Co-Op vs Home

DH and I currently have been lving in our co-op for about 1.5 years- (1 br. in Great Neck, we work in Queens so it's a reasonable commute)...recently we've been looking in Suffolk for houses....long story short- we found some we like.

I'm SCARED, b/c I like to always just play it safe, and DH is more of a go-getter.

But I've been crunching the numbers and I spend about 4K now in our co-op/month!

Crunching #'s of the place we like AND the fact we could rent the bottom apt, it would basically be the same amount spent per month...we'd just not go out to dinner weekly anymore


I really would appreciate some feedback from ppl with experience.....does this all sound do-able to move?

If there was a "chicken" icon, I'd be using it right now BTW

Message edited 8/24/2009 1:18:39 PM.

Re: Co-Op vs Home

you never want to end up "house broke"
so make sure you can safely afford the house and i say go for it!!!!!

but i personally have never been a fan of co-ops, i live having a house that is all mine

Re: Co-Op vs Home

we just sold our 1 bedroom co-op and we plan on buying a house hopefully in the near future. This was our reasoning 1) we want to start a family; and 2) we can actually afford a house now that the prices have come down tremendously. We bought our co-op 5 years ago and there was no way we can afford a house in LI at that point but now we can so it makes sense to sell the co-op and buy a house. I'm not sure if this was rambling or helping but good luck in whatever you choose to do.

Re: Co-Op vs Home

thanks

I just feel like we are spending the amount the house would be and we will both be making much more within the next two years...our plan would be to rent the bottom for 2-3 years then remodel the bottom and use it for more living space for us