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Wwyd
Option 1:
Current house is in a good neighborhood. Decent schools. Good yard, close to trains/parkways. South shore Nassau, so super congested at basically all times.
Gut and renovate house in two phases. In the end (about 5 years between the phases), house would be a dream home, although not huge. Designed every single detail down to the hinges. Each phase would take about 6 months.
15 year mortgage plus heloc.
Option 2:
Move to an amazing area surrounded by nature. Giant property. Incredible schools and amenities come with the home. As a result, further from train/parkways (and family-40 minutes instead of 15). North shore Suffolk.
Home is in very well maintained shape, but not the style of your dream home. However, with mostly cosmetic upgrades, would be very presentable. House is also huge-about 1.5 times the size your current house would be after renovations. The upgrades would take time though, and eventually all 4 baths would have to be completely redone to suit your style.
Would have to take out a 30 year mortgage.
I feel like option 1 I would love the house and be happy with the land/area/etc.
Option 2 I would love the land/area/amenities and be happy with the house.
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Posted 1/1/20 2:26 PM  |
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Long Island Weddings
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RainyDay
LIF Adult
Member since 6/15 3990 total posts
Name:
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Wwyd
Option 1
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| Posted 1/1/20 2:51 PM |
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RainyDay
LIF Adult
Member since 6/15 3990 total posts
Name:
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Wwyd
Message edited 1/1/2020 2:52:05 PM.
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| Posted 1/1/20 2:51 PM |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
Name:
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Re: Wwyd
If it were my decision, I'd DEFINITELY go with the second option. No question. Plus, I LOVE the north shore of Suffolk, we had a house in Stony Brook. Nassau is just WAY too congested for my taste.
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| Posted 1/1/20 3:44 PM |
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LuckyStar
LIF Adult
Member since 7/14 7274 total posts
Name:
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Wwyd
If either of you commute to the city, option 1. If not, option 2.
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| Posted 1/1/20 3:51 PM |
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M514
Hi
Member since 8/10 6011 total posts
Name:
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Wwyd
What would your commute look like fir each option? I’m leaning towards option 1
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| Posted 1/1/20 4:03 PM |
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mommy2be716
LIF Adult
Member since 1/16 2921 total posts
Name:
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Wwyd
option 1- nassau typically is better resale than suffolk, most neighborhoods anyway. If you're in a nice neighborhood with good schools in nassau AND you are close to the train it's no question.
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| Posted 1/1/20 4:16 PM |
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ChilisWife
God Bless America
Member since 5/05 3572 total posts
Name:
A.K.
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Re: Wwyd
That is a difficult choice for sure. Either way it sounds like you will be in a construction zone for a bit. I am a huge fan of renovating if you love your neighborhood, but there are definitely other factors. For example, I know it is nice to have more space but do you NEED it? Do your kids have bedrooms and are you done having kids? Do you commute to NYC? The 15 v. 30 year mortgage wouldn't be a factor for me personally.
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| Posted 1/1/20 4:19 PM |
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w8andsee
LIF Adult
Member since 10/09 1193 total posts
Name:
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Re: Wwyd
What are the amenities that come with home #2 that you don't have with #1?
Are you an outdoorsy family? Do you think your quality of life would be better with home #2?
When the kids are older, are you going to want to downsize?
When you retire, are you going to have to carry a mortgage with house #2?
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| Posted 1/1/20 4:22 PM |
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Re: Wwyd
Posted by M514
What would your commute look like fir each option? I’m leaning towards option 1
I don’t work. Dh would be commuting about 20 minutes more each way.
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| Posted 1/1/20 5:42 PM |
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Re: Wwyd
Posted by ChilisWife
That is a difficult choice for sure. Either way it sounds like you will be in a construction zone for a bit. I am a huge fan of renovating if you love your neighborhood, but there are definitely other factors. For example, I know it is nice to have more space but do you NEED it? Do your kids have bedrooms and are you done having kids? Do you commute to NYC? The 15 v. 30 year mortgage wouldn't be a factor for me personally.
It would be gutting an entire floor at a time for option 1
Option 2 would be mostly cosmetic upgrades.
Option 1 would be 4 beds 2.5 baths fully done, option 2 would be 4 beds, 4 baths plus a playroom
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| Posted 1/1/20 5:44 PM |
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Re: Wwyd
Posted by w8andsee
What are the amenities that come with home #2 that you don't have with #1?
Are you an outdoorsy family? Do you think your quality of life would be better with home #2?
When the kids are older, are you going to want to downsize?
When you retire, are you going to have to carry a mortgage with house #2?
Two private beaches, mooring rights, and we are an outdoors family. I take the kids hiking often, including to the parks that are close to the home.
No mortgage when we retire-even at 30 years it would be paid off before we were 65.
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| Posted 1/1/20 5:46 PM |
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Re: Wwyd
Posted by mommy2be716
option 1- nassau typically is better resale than suffolk, most neighborhoods anyway. If you're in a nice neighborhood with good schools in nassau AND you are close to the train it's no question.
It’s a Suffolk town with excellent resale.
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| Posted 1/1/20 5:46 PM |
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MichLiz213
Life is Good!
Member since 7/07 7979 total posts
Name:
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Re: Wwyd
Posted by Hofstra26
If it were my decision, I'd DEFINITELY go with the second option. No question. Plus, I LOVE the north shore of Suffolk, we had a house in Stony Brook. Nassau is just WAY too congested for my taste.
I agree with all of this.
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| Posted 1/1/20 5:55 PM |
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TTCwithHope
LIF Infant
Member since 4/10 297 total posts
Name:
M
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Re: Wwyd
Option 1 if you truly like the house. The 15 vs 30 year mortgage is my factor. Who knows what situations life may bring, you may be very happy in 20 years to have the mortgage burden off your back. More $ available to spend on trips to see children and/or grandchildren, disability, early retirement.....I tend to worry about everything.
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| Posted 1/1/20 6:43 PM |
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longislemom
LIF Adult
Member since 8/06 912 total posts
Name:
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Wwyd
Option 2
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| Posted 1/1/20 6:43 PM |
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ChilisWife
God Bless America
Member since 5/05 3572 total posts
Name:
A.K.
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Re: Wwyd
Posted by mommywantsababy
Posted by ChilisWife
That is a difficult choice for sure. Either way it sounds like you will be in a construction zone for a bit. I am a huge fan of renovating if you love your neighborhood, but there are definitely other factors. For example, I know it is nice to have more space but do you NEED it? Do your kids have bedrooms and are you done having kids? Do you commute to NYC? The 15 v. 30 year mortgage wouldn't be a factor for me personally.
It would be gutting an entire floor at a time for option 1
Option 2 would be mostly cosmetic upgrades.
Option 1 would be 4 beds 2.5 baths fully done, option 2 would be 4 beds, 4 baths plus a playroom
We went through this decision 5 years ago and decided to renovate. At the time, on paper, all the factors pointed towards moving into a bigger house being a better option. But in our hearts, we wanted to stay and so we did. We are very happy with our decision. It seems based on what you wrote that Option #2 may be better for you and it's nice to have opinions from everyone but I think ultimately you are the ones that have to be excited and comfortable about your decision.
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| Posted 1/1/20 7:01 PM |
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mommy2be716
LIF Adult
Member since 1/16 2921 total posts
Name:
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Re: Wwyd
Posted by mommywantsababy
Posted by mommy2be716
option 1- nassau typically is better resale than suffolk, most neighborhoods anyway. If you're in a nice neighborhood with good schools in nassau AND you are close to the train it's no question.
It’s a Suffolk town with excellent resale.
hmmm then i'm not sure... after reading your other responses and seeing it's going to be 2 baths and a playroom larger than your option 1 home, maybe I would go with option 2. Having mooring rights is pretty nice.
We have friends in port jeff with a boat and a beautiful home and it's definitely something you cant have in nassau. If it's only a 20 min commute difference it's not that bad...
having a 15 year mortgage is a huge plus to option 1, but if option 2 will be paid off before you're 65 then i would go for it. You can pre-pay a little over the years and shave off some time too
Message edited 1/1/2020 7:05:05 PM.
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| Posted 1/1/20 7:03 PM |
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Katareen
5,000 Posts!
Member since 4/10 7180 total posts
Name:
Katherine
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Wwyd
Keep in mind the taxes too...especially in a highly sought after district. We moved to Suffolk from Nassau and our taxes almost doubled despite people telling us that Suffolk taxes would be less.
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| Posted 1/1/20 7:36 PM |
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LuckyStar
LIF Adult
Member since 7/14 7274 total posts
Name:
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Re: Wwyd
Posted by mommywantsababy
Posted by M514
What would your commute look like fir each option? I’m leaning towards option 1
I don’t work. Dh would be commuting about 20 minutes more each way.
The train ride may be 20 mins longer but you need to consider the drive to the train, the parking situation at the station, the frequency of trains and delays. The Port Jeff line is notorious for delays.
I worked in Stony Brook for a short time and several of my coworkers (or their spouses) originally worked in the city. Every single one changed jobs because they never saw their kids.
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| Posted 1/1/20 9:27 PM |
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Re: Wwyd
Posted by LuckyStar
Posted by mommywantsababy
Posted by M514
What would your commute look like fir each option? I’m leaning towards option 1
I don’t work. Dh would be commuting about 20 minutes more each way.
The train ride may be 20 mins longer but you need to consider the drive to the train, the parking situation at the station, the frequency of trains and delays. The Port Jeff line is notorious for delays.
I worked in Stony Brook for a short time and several of my coworkers (or their spouses) originally worked in the city. Every single one changed jobs because they never saw their kids.
One of the first things we did was look at train times, but double checking I may have been slightly off.
Currently, in the morning, he leaves at 517, and takes a 530 train in, getting in at 614.
If we move, he would leave at 510, drive 20 min, get a 541 train in, and arrive at 638. So I guess it’s about 30 min in the morning, but we would be able to go in a bit later-right now there’s not a train that allows him to do that, so in his mind it’s really just changing from walking to the train to driving.
Coming home, the train would be 12-14 min longer, and a 20 minute commute home-there’s really not any traffic where we are looking. He would be home in the door by 630, and now he’s in the door around 6.
This is one of our big points of discussion though, bc he’s the one who loves the area even more than I do.
It would also be impossible for him to switch to an island job, so we would really be “stuck” unless we sold and moved again.
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| Posted 1/1/20 9:51 PM |
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Wwyd
I’m truly thankful for everyone’s comments-I’m obviously having a lot of trouble making this decision!
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| Posted 1/1/20 9:59 PM |
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thewinterone
You make me happy
Member since 5/05 2474 total posts
Name:
cause you are gray.
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Re: Wwyd
I would choose option 2.
Throwing as much as I could at the mortgage.
Less construction for my sanity.
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| Posted 1/1/20 10:24 PM |
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Aries14
Can't plan life...
Member since 8/08 2860 total posts
Name:
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Wwyd
Option 2. A bigger house with those amenities and only cosmetic work over a total reconstruction..
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| Posted 1/2/20 8:42 AM |
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PhyllisNJoe
My Box Is Broken
Member since 6/11 9145 total posts
Name:
Phyllis
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Re: Wwyd
As much as my first thought was #2. The more read responses, the more I’m leaning towards #1.
Reasons:
Commute. Think of rain and snow not just regular traffic
Depending on how old your kids are, how long will you need the extra playroom.
Keeping up with a house that’s that much bigger as years go on and you get older.
Speaking of older, you said you have family close by now ... if there are older relatives that may need you in upcoming years, being close as opposed to having to drive 20-30 minutes for shopping g trips, dr visits or helping around the house will be a lot harder than you think.
15 vs 30 year mortgage. You said it doesn’t matter but we never know what the future holds and having it paid off sooner than later is a huge blessing.
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| Posted 1/2/20 8:52 AM |
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