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We are considering a house purchase in the Princeton area. Since we are from Canada we are not as aware of the local market we were wondering why the prices are so much lower south of highway one in the “Princeton Junction” area than they are in Princeton and north. We were surprised about this since this area is actually slightly better for commuting to New York (Although worse if you are associated with the university). Is there a stigma attached to this area? Will we have trouble with re sale if we buy there? Is it just due to the lack of “town”?
We are looking in the $400-500K range so the extra house we could buy south of HWY 1 would be welcome.
The Princeton Junction area is not in Princeton. It could be West Windsor or Plainsboro. If it's Plainsboro it will be much less expensive than Princeton, WW somewhere in between. Location and school systems drive RE prices in NJ.
Princeton Junction is part of West Windsor, not Princeton. It is a nice area.
Be careful of one thing, the zip code "08540" is called Princeton on your mail, but some of it is not Princeton proper. Parts of Plainsboro, Montgomery, South Brunswick and West Windsor have this zip. You really want to make sure what town you are buying in; the school district is the key.
As for the towns that surround Princeton on the north side of the highway, I'm not sure they are that much more expensive than the south side. If they are, it's probably related to the school district (see below).
The prices correlate with school district quality roughly. This is just my opinion how they rank. You would be absolutely fine in any of these towns.
Princeton
Montgomery/West Windsor
Hopewell/Robbinsville/South Brunswick
To be honest, your price range is kind of low, but you should be able to find something. It might be a townhouse in some towns. On the south side of the highway, in your budget, I would start with Robbinsville and South Brunswick. I like Robbinsville a bit better than South Brunswick, just my opinion.
Hamilton and Lawrenceville are other towns near Princeton. They are a bit cheaper but the school districts are generally not as highly regarded as the other towns above. The schools are fine, but that's just the general opinion.
The Princeton Junction area is not in Princeton. It could be West Windsor or Plainsboro. If it's Plainsboro it will be much less expensive than Princeton, WW somewhere in between. Location and school systems drive RE prices in NJ.
Princeton Junction is all in West Windsor. But there are parts of Plainsboro that are called Princeton. Then there is the lovely 08540 zip code which means nothing!
Thanks - Would I have more trouble re-selling a West Windsor home as opposed to a Princeton one?
Nope! West Windsor is a very appealing town. Excellent school system, location, etc. A lot of people prefer West Windsor and the other towns over Princeton proper. Princeton is almost its own RE market down there, and a lot of people who could afford Princeton don't necessarily want to move there. It's not like everyone who lives in the other towns chose those towns because they couldn't afford Princeton. Hope that makes sense.
Well before you take that advice realize that there is Princeton boro, Princeton Twp. The boro is by far the most expensive. West Windsor is not in the same class as Princeton boro, though I don't think you'd have any trouble selling regardless. The point is WW is a good area but it is not a walkable town like Princeton and has relatively little character compared to Princeton. Not many people in the state have even heard of WW, but everyone knows Princeton. They are desirable areas but not interchangeable.
Last edited by MoorestownResident; 07-06-2009 at 01:29 PM..
For what it's worth - your budget should be enough to find a nice house in Princeton Borough. However, it depends on what type house you are looking for. The borough is made up of older homes (nice but not new). Princeton Borough living is very desirable so homes do tend to hold their real estate value. There is even a trend now to purchase older homes at relatively lower cost and then either demolish and rebuild, or gut and renovate to increase value. As others have said, the school system is extremely desirable as well as being near the University with its associated main street appeal. And yes, be aware that Princeton Township is different from Princeton Borough.
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