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Old 04-05-2016, 09:15 AM
 
14 posts, read 14,448 times
Reputation: 32

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Hello city-data mates,
We are looking into purchasing a home, our budget for the home is in the range of 260k-300k MAX.
As for the home, we are looking for a 3-4br 2bath with a decent lot size (10k square feet).

Our issue right now is we are pretty open as far as location has to go, so we really are just looking everywhere we think is an ok area.

Open but not limited to a train ride to work since we are about a block from Secaucus Junction station.

commute = max 1hr from work each way (Secaucus NJ 07093).
property taxes = in the range of but not to exceed $7500/yearly
schools = must have good school system (2 boys 7yo and 3yo)
yearly income = 95k-100k

Main interests are family oriented, outdoors and saftey

Any feedback as far as location goes would be greatly appreciated.
Thanx

Last edited by maeama; 04-05-2016 at 10:44 AM.. Reason: update favorites
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Old 04-05-2016, 12:26 PM
 
Location: Holmdel, NJ
42 posts, read 21,168 times
Reputation: 55
Quote:
Originally Posted by miguelalfonso View Post
budget for the home is in the range of 260k-300k MAX.
3-4br 2bath with a decent lot size (10k square feet).
property taxes = in the range of but not to exceed $7500/yearly
schools = must have good school system

Hmmmmm ...
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Old 04-05-2016, 12:35 PM
 
Location: West Orange, NJ
686 posts, read 1,298,246 times
Reputation: 196
Check out southern Bergen county.
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Old 04-05-2016, 12:36 PM
 
2,082 posts, read 1,243,465 times
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It's going to be north and west at those prices and taxes for that land. So schools become the sticking point. Something's going to have to give, and if it's not budget, which one?
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Old 04-05-2016, 01:10 PM
 
14 posts, read 14,448 times
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Quote:
Originally Posted by jaymoney View Post
It's going to be north and west at those prices and taxes for that land. So schools become the sticking point. Something's going to have to give, and if it's not budget, which one?

Yes, those look to be the best options.
We prefer to crank up the drive 15-20min to get something in the price we desire.

Driving will not be a HUGE issue since my working hours are 7-3:30 with summer closing at 2:30-3.

Main concern is having property for the kids to play around in and a good school system.
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Old 04-05-2016, 01:16 PM
 
Location: NYC
10,095 posts, read 6,080,757 times
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$7500 max property tax does not get you any top school districts unless you settle for a small townhouse.
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Old 04-05-2016, 01:38 PM
 
2,082 posts, read 1,243,465 times
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I think we get that you're willing to drive more, but for that amount of space and those tax prices you're kind of at odds. Higher taxes typically lead to more money being spent on better schools. For example, my school district is pretty good, but I'm paying $6,500 in taxes for something more than your budget with half the space. Good schools invariably lead to higher home prices because they are more desirable.

To get good schools in your budget you're going to probably have to compromise on the lot size or the taxes.
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Old 04-05-2016, 01:50 PM
 
14 posts, read 14,448 times
Reputation: 32
Quote:
Originally Posted by jaymoney View Post
I think we get that you're willing to drive more, but for that amount of space and those tax prices you're kind of at odds. Higher taxes typically lead to more money being spent on better schools. For example, my school district is pretty good, but I'm paying $6,500 in taxes for something more than your budget with half the space. Good schools invariably lead to higher home prices because they are more desirable.

To get good schools in your budget you're going to probably have to compromise on the lot size or the taxes.

Decent schools would be fine. I know we aren't going to be able to get top notch schools for this price.
What size lot do you have?
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Old 04-05-2016, 02:02 PM
 
2,082 posts, read 1,243,465 times
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About 5,000 sf in Cranford, which I think Great Schools gives an 8/9 to. Our 3BR 1BA was still over your budget and I haven't seen anything in town that would meet your budget, let alone a 2BA.

Yes, we are a lot closer to New York than Troy Hills, but even out there those prices don't meet your budget. Further out I-80 gets towns into your budgets, but schools fall into the 6/7 range. So, while you're willing to come down from the 9/10 school districts, how low are you willing to go and what do you consider "decent"?

So, while I'm sure there is probably a home that meets all your criteria, it's going to be very tough to find this year given the market favoring sellers right now.
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Old 04-05-2016, 02:16 PM
 
14 posts, read 14,448 times
Reputation: 32
Quote:
Originally Posted by jaymoney View Post
About 5,000 sf in Cranford, which I think Great Schools gives an 8/9 to. Our 3BR 1BA was still over your budget and I haven't seen anything in town that would meet your budget, let alone a 2BA.

Yes, we are a lot closer to New York than Troy Hills, but even out there those prices don't meet your budget. Further out I-80 gets towns into your budgets, but schools fall into the 6/7 range. So, while you're willing to come down from the 9/10 school districts, how low are you willing to go and what do you consider "decent"?

So, while I'm sure there is probably a home that meets all your criteria, it's going to be very tough to find this year given the market favoring sellers right now.


I am willing to go as low as 7500 sf far as the lot goes and for schools I would consider 6/7 after visiting.

Yes Troy Hills might be out of our range as well. Maybe surrounding cities like Boonton, Denville I was thinking.
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