Looking to purchase a first home....

[mugs]

Originally posted by: Rogodin2
There is no way in hell I'd pay 500000 for a suburban home.

There has to be less expensive homes that need some work that are closer/as close to you.

Rogo

OP lives in NJ. I've been looking at houses in NJ too. I want to spend $400k. I have two options - buy a small house built in the 50s or earlier on a small lot close to work, or buy a bigger house built more recently in a more rural area farther from work. $400k for either option. I know they built houses solidly back then, but they also built them small and I like the layout of newer houses a lot better. I live in a house built in the 30s now, and I'm tired of having a crappy basement.

Not sure I'd buy a house in NJ now though, the housing market is not so great.

 

[BarneyFife]

$350k in Michigan can get you a brand new 3000 sq ft home with all the goodies.

 

[paulxcook]

If you can, try to get the seller to pay your closing costs. I actually made money in the short term when I bought my house. Though I didn't have a $50K down payment, so it probably matters less to you to have your closing costs paid.

Good luck.

 

[Rogodin2]

$19000 can get you a brand new 2159 sq home 1 mile from the largest microsoft datacenter in the country.

Rogo

 

[mugs]

Originally posted by: Rogodin2
$19000 can get you a brand new 2159 sq home 1 mile from the largest microsoft datacenter in the country.

Rogo

That's awesome if you happen to work at that datacenter. If I lost my job there are thousands of other companies I could work for without a long commute.

There wouldn't be millions of people paying so much to live in NJ if there weren't reasons to live here.