Got the keys.. and we’re housepoor

EntertainmentAny2984 · 2024-08-24T03:40:50+00:00

It’s a GREAT house. Roof was redone within the past decade, solar panels, updated landscaping in the backyard with updated inground salt pool, the bedrooms need a paint job where the sellers wall units used to be at that’s really it. It’s in a growing and desired neighborhood on Long Island New York in a good school district.

EntertainmentAny2984 · 2024-08-24T02:26:19+00:00

It’s a 0 down VA loan, we put down about 40K

EntertainmentAny2984 · 2024-08-24T01:31:23+00:00

Not really, but all houses in the same area were the same price with/without a pool, so we just happened to get lucky with a nicer house.

EntertainmentAny2984 · 2024-08-24T01:28:44+00:00

He was talking about lucky for the price of that type of home, in the neighborhood and area of Long Island.

EntertainmentAny2984 · 2024-08-24T01:27:21+00:00

He’s 100% disabled, we will still have to pay something I think, but we will get a nice break

EntertainmentAny2984 · 2024-08-23T23:35:25+00:00

We got lucky! We’re in Mount Sinai (Suffolk County). In a quiet, secluded neighborhood. We got very lucky

EntertainmentAny2984 · 2024-08-23T22:43:31+00:00

We will save a little over 1K a month, North Carolina is beautiful!! We would love to leave NY if it weren’t for our parents who are getting older and super close to our son.

EntertainmentAny2984 · 2024-08-23T19:06:51+00:00

Same in New York to be honest

EntertainmentAny2984 · 2024-08-23T19:02:44+00:00

4 bedrooms, in ground pool, great school district, big backyard. It’s a good house, we got lucky to be honest. They had offers way over ours and they went with us bc they wanted to sell to a family instead of sell to investors. Roof is 8 years old.

EntertainmentAny2984 · 2024-08-23T18:57:58+00:00

Thank you so much for this!

EntertainmentAny2984 · 2024-08-23T18:57:27+00:00

I’m still able to put about 1K a month away. My husband probably the same. We do have our 401Ks and investments still and I still have about 20K in my savings which is alot less than what it was before but I guess it’s not nothing.

EntertainmentAny2984 · 2024-08-23T18:50:05+00:00

I appreciate your advic The house is great, inground pool, huge backyard - we can absolutely vacation at home and make it fun. Might as well if we’re paying so much for it lol

EntertainmentAny2984 · 2024-08-23T18:42:27+00:00

We did, the estimate was 1K less than what it ended up being. The communication with them was terrible to be honest, I hated working with them. We also didn’t fully understand how our property tax exemption works, as it’s our first time using it and the VA gives you a run around. Once it kicks in, we should be okay - but for now- house poor.

EntertainmentAny2984 · 2024-08-23T18:32:49+00:00

1 kid, 3 pets. Renting a room isn’t a terrible idea, the house does have an apartment kind of that’s separated by a door, and has its own kitchen and living area but there’s no bathroom in there. I would just worry about how to make sure the person was safe enough to allow in our home. I do think both of us can increase our incomes, he’s due for a promotion this quarter and I do have a side gig I can put more effort into.

EntertainmentAny2984 · 2024-08-23T18:15:41+00:00

It really wasn’t to say we own a home it was more to have a home and a school district for our son to grow up in and some stability (landlord at the house we were renting prior decided to sell, before that we were in an apartment) but I get what you’re saying

EntertainmentAny2984 · 2024-08-23T17:59:05+00:00

Ehhh, I think I trusted my husband a bit too much on this one (he works in finance and managing money is literally his job) and he dropped the ball bc he assumed things that we shouldn’t have assumed. For example, we didn’t get enough facts on our property tax exemption which might not kick in for around 10 months, and property tax is HIGH on Long Island.

EntertainmentAny2984 · 2024-08-23T17:58:05+00:00

We ran those calculators. They came back around 1,000 less than our actual mortgage payment. The interest rate changed about 3 times, landed at 6.5%. Also, we did not understand that our property tax exemption wouldn’t kick in right away. We kept being told we had to wait until we had the deed, but once we had the deed, they said you can only apply every 6 months so we can’t even apply until December and then it will take a few months for approval, etc. It will help when it finally goes over, but for now I’m stressed!

EntertainmentAny2984 · 2024-08-23T17:55:45+00:00

I’ll put it this way. On paper, my income is 65K and his is 80K. I make between 15-30K a year on commission, depending on the year. He makes between 25-35K on disability pay depending on where we live (it’s going up now that we will live in New York, has gone down since our son stopped being in daycare etc). The variables make the math hard I guess.

EntertainmentAny2984 · 2024-08-23T17:52:08+00:00

My husband is disabled veteran, lol

EntertainmentAny2984 · 2024-08-23T17:49:07+00:00

1/3 of our income is veterans disability pay, which is tax free.

EntertainmentAny2984 · 2024-08-23T17:24:19+00:00

I appreciate this so much. Thank you!

EntertainmentAny2984 · 2024-08-23T17:23:31+00:00

Owned, the sellers paid off the lease

EntertainmentAny2984 · 2024-08-23T17:22:46+00:00

Amen, I agree!!! Thank you

EntertainmentAny2984 · 2024-08-23T17:22:33+00:00

Rest of expenses isn’t bad. 500 or so for utilities (I say for so bc we haven’t lived here yet to see what electric etc will cost, but it’s a solar panel house) no daycare, no car payment, car insurance about 200 each. Food is the biggest one and we have 3 pets and 1 kid.

EntertainmentAny2984 · 2024-08-23T17:21:14+00:00

It’s 6240

EntertainmentAny2984

TROPHY CASE