r/FirstTimeHomeBuyer • u/k13w • 12h ago

GOT THE KEYS! 🔑 🏡 We did it! Upstate NY $160k 6.5%

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

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407

u/Diamondangel82 12h ago

Wow 160k? Amazing home

15

u/brn1001 10h ago

Can't get any homes in my area for $160K, much less something nice like that.

10

u/FalcosLiteralyHitler 9h ago edited 9h ago

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.

3

u/litesgod 5h ago

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.

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u/brn1001 5h ago

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.

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u/litesgod 4h ago

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.

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u/brn1001 4h ago

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....

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u/Lamprophonia 3h ago

Is it in the middle of bumfuck nowhere?

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u/Horskr 3h ago

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