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Old 05-09-2010, 10:24 AM
 
10 posts, read 29,045 times
Reputation: 10

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Looking at condos between Jersey City Heights and Newark Forest Hill area...

The one in JC Heights is a 650 sqft 1 bed 1 bath in a smaller garden apt building right across the street from the light rail elevator.

The one in Forest Hill Newark is a 2 bed 2 bath unit in a high rise building on Mt. Prospect.

Both have off street parking. Both need some updating and sprucing up.

The 1bed 1 bath in JC Heights is more money than the Newark Forest Hill unit, but the HOA fee covers all of the utilities except electric. The Newark unit is way less but the HOA fees and the taxes are much higher, and don't cover quite as much - because of this, the two units would wind up costing nearly the same amount each month, with Newark offering much more space.

For me, I'd love the idea of a 2 bed 2 bath... I think it offers more flexibility over a longer period of time, whereas a 1 bed I'd outgrow sooner. (I'm a late 20's single female)

However, the issue of location we know is first and foremost in real estate investment. The JC Heights location is very convenient with a great view of the NYC skyline. But the Newark Forest Hill unit has the better space and there's a bus stop right out front to Penn Station.

As a first time homebuyer purchase I want to know...

Which would be the better investment?
What's the better area in terms of quality of life?
What if renting the space was prohibited and I could only resell the property when I wanted to move?
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Old 05-09-2010, 10:48 AM
 
Location: The Allegheny
1,283 posts, read 1,546,590 times
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If you want to be near NYC so much than JC Heights is the better investment. And the high rises on Mt. Prospect are below Heller Parkway, but there are no buses to Penn Station exactly--you'd have to either transfer downtown to another bus/light rail, get off downtown on Broad Street and walk, or take a Bloomfield-bound 27 bus up to Franklin Avenue and transfer to the subway to get to Penn Station. Or just walk up to Heller Parkway and take DeCamp into Port Authority. Whereas in JC Heights(I'm assuming you mean by Congress St), there's an NJT bus that goes directly into Port Authority.

It really depends on where you work. Like I said, if you need to be near NYC, JC Heights is a better choice. Forest Hill looks and feels more suburban than JC Heights(I know from experience), but it might not matter to you if you need to be closer to Manhattan.

Wait, didn't you already start 3 threads on this?

Last edited by Marv95; 05-09-2010 at 10:57 AM..
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Old 05-09-2010, 12:06 PM
 
Location: New Jersey
496 posts, read 992,860 times
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JC Heights, there's no debate.
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Old 05-09-2010, 05:04 PM
 
2,873 posts, read 5,604,487 times
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Forest Hills is definitely more suburban, but does not offer even close to the convenient accessibility Manhattan when compared to the Heights.
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Old 05-10-2010, 01:25 PM
 
Location: stuck
1,322 posts, read 3,875,444 times
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how long are you really willing to live in a 650 sq ft apt? i used to live in a box like that because i too, wanted a "view". you should check both neighborhoods out at different times per day, week, weekend before deciding.
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Old 05-10-2010, 01:59 PM
 
Location: Hoboken
19,889 posts, read 17,151,274 times
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From an investment perspective it is probably a wash.
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Old 05-10-2010, 03:23 PM
 
10 posts, read 29,045 times
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@ Marv95, I did do 3 other threads (my first thread posts to this forum, and it took me a few times to make sure I put it in the correct section), but my comparisons before were between the Heights and Ironbound or Society Hill Newark.

I'm a first time homebuyer so pardom the redundancy of my questions and posts... I just need as much insight as I can.

Thanks all for your responses
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Old 05-12-2010, 12:00 PM
 
Location: Westerly, RI
381 posts, read 1,197,579 times
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I can't speak to Newark (although that neighborhood is on my list of places to check out) but a 650 sq foot condo in the Heights doesn't sound like a great investment to me. It's a handy but not a lively neighborhood as far as young English-speaking women are concerned. I think it could get lonely. JMO.

If you're willing to go that small, are you sure you can't find something in downtown JC, or maybe even WNY where there seem to be lots of young professional commuters?
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Old 05-16-2010, 11:22 PM
 
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Downtown JC is great but is definitely out of my price range, added to that I have to have off-street parking which is even more coveted and comes with a heftier price tag IF it's even available.
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