| Posted By |
Message |
JenG
Love my little boy!
Member since 6/05 2489 total posts
Name:
Jen
|
What is your opinion in this......
my husband got a job with the city, not such great pay for the next 4 years but a great pension. we are inheriting money and thinking about buying a coop in queens, for about $250k (where we are from) now here is the problem....since we are inherting a large sum of money, we can buy a house in suffolk and have a small mortgage, or blow most of the money on a coop. if we move to suffolk, my DH can't keep his job with the city. so he was thinking to quit his city job and get a job out on the island. what would you do in this situation?? i think we should get the house and he is kinda thinking the same way. this is so confusing.
|
Posted 8/1/05 11:15 AM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
DRMom
Two in Blue
Member since 5/05 20223 total posts
Name:
Melissa
|
Re: What is your opinion in this......
Why can't he keep the job? Plenty of people commute from Suffolk.
|
| Posted 8/1/05 11:29 AM |
| |
|
JenG
Love my little boy!
Member since 6/05 2489 total posts
Name:
Jen
|
Re: What is your opinion in this......
Posted by melijane
Why can't he keep the job? Plenty of people commute from Suffolk.
his job requires him to live in the 5 boros or nassau only. the job checks up on you and where you are living.
|
| Posted 8/1/05 11:33 AM |
| |
|
dpli
Daylight savings :)
Member since 5/05 13973 total posts
Name:
D
|
Re: What is your opinion in this......
I would consider how easy it is for him to find another job. I know that my DH is looking to change jobs and it has been really difficult for him to find one that he likes that would pay what he makes now.
|
| Posted 8/1/05 12:42 PM |
| |
|
DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
|
Re: What is your opinion in this......
Whats wrong with the co-op?
Since you will be doing a cash deal (no mortgage)... you can probably get a very good deal by offering less than asking on most properties.
|
| Posted 8/1/05 2:23 PM |
| |
|
JenG
Love my little boy!
Member since 6/05 2489 total posts
Name:
Jen
|
Re: What is your opinion in this......
Posted by DjPiLL
Whats wrong with the co-op?
Since you will be doing a cash deal (no mortgage)... you can probably get a very good deal by offering less than asking on most properties.
nothing is wrong with a coop, maybe just kinda small that's all.
|
| Posted 8/1/05 2:38 PM |
| |
|
nov04libride
big brother <3
Member since 5/05 14672 total posts
Name:
Me
|
Re: What is your opinion in this......
You found houses in Suffolk for less than the price of the coop?
|
| Posted 8/1/05 2:53 PM |
| |
|
JenG
Love my little boy!
Member since 6/05 2489 total posts
Name:
Jen
|
Re: What is your opinion in this......
Posted by nov04libride
You found houses in Suffolk for less than the price of the coop?
not cheaper, but in the low 3's
|
| Posted 8/1/05 2:57 PM |
| |
|
Boobobunny
Live in the Present
Member since 5/05 3572 total posts
Name:
Dannielle
|
Re: What is your opinion in this......
if you can own a house with little to no mortgage....well I say go for it.
|
| Posted 8/1/05 3:03 PM |
| |
|
MrsJ
I love my Katie Bug
Member since 5/05 11357 total posts
Name:
Kathy
|
Re: What is your opinion in this......
I would buy the house and take out a small mortgage.
I live in Suffolk and work in Manhattan - my commute isnt really that bad and my salary makes it worth it.
|
| Posted 8/1/05 3:49 PM |
| |
|
Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
Name:
|
Re: What is your opinion in this......
It really comes down to whether or not DH can effectively change jobs to one without a residency requirement. Can he get a different job in NYC or anywhere on long island doing what he does? Does he want to do this? That seems to be the bigger decision, not whether or not you should buy in Queens or Suffolk.
|
| Posted 8/3/05 11:55 AM |
| |
|
dengal
Dad of Twins
Member since 5/05 1385 total posts
Name:
The 80's Man
Let's Go Mets!
|
Re: What is your opinion in this......
Can he get a similiar job out on LI? If not, you could also buy the Co-Op and then live there for 4 years. You could then sell it and move further East.
|
| Posted 8/3/05 4:51 PM |
| |
|
Gertyrae
Peace out Homies!
Member since 5/05 20046 total posts
Name:
Gerty ®
|
Re: What is your opinion in this......
Maybe you could look in Nassau...get a fixer upper for the mid-300's and work it that way. The pension is a big thing, you will have that for many years after retirement. Even if you had a bigger mortgage, it might be worth it.
|
| Posted 8/3/05 11:11 PM |
| |
|
JenG
Love my little boy!
Member since 6/05 2489 total posts
Name:
Jen
|
Re: What is your opinion in this......
Posted by kelleherkm
I would buy the house and take out a small mortgage.
I live in Suffolk and work in Manhattan - my commute isnt really that bad and my salary makes it worth it.
the job requires him to live in the 5 boros, that's the problem
|
| Posted 8/4/05 9:20 AM |
| |
|
Kelly
LIF Adolescent
Member since 5/05 681 total posts
Name:
This is it
|
Re: What is your opinion in this......
Posted by JenG
and thinking about buying a coop in queens, for about $250k
Seriously?  Where?  
|
| Posted 8/4/05 1:41 PM |
| |
|
Sassyz75
Turning a new page
Member since 5/05 9731 total posts
Name:
Dina
|
Re: What is your opinion in this......
I would say he should keep his job.
If I knew then what I knew now I would make sure I got some type of city or state job with a pension.. no jobs in the private sector have pensions anymore...
|
| Posted 8/4/05 2:19 PM |
| |
|
JenG
Love my little boy!
Member since 6/05 2489 total posts
Name:
Jen
|
Re: What is your opinion in this......
coop was in bayside, but we lost the deal now. oh well. sometimes i can't see spending so much on a coop!! my friend bought a 2 family house in franklin square in 1999 and she paid $219k. and here we are looking at coops for $250's, it's sick
|
| Posted 8/4/05 2:23 PM |
| |
|
Moehick
Ready for the sun!
Member since 5/05 30339 total posts
Name:
Properly perfect™
|
Re: What is your opinion in this......
Sounds like he is a city worker? I say if he is keep the job, the benefits, pension are hard to come by and the pay will increase. There are co-ops available by us, we are just over the border of Nassau in Queens.....and I feel your pain, because of DH's job we can only live in the 5 boros, Nassau or Westchester
|
| Posted 8/4/05 8:01 PM |
| |
|
dooodles
When you wish upon a star
Member since 5/05 11997 total posts
Name:
Because 2 people fell in love
|
Re: What is your opinion in this......
Since there is no guarantee he can get a job in Suffolk right now, why not wait a little while and see if he can find one before making that decision?
|
| Posted 8/7/05 9:29 AM |
| |
|
skew
LIF Adult
Member since 5/05 6794 total posts
Name:
|
Re: What is your opinion in this......
due to the competitive job market i would suggest buying the co-op. he should gain the experience and then if desired, move on in a couple of years.
|
| Posted 8/7/05 10:28 AM |
| |
|
05mommy09
Family of 5!
Member since 5/05 15364 total posts
Name:
<3 Mommy <3
|
Re: What is your opinion in this......
I say if he can get a job in suffolk with all the simialr benefits...go for the house...
If not....the coop is fine!
|
| Posted 8/7/05 10:50 AM |
| |
|
dpli
Daylight savings :)
Member since 5/05 13973 total posts
Name:
D
|
Re: What is your opinion in this......
Posted by JenG
[coop was in bayside, but we lost the deal now. oh well. sometimes i can't see spending so much on a coop!! my friend bought a 2 family house in franklin square in 1999 and she paid $219k. and here we are looking at coops for $250's, it's sick
I'm sure that's true, but a single family house in Franklin Square now would cost you about $400-500k, I am sure a 2 family house would be evenmore than that. The market is waaaay higher than it was in 1999. 
|
| Posted 8/7/05 11:27 AM |
| |
|
