Rent vs Buy in Millburn>Question Details

Richard Scott, Home Buyer in Outside U.S.

I am looking to rent a family home in the Millburn / Maplewood area

Asked by Richard Scott, Outside U.S. Sun Mar 21, 2010

My Wife and I are looking at moving from the UK to NJ for two years. We have three young children (5, 3 and an infant). Advice from NJ-based friends is that these are two very good residential neighbourhoods. Any advice re finding a good rental in these two townships?

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Morrighu’s answer
Given the crap tastic home market right now, you might find it financially advantageous to buy instead of rent. Things are very much in favor of the buyer but the market is just starting to turn and should be, IMHO, fairly recovered in 2 years when you'd be ready to sell. Just something to consider.
0 votes Thank Flag Link Tue Nov 9, 2010
I am not a realtor but own a home in Montclair, Nj. We have rented our house for a few years now and have always had a good response from our renters. You will find that Montclair is rated very high for schools and easy commute to Manhattan (20 min.to midtown by train). There are many restaurants, shops, parks, theatre venues, and a University. Montclair is a town of older beautiful homes and has some of the most beautiful Mansions in the State. I use a realtor to rent out my house but am considering putting it on a rental site myself. Our last tenants were a couple with two children from europe. They loved the house and the town and have since bought a home in Montclair. Our tenants at the moment have three children, who have all made friends very fast and love the area. My advise, do some research and plan a trip to see Montclair along with the Millburn/Maplewood area.
0 votes Thank Flag Link Tue Nov 9, 2010
http://education.state.nj.us/rc/- FOR THE SCHOOLS
TRY CALLING THE LOCAL POLICE STATION FOR THE CRIME RATE
ALSO THE TOWNSHIPS ON THERE SITES HAVE ISSUES AND DEVELOPMENTS THAT ARE HAPPENING IN THE City.
Have fun!
Nicaury Miller
Web Reference: http://www.nicaury.com
0 votes Thank Flag Link Fri Aug 13, 2010
Hi Richard,

What is your time frame? Right now we're at the beginning of the spring market and there are fewer rentals because this is the time when people are trying to sell. However, if they are unsuccessful, they turn to a rental option typically Mid May -June. If you email me your criteria ( price range, time frame, min # BRS, and anything else) I should know, I'll send you all of your options. Sue@sueadler.com

If you're not familiar with our towns, feel free to check out the town/neighborhood videos I've done on each of our trainline towns http://.www.youtube.com/sadler2512. Maplewood/South Orange, Millburn/Short Hills, Summit, and Chatham are all included. Each town has it's own personality, so hopefully this will give you some sense of the areas.

Yours to count on,

Sue Adler
0 votes Thank Flag Link Sun Mar 21, 2010
There are outstanding rentals in both towns. As with any life choice, what makes for a great selection is the attention to the details. It's critical to work with an agent that will understand your needs extensively so they can advise you well. You don't want an agent that will make decisions for you, but you will want one that lays out the implications of both towns (the vibe, the lifestyle, etc), individual neighborhoods, commute times, school choices, etc so you can make the very best decision for your family.

It's very easy to make pat answers in a formulaic manner and you shouldn't settle for that. I suggest you work with local experts (I've lived in Millburn for 15 years) so you can learn for yourself what a good value is or is not.

Unpopular Realtor Comment Coming: Selecting an agent should be treated as hiring someone for a specific job. Interview prospective agents, learn their qualifications, style, professionalism, education, experience, etc.

Many people settle on the first agent they come across because they feel all agents are alike. When one interviews agents, one quickly learns that not all agents are the same!

Hope this helps
0 votes Thank Flag Link Sun Mar 21, 2010
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