Is it ridiculous? buy townhouse attached monsey 1.3 million?

amother

Wed, May 31 2023, 4:40 pm

or rather continue paying rent which is going up 600 a month this year and additoinal 500 a month next year
help

amother

Chocolate

Wed, May 31 2023, 4:47 pm

Housing prices in Monsey are insane. Rental and buying. 4 bedroom flats in a development are going for close to 1 million. People are buying left and right, while we have no idea how we'd ever be able to buy, or pay more rent. I feel like something is wrong with us. How are people doing it? Can most people really afford a 6-7K mortgage? How does everyone have such large amounts for down payments?

amother

Wandflower

Wed, May 31 2023, 4:53 pm

If therapist can do it, why not landlords?
(Especially if it is being used differently than how it was zoned)

Trademark

Wed, May 31 2023, 4:55 pm

amother Wandflower wrote:

If therapist can do it, why not landlords?
(Especially if it is being used differently than how it was zoned)

Therapists and housing are two very different things.

amother

Sunflower

Wed, May 31 2023, 4:55 pm

amother OP wrote:

or rather continue paying rent which is going up 600 a month this year and additoinal 500 a month next year
help

It's ridiculous. But as long as people want to crowd together in one location, it's the rule of the markets.

It cant be both ways. Prices in desired locations are always ridiculous. One needs to decide between location and cost.

amother

Peach

Wed, May 31 2023, 4:57 pm

Where in Monsey are townhouses going for so much?
So does that mean my detached high ranch on a acre is with more?

amother

Bronze

Wed, May 31 2023, 5:04 pm

esuss wrote:

I believe it’s illegal to raise rent by so much

It’s the Wild West out here. Aint no govt gonna tell us how to how we can or can’t do things.

amother

Bronze

Wed, May 31 2023, 5:05 pm

amother Peach wrote:

Where in Monsey are townhouses going for so much?
So does that mean my detached high ranch on an acre is with more?

It’s all about location. Where do you live?

amother

Wed, May 31 2023, 5:12 pm

esuss wrote:

I believe it’s illegal to raise rent by so much

it's like the people in this corner aren't governed the same as elsewhere

amother

Wed, May 31 2023, 5:13 pm

amother Chocolate wrote:

NOTHING is wrong with you
I came here to ask because I'm simply at my wits end

amother

Wed, May 31 2023, 5:14 pm

amother Sunflower wrote:

we must stay in the area as DH has a relative [young] who needs daily physical assistance including shabbos and yomtov

amother

Honeydew

Wed, May 31 2023, 5:16 pm

amother OP wrote:

it's like the people in this corner aren't governed the same as elsewhere

And pple on Ima make things up. A simple google search will tell you that landlords can raise rent as much as they want as long as they give advance notice

amother

Viola

Wed, May 31 2023, 5:16 pm

amother Bronze wrote:

It’s the Wild West out here. Aint no govt gonna tell us how to how we can or can’t do things.

What if you don't pay it? What if you show the landlord what he is doing is illegal what is he going to do?

amother

Wed, May 31 2023, 5:19 pm

[quote="ap"]Op if I could afford it I would buy
What are reasons not to ?[/quote

it's a stretch for us

amother

Wed, May 31 2023, 5:20 pm

amother Viola wrote:

What if you don't pay it? What if you show the landlord what he is doing is illegal what is he going to do?

I'd show him nothing
all I'd accomplish is that I would get a name of 'such a tenant'

amother

Honeydew

Wed, May 31 2023, 5:20 pm

amother Viola wrote:

What if you don't pay it? What if you show the landlord what he is doing is illegal what is he going to do?

He’s not doing anything illegal as long as he gave notice. If you don’t pay it you are stealing.

amother

Sunflower

Wed, May 31 2023, 5:24 pm

amother OP wrote:

we must stay in the area as DH has a relative [young] who needs daily physical assistance including shabbos and yomtov

Unfortunately markets don't take into consideration where there truly is a need or not.

It is the way of the world. I am with you. I wish we would spread out rather than spreading on top of each other. It would be beneficial in so many ways. It would lower prices, encourage schools to be set up, etc..

amother

Firebrick

Wed, May 31 2023, 5:28 pm

amother Honeydew wrote:

And pple on Ima make things up. A simple google search will tell you that landlords can raise rent as much as they want as long as they give advance notice

This.

Nyc rent controlled buildings have Increase limits. I don't believe there is anything like that in the Monsey area.

Why do people love to bash so much?? What

Op the price is based on the high demand but I do believe at one point it doesn't make sense anymore to buy. Like most of my Brooklyn raised friends have moved away because it reached a point where it simply didn't make sense even if you can stretch to pay for it.