Home Buying in Nyack>Question Details

arianaschmie…, Home Buyer in Nyack, NY

who can afford a house thats over 3 million dollars?

Asked by arianaschmiedebusch, Nyack, NY Fri Mar 7, 2014

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Answers

10
Those who end up buying such properties....
1 vote Thank Flag Link Fri Mar 7, 2014
Odds are that the current owner and the surrounding neighbors could.
1 vote Thank Flag Link Fri Mar 7, 2014
Most people in Manhattan- since the price of living is so high and just a 2 bedroom can be 3 million!
0 votes Thank Flag Link Sat Feb 21, 2015
I just ran the scenario which was based on current interest rates & available programs. Assuming the homebuyer(s) had zero monthly debts (credit cards with $0 balances, no other loans, etc.) they'd need a minimum income of roughly $400,000 assuming property taxes were $30,000. Keep in mind this could be a combined income between multiple borrowers.

Kind regards,


Paul F. Marzolla
Sr. Mortgage Consultant
____________________

(201) 957-6768
info@paulmarzolla.com
0 votes Thank Flag Link Wed Apr 9, 2014
I think you need to be making around $500k -$600k a year to afford that and cover the 12,000k mortgage, $30k in taxes...
0 votes Thank Flag Link Fri Mar 14, 2014
I think you need to be making around $500k -$600k a year to afford that and cover the 12,000k mortgage, $30k in taxes...
0 votes Thank Flag Link Fri Mar 14, 2014
Not me! :( I'm in the same boat... Positive thoughts are keys to happiness not a house is what I'm learning...neither nice clothes...neither a nicer car... neither eating out or just being able to enjoy a vacation... But I tell you it may be the keys but it absolutely stinks! Whoever said money doesn't buy happiness couldn't have been poor by Jeannette Batsikas
0 votes Thank Flag Link Fri Mar 7, 2014
Only $3 million? There is a penthouse in Manhattan asking over a $100 million . Love to have the commission on that one (laughing). And while ?who can afford $3 million for a house?? is a great question, in the real estate market the "real" question is - ?is the home worth $3 million?? If yes than it will sell but if NOT, then it will be for sale for a long, long time. You might enjoy going to my website http://GeorgeC21.com and looking at some of the multi-million dollar homes - some are truly spectacular while others are so much more pedestrian. Real Estate is like the movies and fashion - every one has an opinion and it is great conversation topic. Just keep this thought with you, when time comes to sell, do you want a fantasy agent or a fantastic agent. Your confidential questions are welcome at 201-259-3759. Best wishes and enjoy the pictures on my website.
0 votes Thank Flag Link Fri Mar 7, 2014
Hello, as an Agent in this area there are obviously some homes that come with a hefty price tag. We have Movie & Entertainment Industry people here as well as many prestigious Doctors & Attorneys, etc. As for you & me that price tag is unrealistic, others that want their "trophy home" it is not. Allan
0 votes Thank Flag Link Fri Mar 7, 2014
Well - walk down Wall St - just for starters, you''ll find a lot of people working there who can afford it!
0 votes Thank Flag Link Fri Mar 7, 2014
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