Only if I were 10 years older
My family bought a house in Brooklyn back in 2001, the price was “expensive” for them but with hard work they saved enough to afford it. Now the house is worth 3x as much. Sigh. How can someone in their mid 20’s afford a home in Brooklyn nowadays? Now even working hard and saving a…
My family bought a house in Brooklyn back in 2001, the price was “expensive” for them but with hard work they saved enough to afford it. Now the house is worth 3x as much. Sigh. How can someone in their mid 20’s afford a home in Brooklyn nowadays? Now even working hard and saving a lot wont get you anything… Sigh, I am just venting since I been looking for about 6 months now.
I don’t know what your price range is, but there are a fair number of two families for sale in Bushwick and Bed Stuy in the $400,000 to $500,000 range. Note that the “ask” price is not the “sell” price — expect to offer about 10 percent less. That said, the houses are typically in poor condition. However — everything we see is in poor condition. The $800,000 houses are not always better. In fact, sometimes they are worse. We have been looking for about nine months and have not found anything, but that’s partly because we have unusual layout requirements.
dosteoy – are you familiar with the fha process?
theklahy.. is it this one?
http://www.trulia.com/property/1077536010-334-Lincoln-Rd-Brooklyn-NY-11225
I usually drive around Sundays. Ive seen the place on Lincoln, its was 3 family. I think about 4,000 SF. The agent said rent is like 16-1700 per apt. each 3 BRs. When she showed it to me it was listed at 625. nice price drop.
I found a lot of listings when I was looking in western Crown Heights/eastern Prospect Heights for between 570 and 670 K. There is one house on Lincoln Place right off Rogers that is listed currently for 570K that needs some fixing up. Check out trulia.com and you can sign up for notifications of new listings. I find that realtors who are not corcoran or halstead actually have reasonable prices. Also, do drive bys with a zip car and write down phone numbers and call. If you are willing to do more leg work on the hunting, you’ll find better prices and properties.
$2,200 a month.*
Saving isnt an issue for me or my gf. We are pretty responsible, somewhat conservative with our spending but like to indulge once in a while. Between the 2 of us we save into an ING about 2$,200 a month. Not including 401k/203b. No credit card debt, just student loans. This is exactly what I am getting at. I/we Have a decent amount of cash saved, no “bad” debt, etc., and still cant just find a good buy.
Quit bellyaching quikazoid and come up with a plan. It is possible. But like most things in life it doesn’t come easy nor will it be handed to you (you’re also not entitled to it). My wife and I purchased a 3 family house in Greenpoint Brooklyn at the height of the bubble at the time we were making a hair less then 100K. We were able to save up the 10% down payment by living in a studio and “enjoying” a pretty austere lfestyle for 4 or 5 years. Minor lifestyle adjustments helped (ie. elimenating my 200 a week bar habit and brown baggin my lunch every day). It’s possible even with less money down if you go the FHA route.
I’m looking pretty much in Sunset Park, Park Slope, Gowanus, Prospect Lefferts Garden, Bay Ridge/Shore Rd. I’ve found some decent stuff in Sunset Park 2-3fam for 599. I found a property on 13th st for 450k but the house was worthless, its a demolition job. Obviously with my budget its hard to find in these areas. But Ill even consider some area in BedStuy or Crown Heights… But the properties I find are too much for whats being offered.