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Old 12-27-2010, 11:59 AM
 
Location: Los Angeles - Mar Vista
1 posts, read 1,102 times
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Hi all. We recently sold our home and got a good chunk of change here in L.A. We are looking to buy a home cash in N. New Jersey since prices are so cheap , mid 300,000 range. Found a couple of them that we really liked, but the "basements" concern me. Most of the pics look very dirty and "unfinished" in the basement. what do you think it would cost to make it clean and like another room
down there? typically i ask...
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Old 12-27-2010, 12:22 PM
 
Location: Elsewhere
70,960 posts, read 66,687,191 times
Reputation: 88364
Quote:
Originally Posted by GoingOutEastCheap View Post
Hi all. We recently sold our home and got a good chunk of change here in L.A. We are looking to buy a home cash in N. New Jersey since prices are so cheap , mid 300,000 range. Found a couple of them that we really liked, but the "basements" concern me. Most of the pics look very dirty and "unfinished" in the basement. what do you think it would cost to make it clean and like another room
down there? typically i ask...
LOL, prices in NJ are certainly not cheap, but you are looking in the lower price ranges so that's probably why you are getting places with unfinished basements. Prices would vary according to the size and what you would want done and what part of NJ you are looking at. If you are looking at cheaper properties, keep in mind that you might be looking in flood zones.

Did you have a specific area in north Jersey that you had in mind?
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Old 12-27-2010, 01:19 PM
 
3,984 posts, read 6,505,067 times
Reputation: 2881
Quote:
Originally Posted by GoingOutEastCheap View Post
Hi all. We recently sold our home and got a good chunk of change here in L.A. We are looking to buy a home cash in N. New Jersey since prices are so cheap , mid 300,000 range. Found a couple of them that we really liked, but the "basements" concern me. Most of the pics look very dirty and "unfinished" in the basement. what do you think it would cost to make it clean and like another room
down there? typically i ask...
Think of NJ as being constructed from North to South. Northern construction generally started first before WWII and after as people left NYC for the 'burbs. I assume that these are the types of Cape Cods you're seeing in that price range. I grew up in one with an unfinished basement (and attic for that matter). Central and South Jersey saw more construction booming in the 60s and 70s as people started moving out of the crowded areas of north Jersey for more space and more bang for the buck. You'll see more split levels and "modern" types of housing like you probably had in LA. Philly suburbs can be as old as north Jersey.

I knew many people with old Capes who had finished basements. Just look for those. And attached garages are by no means the norm in many older 'burbs. You'll have to search for those as well if that's important to you. Depending on the location you'll have a single lane driveway and have to park an extra car in the street. Good luck!
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Old 12-27-2010, 01:30 PM
 
Location: Northern NJ
1,171 posts, read 2,967,670 times
Reputation: 573
Quote:
Originally Posted by GoingOutEastCheap View Post
Hi all. We recently sold our home and got a good chunk of change here in L.A. We are looking to buy a home cash in N. New Jersey since prices are so cheap , mid 300,000 range. Found a couple of them that we really liked, but the "basements" concern me. Most of the pics look very dirty and "unfinished" in the basement. what do you think it would cost to make it clean and like another room
down there? typically i ask...
What size is the basement? To what extent do you want it "finished" so to speak? Clean is one thing, but like another room -- say a living room -- is another story.

I've seen "finished basements" for $10k (very, very basic, no frills whatsoever, etc.) and I've seen basements for $100k plus. To some, it's an afterthought. To others it's another floor of the house.
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Old 12-27-2010, 06:09 PM
 
327 posts, read 835,089 times
Reputation: 136
Quote:
Originally Posted by GoingOutEastCheap View Post
We are looking to buy a home cash in N. New Jersey since prices are so cheap
except NNJ doesn't have prop 13 .. your property taxes will be much more (LA was 1.25% last time I checked while looking out there), which will probably offset any or much of your savings in your p&i monthly..
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