I love reading the Times real estate section, because it makes anywhere else in the country seem downright cheap by comparison, with a higher quality of life, more affordable housing, and every bit as much opportunities for culture, dining, the arts, etc (amazing what you can afford to do when you're not tied to overinflated home prices and eye-watering mortgages payments). New York real estate prices weren't always insane, but they're that now. Good luck and happiness to you both.
Congratulations on your success and welcome to homeownership! Enjoy recycling, it can be very therapeutic. Nice to finally see the Bronx burning bright for a very caring and relatable couple. The lettering looks absolutely amazing. Wishing both of you the very best.
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We would like to personally thank all of you for your comments and hope that you found this hunt especially helpful if you are looking for your first place or a place in the Bronx. Here are some short responses to your questions.
- Letters on the wall: It's a makeshift crossword puzzle. The letters are made of of 8 inch tall 1/2 inch letters. You can buy these wood letters online. The letters do have significant phrases and names in them.
- Unemployment: There are strict regulations to protect people from buying homes they can't afford. KaRon was gainfully employed working in finance and strategy up until a few weeks ago when she was laid off. However, working/living in NYC has taught us to make adequate contingency plans in situations such as these.
As for inheritances: we wish :)
- Slideshow: The NY Times should consider have a section where you could see the buyer's home. The "hunt" is only about that, not design.
Thanks again and good luck on your next hunt.
- Letters on the wall: It's a makeshift crossword puzzle. The letters are made of of 8 inch tall 1/2 inch letters. You can buy these wood letters online. The letters do have significant phrases and names in them.
- Unemployment: There are strict regulations to protect people from buying homes they can't afford. KaRon was gainfully employed working in finance and strategy up until a few weeks ago when she was laid off. However, working/living in NYC has taught us to make adequate contingency plans in situations such as these.
As for inheritances: we wish :)
- Slideshow: The NY Times should consider have a section where you could see the buyer's home. The "hunt" is only about that, not design.
Thanks again and good luck on your next hunt.
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Great story. I love New York....ALL of the boroughs! To live in a real house so close to everything must be wonderful. Love the interior paint job too. And yes, finally someone buying a house that I could afford. Once the price of featured home seekers is $1 million dollars +, I have to zone out as I can not relate to those figures.
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I wish them well, but one young lady is unemployed and the other is a librarian. Maybe NYC librarians earn a lot more than in the Midwest, but frankly I am gobsmacked they could afford to buy a half-million dollar house on the income of ONE 29 year old librarian (i.e., she is not a library director or in an advanced position yet, because of her youth).
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You don't know her employment history or personal finances. More importantly, it's not your concern. Let's be happy for these new homeowners!
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Yes, it is mindboggling. But, maybe there was an inheritance used to buy this place. I assumed the unemployed one was employed and had some savings. Plus, living rent free with their moms for a while helped with saving. And, of course, they've indicated renting an area of the house, which should help. And, you only need 3% down to buy a house. Now, the cousin being able to obtain rental properties is another story, especially if all are around the same age.
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I share the concern of the Concerned Citizen. If one plugs in some numbers that can be inferred from the story, the monthly mortgage (without tax, insurance, etc) is about $2500. They will be very strapped for money unless both become employed. As a rule, one should not undertake such a purchase unless one has income stability.
1
Very nice story and sort of rare for the NYT to feature middle-class homebuyers. My advice to KaRon and Leshawn is to make sure that the basement is a 100% legal apartment before you rent it out. From the article it doesn't sound legal.
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Sorry, even though I realize prices in the NYC area are very high compared to the Midwest....$405K is not middle class. The average income in the US is $48,500 (per family, assuming two adults working) and average individual income is $36,000. That would qualify you to buy (very roughly) a $150,000 house or condo. This property is 3 times that much, and only one of the young women here has a job.
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@Concerned Citizen: And this concerns you, how?
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Finally, a "hunt" I could relate to !
19
Cool that you live/work in the Bronx and can walk to your library job. And 4 bathrooms! I had to take a long subway ride to work when I lived in the Bronx.
12
Congrats on your new home! I'm a Bronx native and it is a wonderful borough, so many neighborhoods to explore. Enjoy!
18
I lived north of Bedford Park in the Woodlawn area, but close enough so I could walk there; but then in the 1950's, we walked all over the city. It is a lovely section. I wish the new owners of their lovely home the best of luck and happiness!
21
Congrats on finding your new home. I only wish the article included more photographs of the interior of your beautiful home. (Your living room is totes adorbs.)
31
Agree. The Hunt is my favorite part of the NY Times but I always wish they'd include a slideshow of the final chioce.
30
Agreed! I love the letters on the wall and would love to know more about it.
17
Maybe the owner's declined.
2
Congratulations! You have a HOME!
17
Congrats -- I lived in the Bedford Park area for over a decade and still miss it after almost 20 years gone. Some great spots and a great community. Enjoy!
19
Queens native here who made my own journey to the Bronx three years ago--Congrats, and welcome!
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I grew up in the Bedford Park neighborhood. Lovely and convenient. Enjoy!
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