Home Buying in 07093>Question Details

inertiazero, Home Buyer in West New York, NJ

looking for a 1bedroom for roughly 380k a month (market value?) in grandview 1, but taxes are scaring me off. worth it?

Asked by inertiazero, West New York, NJ Sat May 12, 2012

taxes would run me about 500-600 a month (with abatement) this seems kind've steep no? with the maintenance and taxes my mortgage would only be slightly higher than that.. and since the building was built 5 years ago so in 25 years (30 year tax abatement) i'd be paying even more (yes i'm looking way too far ahead)

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you cant be in a better location than grandview in port imperial. you have stunning views of midtown and you cant beat the commute to manhattan. its worth it if you are a commuter and like saving time on your commute. let me know if you dont have an agent. i know grandview well
1 vote Thank Flag Link Sat May 12, 2012
I have lived in Grandview for several years and sold this building as New Construction for the developer from 2006-2009. I can answer any and all questions regarding the tax abatement and anything else pertaining to the building.

April Hartmann
NJAR Circle of Excellence 2004-2011
Coldwell Banker Residential Brokerage
2151 Lemoine Ave
Fort Lee, NJ 07024
201-461-5000 office
201-723-3772 mobile
http://www.luxuryonthehudson.com

Recognized by Realtor Magazine's Top 30 Under 30 for 2008 as one of the top agents in the country. http://www.realtor.org/archives/featurejune08_30u30

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0 votes Thank Flag Link Tue Jul 2, 2013
The abatement was based off of pre-construction prices (i.e., higher prices than the current market value). Therefore, when the step-up to the full tax rate happens, it won't be much at all. If you have the original disclosure schedules from the pre-construction offering memorandum, it would list out the varying percentages and what you would expect to pay. Therefore, I don't think the taxes will drastically increase once the abatement expires.

Taking a step back, property taxes in Hudson County, NJ are generally steep because you're subsidizing a large population of lower income individuals. It's nothing different or new from any other area around here, but if you're from outside, I would tend to agree that the concept takes some time getting used to.

Best of luck in your housing search; from one resident to another.
0 votes Thank Flag Link Wed Jul 25, 2012
my answer got cut off. the real question is...
0 votes Thank Flag Link Sun May 13, 2012
thanks debbie! i live 1 mile from grandview and i love it. ask any other home owner that pays a mortgage in the area and they will say they love it as well, otherwise they wouldn't have bought into the area. my point? of course your interviews of homeowners in the area will be baised.

the real question is,
0 votes Thank Flag Link Sun May 13, 2012
I want to see what other home owners in the area think before getting too serious
0 votes Thank Flag Link Sat May 12, 2012
Brian took the time to respond in regard to the actual property you asked about, not reply as to what he thinks you should do instead.

I'd call him!
0 votes Thank Flag Link Sat May 12, 2012
HI there. I can show you properties that can offer you more value for your money than Grandview. I sell homes in Essex, Morris and Union counties. I can show you 2 an 3 bedroom units for about the same price. Many of the communities I service are by convenient midtown direct train service to NYC. You might want to spend some time looking with me or at the very least contact me so I can send you some listings of properties within this price range that might interest you. I can be reached at (973) 901-1900. Robert Bruckner, Coldwell Banker -- broker-sales associate.
0 votes Thank Flag Link Sat May 12, 2012
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