House Hunting

Having decided that we would be okay living in New York for many more years, my wife and I have decided to look seriously at buying a house in the area. Not having looked at houses before in my life, I have learned that New York may be a rough place to own one’s first home. Not only is it expensive, but the houses are so old compared to much of the country. I grew up on the west coast where things were relatively new and new developments were still being built. In the northeast, most of the available residential land was filled long ago and the houses on the market are commonly anywhere from 80 to 150 years old. A house that old needs constant work and fixing up, something I am trying to avoid with our first home. Not only do I have no handyman skills, I also don’t have much interest, not to mention time. The remedy to the old house problem is to buy something built more recent. But then the price becomes ridiculous, especially when compared to what the same amount of money (or even half!) can buy in other parts of the country. While my wife and I feel as if we make decent money, the idea of spending well over a half a million dollars on our first home is a bit frightening. In the end, we must look at it as an investment, even if our monthly mortgage payments will be $4000 plus. We don’t want to rush into anything, but our search will continue, maybe even on a weekly basis. New York has a lot to offer in many ways, but the price to live in New York is never cheap.

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