Success, Home Buyer in Monmouth Junction, NJ

Just curious to know if a older house (30 years) is a good deal vs. a newer one (< 10 years) in the South Brunswick, NJ area. From searching the

Asked by Success, Monmouth Junction, NJ Sat Feb 20, 2010

Just curious to know if a older house (30 years) is a good deal vs. a newer one (< 10 years) in the South Brunswick, NJ area. From searching the web, the price ranges differ dramatically and are quite high for a newer home. Any reasons why this is the case and is it specific to South Brunswick?

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Answers

7
Many people prefer newer homes, less maintenance or surprises. You could buy a home warranty on any single family home for about$400
0 votes Thank Flag Link Wed Jun 30, 2010
Unless a 30 year old home has been recently renovated, it is at the age where it will start needing repairs and upgrades to everything. Hence the lower pricing. Newer homes attract the most buyers and the most demand, hence the higher prices. Even in a so-called old house market, people will flock to a spot-built new home that is designed to blend architecturally with the existing older housing stock.

30 years is a critical age for a house. Everything will go from the roof to the mechanicals to the siding to the windows. Unless it has been totally renovated, it will usually end up costing you dearly over the next 15 years as you begin to repair and replace the key components.

Good luck!

Marc Paolella
Relocation Director/Appraiser
Century 21 Joe Tekula Realtors
Phone (direct): (973) 584-4235
Coolest map-based home search: http://www.marcpaolella.com
0 votes Thank Flag Link Wed Jun 30, 2010
Dear Home Buyer,

South Brunswick is one of the more sought after areas in central jersey. Reasons attributed to its excellent school systems, central and accessible location, and mix of demographics. New construction is limited because of available space, hence the higher prices. A 30 year old home may be in a very prime area, may have a lot more upgrades than a 10 year old home, and vice versa.

Eventually, a good deal is anything that you can get for less than what its worth, right?

You need an expert real estate professional to advise you on what is a good deal and what is not. I'd be more than happy to provide you more insight into these mechanics and how to go about identifying the right purchase for you. I and my office team specialize with home buyers and pride ourselves in detailed consultations before we resume a property search. Our office is in Monmouth Junction on Route 1 and we can schedule a mutually convenient time to meet up and discuss in more detail. Look forward to hearing from you.

Regards,
Charan Bajwa
(Broker/Owner)
RE/MAX ONE
4260 US 1 North, Suite 3,
(Between Ridge Rd & Raymond Rd)
Monmouth Junction, NJ 08852
0 votes Thank Flag Link Wed Jun 30, 2010
IMO the first answer from from Gerard Dunn hits the nail on the head - beauty is in the eye of the beholder. Buyers' preferences are what determines the price of a home.

Newer homes are desirable because they look bright/fresh and clean; often have the latest energy conservation features, and the belief is that they will require less maintenance. But in an area like Princeton, where most of the inventory is made up of older homes, the older home is preferred for its charm and blend with its surroundings. The key with older homes is location and how well the home was maintained.

South Brunswick is a desirable area and is made up of communities that still have large plots of land suitable for development hence the large number of higher priced newer homes. However, that does not necessarily mean that something is wrong with the older, lower priced, homes.

Gloria Laughton Allston, Realtor, GREEN, SRES, SFR
COLDWELL BANKER RB - PRINCETON
(609) 921-1411
0 votes Thank Flag Link Sat Jun 5, 2010
HI Success,

The price of a home really depends on how it's kept up. Meaning a 30 year old home could be older and not as modern, with the big bathrooms and walk in closets, but it could be in great condition not requiring any or little work.
New houses have not set yet, so over the next 5 years they will move and just because it's new now the condition might need repairs as the wall move and crack.
You should look for a house that suits your needs on the amound of bedrooms and bathrooms and things like that vs. if its new or old. Think of it this way, what someone else liked and did to the house you might not so you'll change it anyway.

hope this helps and I would be more than happy to show you nice houses in South Brunswick.
Roxanne Wojdalski
cell 732-910-5835
e-mail roxanne.wojdalski@century21.com
office 973-772-9404
0 votes Thank Flag Link Sat Feb 20, 2010
Hi Success,

At 30 years old, a house begins to basically fall apart. So it will often need a roof, siding, windows, kitchen, baths, septic or sewer pipe, foundation repairs, etc, etc, etc. 10 year old homes do not have these problems, are always more energy efficient, and are cheaper to own. Cheaper to own usually means more expensive to buy, pretty much in all markets.

Good luck!

-Marc

Marc Paolella
Relocation Director/Appraiser
Century 21 Joe Tekula Realtors
Phone (direct): (973) 584-4235
Web: http://www.marcpaolella.com
0 votes Thank Flag Link Sat Feb 20, 2010
New homes are oftern more expensive on a square foot basis then existing resale homes. This is not specific to any one geographic area.

As to which is a better deal? That is a tough question and the answer will be very subjective. Everyone has different reasons for purchasing a home and choosing a specific location. The best deal is the home that best suits your needs and is within your budget.

My best advice is to find an agent in the South Brunswick area that specializes in that area. They can give you the best advice on what is available in that market place - and which may be the best deal for you - based upon your needs.

Good Luck!
0 votes Thank Flag Link Sat Feb 20, 2010
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