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amother




Powderblue


Post  Tue, Feb 05 2019, 8:56 am
amother wrote:
Chestnut Ridge or anywhere around Monsey is fine too. Just want to have a few neighbors so kids (and I). Open to buying on the outskirts if there are a couple other people too. Don't want to be the only one on the block, but doesn't need to be full. I just don't see paying more than 300 something, so pretty stuck. I work full time (have a degree) and will potentially take on another part time/supplemental job if the details work out, but kollel and not asking family for money (as well as other factors) doesn't lead to a 500k house! Or even 400k! I often wonder how so many in our situation get there! I guess this other thing we're dealing with that took a lot of our savings must be the difference. I just wish there were more affordable options for people that don't need a fancy house and would really fix it up themselves over time. Like a real kollel lifestyle type of house.

There are options. Not in NY. Come to Baltimore!!
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amother




Bisque


Post  Tue, Feb 05 2019, 8:59 am
amother wrote:
There are options. Not in NY. Come to Baltimore!!


Not the hijack the OP’s thread, but isn’t tuition more expensive in Baltimore than in Monsey? I feel like the expenses would even themselves out.
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amother




Powderblue


Post  Tue, Feb 05 2019, 9:25 am
amother wrote:
Not the hijack the OP’s thread, but isn’t tuition more expensive in Baltimore than in Monsey? I feel like the expenses would even themselves out.

People love to say this. But no, it doesnt even come close to evening out.

A house in the newest developments in Baltimore (county) would cost around $500k, but taxes are way less. Like, thousands a year less. In the older parts of Baltimore (more heimish), a home can be bought for $200-300k. My house is a semi detatched and we bought it a year ago for under $200k. Taxes are under $3,000 a year.

Tuition in all of the schools is in the neighborhood of $10k. I’ve paid tuition for my step kids in Monsey. I know what it is there and unless you are comparing the Chassidish schools in Monsey to the non chassidish schools in Baltimore, tuition was the same or MORE in Monsey.

The cost of food is very similar as well. Meat/chicken may be a dollar or two more but there are always sales.

Not sure how anyone can compare buying a $600k house and paying $12k in taxes a year to buying a $300k house and paying $4k in taxes a year, and say that it evens out.
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naturalmom5




 
 
 


Post  Tue, Feb 05 2019, 9:31 am
Maybe consider Lakewood or Jackson or Fallsburg
Monsey and Kollel always seemed like and oxymoron to me if you don't come from a very rich family

There are still many beautiful homes in Jackson for 150/225
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stillnewlywed




 
 
 


Post  Tue, Feb 05 2019, 9:36 am
naturalmom5 wrote:
Maybe consider Lakewood or Jackson or Fallsburg
Monsey and Kollel always seemed like and oxymoron to me if you don't come from a very rich family

There are still many beautiful homes in Jackson for 150/225


125/225????? Where is that?
We've looked at numerous homes in Jackson, and anything decent is minimum 250/300 and that is still very small and needs some work done.
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naturalmom5




 
 
 


Post  Tue, Feb 05 2019, 10:03 am
https://www.zillow.com/jackson-nj/

There is a house on Brewer Ridge for 220
It was just reduced
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amother




Coral


Post  Tue, Feb 05 2019, 10:37 am
Op I agree with u. I dont understand it because we cant understand since there are some pieces"" /information missing that you and I are not privy too. Even if I work 2 jobs and save up a lot of money, well with 6 kids and needing to pay tuition, tuition alobe would "eat " into savings. And, I do live very simply and still apply for small tuition reduction but how can I save for downpayment if I am asking for tution reduction???

In addituon, even if id pay very little down, then the problem is that I would need to be able to pay the higher mortgage bec the smaller downpayment means higher mortgage. I also worked all my yrs in highschool during summer and...but its not enough for a house bec I wouldnt be able to afford the higher mortgage each month.

The only solution is to buy a house far out like baltimore or...for 200k ...BUT MY JOB IS HERE!! and im still wondering how these rebbis/secretaries are buying 500kn up houses in new york/nyc????

But obviously there is something we dont know about their situation...

I agree with u op that the numbers dont add up bec with low salaries and 6 plus kids and paying full tuition... its impossible to be able to buy these houses and pay the mortgage(&taxes) each month even with nothing down.

I hope one day ill have enough money to buy a house but for now I guess hashem decided otherwise...(unless someone shares their secret....)
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amother




Sienna


Post  Tue, Feb 05 2019, 3:26 pm
amother wrote:
Op I agree with u. I dont understand it because we cant understand since there are some pieces"" /information missing that you and I are not privy too. Even if I work 2 jobs and save up a lot of money, well with 6 kids and needing to pay tuition, tuition alobe would "eat " into savings. And, I do live very simply and still apply for small tuition reduction but how can I save for downpayment if I am asking for tution reduction???

In addituon, even if id pay very little down, then the problem is that I would need to be able to pay the higher mortgage bec the smaller downpayment means higher mortgage. I also worked all my yrs in highschool during summer and...but its not enough for a house bec I wouldnt be able to afford the higher mortgage each month.

The only solution is to buy a house far out like baltimore or...for 200k ...BUT MY JOB IS HERE!! and im still wondering how these rebbis/secretaries are buying 500kn up houses in new york/nyc????

But obviously there is something we dont know about their situation...

I agree with u op that the numbers dont add up bec with low salaries and 6 plus kids and paying full tuition... its impossible to be able to buy these houses and pay the mortgage(&taxes) each month even with nothing down.

I hope one day ill have enough money to buy a house but for now I guess hashem decided otherwise...(unless someone shares their secret....)


We saved most before we had any kids! That's when I worked 3 jobs. Once I had my first child, I cut down to 2 jobs. I kept that for a few years at the same time DH worked. After my 3rd I gave up my second job and still have my one job while DH works at 2 jobs. We bought right after my 4th was born.
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amother




Ginger


Post  Tue, Feb 05 2019, 3:27 pm
amother wrote:
Op I agree with u. I dont understand it because we cant understand since there are some pieces"" /information missing that you and I are not privy too. Even if I work 2 jobs and save up a lot of money, well with 6 kids and needing to pay tuition, tuition alobe would "eat " into savings. And, I do live very simply and still apply for small tuition reduction but how can I save for downpayment if I am asking for tution reduction???

In addituon, even if id pay very little down, then the problem is that I would need to be able to pay the higher mortgage bec the smaller downpayment means higher mortgage. I also worked all my yrs in highschool during summer and...but its not enough for a house bec I wouldnt be able to afford the higher mortgage each month.

The only solution is to buy a house far out like baltimore or...for 200k ...BUT MY JOB IS HERE!! and im still wondering how these rebbis/secretaries are buying 500kn up houses in new york/nyc????

But obviously there is something we dont know about their situation...

I agree with u op that the numbers dont add up bec with low salaries and 6 plus kids and paying full tuition... its impossible to be able to buy these houses and pay the mortgage(&taxes) each month even with nothing down.

I hope one day ill have enough money to buy a house but for now I guess hashem decided otherwise...(unless someone shares their secret....)


I’m so glad someone understands me! 500,000 is the cheaper end of the houses . The condos in monsey are are starting average of 600,00+.
Whoever says you can buy for cheaper it’s not an option when ur family is already 8+ people cause those are small houses. And living in a dump is not an option.
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amother




Magenta


Post  Tue, Feb 05 2019, 6:07 pm
OP check out Dexter Park. It sounds just like what you're looking for.
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amother




Sienna


Post  Tue, Feb 05 2019, 10:08 pm
amother wrote:
I’m so glad someone understands me! 500,000 is the cheaper end of the houses . The condos in monsey are are starting average of 600,00+.
Whoever says you can buy for cheaper it’s not an option when ur family is already 8+ people cause those are small houses. And living in a dump is not an option.

For many people, once your family is that size, you basically missed the boat. Time to chap arein is before you have so many large expenses. ESPECIALLY if living in a dump is not an option. That's what many people do, live in a dump. If it's important to own a home, unless you're a millionaire or the child of one, something's gotta give. For us it was working very hard those first few years and still only affording a small house a bit out of the area. I'm so glad we did this because the other option is to still be renting with housing prices constantly going up along with our expenses.
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amother




Lawngreen


Post  Tue, Feb 05 2019, 11:22 pm
It's easier to do it need to do it when u r young. Before tuition payments before there arwany expenses. I bought my first house when my oldest was three months old. I bought a house with an existing apartment in it. It was a tiny hi Ranch. We spent less there than an apt would have cost us. We sold after two years, made a bit and moved to a newer part of town where houses were cheaper. I got a great deal since I was one of the first frum ppl in the neighborhood and had to build it up. Bh my house is worth about 300k more than what I got it for. And we are in a THRIVING and HOT neighborhood now.
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amother




Gold


Post  Tue, Feb 05 2019, 11:44 pm
amother wrote:
And living in a dump is not an option.


I'm glad that's your reality, but some people have the kind of budget that limits them to a small, unrenovated house.
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thunderstorm




 
 
 


Post  Tue, Feb 05 2019, 11:52 pm
amother wrote:
If the down payment is a gift do u need a letter stating that or something? Or just put it in your bank account a few months before the look back?
if you are taking out a mortgage, yes it needs to be reported and the gift giver signs a gift letter
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amother




Amethyst


Post  Wed, Feb 06 2019, 12:01 am
We bought a house for just under 600k in the five towns. Dh is a rebbe and I am a bookkeeper. Our combined income is around 110k a year. We have three kids and no we don’t pay full tuition. I got married at 25 and savings from when I was single is how we put 20 percent down. We moved in three days after we closed - no renovations although I would love to do some. Our monthly payment is around 3k. We live simply and that’s how we bh own a house!
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thunderstorm




 
 
 


Post  Wed, Feb 06 2019, 12:06 am
I purchased about 4 yrs ago. We were one of the only Jewish people in the area. Within a year, there were at least 15-20 additional frum families and every year that number increases.
We paid $410k at that time. I pay exactly $3,000 monthly which includes mortgage, taxes and insurance.
We only needed to put $50k down.
I look at rental prices now and I would be paying more in rent for the same amount of rooms.
Also, I moved in as is. A few months later someone my DH worked for years before as a favor called to tell him that he owed him $10,000 and wanted to pay him. We used that money and redid our entire kitchen from floor to ceiling for $15k. All we initially planned was to change the countertops and add a sink. After we got the money we decided to renovate completely.
We painted the walls ourselves one room at a time. The floors have never been scraped and it's in the same condition we purchased (besides for the kitchen and our own upgrades)
I'm happy to own my not so perfect looking home over being squashed in a tiny apartment (that looked new) and no privacy.
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