Place to live with Salary of 40k+ (Newark, Jersey City: rent, HOA)

[christina0001]

North Jersey is so expensive. You might do better in PA or in south Jersey. I agree with the previous poster who said with an income of $40k-ish, it would be difficult to take on a mortgage over $100k. So really what you can afford will depend on the sale of your current home and how much money you will then have to put towards the purchase of your new home. Being that you have an adult daughter, I'm assuming you don't need a lot of space, so you might be able to find a condo or small home for a reasonable price. The housing market is slowing down and you might be able to find a rare, hard to sell 2 bedroom home for a good price.

[CrazyJerzyKidUNO]

there are nice parts of Paterson that are cheap. Just look around that area.

[GoingtoPA]

Originally Posted by CrazyJerzyKidUNO

there are nice parts of Paterson that are cheap. Just look around that area.

But is Paterson safe?
Thanks

[doc1]

I can't even imagine what kind of life one would have if they were trying to support a family in NJ for 40K/year.

[lammius]

You can make it work. I rented an awesome Jr 1-bedroom in Highland Park, NJ for $869/month last year. Great town, nice sense of community, not far from North Jersey.

[Carat98]

Originally Posted by GoingtoPA

OK guys don't laugh.....LOL I would rather live in New Jersey than have to move over to Pa. after my home sells in TN. I have a daughter in Bergan Co. I know that co. is impossible.....where could I live with a 40,000+ salary and a small savings in the bank. I would love to buy a small house. My job will be in sales. So I would travel over the state. Any help would be greatly appeciated.
Thanks in advance......

I agree with someone else on this board. You may have to make some concessions, but it can be done. Keep looking, living with your daughter. I have a somewhat similar situation. Best to you.

[LittleMissSunshine]

40,000$ for a family would not be a good thing, but if you're a single person definately do-able depending I guess on how much money you're getting for the house you're selling. And if not, then renting may be a better route. If you were going to go the apartment route, they may widen your options alot for getting in or near Bergen County.

[njchick]

There are many older adult (50+) communities going up, with some condos going for between $325,000 - $450,000, my parents just bought one. I don't know if this price range would be good for you, but that's probably as good as you're going to get right now. Who knows, maybe the prices will go down further when you are ready to buy.

[GoingtoPA]

Originally Posted by doc1

I can't even imagine what kind of life one would have if they were trying to support a family in NJ for 40K/year.

I have no children at home. I will be living alone, except for my dog. I will also be making commission. 40K is a base salary.

[GoingtoPA]

Originally Posted by njchick

There are many older adult (50+) communities going up, with some condos going for between $325,000 - $450,000, my parents just bought one. I don't know if this price range would be good for you, but that's probably as good as you're going to get right now. Who knows, maybe the prices will go down further when you are ready to buy.

Most of the adult communities that I have found are 55+ and I am not yet 55. I am not sure if I would want to live with all the rules that these type of communities have. But, I have thought that I could visit one or two of them and see first hand.