Home Buying in 08820>Question Details

PK, Home Buyer in West Windsor, NJ

Hi I'm looking for a townhouse in north Edison. 2 BR & 2 BR with garage and basement. 250-350000$

Asked by PK, West Windsor, NJ Thu Feb 11, 2010

is it good to buy a brand new 3 br condo with garage than a townhome of 2BR which is 25-27 yr old in Edison ?? please advice.

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Dear PK,

There are currently 3 Townhomes available in North Edison with 2 bedrms,2.5baths, 1 car garage,Full basement under $350k.
I recommend North Edison due to good schools and quick re-sale compared to South Edison.
If I was you, I would buy in North Edison.
Call me with any questions at my Cell# 732-277-9321.
0 votes Thank Flag Link Fri Feb 12, 2010
Hi PK,

There have some noteworthy suggestions made below. I would like to add the expectations in resale value on the 3 br condo vs. the 2br town home. Typically, if a townhome has the same bedrooms, bathrooms, and is the same age, in virtue of it being a town home the resale value of it is greater. In this particular instance, the age of the townhome is a drawback. As mentioned below, 3 bedrooms are preferable and a 3 bedroom adds value to the home.

First time buyers of our had similar questions. They where in between a townhome and a condo, both of which had 3 bedrooms. In fact, they were searching in Edison. We were able to bargain down the price on the townhome and the buyers went with the townhome.

We would be glad to be of help. Feel free to contact us by email or phone.

Best wishes

Rogov Team
Natasha, Artyom, Dennis
REMAX Central
520 Rt 9 North
Art: (908) 216-5066
rogovteam@gmail.com
0 votes Thank Flag Link Fri Feb 12, 2010
The type of financing you are looking for may be a deciding factor here as well. If you are thinking of FHA, you would have to see if the condo is approved. With the townhome, that would not be an issue. If you are looking at a conventional loan, how many units in the condo complex are currently sold or in contract? You would not want to limit yourself because of any issues that would arise with the new condo that would pertain to financing.
If financing is not an issue, the points that Jeanne made below are great ones. When deciding between a 3 bedroom and a 2, that would also depend on your age and lifestyle. Are you empty-nesters, or a newly married couple that might grow? Or something in between where you know that you only need 2 bedrooms?
0 votes Thank Flag Link Fri Feb 12, 2010
Hi PK - that is a matter of taste for the most part. Generally, all things being equal, buyers prefer a new(er) home to an older one. But adding in the element of one floor condo to a multi level townhome adds another element which will make a difference - also, 3 bedroom versus 2 bedroom and one with a basement, the other not. Both have garage spaces so that is not a point of distinction.

I would say that both will be marketable in resale. I work with many Edison area buyers and 2 bedrooms is their minimum, most prefer townhomes to condos, and they prefer to have a basement for additional space for storage or finishing than not. A garage is a wonderful plus.

So I return to my first point, the decision will depend largely on the style of living that you prefer. Assuming that we can find options in your budget of both, the best bet is to identify some choices and get out there to see them. The answer will come into focus for you as you move through the process.

If I can be of assistance, reach out to me via my Trulia Profile. I'd be honored to help you.

Best,
Jeanne Feenick
Unwavering Commitment to Service
Find success at http://www.feenick.com
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Fri Feb 12, 2010
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