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Old 06-13-2017, 04:55 PM
 
Location: Beverly Hills, CA
25 posts, read 5,161 times
Reputation: 16

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Hi,

Do you have any suggestion which town to buy house that has great appreciation potential? I know Short Hills has a luxury mall and very good school district, but it's too expensive. A 4-bedroom house can cost 2m. How about towns in central NJ, e.g. Edison, Piscataway, Highland Park, etc. With 700-800k, it seems to be sufficient for a decent house in this area. But I am not sure how much appreciation potential these house have.

Generally, only towns that have easy access to NYC (within 1 hr) will be considered. Any suggestion is appreciated.
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Old 06-14-2017, 06:57 AM
 
2,479 posts, read 4,629,881 times
Reputation: 1519
You are seeking investment advice in a city-data forum? Mistake number one.
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Old 06-14-2017, 08:06 AM
 
1,827 posts, read 1,009,517 times
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Try Lucky Pony in the 5th at Belmont.

Your house isn't an investment. It's a house. If it increases in value when you go to sell it, you got lucky. But buy it because it's the right house at the right place for your needs. Invest in the stock market if you want to make money, not your house.
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Old 06-14-2017, 10:36 AM
 
295 posts, read 148,605 times
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Why would anybody tell you, a complete stranger? If anything people will recommend where they already own to drive up their own home value. Do your own research.
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Old 06-14-2017, 12:39 PM
 
Location: Beverly Hills, CA
25 posts, read 5,161 times
Reputation: 16
Quote:
Originally Posted by j0nx View Post
Why would anybody tell you, a complete stranger? If anything people will recommend where they already own to drive up their own home value. Do your own research.
Yes you can tell me houses in your town are good investments. Asking in a forum is one of the ways that I do my own research.
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Old 06-14-2017, 12:44 PM
 
Location: Beverly Hills, CA
25 posts, read 5,161 times
Reputation: 16
Quote:
Originally Posted by jaymoney View Post
Try Lucky Pony in the 5th at Belmont.

Your house isn't an investment. It's a house. If it increases in value when you go to sell it, you got lucky. But buy it because it's the right house at the right place for your needs. Invest in the stock market if you want to make money, not your house.
Yes you are right. But the location for me is relatively flexible. North & Central NJ are both OK. Consequently many houses can satisfy my needs, of course I prefer the one with the most appreciation potential.

Besides, people can make money from house by rent, especially those near colleges.
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Old 06-14-2017, 01:10 PM
 
1,827 posts, read 1,009,517 times
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Until the renter causes more than the deposit is worth. Like a previous tenant my landlord told me about that painted all the walls black with oil paint. Or the friend of mine that moved in with me for a month after their roommate left a candle burning on the top of the toilet and it exploded, starting a fire in the apartment.

Sure, college students are the best renters.

Buy low, sell high. Traipsing Matilda in the 3rd at Pimlico.
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Old 06-14-2017, 01:13 PM
 
23 posts, read 44,201 times
Reputation: 17
Just because an area is expensive already doesn't mean it is a bad investment.. Actually, I'd say that Short Hills / Millburn, if you can afford it, has investment benefits mainly because of the liquidity. If you have a well priced house in a good location (the Glenwood area for example), it will fly off the market. Also, the areas that are most expensive are so because of the demand - typically this will mean last to dive and quickest to recover from macro economic fluctuations....
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Old 06-14-2017, 05:00 PM
 
581 posts, read 401,134 times
Reputation: 440
Try Newark they offer up the houses for $1 regularly.
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Old 06-14-2017, 05:19 PM
 
8,543 posts, read 11,527,651 times
Reputation: 7866
In Short Hills, they're still knocking down small houses and building pocket mansions. In Essex Fells, they're knocking down old large houses and building new even-larger houses. So there seems to be plenty of potential at the high end, short term. Longer term, I'd look at places the overflow is going to go. Or you can buy cheap in Newark/Irvington/Paterson/Orange/East Orange, but you might find betting on the horses to be a better use of your money.
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