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We used to live in Northern NJ. We wanted to start a family so started looking a buying a home. Like many have mentioned a good home, in a safe area, with good schools, and enough room to grow into will cost you $500k on the low side and the taxes are just crazy. We ended up rethinking everything that was important to us, made some career changes and decided to move to south jersey. We found an amazing forever home about 2.5x our income or 21-22% of our monthly gross.
Unfortunately up there you'll likely have to give up something.. I strongly suggest building a tight budget and talking to a financial planner before pulling the trigger.
I don't even think of my area as north jersey. Problem is I'm stuck here unless I want a hellish commute and to be away from family/friends.
It's renting for me for now. Maybe I'll win the lottery.
I bought, paid $460k and my mortgage is in the ~$2600 range. It's been fine and I don't feel house poor. FWIW.
And I am sure you have had a decent bit of appreciation if you bought back in 2015.
Glad it’s working out for you
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