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If you're willing to look outside Manhattan ...

Started by NYCMatt
almost 15 years ago
Posts: 7523
Member since: May 2009
Discussion about
... WAY outside Manhattan ... instead of using that $200K as a down payment, why not spend only $175K *total* on a lovely 3-bedroom prewar home? You'd even have $25K leftover to buy a Honda Accord. http://www.realtor.com/realestateandhomes-detail/Harmony-Twp-Bea_PA_15003_M45195-79248
Response by sledgehammer
almost 15 years ago
Posts: 899
Member since: Mar 2009

Only a 325 Miles commute away?

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Response by PMG
almost 15 years ago
Posts: 1322
Member since: Jan 2008

LOL, Matt. The second picture of that listing clearly shows the ET-like water tower within full view of the property. Simply charming!

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Response by jason10006
almost 15 years ago
Posts: 5257
Member since: Jan 2009

You laugh, but I know a few people who live in PA and work in NYC. They only go home to see the kids on the weekends. One is a COUPLE where the granparents move in with them to take care of the kids Mo-Fri...

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Response by happyrenter
almost 15 years ago
Posts: 2790
Member since: Oct 2008

sounds like a fabulous life--abandon my kids in some hideous town in pennsylvania while i spend the week living it up in manhattan. why did i never think of this before?

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Response by bramstar
almost 15 years ago
Posts: 1909
Member since: May 2008

Hey, watch what you say about Pennsyltuckie. It's my home state.

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Response by hol4
almost 15 years ago
Posts: 710
Member since: Nov 2008

don't forget the 1% local PA Berkheimer tax..gag

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Response by hol4
almost 15 years ago
Posts: 710
Member since: Nov 2008

..or 1.25%+ in other jurisdictions

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Response by switel
almost 15 years ago
Posts: 303
Member since: Jan 2007

So now can someone explain me why to renovate a1200 sf apt in NYC cost about the same as buying an house outside??

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Response by PMG
almost 15 years ago
Posts: 1322
Member since: Jan 2008

switel, people ask outrageous hourly rates to do things for you in Manhattan. You have to negotiate hard, but also exercise some prudence and learn to refurbish and re-use as much as possible, unless of course, you can afford to splurge on a gut renovation. Last year, on a friend's recommendation I had a contractor quote me on a gut of a bathroom. He said it would be 3 weeks and cost $15,000 in labor only. That is $1,000 per day for the stated three weeks. It works out to $125 per man-hour, and that is if two men are working non-stop for six available working hours per day for two weeks (there will be downtime). A licensed union plumber costs $84 per hour but probably only needs to be there a day or two. This contractor asked if he could use my bath and I said no problem. Well, two months later I was wondering why my toilet appeared terribly soiled soon after cleaning. I opened the clean water tank and the base of it was filled with a brown silt that would leak into the tank. Was this the work of an unscrupulous contractor trying to influence me to gut renovate? Probably, as a disgusting and thorough cleaning of the water tank led to crystal clear, trouble free use. Lesson, watch your wallet and never trust a contractor to use your bathroom.

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