Hi,
I am interesting in buying properties in NJ and I have been searching realtor.com but there are so many houses..
which is a good area in NJ? what are the ongoing costs that we have to pay on a regular basis? eg, rates/levy/water etc..Please give me some advise
Thanks in advance!!!Hi buymore, I use http://www.neighborhoodscout.com as an initial source of info about good/bad neighborhoods. It provides crime rates, school ratings, and appreciation rates for each neighborhood. Next, go to http://www.city-data.com for the opinions of the people that live there.
Ongoing costs are not much different from Aussie property: Property taxes (like our council rates), home owners insurance (like our building & contents insurance), landlord insurance if you are renting it out, water/sewerage, trash collection, property management fees, maintenance costs and if the property is a condo/unit then you'll have body corporate fees too. The agent has this info.
Hi PQ,
Thanks so much for the info. it is so useful. I have been searching online like a crazy but there are so much info and I don't know
where to start.
do you know the difference between co-op and condo? i thought if it is co-op then you can't use it as a rental property.
only condo can. is this right?have you bought anything in NY or NJ? is it as easy as buying in sydney?
You're so welcome – I remember how hard it was to find the right info when I was starting out. I think you're quite right about the difference between a co-op and a condo. My understanding is that with a co-op, the owners have to give their permission for anyone to buy/sell/rent in the complex – too much trouble, if you ask me!
Sorry, I havent bought in NY or NJ, my heart belongs to Texas
I recently bought two freestanding single-family 3br properties and the process is very similar to the properties I've bought in Australia – the only different thing is that it is considered normal to use a real estate broker rather than deal with the selling agent directly. Just dont forget that the broker gets 3% of the commission so, even though they are working for you, it is not in their interest to save you money!
I recently bought two freestanding single-family 3br properties and the process is very similar to the properties I've bought in Australia – the only different thing is that it is considered normal to use a real estate broker rather than deal with the selling agent directly. Just dont forget that the broker gets 3% of the commission so, even though they are working for you, it is not in their interest to save you money!You must be logged in to reply to this topic. If you don't have an account, you can register here.
