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New townhome for about 30K more than pre-owned ones that are being sold in south brunswick. Also this community has clubhouse and other features which do not seem to exist in other neighborhoods in SB. It was an easy decision we went ahead and booked one.
500k for an end unit townhome with a basement before upgrades. When will the madness end smh
Not to keep up with the zombie thread- but Tony i 100% agree here..this new construction bubble will pop and pop ugly at some point....
Not too familiar with the Brunswicks post college- but is a similar deal to Monroe type bubble for new construction??
Not to keep up with the zombie thread- but Tony i 100% agree here..this new construction bubble will pop and pop ugly at some point....
Not too familiar with the Brunswicks post college- but is a similar deal to Monroe type bubble for new construction??
Yes.
From my observations, an overwhelming majority of all new construction is bought by south asians in middlesex county. I have a younger south asian coworker i am cool with and he tells me that south asians only want new construction. The builders know this, and will buy land anywhere they can, and mark it up accordingly for the multi-gens. There are new homes in North Brunswick going for 670K, that is absurd.
Putting a pin in the multi generation under one roof aspect for a second, do these people realize when they go to sell their homes they won't be new anymore either. Just huge boxes on small lots in previously undesired spots
Did anyone book a townhome? Is it a good buy for 500K? how much are they charging for upgrades?
Highly overpriced at 500k for a 3BR townhouse. But if you are defining "overpriced" as in if the price would fall in near future, the answer is plain and simple "No". The demand in South Brunswick far surpases the market inventory and hence the inflated market conditions. New constructions especially go at a premium, however mind boggling it might seem to everyone but the the buyers.
Highly overpriced at 500k for a 3BR townhouse. But if you are defining "overpriced" as in if the price would fall in near future, the answer is plain and simple "No". The demand in South Brunswick far surpases the market inventory and hence the inflated market conditions. New constructions especially go at a premium, however mind boggling it might seem to everyone but the the buyers.
I look at it as - "overpriced" as in 5 years from now if owners need to sell why would anyone pay 100K+ more for these than comporable ones that are 5-10 years older and much bigger- and these are 2K sq ft townhomes!!!!!
I called their sales office earlier and was told that there is no availability currently and also the prices have gone up. Can someone please share the initial pricing they got from the builder for different models basement and non-basement?
I called their sales office earlier and was told that there is no availability currently and also the prices have gone up. Can someone please share the initial pricing they got from the builder for different models basement and non-basement?
good luck to those people when they need ot sell...
I look at it as - "overpriced" as in 5 years from now if owners need to sell why would anyone pay 100K+ more for these than comporable ones that are 5-10 years older and much bigger- and these are 2K sq ft townhomes!!!!!
Well, 20 year old 3BR townhouses with finished basements are already selling in the 450-460k range in South Brunswick since 2012. Though 500k sounds crazy, comparing against the 20 year old townhouses that are selling for 450k+, it doesn't appear too bad considering the premium for new build.
But irrespective of any justification, these prices are very high and I seriously doubt how much room there is for the prices to grow beyond a point. Makes home ownership very expensive for middle class.
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