Rent in Cranford/Westfield/Maplewood? (rental market, condo, mortgage)

[bluetobe]

We need a 4 bedroom 3 bath with a yard, close to NYC transportation preferred. We will want a nice home in a good neighborhood, well maintained.

How much should we be prepared to pay to rent a home such as this?

[kalim2008]

Originally Posted by bluetobe

We need a 4 bedroom 3 bath with a yard, close to NYC transportation preferred. We will want a nice home in a good neighborhood, well maintained.

How much should we be prepared to pay to rent a home such as this?

I've researched this maybe a month back in Cranford because we'll be moving out this summer and am thinking of renting the house. For a 3 bedroom gig, the rent ranges from $2000 to about $3000, a 4 bedroom would arguably rent higher than that, although who knows. We were thinking of quoting $2300 or thereabouts for a 4 bedroom close to a middle school (3 minute walking distance) train/downtown (15 minutes walking, 3 minute driving), and airport (15 minute driving).

ADDENDUM:

I did another fast check...there are 3-bedrooms from $1700 all the way to $3500, and a 4 bedroom at $3500....I probably should raise my quote when we do quote

[E-TOWN-R.I.P.]

Originally Posted by kalim2008

I've researched this maybe a month back in Cranford because we'll be moving out this summer and am thinking of renting the house. For a 3 bedroom gig, the rent ranges from $2000 to about $3000, a 4 bedroom would arguably rent higher than that, although who knows. We were thinking of quoting $2300 or thereabouts for a 4 bedroom close to a middle school (3 minute walking distance) train/downtown (15 minutes walking, 3 minute driving), and airport (15 minute driving).

ADDENDUM:

I did another fast check...there are 3-bedrooms from $1700 all the way to $3500, and a 4 bedroom at $3500....I probably should raise my quote when we do quote

If you find a 3-bedroom for less than $2,500 in Cranford, please be sure to check for cockroaches ... cause something's definitely wrong.

[bluetobe]

I was assuming a minimum of $3,000, but probably closer to $4,000 a month.

[kalim2008]

Originally Posted by bluetobe

I was assuming a minimum of $3,000, but probably closer to $4,000 a month.

You just made my day

[bluetobe]

Originally Posted by kalim2008

You just made my day

For a VERY NICE home, this is what we were guessing - but we'll see next week when we come through town to look around.

It's all about supply and demand, right?

Thanks for the feedback.

[kalim2008]

Originally Posted by bluetobe

For a VERY NICE home, this is what we were guessing - but we'll see next week when we come through town to look around.

It's all about supply and demand, right?

Thanks for the feedback.

The only 4 bedroom available for rent right now is at $3500, so I'm guessing you're correct in the range that you gave. I think unless you want to live in a condo (Cranford Crossing) the single family rental market is tight.

Btw, my wife used to live in Maplewood when a student at Seton Hall. It's also a nice place.

[FUALL]

Originally Posted by bluetobe

I was assuming a minimum of $3,000, but probably closer to $4,000 a month.

Why would anyone pay 4000 bucks a month on rent when they can just buy the house with a mortgage of 3000k/month and get the tax deduction on the interest?

[kalim2008]

Originally Posted by FUALL

Why would anyone pay 4000 bucks a month on rent when they can just buy the house with a mortgage of 3000k/month and get the tax deduction on the interest?

Maybe because they can't get the mortgage to buy a house? You know, can't do the downpayment or not enough credit strength?

[tahiti]

Originally Posted by kalim2008

Maybe because they can't get the mortgage to buy a house? You know, can't do the downpayment or not enough credit strength?

or are temporarily living in the area.