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Forum -> Inquiries & Offers -> Moving/ Relocating
Is it an investment to buy house in Toms River



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amother
Pumpkin


 

Post Thu, Dec 01 2016, 10:43 am
Hi, we're looking to buy a house in Lakewood. However, we prefer a single house, and for the same price as a new single house in Lakewood, you can get a huge house with much more land and amenities in Toms River. We are thinking about Toms River. In the future, if more frum people move into Toms River, will the value of the houses there go up higher? I can't believe if we buy a new single house in Lakewood in one of the developments, it would be that much of an investment. Does anyone have any information about this? What do people say about real estate in Toms River?

Also, we do not want to live too far from shuls. Can someone there write me the addresses of the shuls so we can determine how long it would take to walk from houses on sale to the shul?

Thank you for any information you have.
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amother
cornflower


 

Post Thu, Dec 01 2016, 10:53 am
what do you mean an investment? for yourself? as for you to live in? or for putting in tenants?

if its for you then toms river is much better. noone knows how much higher toms river will go. right now its high but it can fall or go higher. surely like you say in a developement you wont get as much but a developement has other things and is for different people. toms river is a richer neighborhood. as evidence of the pricing and the style of housing. developement was built for lower income population. which lakewood has a lot of. lakewood is made of bnei torah. so thats your answer.

definitely there are parts of lakewood that has rich people. its not that much though. developement housing is not built as well as the single housing or toms river. the developer usually tries to put in the least amount of money for the biggest gain. automatically you will get less quality. if you buy a house from a non jew that kept up his house and you get an engineer to inspect it then you can probably get more for your money.

noone has a magic wand and cant tell you what the future will be. or we would buy the lottery tickets and be billinaires.
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amother
Ginger


 

Post Thu, Dec 01 2016, 11:55 am
at todays prices, nothing is an "investment"

There is no way of knowing how long it will take for TR to become popular. A lot of buyers are investments. If you are living there, then it is all about location.

Actually even in developments, the price of single family homes has appreciated nicely in Lakewood over the long term. (think Brookhill, The villas, Pine River...) Single family has a lot of value long term.

As investments go, over the last few years the appreciation rate has been higher in Lakewood than in surrounding areas. Look up sales and resales on Zillow

Hope that helps
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amother
Brunette


 

Post Thu, Dec 01 2016, 1:24 pm
1. In Lakewood you can rent upstairs and downstairs.
2. Toms river may or may not take off.
3. People are quicker to rent in Lakewood than outside of Lakewood unless the toms river/Jackson prices are cheaper.
4. School busing is an issue people don't want to be uncertain about. That's why I opted for a smaller, attached house in Lakewood as opposed to a bigger single home in Jackson.
5. Is the house you're looking at near a shul? I don't think there are too many established shuls in toms river. Is it In a neighborhood with other frum Jews?
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amother
Lemon


 

Post Thu, Dec 01 2016, 1:46 pm
I definitely think toms river will go up. So many people are moving out now as you can get a beautiful house for a great price. Lakewood housing is hust going to price people out to move far away.... within two years it will be a well established community with busing, shuls and an eruv IMO. and prices will def go up
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amother
Brunette


 

Post Thu, Dec 01 2016, 1:57 pm
amother wrote:
I definitely think toms river will go up. So many people are moving out now as you can get a beautiful house for a great price. Lakewood housing is hust going to price people out to move far away.... within two years it will be a well established community with busing, shuls and an eruv IMO. and prices will def go up


I wouldn't be so sure. Just as in Jackson, where the people banded together to prevent Oros high school from opening up there, the non Jews are likely to use every law at their disposal to prevent shuls and an eiruv from happening.
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amother
Floralwhite


 

Post Thu, Dec 01 2016, 2:01 pm
amother wrote:
I definitely think toms river will go up. So many people are moving out now as you can get a beautiful house for a great price. Lakewood housing is hust going to price people out to move far away.... within two years it will be a well established community with busing, shuls and an eruv IMO. and prices will def go up




These three are very doubtful.

Neither Lakewood nor Toms River township has any incentive to help people in Toms River get bussing to Lakewood. And getting busing isn't simple even in Lakewood.

Shuls will very likely require zoning variances. Toms River township has little incentive or inclination to grant them.

An Eruv needs money and cooperation from a lot of people.

And all of the above will become even less likely if those who move to Toms River make enemies by fighting things in court or doing other things to attract the attention and ire of Toms Rivers residents
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amother
Lemon


 

Post Thu, Dec 01 2016, 2:03 pm
How many families currently live on im toms river? Where are they davening/ what are they doing about busing
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amother
Tangerine


 

Post Mon, Dec 05 2016, 1:52 pm
I will go against the tide over here and say that in the short term, prices will fall. The market is currently overstocked and people are having trouble selling. Eventually, however, prices will probably start rising again. This is for Lakewood, as well as the mega houses in Toms River.
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amother
Cerulean


 

Post Mon, Dec 05 2016, 2:07 pm
amother wrote:
I will go against the tide over here and say that in the short term, prices will fall. The market is currently overstocked and people are having trouble selling. Eventually, however, prices will probably start rising again. This is for Lakewood, as well as the mega houses in Toms River.


Is this really true in Lakewood now? I know in some areas new houses in desirable complexes, in really bad locations are going for insane prices (think with Quick check in your back yard). But are older homes on established blocks really going down? We are looking to buy a new home to move out of a home that is too small and I keep hoping that will happen.
The real estate agent we were just talking too was almost bragging about how high everything is, but I was wondering if she was just trying to push the highest priced properties.
I do think the fact that it is getting harder to rent basements and the cost is going down home prices may fall slightly, but maybe that is just me dreaming...
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amother
Floralwhite


 

Post Mon, Dec 05 2016, 2:24 pm
I have no idea which way real estate is going but mortgage rates do seem on the rise. So even if real estate goes down it still might cost more. Of course I have no way of knowing which way interest rates will go either. But lately they have been on the rise
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issuer123




 
 
    
 

Post Fri, Dec 16 2016, 3:24 pm
Toms river has a whatsapp group with all the frum familys that moved there. The best is to try to get into that chat to get real status. I can try to get you someones number if you need.
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