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Old 03-07-2009, 11:03 PM
 
6 posts, read 42,573 times
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My parents are planning to move to NJ with my sibling (15yrs old brother) and they are looking for a 3+ bedroom single family home. My dad needs to travel to Penn Station for work while my brother will begin 11th grade in Fall 08.
Their criteria is as follows:

- reasonable commute to Penn station (up to 75min)
- 3+ bedroom
- good/safe community
- would like to keep budget around $350-400 (if nothing suitable is nearby, budget can be stretched to 450)

Since my brother has only 2 years of high school left, I'm not sure whether we should place much emphasis on a good high school, since I believe that a child's own motivation towards studies leads to success.
My brother will hopefully be joining Rutgers in a couple years, so a reasonable commute to the uni would be another criteria.

I was looking at the NJ Transit system map for places to live, so I was considering New Brunswick, Edison, Metuchen, Metropark and Avenel. Would that be a wise choice? Also, would you recommend my parents wait till the end of the year to purchase a home (since I read on this forum that house prices are expected to fall by 25% on average by end of 2009)?

Thanks, appreciate any input at all
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Old 03-08-2009, 06:54 AM
PDD
 
Location: The Sand Hills of NC
8,773 posts, read 16,581,744 times
Reputation: 11950
Quote:
Originally Posted by gobusrider View Post
My parents are planning to move to NJ with my sibling (15yrs old brother) and they are looking for a 3+ bedroom single family home. My dad needs to travel to Penn Station for work while my brother will begin 11th grade in Fall 08.
Their criteria is as follows:

- reasonable commute to Penn station (up to 75min)
- 3+ bedroom
- good/safe community
- would like to keep budget around $350-400 Also, would you recommend my parents wait till the end of the year to purchase a home (since I read on this forum that house prices are expected to fall by 25% on average by end of 2009)?

Thanks, appreciate any input at all
According to the "real estate experts" on this board you should be able to get a $1,000,000. assesed home for about $500,000. if you wait for the prices to bottom out, whenever that is.
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Old 03-08-2009, 07:48 AM
 
Location: GA
2,791 posts, read 10,168,791 times
Reputation: 1163
Try Bloomfield, Brookdale section. Great area, easy NY commute, and not far from Rutgers.
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Old 03-08-2009, 01:21 PM
 
Location: Montgomery County, PA
2,771 posts, read 5,884,453 times
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Quote:
Originally Posted by brookdaleresident View Post
Try Bloomfield, Brookdale section. Great area, easy NY commute, and not far from Rutgers.
Brookdale is nice, but it seems a bit remote. How does one commute to lower Manhattan from there ? In less than 90 minutes ?
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Old 03-09-2009, 11:37 AM
No5
 
10 posts, read 23,704 times
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metuchen is a nice town and you should be able to do well in your price range

the train to nyc is walkable from most areas of town
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Old 03-09-2009, 11:39 AM
 
Location: stuck
1,322 posts, read 3,957,172 times
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Quote:
Originally Posted by elflord1973 View Post
Brookdale is nice, but it seems a bit remote. How does one commute to lower Manhattan from there ? In less than 90 minutes ?
bloomfield is 12 miles from nyc. either the direct train, or just take the train to hoboken, then hop the PATH train. theres no way it should take 90 mins to get there.
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Old 03-09-2009, 12:51 PM
 
Location: Jersey Shore
831 posts, read 2,271,900 times
Reputation: 300
Quote:
Originally Posted by PDD View Post
According to the "real estate experts" on this board you should be able to get a $1,000,000. assesed home for about $500,000. if you wait for the prices to bottom out, whenever that is.

I have been watching the prices constantly for over a year (in the hopes of moving back) I see its starting to happen now. I feel for the people trying to sell but coming from Florida where we have been hit so hard and have been going thru this for so much longer it would definetly be nice if it were true.
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Old 03-09-2009, 12:58 PM
 
1,552 posts, read 4,358,830 times
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It's certainly the case that house prices are sinking by the month in NJ, and all signs point to the housing market continuing its decline throughout 2010 as well.

Honestly, the best bet for your parents would probably be to look to rent a house for at least a year (there are plenty available, check realtor dot com, or craigslist). That way, they can get a chance to know the area, so they can be sure about what they like and dislike, without feeling rushed. They'll also likely save a bundle, since home prices continue to sink. (Both are important, because they'll want to minimize the amount of money they lose as house prices fall after they buy it, and also because if they really get to know the area before they buy, if they end up buying after a year they at least will be much more sure how well they like that particular town, so they can be prepared to be in the house for the long term, which is important since they may not be able to sell the house if they decide they made a mistake and want to move again).

I'd add Westfield, Cranford, Maplewood, South Orange, Millburn, River Edge, Summit, and Montclair to the list of towns they might want to check out.

It's hard to get to know the area on short notice though. So best advice is to take their time.

Hope it works out for them!
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Old 03-09-2009, 07:50 PM
 
Location: The Beautiful Pocono Mountains
5,450 posts, read 8,171,928 times
Reputation: 2991
And of course, I'll add most towns in Somerset County to the list as well.

FINALLY - someone with the brain to figure out that education is what you make of it for the most part. Congratulations!! Your brother will do just fine in school here.
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Old 03-09-2009, 09:31 PM
 
4,154 posts, read 9,832,026 times
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yea why not rent until the kid is out of high school?
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