Home Buying in Monroe>Question Details

Luv, Home Buyer in Monroe, NJ

I am looking to buy a home purely in terms of long term investment and with some good resale possibility.Is monroe(middlesex),NJ a good option?

Asked by Luv, Monroe, NJ Sat Jan 22, 2011

I am looking for invidual court rooms.

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Luv,

What do you mean by "individual court rooms"? Do you a multi-family home?
When you say "long term investment" do you mean as an income property, or as a primary residence with a good resale value farther down the road?

Monroe does have a lot to offer. However, let me address the situation in more detail.

If you are purchasing this property as an investment only (not primary residence), unless this is going to be a cash transaction, you have to bear in mind that banks have more stringent rules on loaning money for this type of purchase. My suggestion would be to work with a Realtor and go over the comps to see what the sales trends have been in the areas you are considering. I would also suggest you speak to a qualified mortgage person to see what your options are for this type of loan.

If this is going to be a primary residence, but you are concerned with resale value down the road, again a Realtor is a great place to start to look at the trends in a particular area. Keep in mind that although sales prices have declined in the last few years, in most towns, the 10 year value has actually gone UP, in some cases significantly.

In either scenario, work wiith a local Realtor with knowledge of the areas you are considering so you can make an informed decision.
0 votes Thank Flag Link Sun Jan 23, 2011
Virginia this question was asked in January 2011. I have a feeling that the questioner has probably purchased already.
0 votes Thank Flag Link Sat Aug 24, 2013
A lot of what the other agents have to say would be of help to you.
As an agent who has specialized in "only" adult community homes for 40+ years
I think that would be an advantage to you.
For now Monroe Adult community homes are the best investment. I have sold 12+ home to investors this year in our adult communities. The inventory is low but there are still a very few good buys out
there. Prices are just inching up in some cases and considerably in other. You need someone to watch the market for your needs on a daily basis. The communities all have different rules for investors as well as the Banks.
Please give me a call I'd love to help you. Virginia Bunn 732 221-6890 Cell or vabmail@comcast.net
0 votes Thank Flag Link Fri Aug 23, 2013
Hi Luv:
Monroe Twp offers low taxes, Blue Ribbon schools and a convenient location for commuting to either NYC or Phil. All of these things combine to make Monroe a place to live. Are you looking for a home for yourself or for something purely for investment? And what are you looking for when you mention "court rooms".
There is one community that builds their homes in clusters and call them "Court Homes" meaning they all share a common driveway and branch off from there. Monroe Twp is one of the areas where I specialize.
I have been licensed over 20 years and have experience in new construction, first time buyers and also active adult. Please send me an email and let me know if I can be of any help.
Donna Levine
0 votes Thank Flag Link Tue Jan 25, 2011
Monroe is a very good option. The town has alot to offer, but of course even in the best towns you would have to find the right investment . My office is located in Monroe and I would be happy to chat with you further and assist you in your search, please feel free to email me or call me.
0 votes Thank Flag Link Sat Jan 22, 2011
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