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Hi all - I have been reading the boards for over 2 hours now - I have a better idea what I am looking for but need your help!
I am from Texas, living in the midwest about to relocate to NJ for work. I have owned a home and a condo and selling the latter to move to NJ. I will work from home and commute about 1x per week to Montvale NJ. I have 2 vehicles I am moving (so want garage or parking - so Hoboken areas are out - not messing with that!). Single person - typically have lived in more suburban settings but want a little bit of that with a little bit of city/downtown as well - in hopes of meeting people (nothing agianst familes, but looking for more of a single set up yet still family oriented). Have friends down in Cranford and love that town but probably not where I want to live. They have suggested Morristown, Maplewood or Jersey City. I love going to NYC to bum around when I come out east - so being fairly close to a train line to take into the city is important but also probably being close to the Garden State Pkwy to get to Montvale. I am looking for a 2-3 bedroom - if it is a 2 - I need it to have a den or home office. Salary is around $95K. I am pretty sure I want to buy - but nervous about buying to old of home or one that will need updates. Doing yard work is not a deterrent for home ownership. So here are my questions! What towns/area's would you suggest to start looking at? Home or condo? Are property taxes pretty much equal area to area so that they become a nonfactor? (currently live in a state with very high ones - esp compared to Tx). For the areas I listed above, what type of commute time are you looking at on the parkway up to Montvale in traffic? Thanks in advance for your suggestions!
Hi all - I have been reading the boards for over 2 hours now - I have a better idea what I am looking for but need your help!
I am from Texas, living in the midwest about to relocate to NJ for work. I have owned a home and a condo and selling the latter to move to NJ. I will work from home and commute about 1x per week to Montvale NJ. I have 2 vehicles I am moving (so want garage or parking - so Hoboken areas are out - not messing with that!). Single person - typically have lived in more suburban settings but want a little bit of that with a little bit of city/downtown as well - in hopes of meeting people (nothing agianst familes, but looking for more of a single set up yet still family oriented). Have friends down in Cranford and love that town but probably not where I want to live. They have suggested Morristown, Maplewood or Jersey City. I love going to NYC to bum around when I come out east - so being fairly close to a train line to take into the city is important but also probably being close to the Garden State Pkwy to get to Montvale. I am looking for a 2-3 bedroom - if it is a 2 - I need it to have a den or home office. Salary is around $95K. I am pretty sure I want to buy - but nervous about buying to old of home or one that will need updates. Doing yard work is not a deterrent for home ownership. So here are my questions! What towns/area's would you suggest to start looking at? Home or condo? Are property taxes pretty much equal area to area so that they become a nonfactor? (currently live in a state with very high ones - esp compared to Tx). For the areas I listed above, what type of commute time are you looking at on the parkway up to Montvale in traffic? Thanks in advance for your suggestions!
Hi Jjrka,
I would strongly recommend a 1 year rental. That way you can do a more thorough investigation of what you want to buy. While you are investigating, prices will continue to drop. We have a LOT of unemployment taking hold up here. Especially in the financial services and pharmaceutical sectors. But really all sectors to one extent or another. You'd be better off renting a nice townhouse for a year or so and watching prices drop. Your salary is very borderline in northern NJ. It will support pretty much an old house or a townhouse. But that could change as prices continue to drop. To the point where in the next year ot two your salary will support the purchase of something really nice at a reasonable price and monthly payment.
So I would rent something near a train line and enjoy your home search at a leisurely pace in an improving market (for you). There's no point rushing into a purchase that will likely lose you money, maybe a lot of money, over the next year. What would be the point?
Try Somerset County. Not far from Cranford, many accessible train lines. Suburban with plenty to do, ways to meet people. Property taxes will vary greatly throughout, so be careful with that.
Hi all - I have been reading the boards for over 2 hours now - I have a better idea what I am looking for but need your help!
I am from Texas, living in the midwest about to relocate to NJ for work. I have owned a home and a condo and selling the latter to move to NJ. I will work from home and commute about 1x per week to Montvale NJ. I have 2 vehicles I am moving (so want garage or parking - so Hoboken areas are out - not messing with that!). Single person - typically have lived in more suburban settings but want a little bit of that with a little bit of city/downtown as well - in hopes of meeting people (nothing agianst familes, but looking for more of a single set up yet still family oriented). Have friends down in Cranford and love that town but probably not where I want to live. They have suggested Morristown, Maplewood or Jersey City. I love going to NYC to bum around when I come out east - so being fairly close to a train line to take into the city is important but also probably being close to the Garden State Pkwy to get to Montvale. I am looking for a 2-3 bedroom - if it is a 2 - I need it to have a den or home office. Salary is around $95K. I am pretty sure I want to buy - but nervous about buying to old of home or one that will need updates. Doing yard work is not a deterrent for home ownership. So here are my questions! What towns/area's would you suggest to start looking at? Home or condo? Are property taxes pretty much equal area to area so that they become a nonfactor? (currently live in a state with very high ones - esp compared to Tx). For the areas I listed above, what type of commute time are you looking at on the parkway up to Montvale in traffic? Thanks in advance for your suggestions!
Lol, at the bolded part. You do not even know what property taxes are, yet.
Marc was specifically discussing housing. 95K is a pretty good salary as long as you're not both making payment on a house at NJ prices, paying NJ property taxes at the same time. That amount is pretty close to my base and I take home about 2k biweekly after federal/state taxes, social security withholding and 401k contributions. Payments plus property tax on a typical house in NJ will eat well over half your take home in that range ...
Payments plus property tax on a typical house in NJ will eat well over half your take home in that range ...
isn't that the norm in NJ ?
I don't even bother with 401K anymore. Retirement, vacations, all dreams/things of the past (if I even live to age 70)
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