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Old 09-06-2011, 04:53 PM
 
Location: Jersey City
46 posts, read 97,419 times
Reputation: 17

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Hi-

We are a couple in early 30's looking to buy our first place in NJ. We don't have a huge budget, but like everyother peson, have a lot of "desires". Currently live in a posh building in Jersey City, with easy commute to the city. Husband works in Exchange place, that's a even less than hop skip and jump away to work. Looking to buy a townhouse OR single family(if budget allows and we get the amenities), in Jersey, that's easy distance from Jersey city(as that's where he works). We did look around this past week-end in areas like Monmouth Jct, So Brunswick, Livingston, West orange etc. Liked and disliked many factors of the towns we saw. For eg, loved how BIG the living spaces were in So Brunswick and Mnmth Jct for 450, to 500K but hated how LONG it took us to drive back(Have heard the trains take equally longer). Had heard sooooo much about Livingston, but was so disappointed to see it lack the "charm" and did not find it "happening", also, we felt, the houses were too expensive for what we got. May-be I had expected too much so please don't kill me, do not mean to offend any one here. Liked West Orange, wanted to see the town-homes in Eagles ridge, but could not as our realtor who lives there was not free. But when we went to buy some snacks at the market-palce opposite the street from there, I did not feel so secure, and did not get a very up-scale feel to the area(looking at the people who were around)(again, this is all my personal observation, and maybe, I did not see much), but, WO did feel more "alive" than Livingston IMHO. Good thing about WO was that they have connectivity to NYC, but seems like in terms of travel to JC it is not so cool

Could anyone suggest a decent location to buy a TH in 400 to 450ish range, with amenities like a Gym, indoor pool(if not then outdoor), tennis, clubhouse, decent schools, and a town that has a lively feel to it. The place should have a good re-sale value, as we plan to sell the house, in the next 5 years or so. We are looking for a 3/2 to 3/2.5 open living space, with a back yard and deck(talk about high expectations ) Presently we ive in a 2000 sq ft condo with a nice sized terrace, and pay around mid 2k for rent. It is very important for us to be well connected to JC.

Thanks.
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Old 09-06-2011, 05:25 PM
 
3,984 posts, read 6,558,747 times
Reputation: 2881
It takes me about 50 minutes to get to Grove Street from East Brunswick by bus. Good schools, housing available in your price range, lots of shopping (no downtown regrettably) and only 30 minutes from the shore.
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Old 09-06-2011, 07:26 PM
 
107 posts, read 359,148 times
Reputation: 22
Quote:
Originally Posted by pakizah View Post
Hi-

We are a couple in early 30's looking to buy our first place in NJ. We don't have a huge budget, but like everyother peson, have a lot of "desires". Currently live in a posh building in Jersey City, with easy commute to the city. Husband works in Exchange place, that's a even less than hop skip and jump away to work. Looking to buy a townhouse OR single family(if budget allows and we get the amenities), in Jersey, that's easy distance from Jersey city(as that's where he works). We did look around this past week-end in areas like Monmouth Jct, So Brunswick, Livingston, West orange etc. Liked and disliked many factors of the towns we saw. For eg, loved how BIG the living spaces were in So Brunswick and Mnmth Jct for 450, to 500K but hated how LONG it took us to drive back(Have heard the trains take equally longer). Had heard sooooo much about Livingston, but was so disappointed to see it lack the "charm" and did not find it "happening", also, we felt, the houses were too expensive for what we got. May-be I had expected too much so please don't kill me, do not mean to offend any one here. Liked West Orange, wanted to see the town-homes in Eagles ridge, but could not as our realtor who lives there was not free. But when we went to buy some snacks at the market-palce opposite the street from there, I did not feel so secure, and did not get a very up-scale feel to the area(looking at the people who were around)(again, this is all my personal observation, and maybe, I did not see much), but, WO did feel more "alive" than Livingston IMHO. Good thing about WO was that they have connectivity to NYC, but seems like in terms of travel to JC it is not so cool

Could anyone suggest a decent location to buy a TH in 400 to 450ish range, with amenities like a Gym, indoor pool(if not then outdoor), tennis, clubhouse, decent schools, and a town that has a lively feel to it. The place should have a good re-sale value, as we plan to sell the house, in the next 5 years or so. We are looking for a 3/2 to 3/2.5 open living space, with a back yard and deck(talk about high expectations ) Presently we ive in a 2000 sq ft condo with a nice sized terrace, and pay around mid 2k for rent. It is very important for us to be well connected to JC.

Thanks.
Have you considered Scotch Plains? The schools here are good and there are a some townhomes on the market, like mine We moved here to start a family, and I became pregnant and had my daughter a year ago, so now we are looking for something a little larger. You can easily drive to JC from my TH because I live right off 78. You can also take the train from Fanwood to the Path...PM me if you want details.
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Old 09-07-2011, 05:51 AM
 
37,247 posts, read 25,211,317 times
Reputation: 62004
In this real estate climate, there can only be guessing regarding resale value. Not sure if 5 years is enough in this climate to come out ahead, why are you buying now if you know you'll want to sell in 5 years?
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Old 09-07-2011, 08:12 AM
 
Location: Jersey City
46 posts, read 97,419 times
Reputation: 17
To make some profit....a 2500$ rental feels like literally throwing away money. At least if we buy, then sell in the next 5-6 yrs, we would be getting back the amt we paid plus the increment in prices.
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Old 09-07-2011, 08:20 AM
 
3,984 posts, read 6,558,747 times
Reputation: 2881
I wouldn't necessarily go into a home purchase today thinking it will increase in value like houses did from 2000-2007. Expect much lower gains/year in home prices in this depressed economy.
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Old 09-07-2011, 09:02 AM
 
Location: New Jersey
10,322 posts, read 14,486,046 times
Reputation: 11043
Quote:
Originally Posted by EBWick View Post
I wouldn't necessarily go into a home purchase today thinking it will increase in value like houses did from 2000-2007. Expect much lower gains/year in home prices in this depressed economy.
True. Don't expect to make a profit in 5 years. The way things are going might take longer.
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Old 09-07-2011, 10:15 AM
 
3,269 posts, read 9,420,362 times
Reputation: 2021
Quote:
Originally Posted by pakizah View Post
To make some profit....a 2500$ rental feels like literally throwing away money. At least if we buy, then sell in the next 5-6 yrs, we would be getting back the amt we paid plus the increment in prices.
What do you think you are going to "throw away" in property taxes, insurance, upkeep etc? Rent, be happy.
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Old 09-07-2011, 10:29 AM
 
2,535 posts, read 6,185,186 times
Reputation: 1595
Don't buy a house to make money buy a house to make it your own. I bought a house about a year and a half ago. It was the second best decision of my life( marrying my wife was number 1). I was a renter for over 14 years and the experience of actually being my own landlord is priceless, as is the sense of community that you get from being part of a neighborhood instead of just a temporary guest. I say buy a house that is WELL WITHIN YOUR MEANS and don't look back.
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Old 09-07-2011, 10:56 AM
 
Location: NJ
12,284 posts, read 33,766,532 times
Reputation: 5281
Do not buy. It seems your sole reason is to make a profit and that's probably the worst reason to own a house in this market.
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