nosy housing questions

[Anonymous]

Talk about small lots. My parents house is in a nice area (NYC) and the lot is so small (27×100) there is no back yard (well, nothing that I would call a backyard). Their house was appraised for $670,000. At least their property taxes are not outrageous. We can’t even think of buying anything of our own since we can’t afford it (and we make decent money between the two of us). We’re still renting and with the second baby coming, we’ll still be here in a one bedroom apartment. I pray a lot!

[Anonymous]

strange… I really thought that I replied to this today, but maybe I put my reply in another thread.

Anyhow, my apologies, I meant to say that we pay over $10 000 a year in property taxes (well over, I’m sure, but dh does the bills).

And yes, we do live about 1-2hrs north of Toronto, which is a big city in Ontario.

[Anonymous]

Ohh Marianna.. you sound just like us! Are you up here in the north too??

And Lori..that is soo true about cities.. i guess its where all the business is..and everyone wants to live near their work!

[Anonymous]

I love Zillow and have to admit I have been nosy and looked up the price of friend’s and family’s houses before! It is pretty accurate from what I can tell.

As far as housing, I have to say that is one thing I do love about Atlanta- we live in what is considered a very nice neighborhood and our house is worth about $240-250K. We have about 3,000 square feet. It is the traditional 4 bedroom, 2.5 bath with a family, dining and living room and a decent yard. We don’t have a basement but the same house with a finished basement in our neighborhood goes for about $300,000. Our first house was what you would consider a starter home and it would probably cost about $150-160K now.

Our mortgage payment including property taxes is about 17% of our take home income.

I feel sorry for the first time home buyer- housing prices (here anyway) have skyrocketed over the past few years. Luckily, we got in before the boom and had built up a good bit of equity to put down on our current house. It’s crazy to think people buying starter homes have the same house payment as me!

Good luck with your move!

[Anonymous]

Lori, yes, we live in one of NYC’s boroughs.

[Anonymous]

It’s crazy to me how much the housing market can vary across the US. Our new house is larger (2800 sq ft) but was only $120,000. I say “only” because that seems dirt cheap compared to what I’ve read. That being said…we are stretched to the max trying to afford it! Both being teachers, we’re definitely not rich, but we are wealthier than most people in my county (I live in the poorest county in IL!) I just calculated that our mortgage payment with taxes and insurance is 22% of our income. Once you take out two car payments, daycare, and student loans…we’re pushing it!! Christine – I hope you are able to make the right decision for your family! I hate buying/selling houses. I hope this is the last house we ever have to live in!!!!

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