Convenience vs. owning a house

unexpected

Fri, Jul 12 2019, 12:03 am

In BP it is cheaper to rent than pay the mortgage monthly. We have crunched the numbers many times. Also, the houses are old, so if you own there are always lots of expenses popping up. I get that ppl want to own something, but buying in Brooklyn is not a good financial decision for regular self-supporting people.

amother

Seafoam

Fri, Jul 12 2019, 10:02 am

It's not only buying a house. We moved out of NY (Queens not Brooklyn) because we were in a tiny apartment and couldn't fit nor afford a slightly bigger one. The cost of living in NY is astronomical.
We didn't own initially after leaving NY. Yes you lose conveniences which is a pain, but the quality of my life has been much better. My kids have breathing space and outdoor space. Life is slower paced and simpler.
(And it didn't hurt that I bought a 5 bedroom 4 bath house a few years later for a little over $200k)

amother

Gold

Fri, Jul 12 2019, 10:10 am

amother [ Seafoam ] wrote:

Where?

amother

Plum

Fri, Jul 12 2019, 10:36 am

Op, im very similar to you in that I own a coop in ny and love the city life and love the convenience of being able to walk places/stores close by...etc.

There are pros and cons to everything and if I were to sell my coop, I could buy a much bigger living space, house oot. But, then my commute would be ridiculously long and I wouldnt leave my job. I dont understand how ppl just leave and get new jobs but maybe their job is not as well paying??? However, for me, spending more time commuting is too exhausting and since I cant afford newer cars I would be afraid of breaking down if I had to commute and drive to the store all the time.

My dh does want to move far away to a big house but knows that with our jobs now, we cant move. My boss lived far and left his house at 5 am and got home late everyday bec he lived far away. Its not worth it, but at the same time, my coop is a drop smaller than tiny 3 bedroom homes here in ny. And, my coop has grass area for my kids to play(although its not private).

I understand your "side" and relate but I do also understand why your dh wants to move and get a house. Financially, im curious if all the maintenance fees of a coop would be more than house expenses (after mortgage is paid). What I mean is if im paying 12k a yr in maintenance fees, well, for someone who owns a house with their mortgage paid off, will they be paying 12k a yr in expenses(in a low property tax area).??

Anyway, you and your dh both have different views on this, so I wish you hatzlacha in coming to an agreement that works for both of you.

amother

Seafoam

Fri, Jul 12 2019, 1:27 pm

Quote:

Where

Baltimore

I also work for a company that has offices all over, so I didn't have to leave my job, I transferred to their Baltimore location. My husband was going to leave his job, but they loved him and offered him to work remotely and come in a few times a year to show face.
B"H it worked for us, but yes parnasa is a big one.

amother

Burgundy

Fri, Jul 12 2019, 4:19 pm

That's funny. I consider the car life to be a convenience I greatly miss in NY. For me it's a lot easier to drive to whatever store I want, fill the car up, and drive it all home, than in NY where I'm limited to public transport and what I can carry in one shot.