Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
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.
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.
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.
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.
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.
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.
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....
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.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
