First Time Homebuyer in Glen Rock, NJ - Townhome Near Train Tracks Good or Bad Investment?

Asked by Mclem24, Glen Rock, NJ Mon Feb 4, 2013

My husband and I are looking to buy in Glen Rock, NJ and are looking at new townhomes. Is there a difference in the resale value of a townhome vs. a single family home? Also, being that trains run through Glen Rock, is noise an issue? Does that have a significant impact when trying to sell a home? We are first time home buyers and want to be sure we are not making a horrible investment. Thanks in advance.

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Wendy Silber’s answer
Wendy Silber, Agent, Ridgewood, NJ
Fri Apr 19, 2013
I have lived in Glen Rock for 20 + years and we went through a rennovation where we had to move out. I had always heard the train and after a while you dont even notice it. But when we had to rent for 7 months I had to find a home that was as close to the train as we currently are, so that my husband could walk there. We ended up renting house across the street fromt the Main line train right by town and it was a wonderful experience. We loved living there for that 7 months!! So my answer to your train question is Glen Rock is the town it is because of the wonderful easy trains/bus commute to manhattan, the warmth of a small town and amazing schools. So I would not hesistate to invest in buying a home or a townhouse in Glen Rock. If you have any other questions that you need answer's too, here is my direct line 201.280.9615 and my email I can promise you that you will love Glen Rock!!!
0 votes
Michael Shet…, Agent, Ridgewood, NJ
Mon Feb 4, 2013
Hi Mclem,
According to Jeffrey Otteau, the leading real estate valuation expert in the state of New Jersey, the townhouse market slightly lags the single family home market. Right now the single family home market in Glen Rock has recovered but for the townhouse market you might have to wait a year or two to see a complete recovery. Bottom line is if you plan on only living there a short time it may not be a good idea. But long term, barring unforeseen circumstances, a townhouse should be a fine investment. As far as trains in Glen Rock, a home/townhome right on top of the tracks will sell for less. A rule of thumb would be a 10% difference for being extremely close to the tracks.
I'm a Glen Rock resident and real estate agent. If I can help you in your search please call me at 201-421-0506.

Michael Shetler
2 votes
Thank you Michael! We plan on staying there for a minimum of 5 years :) The maintenance of a home overwhelms us a bit, so we would really love to purchase a townhome.
Flag Mon Feb 4, 2013
Karen Boyle, Agent, Ridgewood, NJ
Tue Feb 5, 2013
Hi McIem,

Happy to hear you and your husband are thinking about a move to Glen Rock. I'm a Realtor living in Glen Rock for the past 10 years and absolutely love the town. As for your questions regarding townhome investments and values, as of late townhomes seem to be a good investment, although single family homes do dominate the market. Being that it is in close proximity to downtown Glen Rock, the trains, the pool (it's terrific!) and the fields, I can't see it not being a good investment. In Glen Rock, chances are you'll be near enough to one of the train lines wherever you purchase and the noise level will variy upon location. I live on the same street as these new townhomes and I've just gotten used to the noise. It's really not bad.

Since you're a first time home buyer I'd like to extend an invitation to you to my First Time Home Buyer's seminar that I'll be holding in March, here at my office in Ridgewood. Tons of helpful information regarding mortgages, interest rates and the buying process. For more information, please feel free to contact me any time at (201) 734-1459. I'd love to be of further assistance to you.


Karen Boyle
0 votes
Peter J Roge…, Agent, Mahwah, NJ
Mon Feb 4, 2013
townhomes have become increasingly popular amongst 2 groups. The young first time home buyers, often without children and both working and the older couple who's kids have grown and who want to downsize. Both groups want the benefits of a home without the work of upkeep associated with a single family home.
Since you don't have a yard with a townhouse you tend to spend less time outside where the train noise can be an irritant but really the only way to decide is to go there and see for yourselves. it really does not seem to affect value.
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