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Forum
-> Inquiries & Offers
-> Lakewood, Toms River & Jackson related Inquiries
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amother
OP
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 Sun, Jan 02 2022, 5:13 pm
I’m really just curious how people are affording the housing prices these days.
If you recently bought a house (ETA and were previously renting, not that you sold and were the able to afford) would you be comfortable sharing what you paid, and how you were able to afford it?
How much are your monthly payments and what do you make annually?
For example:
~you had money in savings and put down the least amount possible, and make X amount of money per year which leaves you comfortably able to pay the monthly payments.
~your parents give each of their kids money for a down payment (but I’m still curious about the monthly payments)
Etc.
And if you’re in kollel/klei kodesh and your parents are also, then I’m REALLY curious how you do it. So you’ll get extra points for answering my questions.
Purely curiosity!!! Thank you!
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amother
Honeysuckle
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Sun, Jan 02 2022, 5:16 pm
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Many are moving from Brooklyn and selling their house there, so have the money.
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amother
OP
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Sun, Jan 02 2022, 5:19 pm
| amother [ Honeysuckle ] wrote: | | Many are moving from Brooklyn and selling their house there, so have the money. |
Maybe I should edit my op to say if you recently bought after renting, not from selling a previous house?
I’m referring to the Lakewood couples who’ve been buying recently. Not Brooklyn expats.
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amother
Birch
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Sun, Jan 02 2022, 5:20 pm
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I don’t like answering these questions. Especially if you are anon. We just bought. Our mortgage is not that much more than rent. We had a down payment in savings.
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amother
Buttercup
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Sun, Jan 02 2022, 5:21 pm
Bought recently at almost 700k
Put down 20 percent so around 140k
Mortgage is around 3,200 a month but we rent out the basement for 1600.
We had money in saving and our parents contributed around 50k combined.
We make around 110k a year
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amother
OP
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Sun, Jan 02 2022, 5:22 pm
| amother [ Birch ] wrote: | | I don’t like answering these questions. Especially if you are anon. We just bought. Our mortgage is not that much more than rent. We had a down payment in savings. |
Understood. Did you buy in a further out area that is still “cheap”?
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amother
OP
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Sun, Jan 02 2022, 5:23 pm
| amother [ Buttercup ] wrote: | Bought recently at almost 700k
Put down 20 percent so around 140k
Mortgage is around 3,200 a month but we rent out the basement for 1600.
We had money in saving and our parents contributed around 50k combined.
We make around 110k a year |
Thank you for sharing!
Wow, how long did it take to save up that much?
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amother
Birch
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Sun, Jan 02 2022, 5:24 pm
| amother [ OP ] wrote: | | Understood. Did you buy in a further out area that is still “cheap”? |
yes
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amother
Buttercup
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Sun, Jan 02 2022, 5:29 pm
| amother [ OP ] wrote: | Thank you for sharing!
Wow, how long did it take to save up that much? |
BH we had some good deals so not that long. Were pretty frugal although we have extra money at the end of each month.
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amother
OP
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Sun, Jan 02 2022, 5:31 pm
| amother [ Buttercup ] wrote: | | BH we had some good deals so not that long. Were pretty frugal although we have extra money at the end of each month. |
Good for you! Kol hakavod!
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amother
Cobalt
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Sun, Jan 02 2022, 5:51 pm
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I don't live in Lakewood, but I think the tide is turning. Where I live the houses for sale are starting to sit on the market for weeks and many have price cuts
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amother
Birch
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Sun, Jan 02 2022, 5:53 pm
| amother [ Cobalt ] wrote: | | I don't live in Lakewood, but I think the tide is turning. Where I live the houses for sale are starting to sit on the market for weeks and many have price cuts |
Not in lakewood yet. There are still bidding wars and houses are off the market in a few days
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amother
Lavender
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Sun, Jan 02 2022, 6:13 pm
I don't live in Lakewood, but I think the tide is turning. Where I live the houses for sale are starting to sit on the market for weeks and many have price cuts
Dont see this happening in lakewood any time soon!!
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amother
Violet
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Sun, Jan 02 2022, 6:19 pm
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I think Rabonim should stop allowing homes to be purchased at these prices and lock in lower prices. There is nothing wrong with renting.
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amother
Birch
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Sun, Jan 02 2022, 6:21 pm
| amother [ Violet ] wrote: | | I think Rabonim should stop allowing homes to be purchased at these prices and lock in lower prices. There is nothing wrong with renting. |
Rabanim don't control anything or anyone. You can't force people not to buy or not to sell.
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amother
Violet
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Sun, Jan 02 2022, 6:22 pm
| amother [ Birch ] wrote: | | Rabanim don't control anything or anyone. You can't force people not to buy or not to sell. |
You can if you won't allow the children in your mosdos. Easy.
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amother
OP
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Sun, Jan 02 2022, 6:24 pm
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It’s a nice idea in theory but it’s not gonna happen.
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amother
Burntblack
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Sun, Jan 02 2022, 6:24 pm
| amother [ Violet ] wrote: | | You can if you won't allow the children in your mosdos. Easy. |
That's awful. Hope we never come to that as a community no matter how expensive housing gets.
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amother
Birch
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Sun, Jan 02 2022, 6:27 pm
| amother [ Violet ] wrote: | | You can if you won't allow the children in your mosdos. Easy. |
Why in the world would you suggest such a horrible thing? And the litvish world doesn't work this way.
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