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:: Home :: How it all started

Back in March Mr. P and I began seriously discussing plonking down money for a place of our own; location was obviously the first thing we had to decide on. We short listed Singapore (my family is there to manage property and we may eventually move back), London (Mr. P knows the market and has a good credit standing) and New York (we can stop paying rent in NYC).

Mr. P had fancied Singapore (and HK) for years but timing wasn’t on our side; rule changes and rapidly rising prices meant we get a lot less mileage for our budget.

I chose London – it’s possibly our next move since I think it has a better education system (zed zed zed not zzz) than the US. One deterrence was the hefty management fees of owning a rental property. And Mr. P made a valid point that he would rather be paying mortgage on a place we live in than carry on pissing our money away on rent.

That left us with the States. The shortage of inventory (near / at historical lows) and pent up demand meant crazy bidding wars and all cash offers (I wonder if anyone ever walked into an open house with a case full of cash?). For the amount of space we wanted, we simply could not afford Manhattan (up to 96th st). Brooklyn was the obvious alternative even if I weren’t entirely convinced. I’m just not the boho, artsy, organic eating sort (plus the gun threat is very real).

There was also the issue of credit history (which in turn affects credit score) . It pretty much drives one’s life in the states. Being here for less than a year would present some challenges in securing a mortgage. Mr. P made a call to HSBC (HolyShitBullCrap) in April who amazingly issued a pre-approval. We could actually house hunt!

Then we found out about the 1.925% NYC mortgage tax which ruled out Brooklyn (yay for me). We had to look further afield.

On Mother’s Day, we headed to Hoboken.

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