Note: With my break drawing to a close, alas, normal frequency of posts resumes Monday.
Let’s say you bought a new home five years ago, a year before Manhattan’s residential market nosedived.
And let’s assume you coughed up $1 million for the privilege of living in your modest 870-sf apartment with two small bedrooms plus one and a half baths on the Upper West Side.
The third set of assumptions might be monthly mortgage payments of $3,500, maintenance of $1,400 and other ownership expenses such as insurance and maintenance of $100 a month.
Do you wish that you had waited until now to have made the purchase?
If you are like many other former homebuyers, (more…)