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We are moving to NJ soon. The rents seem to be high and we are considering buying a condo in edison/metuchen/piscataway. We can put down about 100K . This way we don't have to waste 1400-1600 p/m on rent .
We plan to live there for about 1-2 yr b4 moving into a single family home ( sell or rent the condo ) What do you guys think ?
We are moving to NJ soon. The rents seem to be high and we are considering buying a condo in edison/metuchen/piscataway. We can put down about 100K . This way we don't have to waste 1400-1600 p/m on rent .
We plan to live there for about 1-2 yr b4 moving into a single family home ( sell or rent the condo ) What do you guys think ?
Location: Lived Large in Parsippany NJ - Lived Larger in Livingston, NJ -- Now Living Huge in Bethlehem PA
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Definitely Rent First
Quote:
Originally Posted by mann
We are moving to NJ soon. The rents seem to be high and we are considering buying a condo in edison/metuchen/piscataway. We can put down about 100K . This way we don't have to waste 1400-1600 p/m on rent .
We plan to live there for about 1-2 yr b4 moving into a single family home ( sell or rent the condo ) What do you guys think ?
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I would definitely rent for about 6 months whiles I check out the area - then once I find what exactly am looking for in a very nice area I will take the mortgage leap.
If you have a $100k to put down, I will put that down on the single family house not a condo - as you know by now the RE market is in a big mess and trying to sell a property has become a mission impossible.
Anyways just my $0.02 - I just moved out of NJ and still trying to sell my property in Livingston.
In Edison, Metuchen, & Piscataway you can get a two bedroom condo in the low to mid $300s. 3 or 4 Bedrooms can go up to $450K depending on location, number of bedrooms, and age.
Da, i was surprised to know you had hard time to sell this time. I thought the market was still ok in central jersey area and good towns like livingston. Is your house priced too high to comps?
I wouldn't buy a house in the current market of dropping prices, unless your plan is to live there for a while. In 1 or 2 years, you might find yourself underwater on that condo.
Da, i was surprised to know you had hard time to sell this time. I thought the market was still ok in central jersey area and good towns like livingston. Is your house priced too high to comps?
Lin, I sold last year in Manalapan, great schools, and the prices went down last year but are dropping bottom this year. The town is also in a reaccesment process and the property taxes are increasing big time.
I am so lucky to be out of such a corrupt state
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