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Old 02-01-2012, 11:44 AM
 
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I have been staying on the south side of Edison (Edison Glen) for close to 1 year now, and have been pretty satisfied with the convenience of being close to major highways and supermarkets. My current lease will end in a few months, and I am planning on buying a condo/townhouse (<250k-300k) in Edison, partly as an investment.

I heard my colleagues say that north Edison is substantially better than south Edison mostly because of better schools. And I am just curious what people's opinions are in terms of which area is better? One concern I have is that I may be moving out of NJ in a couple of years for my job, and may need to rent this property out, hence ideally I would like to purchase a condo that can easily attract renters. I would also be grateful if I could be provided with a few names of the good condominium complexes in Edison.

Any feedback will be highly appreciated. Thanks.
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Old 02-01-2012, 12:10 PM
 
Location: New Jersey
2,060 posts, read 4,022,475 times
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Quote:
Originally Posted by fzpanda View Post
I have been staying on the south side of Edison (Edison Glen) for close to 1 year now, and have been pretty satisfied with the convenience of being close to major highways and supermarkets. My current lease will end in a few months, and I am planning on buying a condo/townhouse (<250k-300k) in Edison, partly as an investment.

I heard my colleagues say that north Edison is substantially better than south Edison mostly because of better schools. And I am just curious what people's opinions are in terms of which area is better? One concern I have is that I may be moving out of NJ in a couple of years for my job, and may need to rent this property out, hence ideally I would like to purchase a condo that can easily attract renters. I would also be grateful if I could be provided with a few names of the good condominium complexes in Edison.

Any feedback will be highly appreciated. Thanks.
If you plan to move out in a couple years, better not buy (unless you plan to move back here and live in the condo). Edison and nearby towns have tens of thousands of apartments that are professionally managed. Not sure if you will have a tough time competing against them but you surely won't make money out of this 'investment' property.

Last edited by davenj08; 02-01-2012 at 12:17 PM.. Reason: fixed a typo
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Old 02-01-2012, 08:17 PM
 
64 posts, read 785,582 times
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Quote:
Originally Posted by davenj08 View Post
If you plan to move out in a couple years, better not buy (unless you plan to move back here and live in the condo).
I agree that buying a property for the short term is not a great idea. But it seems like I will be paying the same amount of money for mortgage+property tax+HOA vs. so I figured why pay others' mortgage?


Quote:
Originally Posted by davenj08 View Post
Edison and nearby towns have tens of thousands of apartments that are professionally managed. Not sure if you will have a tough time competing against them but you surely won't make money out of this 'investment' property.
My general impression is that not many apartment complexes have townhouses, which are far more spacious and private than typical apartments.
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Old 02-01-2012, 08:18 PM
 
64 posts, read 785,582 times
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Also just out of curiosity, do people think housing price in Edison/NJ will rebound eventually?
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