Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
If you want to say you live in Hoboken and JC and give up 50%+ of your income on housing, hey you can be that fool.
yeah, people are doing that simply because they want to tell people that they live in jc or hoboken.
its a better quality of life. some people are willing to pay more for a better life. i guess if you believe in reincarnation then that isnt such a big deal for you. many of us believe that we only live once so you need to consider more than just your expenses.
I'm 33 years old and grew up in the Ironbound. My son is not school aged yet, so what is the rush.
The Ironbound is an ideal place to live for singles or young couples with no children. Ideal if you want to save your money, have access to public transportation, excellent restaurants and easy access to highways.
If you want to say you live in Hoboken and JC and give up 50%+ of your income on housing, hey you can be that fool.
Oh wow, didn't realize that's what you meant by "33 years". Makes sense now. In that case, you're in a very good position.
yeah, people are doing that simply because they want to tell people that they live in jc or hoboken.
its a better quality of life. some people are willing to pay more for a better life. i guess if you believe in reincarnation then that isnt such a big deal for you. many of us believe that we only live once so you need to consider more than just your expenses.
You think Jersey City provides a better quality of life than Newark? How so? the Newport section having high rises and clearer streets? OK - yea let me pay double in housing costs for that and live in a more congested city.
I do only live once. That's why Newark has allowed me to go to 2-3 vacations outside of the US each year.
What the hell does Hoboken provide? A neatly manicured Washington Avenue with some bars and restaurants? OK let me run and pay $4,000 per month in rent. That is not living a qualify life, that is pure financial stupidity if that is more than 30% of your annual income. I am a CFP (certified financial planner) and I'll put up my financial path up against any 30-40 year old that decided to live it up with the Jones' in Hoboken. I took a few steps back in quality of live when from age 27-34, that will put me so far ahead of the game by age 35. People have to stop living in the now. A few years go being frugal can go a long long way.
For the record, I have multiple tenants that have moved form JC to the Ironbound and prefer the Ironbound to JC.
You think Jersey City provides a better quality of life than Newark? How so? the Newport section having high rises and clearer streets? OK - yea let me pay double in housing costs for that and live in a more congested city.
I do only live once. That's why Newark has allowed me to go to 2-3 vacations outside of the US each year.
What the hell does Hoboken provide? A neatly manicured Washington Avenue with some bars and restaurants? OK let me run and pay $4,000 per month in rent. That is not living a qualify life, that is pure financial stupidity if that is more than 30% of your annual income. I am a CFP (certified financial planner) and I'll put up my financial path up against any 30-40 year old that decided to live it up with the Jones' in Hoboken. I took a few steps back in quality of live when from age 27-34, that will put me so far ahead of the game by age 35. People have to stop living in the now. A few years go being frugal can go a long long way.
For the record, I have multiple tenants that have moved form JC to the Ironbound and prefer the Ironbound to JC.
You keep posing the question of what those other places have to offer and then you bring it back to cost. So clearly you think those places are better but aren't worth the cost. Like I said, many people are willing to pay more to enjoy a better life experience. If saving money so you can escape your terrible home town to visit nice places a few weeks a year satisfies you, that's great. Other people actually want to be in a nice place most of the year, not just a few weeks a year.
You keep posing the question of what those other places have to offer and then you bring it back to cost. So clearly you think those places are better but aren't worth the cost. Like I said, many people are willing to pay more to enjoy a better life experience. If saving money so you can escape your terrible home town to visit nice places a few weeks a year satisfies you, that's great. Other people actually want to be in a nice place most of the year, not just a few weeks a year.
No sense in arguing with an ignorant internet troll that likely has never visisted the Ironbound section of Newark.
Yes anyone that spends more than 30% of their income on housing is it very intelligent when it comes to finances. Living in the moment to live in Hoboken or JC is plain stupid. These will be the same people that reach age 60 and aren’t ready for retirement because of bad decisions they made along the way.
Is Newark an ideal place to raise a family? No of course not. But neither is Hoboken or JC. If I am 26-30 years old and had the option of a rental @ $1500-$1800 in the Ironbound or $3000 in JC or Hoboken, I’d take the Ironbound everyday. That’s an extra $18,000 per year in my pocket. That over 5 years is a down payment for a house in the burbs. What did I give up? I still can make it to NY in 20 mins, have coffee shops and restaurants all over.
And you need to just stop saying all of Newark is terrible, you sound ignorant.
I take path from Harrison every day. Seems like there are a fair number of younger professionals that get on in Newark. I assume some of them live in Newark for the reasons mentioned here.
I bought a home 33 years ago for $100,000 had a mortgage of $80,000. My payment was 1/3 of my kids rent and I now have equity and a fully paid home worth $350,000 + ,please explain to me how I was wrong? Some of you financial planners aren't too bright.
So if you accept their numbers, you managed to live in a $600,000 house for 7 years for 222,295 - 62,274 + taxes. This being NJ I'll assume 3% taxes (we'll leave West Orange out of it), so add $126,000. Total of $286,021, or $3405.01/month.
This. You need to weigh cost of the home vs cost to rent something close to the equivalent (unless you want to be the 35yr old living in your parents’ basement). Btw nothing wrong w. living w/ parents if no alternative, but there’s something to be said about living out on your own too.
Also if you’re going to weigh cost of home vs renting cheap apt, need to assign value to having greater space, yard, better schools etc for the home if those apply, as well as tax deduction for RE taxes (altho less of a benefit now). The article’s analysis is too bare bones and simplistic.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
