This was very insightful and I will look into the options a bit further.

Being a NYC resident (originally from Long Island), the price of entry in the area is on the higher end, so I've been considering some options in the NY Capitol region, as well as NJ and CT.

Read my Utilities 101 below to see some options.

Also, after a year, the mortgage hasn't been paid down by much, especially if it's a 30 year mortgage.The only challenge you may run into is if you purchased it using a low or no money down mortgage option like FHA or VA lending.

I can get prime-0.51% on a HELOC but I don't love the risk to my monthly payments if rates rise - that is why I like the fixed second mortgage option. 

Looking forward to reviewing these options.

Some of my costs above are optional but not all.

Consider house hacking by purchasing a multi-family property with an FHA loan, or explore creative financing options like seller financing or partnering with private lenders.

But it would be nice to have an option to uncheck that box this time around since they're already in place.

Creative financing options like seller financing or assuming a low-interest FHA loan can also help you secure better terms.