Lkwd house as invesrment

sky

Fri, Nov 18 2016, 9:25 am

amother wrote:

You can get apartments (or what most Lkwd ppl would just call a townhouse) for this price in westgate.

And jbtw, not everyone is moving to jackson, TR, Howell and Brick because they're being priced out of the market. Some actually prefer the larger properties, privacy, and houses that have a whole lot more personality than your average cookie-cutter townhouse/duplex. Even if it's not brand new and doesn't have a pesach kitchen and huge bedrooms and means a longer drive to yeshiva/school/work.

Just sayin

Of course. But those aren't the people that are stifled by prices. We aren't talking about the people that want to move out.

Some of those areas are also not cheap. I don't consider a 500K home affordable for me, or many people I know.

BTW there are tons of homes in Lakewood that have privacy and aren't cookie cutter and aren't a townhouse\duplex and not in a development. Just sayin.

mommy3b2c

Fri, Nov 18 2016, 9:34 am

mommy3b2c wrote:

$2000 for a house or an apartment? My brother just rented a 2000 square foot apartment for $1500.

Why did I get a hug for this? I am dying of curiosity.

amother

Cerise

Fri, Nov 18 2016, 9:37 am

amother wrote:

In Lakewood? I've never heard of this. What area is it in?

People in Stamford Meadows are renting the top for 1750 or so and I believe it's 2400 square feet so this doesn't sound off..

amother

Blonde

Fri, Nov 18 2016, 10:20 am

amother wrote:

You are living in lala land, so sorry to burst your bubble. As everyone here keeps saying, there are way too many basements available right now; it's a renter's market. Unless you are very much yeshiva area, you are not getting 1250 for your basement. Sorry. Maybe a year ago, but not anymore.

Nope. Areas such as Arlington, somerset walk and the Woods at cedarbridge all go for this price.

amother

Natural

Fri, Nov 18 2016, 10:58 am

amother wrote:

Nope. Areas such as Arlington, somerset walk and the Woods at cedarbridge all go for this price.

I AM a homeowner in one of these neighborhoods and that information is incorrect.

amother

Blonde

Fri, Nov 18 2016, 11:01 am

amother wrote:

I AM a homeowner in one of these neighborhoods and that information is incorrect.

Strange, because I am as well and we are charging $1200 plus utilities for our basement.

amother

Amber

Fri, Nov 18 2016, 11:27 am

Its only a new thing that rentals went down. If you rented 6+ months ago you are still getting top dollar. If you are only listing an apt now (or in the past 1 -2 months) they are not going for so much. People are having a much harder time finding a tenant now, a few months ago couples were fighting over apts and signing on the first one they found that worked, its no longer true.

I don't think homes have gone down, only basements.

(the average apt in many of those areas are brand new, 3 bedrooms, 2 baths with high cielings so it makes sense they would be going for higher rates than other areas).

amother

Blonde

Fri, Nov 18 2016, 11:31 am

amother wrote:

Exactly. New construction homes in the area get those rates.
And I think you're wrong about the dates. The shortage of apartments was a year or more ago. Once new construction popped up everywhere, the supply became greater than demand.
But in the areas I listed you can still get in the $1250 range for basements because they are desirable areas for a certain young, with-it crowd.

amother

Natural

Fri, Nov 18 2016, 11:43 am

amother wrote:

I am a homeowner who rented my basement out about 15 months ago for 1300. 2 bedroom 1.5 bathroom

15 months ago, but not now. Also, if you're in yeshiva area, then you will get more.

amother

Natural

Fri, Nov 18 2016, 11:45 am

amother wrote:

I disagree. Check the masa u'matan. Make some phone calls. But do your research carefully before you buy and rely on renting out the basement to make the mortgage payments.

amother

Blonde

Fri, Nov 18 2016, 11:52 am

amother wrote:

1200, yes, but not 1250+.

1250+utilities, read as 1250 plus utilities (not 1250+).

The reason we charge $1200 and not $1250 is because our tenants are family friends.

amother

Blonde

Fri, Nov 18 2016, 11:54 am

amother wrote:

I disagree. Check the masa u'matan. Make some phone calls. But do your research carefully before you buy and rely on renting out the basement to make the mortgage payments.

The masa umatan lists the Woods apartments for $1250 (when they are available; they usually get rented before even making it onto the list).
In Arlington, the listings you see are usually older construction homes and therefore go for less ($1050 or so). The newer ones get grabbed up before being listed.
In somerset walk, the basements of single houses go for $1200-1250. Townhouse basements are a little less ($1100). All this does not include utilities

amother

Beige

Fri, Nov 18 2016, 2:29 pm

amother wrote:

15 months ago, but not now. Also, if you're in yeshiva area, then you will get more.

I'm not yeshiva area I'm actually like a 20 minute walk from yeshiva (unless that's still considered yeshiva area?)

But It was 15 months ago and I don't know the current market

amother

Seashell

Sat, Nov 19 2016, 7:44 pm

sky wrote:

Um not rly anymore. Old houses, like in fourteenth street area and the like, yes. Super-expensive single new-construction homes which are waaaay beyond budget for many (if not most) ppl looking to buy now? Yes. Huge lots upon which someone can build their dream mansion and which is even more of the above regarding price? Yes.
But for most ppl looking to buy their first home, its either a townhouse, a duplex or out of Lkwd. Check how many old (re:somewhat affordable) homes are on the market here in Lkwd. A handful at best.

And again, many are paying the same price in Jackson as they would in Lkwd for a brand new duplex just would prefer property and privacy.

Amelia Bedelia

Sat, Nov 19 2016, 8:20 pm

amother wrote:

People in Stamford Meadows are renting the top for 1750 or so and I believe it's 2400 square feet so this doesn't sound off..

Stamford Meadows is a chassidish area, next to Belz. I don't think OP is interested in that area.