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Agree that overall of course the market is trending down, but Princeton Landing seems to have been bucking that trend (so far, fingers crossed). I don't necessarily agree that it is a "wash" (per Luckyshoes) because I'm paying more. If I'm projecting (and of course none of us right now know the outcome) that I will make 8-10% over a 4-year period (assuming FSBO)---worst case scenario 5% then I don't understand how it is a wash.
By wash I mean, that yes that "Princeton" address might add value to a house because people like labels, but since the house didn't move you already paid for that value when you bought it originally - so it's a wash.
The non-"Princeton" equivalent might sell for a little less, but you would buy it for a little less to start with so there's no net benefit.
But the difference lies in the fact that I will have lived in Princeton (or technically Plainsboro) for those years as opposed to East Windsor or another town that may not have so many of the aforementioned intangibles. Areas like that can have one beautiful home with nice lawn flanked by two disastrous lawns----nobody who has made such a significant investment as a primary home wants to see something like that which is out of his/her control. If you live in a place with ubiquitous curb appeal, you have nothing to worry about in regard to neighbors' homes (other than their window treatments).
But the difference lies in the fact that I will have lived in Princeton (or technically Plainsboro) for those years as opposed to East Windsor or another town that may not have so many of the aforementioned intangibles. Areas like that can have one beautiful home with nice lawn flanked by two disastrous lawns----nobody who has made such a significant investment as a primary home wants to see something like that which is out of his/her control. If you live in a place with ubiquitous curb appeal, you have nothing to worry about in regard to neighbors' homes (other than their window treatments).
But you will not have lived in Princeton, ever, by living in Princeton Landing. You live in Plainsboro.
Honestly, I would like to see a comparison to even see if the Princeton mailing address adds value because I'm not even sure of that.
But you will not have lived in Princeton, ever, by living in Princeton Landing. You live in Plainsboro.
Honestly, I would like to see a comparison to even see if the Princeton mailing address adds value because I'm not even sure of that.
I doubt it does.
Of course I can't see why you would want to live in Princeton instead of Plainsboro or West Windsor anyway - it's not like either school district is crap and Princeton puts you slightly further away from the direct to NYC train station.
Of course I can't see why you would want to live in Princeton instead of Plainsboro or West Windsor anyway - it's not like either school district is crap and Princeton puts you slightly further away from the direct to NYC train station.
It's almost embarrassing some of the places down there that have the Princeton zip but aren't Princeton. That one development right next to South Brunswick High School comes to mind.
And then there is that part of East Windsor that has the fake Cranbury zip!
But you will not have lived in Princeton, ever, by living in Princeton Landing. You live in Plainsboro.
Honestly, I would like to see a comparison to even see if the Princeton mailing address adds value because I'm not even sure of that.
You are correct, I will have technically lived in Plainsboro. But consider this hypothetical: If I had a friend who technically lived in Metuchen, but his mailing address was Edison and he lived in a community called Edison Landing---is it wrong for him to tell people he lives in Edison? Similarly, if I live in Princeton Landing, have a Princeton mailing address, enjoy the trappings of the nearby University and downtown Princeton (to which again P. Landing is closer than many of the stately Princeton proper homes) is it wrong for me to tell someone from anywhere but Princeton proper that I live in Princeton? Absolutely not, and it has not made a difference in two years. Our friends visit, and when they come, they punch "Princeton" into their GPS to get here or mail greeting cards to my Princeton mailing address. They see my beautiful townhome. Everyone in my family knows we live in "Princeton"...where would be the point in telling anyone (explaining the nuances of 08540) that I Technically live in Plainsboro. Therein lies the privilege of the Princeton mailing address. And you can even see all of the RE agents selling homes and including "prestigious Princeton mailing address."
All I'm saying is my investment is founded in good research and common sense. By moving to Princeton Landing when I did, I ensured that if I had to move on short notice, I would break even at worst (assuming FSBO) or in five years make no worse than 5%. Both a heck of a lot better than paying $36000 a year in rent for 1BR in NYC. My home has an atrium for goodness sakes...an atrium!!!! Name a townhome community anywhere that has atria???????????? I hope you future Princeton area residents are reading this.
We looked at a condo in Princeton Landing when we moved here. Our concerns were the limited access (Rt 1), the HOA and the distance to the elementary schools (our daughter would be on a bus on Rt 1- didn't like that).
The fact that it had a "Princeton" address did not impress us at all, we knew it was in Plainsboro.
You are correct, I will have technically lived in Plainsboro. But consider this hypothetical: If I had a friend who technically lived in Metuchen, but his mailing address was Edison and he lived in a community called Edison Landing---is it wrong for him to tell people he lives in Edison? Similarly, if I live in Princeton Landing, have a Princeton mailing address, enjoy the trappings of the nearby University and downtown Princeton (to which again P. Landing is closer than many of the stately Princeton proper homes) is it wrong for me to tell someone from anywhere but Princeton proper that I live in Princeton? Absolutely not, and it has not made a difference in two years. Our friends visit, and when they come, they punch "Princeton" into their GPS to get here or mail greeting cards to my Princeton mailing address. They see my beautiful townhome. Everyone in my family knows we live in "Princeton"...where would be the point in telling anyone (explaining the nuances of 08540) that I Technically live in Plainsboro. Therein lies the privilege of the Princeton mailing address. And you can even see all of the RE agents selling homes and including "prestigious Princeton mailing address."
I don't know. I had friends down there who had a Princeton address but lived in Franklin Township. Yes, even parts of Franklin in the faux 08540.
Anyway, the husband used to go around telling people he lived in Princeton. And wife used to tell people the truth.
He was embarrassing himself by doing it. Everyone could figure it out as soon as he said what development he lived in. And then he just looked like some faux snob, trying to pretend he lived in Princeton.
I could see with friends and family from out of town it would be easier to just use the Princeton mailing address. But I would be careful doing that with people who live in the area and know the truth.
We looked at a condo in Princeton Landing when we moved here. Our concerns were the limited access (Rt 1), the HOA and the distance to the elementary schools (our daughter would be on a bus on Rt 1- didn't like that).
The fact that it had a "Princeton" address did not impress us at all, we knew it was in Plainsboro.
Nice development though!
Yeah, it's definitely not a plus if you have kids (the Princeton address) especially because it's so cut off from the rest of Plainsboro.
I don't know. I had friends down there who had a Princeton address but lived in Franklin Township. Yes, even parts of Franklin in the faux 08540.
Anyway, the husband used to go around telling people he lived in Princeton. And wife used to tell people the truth.
He was embarrassing himself by doing it. Everyone could figure it out as soon as he said what development he lived in. And then he just looked like some faux snob, trying to pretend he lived in Princeton.
I could see with friends and family from out of town it would be easier to just use the Princeton mailing address. But I would be careful doing that with people who live in the area and know the truth.
You're right, it's not something you throw around, but 99.999% of the people who I would say it to are friends and family are outside of the Princeton area. The fact that I live so close to the university and there is even the Forrestal Campus of Princeton U at the same exit as Sayre Drive. All I'm saying is that it is a guaranteed selling point. The few of you who have responded have familiarity with the area so you can say you know the ins and outs of 08540---so it is not a selling point to you in particular (point taken).
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Makes Sense
