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have been looking in wood-ridge, nutley & rutherford due to the express bus to nyc. we saw a house in wood-ridge that we really like. i know rutherford is considered to be slightly better than wood-ridge.
can you give me some info on wood-ridge? we have no kids but may be sending our kids to the elementary there in 5-7 years which would be catherine doyle elementary.
the house we like is $550k asking and all re-done. our realtor told us that is high for wood-ridge & we might not make back our money in 5-7 years- is this accurate?
I live in Wood Ridge. Houses currently listed in wood ridge go up to 700k in price. Nicer houses are definitely north of 400 even maybe 450. 550 is not too far away. If the house is redone and you like it it may make sense.
Personally for 550 I would look in other towns, say Fairlawn and maybe Paramus (may be priced out) which have better schools.
It all comes down to you and what is important. Would you rather have a nicer home and ok schools or better schools and an ok home? There is a direct relationship between price and schooling in NJ.
As for Wood Ridge, I like the town. The commute into the city is great, 25-35 min gets you to port authority or back home. Busese are rarely crowded and come often. Town is very small and I have never felt unsafe.
I live in Wood Ridge. Houses currently listed in wood ridge go up to 700k in price. Nicer houses are definitely north of 400 even maybe 450. 550 is not too far away. If the house is redone and you like it it may make sense.
Personally for 550 I would look in other towns, say Fairlawn and maybe Paramus (may be priced out) which have better schools.
It all comes down to you and what is important. Would you rather have a nicer home and ok schools or better schools and an ok home? There is a direct relationship between price and schooling in NJ.
As for Wood Ridge, I like the town. The commute into the city is great, 25-35 min gets you to port authority or back home. Busese are rarely crowded and come often. Town is very small and I have never felt unsafe.
fair lawn and paramus aren't an option for us because of the commute to nyc. my husband works in downtown manhattan & he really needs an express bus that is below 30 minutes. we looked in fair lawn & liked a house at simliar price but the commute would not be good & the taxes were about $5k higher than in wood-ridge.
also we don't currently have any children. would plan to move w/in 7 yearsd. our realtor is concerned about re-sale value. if we bought for $510-520 do you think we'd be able to sell for higher in 5-7 years?
I don't know whats going to happen next year let alone 5-7 years from now. We have been through (are in) the worst economic situation since the great depression.
If your realtor is worried you probably should be as well. Like I said, I wouldn't buy a house in Wood Ridge for 550 but others may and in fact are.
fair lawn and paramus aren't an option for us because of the commute to nyc. my husband works in downtown manhattan & he really needs an express bus that is below 30 minutes. we looked in fair lawn & liked a house at simliar price but the commute would not be good & the taxes were about $5k higher than in wood-ridge.
also we don't currently have any children. would plan to move w/in 7 yearsd. our realtor is concerned about re-sale value. if we bought for $510-520 do you think we'd be able to sell for higher in 5-7 years?
In my opinion, never buy a house with a plan to move in 5-7 years (unless you are ok with losing money should that happen). You have no idea what the market is going to be like then. Buy something that you could stay in forever if you had to.
If your realtor is telling you it is too high, then that is a big warning sign to me. Some experts out there say that you don't want to be the most expensive house in town, in terms of resale value. Maybe that is what your realtor is trying to say?
But if you are ok with the price, then that's all that matters.
fair lawn and paramus aren't an option for us because of the commute to nyc. my husband works in downtown manhattan & he really needs an express bus that is below 30 minutes. we looked in fair lawn & liked a house at simliar price but the commute would not be good & the taxes were about $5k higher than in wood-ridge.
There are no express buses from Wood-Ridge to downtown Manhattan in 30 minutes.
There are no express buses from Wood-Ridge to downtown Manhattan in 30 minutes.
the 163 is 25 minutes give or take according to nj transit. he takes the 190 or 199 now from lyndhurst & the time on njtransit is accurate. i meant 25 minutes to port authority, not downtown. 25 minutes to port authority is good in my opinion vs 45 mins to an hour from paramus or fair lawn.
If you're doubting the price, always hold off until something else comes on the market (new houses are always going up for sale). In this market, there are plenty of places to choose from and with Spring here, there will be even more houses coming on the market. Also, if yoru realtor is saying it's priced too high, listen to her. Her job is to know the market and what houses are going for.
$550K is a little high for Woodridge unless the house is really large and has a great deal to offer.
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