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.
Hi everyone. I have been planning to purchase a condominium in the New Brunswick (08901) area. I have been particularly interested in Fulton Square. The prices are a bit steep and I was wondering because of the state in which housing sales have been lately, how much could I bargain on the condo. Also, can anyone tell me about the crime rate (which I have heard was high, but might have dropped due to reconstruction and renovations of New Brunswick) and the overall area near my area of interest? Finally, does anyone have an idea of the ability to resell or resell values in the New Brunswick area? I apologize for all the questions, but would like as much input as possible before purchasing a condo. Thank you for your help!
Hi everyone. I have been planning to purchase a condominium in the New Brunswick (08901) area. I have been particularly interested in Fulton Square. The prices are a bit steep and I was wondering because of the state in which housing sales have been lately, how much could I bargain on the condo. Also, can anyone tell me about the crime rate (which I have heard was high, but might have dropped due to reconstruction and renovations of New Brunswick) and the overall area near my area of interest? Finally, does anyone have an idea of the ability to resell or resell values in the New Brunswick area? I apologize for all the questions, but would like as much input as possible before purchasing a condo. Thank you for your help!
Don't rely on town revitalization to cut down crime. They would have to displace 50% of the residents to revitalize that area. I lived in New Brunswick on and off for 10 years. The crime is a significant problem. There were 2 shootings near my apartment last year and the area you are referring to is more dangerous than the area I was in. There are also a bunch of muggings that go on in that area. There were 3 break ins behind my apartment that occurred with burglars going through my property. Now that you are in an economic downturn, you'll see crime get worse. New Brunswick is only good for people that are street smart and comfortable handling themselves if a potential altercation is going to occur. If you live closer to the college section, the crime dies down but then you have to deal with a lot of noise. Not the best place to buy something, IMO.
Thanks for your input. The main reason for purchasing a condo in New Brunswick is because I attend college there and was looking for an off campus alternative. Many of homes I have seen were quite old and I was looking for a newer home to reside and Fulton Square has caught my eye. I do agree that the surrounding area is less than favorable even if the development itself is a higher one with the condos I'm interested in costing the same or more than single homes in the nearby area. Although crime does bother me, I'm usually very careful with where I go and I intend to stay away from those places. Btw, the condos are right off Commercial Avenue, if that gives you a better idea of where it is. Do you think I can reduce the price of the condos significantly due to the location?
I'm a realtor and I would not count on good resale value with those condos. If you can afford 1 Spring St, that's where you want to be. If not, I'd say look outside New Brunswick. Fulton Sq is overpriced because it's new. I've shown plenty of homes in there and none of my clients felt comfortable with the area. Maybe you want to look into the Hampton Club...they are very affordable and will hold their value better than Fulton Square.
Thanks for your response, Jillian. Can you please elaborate on why you believe the resale value of the condos would not be good besides for the location? Also, I have looked into the Hampton Club. However, with the taxes and extra fees, it might be more expensive overall. I noticed a substantial amount of the townhouses and condos in Hampton Club is on the market. Is there a reason for this?
There's just a lot more homes built in Hampton Club which is why more are available. Also, timeframe for condo owners to move is 5 years and Fulton Square hasn't been around that long so most people will still be there for another 2-3 years. Resale in Fulton Square would be poor due to mainly location...even if New Brunswick does a full turn around, it's still in an industrial location. I also feel the prices are ridiculously overinflated. The cheapest in there is a 2 bed, 2 bath ground floor for 299k. You can go to Society Hill in EB which has Blue Ribbon Schools and get a ground floor condo for 220k max. If you made an offer on Fulton of 240k even, I'm assuming the homeowner will either a)turn you down and find someone else to overpay or b)not take it and then call you 6 months later to see if you're still interested.
If you want Fulton Square, I say go for it...just be careful and do your research. Also just an FYI, New Brunswick HS is rated 303 out of 316 high schools in NJ.
Yes, the homes in Fulton Square are no more than 2 years old. However, the cheapest available condo is around $225-$230k for a ground floor. I do not have children, so the school system is not a factor I am considering. I do agree the homes are overpriced, so I am trying to see what I can bring the prices down to. My main concerns are resell value and the crime. I am also trying to stay within a 10 minute drive from the university, so my options are quite limited. I might take another look at the homes at the Hampton Club. Can you give me an estimate on how much tax and condo fees are on the 3 bed/2 bath homes there? Also, do you have recommendations on condos and townhouses in New Brunswick?
Thanks for your input. The main reason for purchasing a condo in New Brunswick is because I attend college there and was looking for an off campus alternative. Many of homes I have seen were quite old and I was looking for a newer home to reside and Fulton Square has caught my eye. I do agree that the surrounding area is less than favorable even if the development itself is a higher one with the condos I'm interested in costing the same or more than single homes in the nearby area. Although crime does bother me, I'm usually very careful with where I go and I intend to stay away from those places. Btw, the condos are right off Commercial Avenue, if that gives you a better idea of where it is. Do you think I can reduce the price of the condos significantly due to the location?
I know exactly where the condos are that you are referring to. You are near some really bad areas. It's not even where you go. Crime gravitates to your home. I even found a review from someone who lived there for you.
Quote:
would not live here again if you paid me. The condos themselves are beautiful and spacious, but the old adage "beauty is only skin-deep" definitely applies here. In two months, there have been 15 burglaries in the condo complex. Considering the fact that only 30 or so units are filled, this number is remarkable. The condo association is doing nothing to prevent more burglaries; they even fired the security guard because he was telling the residents to lock their doors. The management will do anything to pass the buck and avoid being held accountable, when it is obviously an "inside-job" according to NB police. The units do not even come with dead-bolts on the doors, and the community is not fully-gated as stated on the website. Edgewood Properties (which owns Fulton Square) is more concerned with making money off their cheap construction than providing a safe and enjoyable community for their residents.
I've lived in plenty of spots in New Brunswick. For safety and convenience, I would live a few blocks within the college avenue area. You have easy walking access to the bus and you also have the Rutgers and the New Brunswick police regularly policing the area at all times. If you are closer to Easton, it is also well lit throughout the night. Once you cross Hamilton St, it's kinda of an invisible line going away from College Ave, to the bad section of town.
Are you looking to be within walking distance of the campus or are you comfortable with a 5 minute drive? I'm positive that you would be better off buying closer to Franklin/Somerset or Piscataway. In fact, there are a lot of town homes that neighbor the Busch Campus.
Location: Splitting time between Dayton, NJ and Needmore, PA
1,184 posts, read 4,044,738 times
Reputation: 767
Quote:
Originally Posted by theoakman
I've lived in plenty of spots in New Brunswick. For safety and convenience, I would live a few blocks within the college avenue area. You have easy walking access to the bus and you also have the Rutgers and the New Brunswick police regularly policing the area at all times. If you are closer to Easton, it is also well lit throughout the night. Once you cross Hamilton St, it's kinda of an invisible line going away from College Ave, to the bad section of town.
Are you looking to be within walking distance of the campus or are you comfortable with a 5 minute drive? I'm positive that you would be better off buying closer to Franklin/Somerset or Piscataway. In fact, there are a lot of town homes that neighbor the Busch Campus.
Very true. On Morris Avenue in Piscataway, there are several townhome/condos, including a Society Hill. There is also a place called Castle Pointe that has several units that back right up to a cemetery. Very nice and quiet and very close to RU.
While you have stated that you want to buy, you may also want to consider a rental option, at least initially. My suggestion would be Colony House which is located on George Street near Buccleuch Park, about a five minute walk to the College Avenue Campus.
Thank you all for your input. I will definitely reconsider Fulton Square. Like I mentioned before, I would definitely like to stay as close to RU as possible and have everything as hassle-free as possible. Does anyone have another other recommendations for apartments/condos/townhouses near RU?
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.
