Home Buying in 08081>Question Details

Travis, Home Buyer in Delaware

We are moving to Turnersville,Sicklersville and or Cross Keys area, and are trying to decide to buy, rent or

Asked by Travis, Delaware Sat Jun 28, 2008

lease purchase. Our initial period of stay will be 2 years, maybe longer. What is the best decision?

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Answers

8
Travis,

I specialized in South Jersey Real Estate. There's alot of inventory avaliable now in the area. Your decision should be based on how long you will be in the area. Turnerville and Sicklerville are neighboring towns, in some parts they overlap but municipal services are different. If you have children schools will play a role. In addition water expensives have recently greatly increased in one of the towns. This will affect your expenses as a homeowner. I would not suggest a lease purchase. This usually does not work in your best interests. You can call me anytime direct to privately discuss. Information is free. You should know all your options and the potential outcome of them all.

Best Regards,

Jeremy S. Hill, Realtor
Keller Williams Realty
http://www.southnewjerseyhomes.com
1814 Route 70 East
Cherry Hill, NJ 08003
Office: 856.685.1651
Fax: 856.321.1414
Direct: 609.876.5817
"Your Interest 1st Always!"
1 vote Thank Flag Link Sat Jun 28, 2008
If you are planning on being in the home for just 2 years or a bit longer, you must consider the costs involved in buying a home. Weigh that against any advantages and see where you stand. Keep in mind that if your property value goes down, you incur another loss upon resale. Also consider the costs involved in having to then sell the home in 2 years.

Think things through carefully. I can't give you a definitive answer with such minimal information. But you do the math.

Carol Lloyd, CLU, ChFC, FLMI
Mortgage Advisor
"In the Business of Educating My Clients About Mortgages"
First Hallmark Mortgage
http://www.newjerseymortgageblog.com
(856) 728-7100
0 votes Thank Flag Link Sat Nov 21, 2009
Well you have to think about a lot of things, first: after 2 years you will can afford other house and possible rent other place to live? Purchase a house is a great decision, is investiment for life, and now is the time to purchase, the prices and taxes are low. However thing about what you will do after you move, you can afford payments of a new house, and other house?

Think about this, if you can, purchase is the best decision.

Good luck
0 votes Thank Flag Link Wed Nov 11, 2009
It has been a while since your post, are you still pondering your decision?

If you are a First Time Home Buyer don't let you chance to take advantage of the $8,000 Tax credit that you have coming of you close before November 31, 2009. With this free money at hand and the many properties and low interest rate it is a perfect time to buy.

The other agents asked good questions, how long do you intend on staying in the area and whether you have children in the school system are definate things to consider.

Take a look at my website for current school and city information and statistics. Good luck!
0 votes Thank Flag Link Tue Aug 11, 2009
If your planning on staying I'd purchase at least you can get something from your investment if you decide to move. With renting your not gaining anything as far as building equity. If you have any questions I'd be happy to help you.
0 votes Thank Flag Link Mon Jun 30, 2008
Hello Travis... Well i must agree with two out of the three answers given to you.. However I won't blast the one agent that i don't agree with!

The area you are interested in is vastly changing, both for the good and the bad, once you find a decent realtor they should keep you in their best interests and point you in the right direction! And you would most likely benefit the most with an agent that is very familiar with the area. Its going to be mind rattling, trying to find a realtor you can trust.. But do your homework... stick with a well known agency, maybe even the number 1 office in gloucester county!! Heck even the number 1 Century21 office in New Jersey! ok, so i had to do that!!!!

But do your homework, look into the schoolsystems, look at the median home prices, and see how they differ based upon what you are in the market for!

Give me a call and see what I can do for you!
**Remember, I will never sell a home that I won't want to live in myself!!! **

Mark Welker
Century21 Rauh and Johns
email=== Mark.Welker@century21.com
856-582-0366 ext 323
0 votes Thank Flag Link Sun Jun 29, 2008
First, some info on the area....one side of Berlin Cross Keys Rd is Gloucester Twp, the other is Winslow Twp. Both sides have a mailing address of Sicklerville. Down near the Sam's Club at Route 42 is considered Turnersville, but try calling 411 asking for Home Depot in Turnersville...you won't get the number that way. Confused? That's o.k. You probably want to ask your agent to show you properties in Winslow Twp., Gloucester Twp and Washington Twp. That will cover the whole area.

As to whether to buy or rent depends on you. Are you a two-income family? You might get killed at income tax time without some good write-offs, like your real estate taxes, but I'm no accountant so talk to yours for a better reference. Could home prices in the area be higher two years from now? I don't know. No one can tell you that. Could they be cheaper two years from now? I don't know to answer to that one either. What will interest rates be two years from now? I have no idea. Have you rented before? If the answer is yes you know that's not always a picnic either.

I'll probably get blasted with readers clicking the thumbs down button because I haven't been helpful, but no one can really advise you on the rent/own decision because no one knows the answers to the above questions. Why don't you take a look at what's on the market for both options and then make the call from there.
0 votes Thank Flag Link Sat Jun 28, 2008
Hi Travis,

I am not sure of your total situation - do you know for sure if you will be moving after 2 years? Since you are not from the area, you may want to do a 1 year rental with option to renew at the end just to make sure you like the area you choose and the schools, etc. if you have children. Now is a great time to buy since there is alot of inventory out there and the rates are still pretty decent. If you are considering buying, I would recommed you check out the schools if you have children, the taxes in each area, the cost of living such as water, sewer, etc.

Should you have any other questions, please feel free to contact me anytime!

Take care!
Angela "Angie" Allchin
Century 21 Rauh & Johns
Email: Angela.Allchin@Century21.com
856-582-0366 x 172
0 votes Thank Flag Link Sat Jun 28, 2008
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