I am the top agent in So Orange for the last 5 years in single family homes. Home buying is the key. If you want to buy call me or email me asap.

Hi Latina !
Based on your statement that you may only be living there for 4 years, I would perhaps consider renting instead of buying at this time. I think it's great, howver, that you are in a position to consider buying - good for you!!

None of us have a crystal ball, but for the shorter term (less than 5 years) I would be conservative in how I spend my money, especially in this turbulent and unsteady economy.. The other thing to consider is that perhaps your plans will change, and you won't remain in this area for the full 4 years. A shorter term purchase involves even more risk of not getting your money back.

I know as a Realtor, it may seem unusual that I am suggesting to you that you rent instead of buy, but I think it may be something to really think about.

If you do decide to buy, I would keep it simple, and buy a small condo. As a first time buyer, taking on the responsiblity of owning a home, AND attending college is a lot to handle.

Best wishes to you in whatever you decide.
If I can be of help, please don't hesitate to give me a call!
All the best,
Debbie Rose
Prudential NJ Properties

It really depends on your lifestyle. If your time is limited to maintain the grounds of a home, then a condo is not a bad investment if it saves you some sweat equity time. No one knows what the market will be like in four years, we can only hope for the best, however South Orange does have much to offer in terms of value.

Hope this information helps.


Marsha B. Washington
Coldwell Banker Residential Brokerage
2 E. Mt Pleasant Avenue
Livingston, NJ 07039
973-467-4844 0 office
Marsha.bowenwashington@cbmoves.com

Hello!
Usually, the decision about what to buy: condo or house depends on the buyer’s style of living. Also, in NJ condos and townhouses are very popular, because there a lot of young professionals living here, so they don’t want houses, which are usually older than condos and at the same price, they don’t want to be bothered with loan maintenance, etc. Many of townhouses complexes have amenities that create up scaled style of living that is very attractive to young people.
BUT remember, land does not depreciate, but dwelling is. If popularity of townhouses or apartments (condominium ownership) will go down, prices for them will go down as well, even if generally market will be stable or going up.
So, I would buy a house: yes, it needs more maintenance, but you don’t have to pay monthly fees (they go up every year), you have more privacy, and some updates and renovations in the house will bring its value up. And remember: LAND, small lot, but yours.

Hi,

There are so many factors that determine which is best for your particular situation. Are you willing to put work into the home or want something move-in conditon? Where do you plan to be in 5 years, etc?

We can sit at Starbucks or It's a Wrap, or something and chat about your options.

Beverly
Sold@BevAndBobHomes.com

Hi
While prices are down buying is a better than renting. Many of my friends bought homes/condos for their children while they attended school and found this to be a very good investment. Two things to consider while thinking this through-are you sure that you want to attend Seton Hall for all four years? And do you really want the responsibility of owning and maintaining a home. Most people that I know who purchased a property while in school found that buying a condo was a better choice for this reason.
Good luck!
Maria

If you're a student coming here to attend Seton Hall for 4 years I think your best bet is to buy a home. I don't know your financial situation, but if you can buy a home with a couple of bedrooms, you can take on roommates to help pay the mortgage. Four years down the road a three or four bedroom home in a town like South Orange which gets it's share of City dwellers looking to raise a family, is more likely to sell than a condo. You might be in a position to hold onto the house and keep it as an investment property. As long as the college is here, they'll always be a need for off-campus housing.

If you like to discuss your options with me, I'd be happy to talk to you. You can contact me anytime at (917)676-2000.

Douglas Huebner
Sales Associate/ECOBROKER
RE/MAX Village Square
9 Sloan St.
South Orange, NJ