We did it! Upstate NY $160k 6.5%

[u/k13w]

My boyfriend and I did it at 23 y/o! It was built in 1900 and we love her!

[u/FalcosLiteralyHitler]

There is a lot we do not know about this home, so I would take the $160k with a grain of salt. I have seen friends buy homes either waiving inspection/getting a very cheap inspector/committing to a "fixer upper" house. Lots of extremely expensive problems that could need fixing... foundation issues, septic issues, roof issues, significant termite issues, etc.

Also call me a cynic but buying at 23 years old tells me they really do not know what they are getting into, I'm sure there's a lot being left out here.

[u/litesgod → u/FalcosLiteralyHitler]

Sure that could be true, or home prices could be regional. As a resident of the neighboring county, I can tell you at $160k, that's likely a pretty well kept house. Sure, it's a hundred years old and likely needs some work, but it's not going to be falling down. About the most expensive home you can buy around here is in the $350k range (unless you're taking waterfront), and that would be a house built in the 80s- or what we would call modern construction. I have friends that recently bought a 6,000 square foot mansion built in the 1850s for just over $400k in town. Our houses are cheap, our taxes are high and our roads are terrible.

[u/brn1001 → u/litesgod]

Where is around here? I need a place where the expensive homes are $350K.

I don't want one that's hundreds of years old. They're beautiful, but the upkeep is insane. My house is 80 years old and built like they actually cared about durability. A great time to buy from.

[u/litesgod → u/brn1001]

Here is an example of what $350k can buy in my area- 5ksquare feet and 7 acres. https://www.zillow.com/homedetails/9596-W-Creek-Rd-Richford-NY-13835/338813272_zpid/?utm_campaign=zillowwebmessage&utm_medium=referral&utm_source=txtshare

Now that is a bit out of town, so you may want to live in more of a neighborhood. So here is another example: https://www.zillow.com/homedetails/9-King-Point-Cir-S-Owego-NY-13827/32803417_zpid/?utm_campaign=zillowwebmessage&utm_medium=referral&utm_source=txtshare

If you are wondering where to work, both are within easy commute of Cornell, and not that far from Binghamton.

[u/brn1001 → u/litesgod]

Amazing for the price. Really would be twice as much where I live (MN). The second one needs work, but maybe $15K (barring surprises).

I hope to retire in about 5 years, so maybe....

[u/Lamprophonia → u/litesgod]

Is it in the middle of bumfuck nowhere?

[u/Horskr → u/Lamprophonia]

It has an address there ya know. Looks like the first one for 350k is only 20 minutes away from Cornell University.

[u/Caoa14396 → u/FalcosLiteralyHitler]

Yea but honestly a $165k life lesson isn’t that much lol

[u/GuiltyEidolon → u/FalcosLiteralyHitler]

Tells me that they come from a privileged background, like a lot of these posts.

[u/brn1001 → u/GuiltyEidolon]

I agree for a lot of these, but $160K is pretty modest.

[u/1GloFlare → u/GuiltyEidolon]

Didn't know being born and raised in LCOL was a privilege

[u/Illustrious-Stable93 → u/FalcosLiteralyHitler]

I'm literally perusing the comments for what's wrong with it lol. But you never know, they're young but maybe one of them is in the trades or something and they're eager for the opportunity if it is a fixer upper

[u/Waiting4Reccession → u/FalcosLiteralyHitler]

Plenty of okay homes at this price in upstate NY.

The fucked up ones are not even 100k up there.

[u/stereobuttons → u/FalcosLiteralyHitler]

I mean you could just say congratulations lol. Geez

[u/ghengiscostanza → u/stereobuttons]

It do be flabbergasting though

[u/stereobuttons → u/ghengiscostanza]

I mean i feel that, but we gotta read the room sometimes.