonkoma and how far is the commute to NYC on the LIRR? TIA!
|
| Posted 1/4/07 11:58 AM |
| |
|
MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
|
Re: update on our buying process
good luck Kerry! you'll get there soon!
|
| Posted 1/4/07 12:00 PM |
| |
|
kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
|
Re: update on our buying process
Posted by CaMacho
Awesome Kerry!!!!!!
How are the schools in ronkonkoma and how far is the commute to NYC on the LIRR? TIA!
The schools are either Sachem or Connequot which we are so happy with (both a good school district).
The commute is about 1.25 hour peak. Non-peak is more like 1.6 hour train ride. We just cannot afford Nassau and the homes that are in the low 300's have over 6K in taxes so this is the best area financially for an area we'd be comfortable in. We are 1 station closer now and they are only 5 minutes apart, same zone so no increase in LIRR fee (zone 10).
|
| Posted 1/4/07 12:00 PM |
| |
|
bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
|
Re: update on our buying process
i like #2 and #4. In my experience, houses that are listed as "very good" really aren't. They are more like "fair." I've even seen homes listed as excellent that were in poor shape.
Good luck!
|
| Posted 1/4/07 1:38 PM |
| |
|
mskimmy98
My twins are one!!!
Member since 5/05 2540 total posts
Name:
Kimberly
|
Re: update on our buying process
Good luck... enjoy it... it is fun and exciting
|
| Posted 1/4/07 2:05 PM |
| |
|
nov04libride
big brother <3
Member since 5/05 14672 total posts
Name:
Me
|
Re: update on our buying process
I live near the 5th one (high taxes). It does not look good from the outside, and the lot is very strange--next to a very large house that would take up most of a normal yard, so the yard is very strangely shaped. It's on a corner and the house next to it is very crowded. It's been on the market forever though.
The fourth one looks like it is right next to a school--DH and I avoid ones that close because of traffic and buses.
I like the location of the 5th one best, but it is not in good shape.
The last one looks like it is right off of the LIE service road.
The maps can be misleading though--I haven't seen any in person other than the one with high taxes.
I live in the area and really like it.
Message edited 1/4/2007 3:09:32 PM.
|
| Posted 1/4/07 2:43 PM |
| |
|
kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
|
Re: update on our buying process
Posted by nov04libride
I live near the 5th one (high taxes). It does not look good from the outside, and the lot is very strange--next to a very large house that would take up most of a normal yard, so the yard is very strangely shaped. It's on a corner and the house next to it is very crowded. It's been on the market forever though.
The first house is right off of Terry Road (CR 16) which is a very busy/major street.
The second one is right off of Smith, which is also very busy (kind of like Hawkins).
Third one right off of Moriches, very busy road.
The fourth one looks like it is right next to a school--DH and I avoid ones that close because of traffic and buses.
I like the location of the 5th one best, but it not in good shape.
The last one looks like it is right off of the LIE service road.
well I'm extremely familiar with the area and its not Terry Road, its actually Portion Road over there, but anyhow being off Portion wouldn't bother us and Smith isn't as busy as Hawkins and we don't mind being near a school, we actually perfer it because its nice and convinent for our purposes. Luckily knowing the area very well helps out because this is the area of Ronk/Lake we wanted because its close to the LIRR which is extremely important to us. We'll see, I'll keep you posted.
Man this site is 50/50......
|
| Posted 1/4/07 2:55 PM |
| |
|
| Pages: [1] 2 |
