On May 19, Chris and I are scheduled to have the closing on our very first home purchase. While this is extremely exciting, I have to be honest. I am scared effing shitless. Why? Because the thought of handing over a check for a sum that is the large majority of our life savings is kind of like bending over and letting someone have their way with you. Oh. That and the thought of paying the mortgage. Essentially, we will be paying more than double what we are paying right now in rent. Somehow we all calculated that we can actually afford to do this. But as I (now obsessively) check my bank statement from paycheck to paycheck, I find myself thinking...sure we can afford this.
As long as we can eat imagination for dinner and figure out how to make our cars run on hopes and dreams!!!! The $1000 a month healthcare costs certainly don't help my case. Honestly if it wasn't for that, we could afford this house no problem. And I realize that when it comes down to it, I may have to scale things back for a little while. Not to mention that the job market being as it is, it doesn't look like either of us will be getting any big raises or promotions any time soon. Of course I guess the godwaful economy is the only reason we are able to buy a house right now ANYway. Living in the suburbs of NYC is also much like bending over and having someone have their way with you. A little less than actually living IN the city...but not by much.
Now I know what you're thinking. But you work in the NY metro area...you get PAID more!! Right?
Wrong.
I mean sure, I get paid more. Do I get paid enough more to make up for the absurd discrepancy between average salary and cost of living? Absolutely not!! When I was working in Nashville for that year, I made only $10,000 less than what I make right now. That's it. And in Nasvhille, making what I made was like being filthy rich!! Anything over 40K is like making 100K in NY. No joke. Proof? We rented a 4bedroom, 2 bathroom, brand new house with a shit load of land for a whopping $750 a month. We could have bought the same house for $80,000. I didn't work for the last few months I was there, after my surgery. And on Chris's salary alone, which wasn't much, we still had plenty of money to pay for everything we needed, wanted, and more. So yes. I may make more than someone living somewhere else. But I certainly don't make enough. Needless to say, I am not making six figures. And that's about what you need to make to make ends meet around here. I look at my friends who live outside cities like Philly and Chicago and I hear about them buying these nice houses in the $250's or nice condos in the $200's. For fun, I plugged 250K into a real estate search engine in the three local NY counties that surround NYC. Rockland (where I currently live), Westchester (where I currently work) and Putnam (where I am moving to). Westchester is directly north of the city, north of the Bronx to be exact, and sick expensive. Rockland is directly across the Hudson River from Westchester and while there is a bridge involved, is just as expensive as living right next to the city, and Putnam is directly north of Westchester. Northern Putnam and the really out of the way places are more affordable, but Chris works in the city...so naturally we are moving to an area of Putnam that is right on the Westchester border. So...still pretty pricey albeit a little less. So here were my results of a single family home that you can get in each county for $250,000...
ROCKLANDThis lovely two bedroom "cottage" located in West Haverstraw, which is kind of like the suburban ghetto, located right next to what looks like a crack house. The description says "Handyman special! Sold as is" which translates to "total shitbox! good luck!"
WESTCHESTER
This dreamy semi-attached in Yonkers! Also sold, "as is." Yonkers has nice areas and really not nice areas. For the most part Westchester County is really nice, with one or two exceptions, but hence is by far the most expensive county. Everything I pulled up on a 250K search was either in ghetto Yonkers, ghetto Mount Vernon, or a one bedroom cottage on a lake somewhere that looked like something out of deliverance.
PUTNAMPutnam county is great. It's a lot of land and conservation areas and lakes. Gorgeous places in Putnam exist. But it is basically the place you go when you want to still be able to commute to the city but you just can't afford to buy anywhere else. However by national standards, it is still not cheap. Not at all. As it is Chris's train ride is going to be 70 minutes long and we are moving to the southern-most reasonable tip of Putnam that we could find near a train station!! So I found this oh so lovely two bedroom ranch in Brewster, which is the town we are moving to. The description boasts things like "level lot" and "great for investors- do a flip!" which basically says hey, we know this house is a shitbox. That's why we're selling it for so cheap. Oh but don't worry, taxes on this baby are still $7,000 a year. Imagine an actual nice house? Yea. Welcome to my world.

Let's play another little game now. What can you get for 500K in these counties? In most other places in the US, you can get an effing mansion for 500K. Let's see what our search turns up..
ROCKLAND
A 3 bedroom ranch in New City, which does boast the best schools in Rockland. This house is 1500 square feet, .95 acres of land, and $9000 a year in taxes. It costs 500K.
WESTCHESTER
This lovely 4 bedroom in Greenburgh! A whopping 1600 square feet! One tenth of an acre of land. Okay area. Looks like something someone's grandma must live in. $10,000 a year in taxes. Did I mention that Westchester is obscenely expensive and that is why I will never live there???
PUTNAM
Well, I suppose this is a house that almost looks like it should cost 500K! Although I realize that to anyone else in any other part of the county, this house looks like it should cost about 300K. 4 bedrooms, 2500 square feet, 1.2 acres. But this is why I am moving to Brewster, I guess. Just a bit farther north and things do change at least a little.

So what about our place? We found ourselves the least expensive house in all of Brewster that was still actually nice, which as it so happens is also the most we could ever humanly possibly afford at this time. And it's a lovely little...and let me restate that...LITTLE house. 1300 square feet of little..although that doesn't include the full basement we intend to finish. Honestly, I am not in the least complaining about the house we bought. I love it. It's perfect for us right now. I am just so happy that we can buy anything at all, and while I am BAFFLED that houses cost so much in this area, I do not need some big house, as previously stated. I am honestly in love with our little home, the idea of having our own place with our own back yard, and the town that we are moving to (Brewster). The house is a three bedroom ranch on an acre of land. The land is what really sold us on this place. It's got a huge backyard and what feels like endless woods behind that house. And woods they won't build on. There are big evergreens separating our house from the houses next to us, and they are plenty far away. It's got charm. A cute little fireplace room with an entire wall of built in book shelf. Yea. We love it. And it doesn't really need work, other than some cosmetic stuff and some sprucing up of the landscape. But all the big stuff...windows, roof, driveway, etc...is all done.I won't even let you guess how much it cost, but with the housing market as it is (remember that folks...all these houses you see above still cost 250K despite the housing crisis. Imagine a few years ago?) it wasn't nearly as much as it may have been two years ago. We managed to stay under 400K, but not by that much. And to be honest, the fact that it was under 400K blew our minds. Just a year ago nothing would even come UP on a real estate search for a single family home under 400K. Maybe that semi-attached in Yonkers. So honestly, we just feel lucky and proud of ourselves for being able to do this. It's been a long haul. We knew now was the time to buy. We had nothing to sell and some money in the bank and the interest rates were amazing. (We locked in around 5.6%...sad when I get so excited about something like that). So we went for it. However don't be surprised if all of a sudden I stop blogging because I had to give up my internet service to pay my mortgage.
Doh.
PS...here's what a million dollars can get you in Westchester. (sorry, I had to). Three bedrooms, two bathrooms, 2000 square feet, and
one tenth of an acre. A million bucks and your neighbor is on top of you. Oh...and
$17,000 a year in taxes. For the record, there are towns in Westchester that you can plug in homes worth a million dollars as the MAXIMUM...and no homes show up in the search.

IIIIII LOVE NEW YOOOORRRRKKK!!! Next edition...what can you can get for a million dollars in the five boroughs!!?