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So we were going for a new construction townhouse, but it fell through - the property didn't appraise (it was in carteret, nj, which we since learned was a major declining market in NJ - and the builder wouldn't budge on the price - so oh well...).
So yesterday we were in NJ for the jewish holidays, and went to go see some properties while we were there. our first stop was to a community in aberdeen, where the houses were absolutely beautiful, but were a little expensive, and the property taxes there would have put our monthly payment a bit too far out of reach.
In the end, our agent ended up taking us to a newer listing she had. We never would hae looked at it had we searched on our own. We had been looking at 3 bedrooms, 2 1/2 baths, and this was a 2 bedroom, 1 1/2 bath. But honestly? It's perfect for us. It has a lot of potential - we are thinking of eventually adding in another bathroom - and there is a full, finishable walkout basement.
The kitchen will also need to be gutted and redone, but everything else on this place (except for some hideous mirrors in the living roomm that we have to figure out how to get rid of) is completely refinished and perfect. Turns out the guy had started doing long term projects on the unit, and then got a job transfer. So he stopped at the basement and the kitchen. Brand new carpeting throughout the upper level. There are hardwood floors in the living room and dining room, and the bathrooms have all been completely redone.
All this, for $65K less than the new construction.
We are submitting our offer today, and we think it's reasonable - so we'll see how it goes!
Hopefully this one will stick and it's a monthly nut we can totally deal with.
Good luck. Ive always been a fan of a nice older house than new construction. They just seem to have more "Character".
+1. Considering my house could be called historical, thats probably not much of a surprise
You also get just as many problems with a new construction as an older home, despite claims to the contrary. Be sure any work done by the current homeowner that needed a permit was done with a permit. Also, get a good home inspector, the right one will even comment on the owner's handywork, and anything you need to keep an eye out for
So we were going for a new construction townhouse, but it fell through - the property didn't appraise (it was in carteret, nj, which we since learned was a major declining market in NJ - and the builder wouldn't budge on the price - so oh well...).
So yesterday we were in NJ for the jewish holidays, and went to go see some properties while we were there. our first stop was to a community in aberdeen, where the houses were absolutely beautiful, but were a little expensive, and the property taxes there would have put our monthly payment a bit too far out of reach.
In the end, our agent ended up taking us to a newer listing she had. We never would hae looked at it had we searched on our own. We had been looking at 3 bedrooms, 2 1/2 baths, and this was a 2 bedroom, 1 1/2 bath. But honestly? It's perfect for us. It has a lot of potential - we are thinking of eventually adding in another bathroom - and there is a full, finishable walkout basement.
The kitchen will also need to be gutted and redone, but everything else on this place (except for some hideous mirrors in the living roomm that we have to figure out how to get rid of) is completely refinished and perfect. Turns out the guy had started doing long term projects on the unit, and then got a job transfer. So he stopped at the basement and the kitchen. Brand new carpeting throughout the upper level. There are hardwood floors in the living room and dining room, and the bathrooms have all been completely redone.
All this, for $65K less than the new construction.
We are submitting our offer today, and we think it's reasonable - so we'll see how it goes!
Hopefully this one will stick and it's a monthly nut we can totally deal with.
Best of luck!!! Question for you -- if you don't mind, first, as a %, how much less than the asking price are you offering? And, second, how long has this place been on the market?
So we were going for a new construction townhouse, but it fell through - the property didn't appraise (it was in carteret, nj, which we since learned was a major declining market in NJ - and the builder wouldn't budge on the price - so oh well...).
So yesterday we were in NJ for the jewish holidays, and went to go see some properties while we were there. our first stop was to a community in aberdeen, where the houses were absolutely beautiful, but were a little expensive, and the property taxes there would have put our monthly payment a bit too far out of reach.
In the end, our agent ended up taking us to a newer listing she had. We never would hae looked at it had we searched on our own. We had been looking at 3 bedrooms, 2 1/2 baths, and this was a 2 bedroom, 1 1/2 bath. But honestly? It's perfect for us. It has a lot of potential - we are thinking of eventually adding in another bathroom - and there is a full, finishable walkout basement.
The kitchen will also need to be gutted and redone, but everything else on this place (except for some hideous mirrors in the living roomm that we have to figure out how to get rid of) is completely refinished and perfect. Turns out the guy had started doing long term projects on the unit, and then got a job transfer. So he stopped at the basement and the kitchen. Brand new carpeting throughout the upper level. There are hardwood floors in the living room and dining room, and the bathrooms have all been completely redone.
All this, for $65K less than the new construction.
We are submitting our offer today, and we think it's reasonable - so we'll see how it goes!
Hopefully this one will stick and it's a monthly nut we can totally deal with.
By the way -- here's a nice story about your agent, perhaps thinking outside the box a little.
The price is listed for $299K (just reduced from $309K). We are offering $280K plus 10K in closing costs, and are hoping it lands at $290K plus 10K in closing costs.
This place has not been on the market for very long - only since September 17th. However, the homeowner has already moved out because of his job transfer.
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and it's a monthly nut we can totally deal with.
