Which is a good county in NJ to buy a home with limited budget? (Newark: for sale, real estate)

[Amanda7493]

We are thinking of moving to NJ from Brooklyn, NY. Looking for a safe, family-friendly, good public school system. Also, within an hour commute via public transportation to west side of Manhattan.

We can only afford to spend $250K max on a home, is it possible to find a 2-3 bedroom house with my criteria in nj?

How are these cities that I have chose:

Marlboro, Edison, Livingston, Paramus, Bridgewater, River Edge, Scotch Plains, New Providence, Morristown?

We are married couple, early 30's with a child under 1 year old and a dog who loves going to the dog run!

TIA!

Amanda

[JERSEY MAN]

I don't think you can find a home in the towns selected for 250K. You have to travel farther than a 1 hour commute to Man. Mayb4e a townhouse, check realtor.com with the price you selected. They will tell you most of the criteria you select.

[mike0421]

Cumberland County.

[JERSEY MAN]

Originally Posted by mike0421

Cumberland County.

I didn't want to say it. The only problem is the 4 hour commute each way.

[Lusitan]

Originally Posted by Amanda7493

We can only afford to spend $250K max on a home, is it possible to find a 2-3 bedroom house with my criteria in nj?

Not yet, but Forbes magazine predicts that price will fall 25% in most of N. Jersey in 2009 alone, so I would keep saving (for your 20% down payment) and use this time to take some weekend daytrips out to different towns in NJ to get a better feel for them.

America's 25 Weakest Housing Markets - Forbes.com

(link to article where Forbes includes most of N. Jersey in its 25 Weakest Housing Markets)

Metro Area: Edison, N.J. (Middlesex County, Monmouth County, Ocean County, and Somerset County)
Population: 2,410,700
When will the bottom be reached?: end of 2009
Forecast price change to bottom: -26.5%

Metro Area: Newark, N.J. (Essex County, Hunterdon County, Morris County, Sussex County, and Union County)
Population: 2,167,400
Bottom Expected: end of 2009
Forecast price change to bottom: -25.6%


Check out the NJ Transit train map to get an idea of what towns are within your distance range (sounds like you want to look for towns that are around 30 - 40 minutes train ride from Manhattan):

http://www.njtransit.com/pdf/rail/Rail_System_Map.pdf

[mike0421]

Originally Posted by JERSEY MAN

I didn't want to say it. The only problem is the 4 hour commute each way.

Well, the 250k figure kind of puts a "no qualify" big radius arc around Midtown Manhattan, doesn't it?

[Diane Giam]

Originally Posted by Amanda7493

We are thinking of moving to NJ from Brooklyn, NY. Looking for a safe, family-friendly, good public school system. Also, within an hour commute via public transportation to west side of Manhattan.

We can only afford to spend $250K max on a home, is it possible to find a 2-3 bedroom house with my criteria in nj?

How are these cities that I have chose:

Marlboro, Edison, Livingston, Paramus, Bridgewater, River Edge, Scotch Plains, New Providence, Morristown?

We are married couple, early 30's with a child under 1 year old and a dog who loves going to the dog run!

TIA!

Amanda

I am going to add a Town to your list, Manalapan, which is adjacent to Marlboro, Same HS district, Freehold Reginal, Great Schools, and there are houses in your price range.

Manalapan, NJ, Real Estate Listings and Manalapan, NJ, Homes for Sale - REALTOR.com®

Diane G

[Jillian Mason]

You can get a single family in Edison for 250k, but it's South Edison so your commute will be a little over an hour. Two bedrooms can be found in a lot of places in Middlesex County for that price, but you can actually get a larger two bedroom townhome for that money than a single family.

[Newarkbomb]

Perth Amboy (middlesex county)

Linden (Union county)

Bayonne (hudson county)

[Feenick]

Hi Amanda, you've identified some great towns - I checked Somerset County's Bridgewater, Green Brook; Morris County's Long Hill Township; Union County's Berkeley Heights, Scotch Plains, Fanwood, Westfield and found slim pickings in the single family home category in your price range. There are some, but few. I also took a peak at Edison and Piscataway. All of these communities are worth considering.

You'll find more choices if you are open to considering condos and townhomes -- any interest? Then I'd pull in Somerset County's Bedminster - specifically the community called "The Hills", dense community living, but very popular and it even has a dog park nearby. There are some great condo options in your price range in Bridgewater and townhome (ie, 2 level living) in Piscataway.

There are communities that have more single family homes in your price point - one is North Plainfield - you could buy a 3 bedroom cape there well within your means. You have to watch the taxes though - they are on the high end.

You can do research on schools by clicking on NJ School Info