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What are your thoughts on this town? There are a couple new construction neighborhoods coming up in the $1.2-1.5 million price range. Does anyone know this area well and the areas of the new construction- are they good areas? How do these new builds impact existing home prices?
What are your thoughts on this town? There are a couple new construction neighborhoods coming up in the $1.2-1.5 million price range. Does anyone know this area well and the areas of the new construction- are they good areas? How do these new builds impact existing home prices?
you would be lucky to end up under $1.5 million for the holmdel reserve. the other community is a little less expensive and a little less desirable location but they still have it priced pretty high.
Would you say these communities are overpriced for the area?
i know more about the holmdel reserve than the other one. i would say that you are paying a significant premium for being in a new construction home. with the reserve, you are in the bell works complex which hopefully will develop into a nice community with a big of a live/play/work thing going on which can be pretty cool. you can compare the pricing at the bamm hollow community to see what the premium is that they put on being in holmdel & bell works. the bamm hollow community is very expensive also, looking at the same model in both places, i see the stallworth is 150k more in holmdel reserve. they say to expect to pay 20% on top of that in choosing stuff for the house plus a lot premium. so you are at like $1.6 million in holmdel reserve for maybe a 4,500 square foot house, thats about $355/square foot (significantly above the holmdel resale market) and you still probably have an unfinished basement.
so at the end of the day, the economics of it are pretty poor but if you have the money to burn; you will probably be happy.
Last edited by CaptainNJ; 10-11-2016 at 02:54 PM..
Upon completion of the site, each of the 40 homes will cost anywhere between $2m to $3m.
Reserve at Holmdel or Holmdel Reserve built by Toll Brothers will cost anywhere between $1.7m minimum for a 4,000sq home to $2.5m for 8,000sq home depending on the lot premium, options and upgrades. Perhaps much more depending on your taste for customization/options they offer.
Landscaping + backyard/pool should add another $300k-$500k and most likely another $150-250k to finish up the basement.
I have been thinking about buying with Toll Brothers in Holmdel, but it's not cheap and it's one of those things where it takes some time to decide.
At the same time, there aren't too many "new" homes in Holmdel, Colts Neck and Marlboro area.
My big question is $2-$3m home in Holmdel even realistic?
Upon completion of the site, each of the 40 homes will cost anywhere between $2m to $3m.
Reserve at Holmdel or Holmdel Reserve built by Toll Brothers will cost anywhere between $1.7m minimum for a 4,000sq home to $2.5m for 8,000sq home depending on the lot premium, options and upgrades. Perhaps much more depending on your taste for customization/options they offer.
Landscaping + backyard/pool should add another $300k-$500k and most likely another $150-250k to finish up the basement.
I have been thinking about buying with Toll Brothers in Holmdel, but it's not cheap and it's one of those things where it takes some time to decide.
At the same time, there aren't too many "new" homes in Holmdel, Colts Neck and Marlboro area.
My big question is $2-$3m home in Holmdel even realistic?
i just took a look at what has closed in the estates at bamm hallow and i see homes as low as just under $1 million and a house above $1.6 million. i dont see anything that has closed in holmdel reserve yet. some may or may not include a finished basement. landscaping and pool will be on you after closing i guess. i figure the reserve will probably average 300k or so more expensive than the bamm hallow prices. so you should be able to get in for well under $3 million (woohoo!)
im not exactly sure if that is what you meant by asking it 2-3 million in holmdel is realistic. most houses in holmdel sell for well below $2 million.
im not exactly sure if that is what you meant by asking it 2-3 million in holmdel is realistic. most houses in holmdel sell for well below $2 million.
I should have been much clear with the question. Does it even make sense to spend $2 to 3m for a house in Holmdel?
From what I can see there were only a few number of homes in Holmdel that sold for $2m or more over the past 3 years. Perhaps, majority of the larger homes in Holmdel are at least 20-30 years old and can't command such pricing.
i just took a look at what has closed in the estates at bamm hallow and i see homes as low as just under $1 million and a house above $1.6 million. i dont see anything that has closed in holmdel reserve yet.
I just drove by the community and it looks like a number of them may have closed based on the lights being turned on and I don't think the transaction/tax records would be updated for another 3-6 months.
As far as Bamm hollow goes, you're right... there are homes that have closed just a few dollars under $1m, but do see a bunch that have sold for $1.7m to $1.8m and there's one for $2.1m on Windermere Rd according to http://tax1.co.monmouth.nj.us
How does this town compare to Basking Ridge, esp. for raising kids, schooling etc? I have to get into Staten Island, and the commute from Holmdel is about 20 minutes less when compared to Basking Ridge.
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