Best places to live on Long Island for first-time homebuyers
Parting with tens of thousands of dollars in a single transaction is a scary prospect for first-time home buyers. Before laying out that down payment, they want reassurance that a starter home purchase will be a wise investment -- one that will build equity and pave the way for a trade-up in a few years.
The good news is that while prices and mortgage interest rates remain relatively affordable, it's becoming a much safer bet than it was several years ago that the value of a home purchased today will appreciate.
Buyers can expect starter homes to range from $275,000 to $380,000 in Nassau and $250,000 to $350,000 in Suffolk. Search for more starter homes on Newsday Homes.