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-> Moving/ Relocating
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amother
Pink
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 Mon, Jan 03 2022, 11:18 pm
| amother [ Azure ] wrote: | I recently looked at a house approx 1.8mil. Based on calculations, we would need to put down close to 500. Mortgage approx 7,000/month.
And then renovations, needed a lot of work about 200.
Astronomical  |
When you say needed a lot of work what does that mean?
Average house that needs a lot of work in Boro park is min 400k plus.
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amother
Azure
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Mon, Jan 03 2022, 11:32 pm
| amother [ Pink ] wrote: | When you say needed a lot of work what does that mean?
Average house that needs a lot of work in Boro park is min 400k plus. |
That number was a guestimate. Infrastructure was good, new boiler. Would redo the entire framing etc. but if funds are limited, can do more basic work. I didn’t actually get quotes for construction, don’t think we’re going with the house anyway.
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amother
Pink
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Mon, Jan 03 2022, 11:35 pm
| amother [ Azure ] wrote: | | That number was a guestimate. Infrastructure was good, new boiler. Would redo the entire framing etc. but if funds are limited, can do more basic work. I didn’t actually get quotes for construction, don’t think we’re going with the house anyway. |
I hear. Just know what you’re getting yourself into. If you need to gut a house that cost 1.8. Chances are you’re looking at 800k min in construction-nothing fancy here.
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amother
OP
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Tue, Jan 04 2022, 12:13 am
| amother [ Dimgray ] wrote: | I have no problem sharing anon if I can help out.
I just bought a 3000 sq condo a few month ago brand new for 1.3 mil range, put down close to 350K
plus closing and taxes of 70K. Mortgage close to 5K a month. |
Thanks!! this was very clear and helpful!
Was there an option to put down any less, or was this the minimum? (no pressure to answer. only if you feel comfortable)
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amother
OP
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Tue, Jan 04 2022, 12:13 am
| amother [ Pink ] wrote: | I paid 1.7m a year ago. Down a little over 500k. Monthly Mortgage is close to 6k.
It’s insane |
Thanks for the clear response! I appreciate it. Was there an option to put down any less in your case or was this the minimum?
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amother
OP
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Tue, Jan 04 2022, 12:15 am
| amother [ Acacia ] wrote: | | I bought within the past few years. My house was 990. Put down around 230 including closing costs. Had to put in 200 was dilapidated so did the minimum. Everything is an absolute fortune. Don’t forget u need things like mezuzah, lights.. they don’t cost a lot each but when you buy for an entire home it adds up. I suggest having 3 months of expenses put away. It will save you after you purchase. We didnt have that and it was very hard. A lot of things came up. Like the plumbing was wrong in a bathtub and leaked thru the ceiling. Out mortgage is around 3500. Which is the same as renting for the size apt we would need so made sense to borrow some money and buy. We did have money but not enough. Also remember landscaping, water and gas if you don’t pay that now. And all bills will be higher because more space. Also if there is very little insulation it’ll cost more to heat or cool your house. Buying thick curtains will conceal the air inside and help save a little bit. Will you have to buy more furniture. Will you bring what you have and buy slowly once you move. |
Thank you! I appreciate that you took the time to write the detailed reply. Is this in BP? 990 seems quite low compared to the current market. Is it in a good location? size?
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amother
Pink
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Tue, Jan 04 2022, 12:19 am
| amother [ OP ] wrote: | | Thanks for the clear response! I appreciate it. Was there an option to put down any less in your case or was this the minimum? |
Sorry-, I don’t know. I didn’t try.
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amother
Pink
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Tue, Jan 04 2022, 12:20 am
| amother [ OP ] wrote: | | Thank you! I appreciate that you took the time to write the detailed reply. Is this in BP? 990 seems quite low compared to the current market. Is it in a good location? size? |
I’m not this poster but 6 years ago these were the prices. Prices have gone up up up within the last few years.
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amother
Viola
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Tue, Jan 04 2022, 12:38 am
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amother
Khaki
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Tue, Jan 04 2022, 12:54 am
OP, im glad you got some real answers! The best to have these numbers down on the table.
I cannot! imagine how hard it is to come up with all that. Kudos to all you that did. Wow!
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amother
Rainbow
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Tue, Jan 04 2022, 12:56 am
| amother [ Fuchsia ] wrote: | | Friends just bought in the heart of bp for 2.5 attached on both sides. |
How big a house, and how old, modernized or not?
tia
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amother
Rainbow
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Tue, Jan 04 2022, 1:02 am
| amother [ Khaki ] wrote: | OP, im glad you got some real answers! The best to have these numbers down on the table.
I cannot! imagine how hard it is to come up with all that. Kudos to all you that did. Wow! |
I bet at least half of those who came up with many hundreds of thousands for down payments, got gifts or loans from parents or others.
The rest were wildly matzliach in business, like winning the lottery. These numbers cant possibly apply to most young people who have no degrees, who have children and assorted expenses in addition to saving for a house.
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naturalmom5
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Tue, Jan 04 2022, 1:27 am
| amother [ OP ] wrote: | | I apologize for asking such personal questions. I guess BP is more private than other places.... as I've seen the same or similar questions answered about buying houses in Lakewood, Monsey, and other places on Imamother.... |
Sounds like some kind of shenanigans is going on they would rather not draw attention to on a public forum
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amother
Acacia
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Tue, Jan 04 2022, 5:27 am
| amother [ OP ] wrote: | | Thank you! I appreciate that you took the time to write the detailed reply. Is this in BP? 990 seems quite low compared to the current market. Is it in a good location? size? |
Bought around 4 yrs ago. Closer to ocean parkway. It’s not officially bp however everyone in my block is chasidish/heimesh.
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amother
Pink
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Tue, Jan 04 2022, 10:01 am
| naturalmom5 wrote: | | Sounds like some kind of shenanigans is going on they would rather not draw attention to on a public forum |
shtisim
I'm one of the people that answered on this thread that bought a house in BP recently, and I don't know of a secret to make it happen in a roundabout way.
I'm guessing lakewood and monsey are more forthcoming cause it's just easier to say I bought a monsey house for 650K and put down 75K than say I bought a house for 2.2M and put down 800K
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amother
Orchid
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Tue, Jan 04 2022, 10:20 am
I bought a couple of years ago. Prices have gone up since...
Paid 750. Put down 20%. Closing costs and renovations which we tried to keep low...
Monthly mortgage around 3k
Hatzlacha
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amother
Mocha
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Thu, Jan 06 2022, 11:09 pm
| amother [ Pink ] wrote: | shtisim
I'm one of the people that answered on this thread that bought a house in BP recently, and I don't know of a secret to make it happen in a roundabout way.
I'm guessing lakewood and monsey are more forthcoming cause it's just easier to say I bought a monsey house for 650K and put down 75K than say I bought a house for 2.2M and put down 800K |
Why is it difficult if your anonymous?
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amother
Mocha
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Thu, Jan 06 2022, 11:12 pm
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Can some posters say where they have 500-800k for a down payment?
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amother
Pink
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Thu, Jan 06 2022, 11:25 pm
| amother [ Mocha ] wrote: | | Why is it difficult if your anonymous? |
First of all I answered.
But I can understand why people might feel awkward even anonymous because these numbers are just insane.
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amother
Pink
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Thu, Jan 06 2022, 11:26 pm
| amother [ Mocha ] wrote: | | Can some posters say where they have 500-800k for a down payment? |
No this is already too much information even anonymous. People would recognize me.
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