Would you Rent or Buy in Lakewood Now?

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Forum -> Inquiries & Offers -> Moving/ Relocating

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Tekky

Tue, Feb 02 2016, 4:46 am

The market is very high right now to buy a house - but rental prices are going down down down.

We're moving to Lakewood soon and I want to know if you think it's worth buying right away so that we don't throw money in the garbage every month on rent, or do you think the market will go down eventually and buying now at an all-time high is a poor choice.

Need some advice - anything would be appreciated. What do you think?

Chayalle

Tue, Feb 02 2016, 8:25 am

If the rental market is cheaper, it might be worthwhile to rent for a bit to give you a chance to get acquainted and more of an idea of where/what you should look for when you buy.

I don't think selling prices are going to go down much in the near future.

zcc

Tue, Feb 02 2016, 8:31 am

If rent is cheap ( depends on the area) I think renting is a good idea so that you take a bit of time getting aquatinted with diff areas of lakewood (unless you know them...) before you buy.
If you know the area you want... Then buying is prob a good idea - prices are still going up and like already written - I dont either think its going down so soon - itll prob get even higher.

zcc

Tue, Feb 02 2016, 8:32 am

Ooops- ddnt realize thats basically what u wore - so I second it all

justmarried:)

Tue, Feb 02 2016, 8:57 am

Buy. Housing prices will not go down. if you don't buy now you may not be in a position to buy later

naturalmom5

Tue, Feb 02 2016, 11:59 am

If you are a homeschooling fanatic or have grown up children or aren't planning on children for whatever reason...

WELCOME WELCOME..!!! Its really a very nice affordable place

If you have schools age children , see a psychiatrist before moving here

sourstix

Tue, Feb 02 2016, 12:36 pm

natural mom please tell me this was sarcasm.

the rent is very low now bec there is a lot of building now and there is a big supply. eventually that will take a break and rent will go up. so now its great to rent.

buying now for any new yorker is a dream. the prices r considered great for nyers. but get your act togethere and buy bec the prices are going up everyday. look on zillow and see whats going on. amazing!

amother

Honeydew

Tue, Feb 02 2016, 12:50 pm

If you know nothing about lakewood you may want to rent just to get an idea of where you want to live so you don't buy and regret it later.

As much as prices keep going higher I wonder if there will be a collapse eventually.

(We bought our home at the last height of the market. 2005 - home prices in some areas still haven't reached that high again, like in Conventry and rain tree then prices were insane. My house is still worth less then I paid at the height then then the market collapsed and homes were dirt cheap and lost a ton of value. Its climbing again faster and in many areas much higher then before).

(Its hard to get into school but Once you do most schools are fantastic!)

mommyla

Tue, Feb 02 2016, 1:59 pm

naturalmom5 wrote:

Goodness, would you stop? There are plenty of nice normal people here. I am raising children here. No, I am not burying my head in the sand when it comes to Lakewood issues. Enough already.

OP, rent is really low now and housing prices are high - like PP, I'd say to rent for a while until you find a neighborhood you like (which naturalmom5 clearly hasn't) and then start looking to buy. Normally I'd say that the housing prices are likely to go down again, but with the mass exodus from Brooklyn I'm not so sure. My house value has gone up significantly since I bought it a couple of years ago, and the prices just keep going up.

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