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We went to look at two more homes in rahway yesterday. One was a short sale that needed about 100k worth of work. The other was a cute starter right next to a warehouse (you could literally touch the side of the warehouse from the backyard and it really close to the train). We have decided to broaden our choices of cities. I have always liked maplewood, south orange, and montclair but felt like as a first time homebuyer they would be out of our reach. anyways i just posted this on maplewood online and i wanted to get the opinions of some of you guys:
Hello to all,
My husband and I are a young couple in search of a community to settle down in soon (we considered jersey city, then rahway, and now maplewood). Maplewood appeals to us for many reasons (we are an interracial couple so we love the diversity, he works in Brooklyn, the schools, the residents, and we love the small town feel). I just thought that maplewood would be out of our reach but there are a few things within our price range. One option being a condo. My husband is weary of buying a condo in a suburb (thinking about resale) but with the high property taxes and this being our fist purchase, i think it is a good decision (less maintenance, lower taxes). i wanted to get opinions about the condo's in maplewood. Should we worry about resale?
I have to say, I am all for buying the "town." And if you are buying a town I would really recommend Maplewood or Montclair over Rahway.
But resale is a concern, I'm not so sure the market has finished correcting and you may be saddled with a condo in the future. That said, if you are in a desirable development you can still consider renting out the unit even if you can't sell it and you can do well that way as well.
I know I didn't answer your questions, but I hope I helped.
I have to say, I am all for buying the "town." And if you are buying a town I would really recommend Maplewood or Montclair over Rahway.
But resale is a concern, I'm not so sure the market has finished correcting and you may be saddled with a condo in the future. That said, if you are in a desirable development you can still consider renting out the unit even if you can't sell it and you can do well that way as well.
I know I didn't answer your questions, but I hope I helped.
We are looking for more of a starting out place (starter home/condo)...so are looking to stay for 5-7 years then probably upgrade...
Im worried about the taxes for maplewood, south orange vs rahway
i have thought about keeping the condo and renting it out when were done...the idea really appeals to us but at the same time we dont want to get in over our head, how often is something like that done successfully
It's hard to say, I've seen successes and failures when it comes to that. If you are looking at 5-7, my hunch would be you are better choosing the better town... you are going to put down roots there for at least a while. What will the market be in 5-7 yrs... we've learned it's not really possible to say - I mean look at 5-7 yrs ago vs now... you just don't know.
Do you have children, or do you plan to have children, within that time frame? If so, you really want to pay attention to the schools... because it comes upon you faster than you think.
It's a gamble, always is in these matters.
I laugh because when we bought our first home everyone was like "Oh, it's a good starter home." And we were like "Starter?" it was a huge chunk of change and we viewed it as if we HAVE to be here for a while, so be it.
Let me ask you this, do you LIKE Rahway? Really honestly like it - because the truth is you never know how long you'll be there.
We went to look at two more homes in rahway yesterday. One was a short sale that needed about 100k worth of work. The other was a cute starter right next to a warehouse (you could literally touch the side of the warehouse from the backyard and it really close to the train). We have decided to broaden our choices of cities. I have always liked maplewood, south orange, and montclair but felt like as a first time homebuyer they would be out of our reach. anyways i just posted this on maplewood online and i wanted to get the opinions of some of you guys:
Hello to all,
My husband and I are a young couple in search of a community to settle down in soon (we considered jersey city, then rahway, and now maplewood). Maplewood appeals to us for many reasons (we are an interracial couple so we love the diversity, he works in Brooklyn, the schools, the residents, and we love the small town feel). I just thought that maplewood would be out of our reach but there are a few things within our price range. One option being a condo. My husband is weary of buying a condo in a suburb (thinking about resale) but with the high property taxes and this being our fist purchase, i think it is a good decision (less maintenance, lower taxes). i wanted to get opinions about the condo's in maplewood. Should we worry about resale?
condos / townhouse are not cheaper than individual homes..add up the non-tax deductible maintenance fees - consider these the equivalent to property taxes. Now add them to the property tax - you'll be surprised at what you can afford. You're better off buying a house if you can.
condos / townhouse are not cheaper than individual homes..add up the non-tax deductible maintenance fees - consider these the equivalent to property taxes. Now add them to the property tax - you'll be surprised at what you can afford. You're better off buying a house if you can.
Exactly, great points. I responded to you in another forum, but will do so here also. Taxes can be higher in a condo than a house. I would go for Maplewood or Montclair.
the taxes for one of the condos was 4300 and the monthly fees were 730, not a great deal so we were gonna keep seeing whats out there
EEEPNJ- My son will be 5 in sept and in the next 5-7 years we plan on having more which is what is making this decision so hard, In the long run a town like maplewood would pay off b/c of the public schools but for now the taxes as well as paying for morning and aftercare (and childcare should we have another) would be alot to handle... this whole process is a bit stressful...trying to figure out what will work for our family in long should run
I like rahway, i think it has potential..In its current state i dont REALLY REALLY like it, its ok but i am more of a fan of maplewood and south orange
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