First time home buyer NJ
Looking for some ideas and initial planning for buying house On H1B and I140 approved Finance: 550K Stocks 200K CD + bank account 150K 401K 50K Crypto No loans Personal: Office in NYC Current travelling time: 1:30 mins one way I am here to get some answers related to 1. BUDGET: What max budget should I target to buy house? I am thinking 550K 2. DOWN PAYMENT: Should I buy with all cash? I am thinking 50% cash 50% loan 3. TRAVEL TIME: What travelling time should I target? I am ok with around 1:45 mins 4. TOWNS: Which towns should I target (must be good school district)? 5. Should I buy house or keep renting (current rent 2K) #mortgage #housing #newyork #newjersey #nj #nyc
North Brunswick, Livingston or New providence
Livingston seems nice option. Do you know anything about public transport to NYC from there?
Don’t know but there must be some bus to the closest nj transit station as Livingston is not that far
Recommend any city along this line: https://youtu.be/UQ5OOQNQZEI
Thanks much for the link.
550k won’t get you anything nice. If you have a high tc get something better. I personally would not be okay with 1:45h commute so I’m not the right person to give you advice. Anything over 30 mins is not worth my sanity
You can even go to $1M with more down. For cities look for east Brunswick, bridgewater, denville, parsippany, or any city with great schools. But if the schools are good the house prices are going to be higher.. but it’s worth it. And if you still want to commute to the city look at NJ transit website and see if there is bus or train route from or near your town.
won't the 1 mil home in NJ have brutal property tax ?
Why is the budget only 550K?
How much I should target then? Conservatively speaking, 500K to 600K should be a good
$500-$600k will not get you a house in a good area that is commutable distance to NYC