There is some variation in the 40 times number both up and down.
You should first go to a mortgage banker & get pre qualified. I find most of my buyers who come in search for a home first want to look then find out of they qualify--- this is wrong. First run the numbers and see what price bracket you should be looking for. There are always home for sale and you will eventually find the one that fits you best.
I read your question and all the answers. Before you look or contact a broker I'd advise you try to define for yourself the actual LIFESTYLE you imagine for you and your family. Ask each member individually how they imagine their life to be in the near future prior to the move then the geographic picture of where that LIFE fits will begin to emerge. NY is a great life experience, and you can make most of it by choosing to live in the location that most fits everyone in the family. Once you determine that, the square footage, amenities and all else will become secondary and you will have a much better handle as to what you want and what you are willing to do to get it.
It must be daunting to think of moving with your family into the city. It's a big step and you want to do it right! There are a few things you might want to ask yourself such as, how many bedrooms, whats your budget?, which neighborhood would you like, are there some features and amenities you think you'd like?
Please feel free to give me a call at 212-518-3030. My name is John and I look forward to helping you in your search!
Natalie J. Frazier
Real Estate Salesperson, REALTORÂ®
Please feel free to give me a call at your convenience and I will be happy to answer any questions you may have in regards to finding your new home!
Licensed Real Estate Professional
Home New York
Charlie Summers, Bellmarc Realty 917-376-1648