Central vs. North (Toms River, Lakewood, Old Bridge: house prices, transfer, neighborhoods)

[MelanieLove]

a friend of mine told me about this website and this is my first time using it. Basically I am looking to buy my first starter home in the next three months.
My friends and family told me to buy a house with a nice resale value (basically easy acces to NYC) in an appreciating area.. so I am debating between where to start looking- Central or North NJ. I was told by my realtor that Central NJ is growing and the house prices are increasing faster than Northern NJ- does this sound right??? Im lookin to spend no more than $500,000. I would like new construction if possible for that amount of money.
So far I saw some houses in Monroe and Old bridge. Anywhere else i should be looking? Yes school sytem is important because I have a toddler.

[BobKovacs]

If you want easy access to NYC, your best bet is to be near a train station.

For new construction, you're not going to find anything for under $500k that's a decent commute to NYC- land prices are too high, and you have to build 3,000 SF to offset the land price. Even infill lot "starter homes" in Iselin and Fords are in the mid $500's to over $600k, and anything on larger lots in Old Bridge, Marlboro, etc., starts at closer to $700k.

Bob

[KC101]

Central Jersey Definitely!
North Jersey is too expensive and congested.
You will have to find the neighborhoods near train or bus stations. It would be extremely difficult to find a new construction for that amount. Old Bridge is a good town also check out Freehold, Lakewood, Toms River, and Jackson

[MelanieLove]

thanks for the responses! you all are so helpful!
so Central is where I will focus. But is it an easier train/bus commute from Central NJ into Manhattan than from Northern NJ?

[66nexus]

Originally Posted by MelanieLove

a friend of mine told me about this website and this is my first time using it. Basically I am looking to buy my first starter home in the next three months.
My friends and family told me to buy a house with a nice resale value (basically easy acces to NYC) in an appreciating area.. so I am debating between where to start looking- Central or North NJ. I was told by my realtor that Central NJ is growing and the house prices are increasing faster than Northern NJ- does this sound right??? Im lookin to spend no more than $500,000. I would like new construction if possible for that amount of money.
So far I saw some houses in Monroe and Old bridge. Anywhere else i should be looking? Yes school sytem is important because I have a toddler.

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[BobKovacs]

Originally Posted by MelanieLove

thanks for the responses! you all are so helpful!
so Central is where I will focus. But is it an easier train/bus commute from Central NJ into Manhattan than from Northern NJ?

Depends on where in North NJ or Central NJ. Either area is far easier if you're near a train station or major bus route, especially if near a train with a direct run into Penn Station. The trip from Central NJ may be slightly longer due to distance, but I'll take a 45 minute direct train trip into Penn Station over two 20 minute train rides with a transfer any day.

Bob

[MelanieLove]

Thanks for the feedback...
pardon my ignorance but since Central NJ is a growing area.. does that mean that houses will appreciate faster there than in areas where growth has slowed down? For example, I have co-workers that brought in Monroe because supposedly thats a fast growing area. DOes that mean that my house will be worth a lot when its developed??

[Summer16]

I think it depends where you are in central NJ. In the Hazlet, Holmdel, Matawan, Middletown area (Bayshore) the houses have slowed down in the pricings (still extremely and ridiculously expensive, but not going up at this time).

[BrianG]

Originally Posted by MelanieLove

a friend of mine told me about this website and this is my first time using it. Basically I am looking to buy my first starter home in the next three months.
My friends and family told me to buy a house with a nice resale value (basically easy acces to NYC) in an appreciating area.. so I am debating between where to start looking- Central or North NJ. I was told by my realtor that Central NJ is growing and the house prices are increasing faster than Northern NJ- does this sound right??? Im lookin to spend no more than $500,000. I would like new construction if possible for that amount of money.
So far I saw some houses in Monroe and Old bridge. Anywhere else i should be looking? Yes school sytem is important because I have a toddler.

If it is a starter home then it need not be new construction
instead look for something that has been well maintained and updated
I also would look in central jersey over northern jersey

[MelanieLove]

thanks everyone! does anyone know when they are going to decide whether to raise the interest rates again?? do they do that every month or every two months?? I want to buy before that raise it again.