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Random question about living on LI (poll included)
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hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
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Re: Random question about living on LI (poll included)
Posted by Brittny817
I WISH I bought something, even a condo in LI or Queens when I got out of college, rather than living in NYC paying ridiculous rents. I wasted SO MUCH $$$ over the past 10 years. 
We don't have any kids and paid for a big wedding ourselves in May so it's hard to say. Combined we are in the $180-$200K area and still can't afford a house on LI. We want at least 100K cash to put down so we don't get stuck with a $4000 a month mrgtg payment. We are saving as much as we can and hope to start looking to buy this spring 
It really is sad. We were VERY lucky to get in when we did. We wouldn't be able to get a house now.
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Posted 9/28/07 10:49 AM  |
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ILJ619
LIF Adult
Member since 6/06 1985 total posts
Name:
Irene
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Re: Random question about living on LI (poll included)
I have to agree that it is all relative. I have 2 friends that just moved out of LI. They had decent homes here and were doing well but they liked fancy clothes for the kids, fancy cars etc. I cut corners where I can and we're comfortable because certain things are not as important to me. I'd rather live poorly and save richly  but that's just me so you have to just figure out what things matter to you most and what you are willing to sacrifice.
If it helps I voted 130-160K. We have 2 cars 1 paid off, 1 DD (we pay for childcare so thats a factor to consider), 1 cat and a big mortgage for a decent sized cape.
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| Posted 9/28/07 12:02 PM |
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Alli06
Baby #3 coming this June
Member since 8/05 6721 total posts
Name:
A
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Re: Random question about living on LI (poll included)
All I can say is that I'm in a lot of trouble when people are saying that they are making or need to make 190k to 200k to afford a home on LI. My DH and I don't make nearly that much. I feel like we would be living the good life with 200k a year. I can't imagine making that much and not being able to afford a 3-4k mortgage payment. I guess if you had a mortgage payment of over 5k, then 200k wouldn't be that much.
There are a million different factors, to ones opinion on "living comfortably", I just wanted to know overall what people thought.
I voted for 130-160k figuring that would be a good amount.
Message edited 9/28/2007 12:42:38 PM.
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| Posted 9/28/07 12:33 PM |
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MrsStein
LIF Adolescent
Member since 9/05 692 total posts
Name:
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Re: Random question about living on LI (poll included)
For me and my DH, living comfortably means $200k/year.
Totally depends on what you think is a necessity. For us, my mani-pedis and DH's Jets season tickets are necessities. Cut those out, we'd have a lot more $$.
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| Posted 9/28/07 12:38 PM |
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mikeswife06
Drama Momma
Member since 9/06 9947 total posts
Name:
Anne
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Re: Random question about living on LI (poll included)
Posted by hazeleyes33
Posted by mikeswife06
[just cause you *could* doesnt mean you *should*.
(not you personally- the general "you"  )
Exactly, being able to afford the monthly payment doesn't REALLY mean you can afford it. It means you can afford the MONTHLY payment.
ETA: By that I don't mean a mortgage I mean monthly payments for everything. New TV= $2000 plasma from Best Buy on a new card with no interest for 12 months.  Just save the $2000 you will be a lot safer in the long run, IMO. My husband and I avoid doing things like that and it allowed us to buy a house on LI making less than $100 K
I have to disagree with the 0% card though. We have done this for 14 years with furniture and it has always worked out great. I have NEVER paid the interest though and if you (not you in particular) are the type of person who can not save, then it is not for you. We save each week and are able to pay down the amount when due AND have the furniture now.
Oh totally. I have taken advantage of it too. My computer crashed I NEEDED one and got a BB 0% interest and paid it off in like 4 months. I was referring more to the concept. Also poeple accepting debt as a way of life is okay inregards to mortgages and car payments...maybe...but most people think debt is acceptable for luxories and I disagree with that. That's all I meant. 
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| Posted 9/28/07 5:01 PM |
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MrsKelly
just hangin' around...
Member since 11/06 6305 total posts
Name:
Krista
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Re: Random question about living on LI (poll included)
i would say i grew up in an upper middle class family in a nicer area of suffolk county. normal sized house (4 bedrooms, 2 baths, full basement etc) on about 1/4acre of property with an inground pool. it was my parents, myself and i have 2 siblings. we lived comfortably, had 3 cars, went on nice family vacations 1-2x a year, could afford all the extras and my parents must have saved because they have done quite a bit for all their children/grandchildren. my mother worked part-time, my father full time and i KNOW my mom made about 50k a year and my dad prob 110k a year, so i voted 130-160k a year.
eta-i have no prob saying that right now, combined, dh & i make about 100k a year and aren't necessarily struggling, but def living paycheck to paycheck.
Message edited 9/28/2007 5:46:11 PM.
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| Posted 9/28/07 5:42 PM |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Re: Random question about living on LI (poll included)
Posted by MrsKelly
i would say i grew up in an upper middle class family in a nicer area of suffolk county. normal sized house (4 bedrooms, 2 baths, full basement etc) on about 1/4acre of property with an inground pool. it was my parents, myself and i have 2 siblings. we lived comfortably, had 3 cars, went on nice family vacations 1-2x a year, could afford all the extras and my parents must have saved because they have done quite a bit for all their children/grandchildren. my mother worked part-time, my father full time and i KNOW my mom made about 50k a year and my dad prob 110k a year, so i voted 130-160k a year.
eta-i have no prob saying that right now, combined, dh & i make about 100k a year and aren't necessarily struggling, but def living paycheck to paycheck.
But I think this is not a good example, bc with those salaries you parents had combined with a mortagage payment for a house that cost a fifth of what a house costs now, it's like comparing apples to oranges. $160,000 for your parents when you were growing up, would be very different for today's times when houses cost $400,000 and a monthly mortgage payment with taxes is $3000 per month.
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| Posted 9/28/07 5:58 PM |
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MrsKelly
just hangin' around...
Member since 11/06 6305 total posts
Name:
Krista
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Re: Random question about living on LI (poll included)
Posted by MrsFlatbread
Posted by MrsKelly
i would say i grew up in an upper middle class family in a nicer area of suffolk county. normal sized house (4 bedrooms, 2 baths, full basement etc) on about 1/4acre of property with an inground pool. it was my parents, myself and i have 2 siblings. we lived comfortably, had 3 cars, went on nice family vacations 1-2x a year, could afford all the extras and my parents must have saved because they have done quite a bit for all their children/grandchildren. my mother worked part-time, my father full time and i KNOW my mom made about 50k a year and my dad prob 110k a year, so i voted 130-160k a year.
eta-i have no prob saying that right now, combined, dh & i make about 100k a year and aren't necessarily struggling, but def living paycheck to paycheck.
But I think this is not a good example, bc with those salaries you parents had combined with a mortagage payment for a house that cost a fifth of what a house costs now, it's like comparing apples to oranges. $160,000 for your parents when you were growing up, would be very different for today's times when houses cost $400,000 and a monthly mortgage payment with taxes is $3000 per month.
this is true, but i am also taking it from how dh & i are living now... "ok" with 100k a year, we'd be very comfortable, i think, with 160k a year - and we do have a 4 bedroom, 2 bathroom house on 1/3acre of property in a nice area of suffolk and 2 cars purchased in 2004. and we also go away 2x a year. so knowing what we are spending now and adding a little more comfort into the mix and a couple of kids, i still think 160 would be living well. anything higher, IMO would be living extra well.
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| Posted 9/28/07 6:02 PM |
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rojerono
Happiest.
Member since 8/06 13803 total posts
Name:
Jeannie
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Re: Random question about living on LI (poll included)
Posted by melijane
Haha show me a 250K house in LI in a decent school district( for my fake family of 4) and I'm there
Are you willing to settle for a co-op or a condo.. ? Because there are quite a few for under 250K out there in some pretty good school districts. And if you are handy and willing to put some hardwork and elbow grease in - there are a few houses in some decent school districts out there!
Everyone told me I would NEVER find a nice house for under 400K last year. We moved into a 4 bedroom, 2 bath house with a full finished basement and a nice backyard. In turnkey condition. In one of my selected school districts (Sayville). And we did it for under 400K.
So don't give up.
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| Posted 9/28/07 6:24 PM |
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itkocak
Member since 7/07 7639 total posts
Name:
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Re: Random question about living on LI (poll included)
Message edited 11/11/2011 7:56:54 PM.
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| Posted 9/28/07 6:32 PM |
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hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
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Re: Random question about living on LI (poll included)
Posted by imthekevinofcindyandkevin
Posted by MrsFlatbread
Posted by MrsKelly
i would say i grew up in an upper middle class family in a nicer area of suffolk county. normal sized house (4 bedrooms, 2 baths, full basement etc) on about 1/4acre of property with an inground pool. it was my parents, myself and i have 2 siblings. we lived comfortably, had 3 cars, went on nice family vacations 1-2x a year, could afford all the extras and my parents must have saved because they have done quite a bit for all their children/grandchildren. my mother worked part-time, my father full time and i KNOW my mom made about 50k a year and my dad prob 110k a year, so i voted 130-160k a year.
eta-i have no prob saying that right now, combined, dh & i make about 100k a year and aren't necessarily struggling, but def living paycheck to paycheck.
But I think this is not a good example, bc with those salaries you parents had combined with a mortagage payment for a house that cost a fifth of what a house costs now, it's like comparing apples to oranges. $160,000 for your parents when you were growing up, would be very different for today's times when houses cost $400,000 and a monthly mortgage payment with taxes is $3000 per month.
Just as an example of what Jaime is saying 40 years ago Cindy's grandparents had a 4 bedroom split ranch built in North Babylon for $16,000.00 that's right $16,000.00 now that house has been appraised for $500,000.00.
Crazy but true.
We bought my parents home they built for $28,000. We bought it for $110,000 and now I can sell it for close to $400,000.
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| Posted 9/28/07 8:03 PM |
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