An example of my dream apartment -- anyone have 8-10 million dollars to loan us? Or better yet, a generous wedding gift?! Haha.
Because of our budget we are limited in location and we know we want to remain in Manhattan proper (not move to NJ, Queens or far out in Brooklyn). So our search has been limited to upper Manhattan. The most helpful website we've found while hunting for a place in the city has been www.streeteasy.com.
Streeteasy is pretty comprehensive, pulls from all different real estate agencies listings and gives some really helpful information like how long the property has been on the market, the asking price history etc. I feel like we've learned so much in just the past month and can't wait to take that step. We've been pre-approved for a mortgage and are working with an real estate agent we trust so when we find the best place for us we're ready to make an offer.
But before you can get to that big step you have to address your financial situation. I'd highly recommend you have this conversation while you're still engaged long before the wedding. Find out what kind of debt you each have -- credit cards, college loans, car payments etc. Then talk about savings -- how much do you each have saved, do you have a retirement account, what is your outlook on long term saving? Everyone has a different approach to personal finances and knowing where you each stand BEFORE the wedding will make big financial decisions easier to make down the road. The last thing you want is to be turned down for a mortgage because one of you had terrible credit and were too scared to tell the other.
Any advice from those of you who've already bought your first place together? I'm interested to hear from NYC apartment owners as well as just general feedback from all over the country.
