House vent | Imamother

amother

Ginger

Sun, Jun 20 2021, 4:40 pm

DVOM wrote:

Wow.

When we moved to Lakewood as newlyweds, out spacious 2 bedroom basement was 425$ a month.

Wow wow wow.

Wonder what year this was and what area you rented I ? I got married 20 years ago and my basement rent in the 600s was considered very good (yeshiva area 2 br in basement of old townhouse.....but I never saw for less than 550 even in "far out westgate" after it opened and market was glutted)

amother

Melon

Sun, Jun 20 2021, 4:48 pm

amother [ Ginger ] wrote:

I can believe it. I got married four months ago when the market was super tight. When we were looking at apartments, yes many 2 bedrooms apartments were 1400 + utilities, but we looked at a 2 bedroom brand new apartment in Belz where I believe they were looking for 850, utilities included. And this was at a crazy time in the market...

If you go far out enough you can still get cheap.

We wanted to be central so we didn't go with it, but we definitely could've got a lot more for our money further out.

amother

Bluebonnet

Sun, Jun 20 2021, 5:12 pm

Op, that’s really rough! I know it’s hard to hear, but try to stay strong I’m your emunah! Hashem has a plan for everyone and you will find a home iyh in the right time!! I just heard a story of a couple with 5 kids in a basement who put the lowest bid on a home in Jackson and the owner took it to spite his wife who was getting the house in their divorce settlement.
Stay strong!!

amother

Goldenrod

Sun, Jun 20 2021, 5:14 pm

amother [ OP ] wrote:

We were hoping to go to Hampshire hills. The only house on the market is asking 899, nowhere’s near our budget…we’re flexible with where we go now but it’s disappointing. Our friends all bought there for 450-500

I feel for you. We are in a similar position to you. We also ba"h have a few kids, live in an apartment, and have been saving up the last few years for a down payment. We started looking in Hampshire Hills (and elsewhere...) about a year ago and cannot believe how the prices have jumped so much!
It's hard to know how things are going to turn out. Many times when the prices went higher I thought, wow, is someone really going to pay so much? And then I heard someone did...
Be'ezras Hashem we will all find what we are looking for, hopefully soon, and easily and for a price we can afford!

amother

Scarlet

Sun, Jun 20 2021, 5:25 pm

Im in a similar position with more kids kah. Its tough! I truly believe that when it's the right time for me to move, Hashem will send me a house. How? Hashem doesn't need my help!!! I've heard enough stories to know that when its the right time it will work out. Keep davening and remember Hashem iw above statistics. You gotta believe!!

amother

Sun, Jun 20 2021, 5:39 pm

amother [ Teal ] wrote:

Hampshire hills was that cheap because it was a new Neighborhood. Of course years after its established you won’t find the same prices. If you want to spend 300k (which is tons less than virtually any other established community), you will probably need to go to a very new Neighborhood.
I am sorry but that’s a very low price to expect to get a decent sized house in a Jewish Neighborhood.

We don’t own , by the way, but you do have to be realistic. There’s a lot of grey between the 900k townhouses in Lakewood and the 300,000 ranches in Manchester.

Huh?

I never said my budget is 300k
We knew what the prices would be like even after it was established, until the market went crazy from corona. Nothing to do with it being established or not…

amother

Sun, Jun 20 2021, 5:41 pm

amother [ Bluebonnet ] wrote:

Wow!

amother

Bluebonnet

Sun, Jun 20 2021, 5:49 pm

amother [ OP ] wrote:

Wow!

I’m sure you know ur options but my sister just bought a beautiful home in Manchester.. she didn’t pay so little but she wanted a lot of upgrades. I’m sure there’s homes avail there’s in the high 4s- low 5s

amother

Lightcoral

Sun, Jun 20 2021, 5:57 pm

OP, if I would be in your shoes, I would buy farther out as long as I'm within 30-40 minutes walking distance from minyan.

DD bought in outskirts 1.5 years ago. Was 40 minutes till minyan. After 1 year, they have regular minyan already. And her house is now worth double.

In heimish areas prices will either stay the same or go higher up. IMHO don't wait for more inflation.. grab something now.

amother

Oleander

Sun, Jun 20 2021, 7:22 pm

amother [ Lightcoral ] wrote:

I don’t believe the homes that are being sold for crazy prices will be maintained at those prices long term.
I remember a time when this happened in rainteee and Coventry and other areas. and the market crashed. The realtors push up the prices beyond realistic amounts. Right now everyone is going crazy with buying but it comes in waves, just like the rental market.
I’ve seen it rise and crash already twice during my time in lakewood.
(I actually know first hand I bought a house during one of the crazy house rushes and it is still below what I paid. And at the time it was a bidding war. I’m not the only one. We have friends same stage as us in similar situation ).

amother

DarkCyan

Sun, Jun 20 2021, 8:39 pm

amother [ Oleander ] wrote:

It very much depends on the neighborhood. Coventry and raintree tend to go back down. But many other areas only go up.

amother

DarkCyan

Sun, Jun 20 2021, 8:40 pm

amother [ Lightcoral ] wrote:

I feel pretty confident Manchester will spike the same way Jackson and tr did.

amother

Hyssop

Sun, Jun 20 2021, 9:07 pm

amother [ OP ] wrote:

Vent
We have three kids in a small basement rental. We made it through all these years (6!!) by knowing that we were saving money to buy a nice house in Lakewood, Jackson or Toms River soon. Now that we finally saved up money, we can barely afford a nice house in the boondocks, and even those don’t exist in our budget
We feel so frustrated, Like all our hard work was for nothing and we have nowhere to buy a house that we would like
Our neighbors all have 4+ kids in basements so we know that physically it’s possible to stay but we also don’t want to be in a basement forever

I didn’t read any responses yet but I could have wrote this post! Everything you wrote applies to me! It’s a crazy situation and I hope it changes real soon!

amother

Hyssop

Sun, Jun 20 2021, 9:16 pm

amother [ Teal ] wrote:

No it’s not because Hampshire hills was a new neighborhood. I know people that bought there in August and September 2020 for low 500k range. 4 months later the price went up over 100k and now there isn’t anything less than abt 800k. If the price happens to start at 700k, there is a bidding war which makes the price way higher. This is totally insane.

amother

Sun, Jun 20 2021, 9:22 pm

amother [ Hyssop ] wrote:

Exactly!

amother

Hyssop

Sun, Jun 20 2021, 9:31 pm

amother [ OP ] wrote:

Exactly!

And not only that. You still get ugly outdated kitchens and you need to replace the carpet and paint the rooms and very often you need to redo the bathroom. For this price you should atleast get something perfect.

amother

Daphne

Sun, Jun 20 2021, 9:38 pm

Op I really feel for you

I don't know if this was your expectation but I feel like this needs to be said. I'm in Lakewood a while and I hear Brooklyn people say all the time oh for 450 we would have a mansion with a pool in toms river ... Or Jackson... And I feel like shouting.

No you wouldn't. Not anywhere semi established will you find a 3000 and up sq house (with a pool to boot) for under 6 or probably 650 unless your willing to be no where near a minyan. Yes people might move and the area may become established or you will forever be in no man's land. Even 650 is very low in a decent market for a really established area.

The market is crazy this minute but brooklynites tend to have unrealistic expectations to begin with.

Forgive me op if none of this applied to you

amother

Whitewash

Sun, Jun 20 2021, 9:41 pm

amother [ OP ] wrote:

Yes, I turned down buying something just about 2 yrs ago in Lakewood and now everything has skyrocketed. It’s terrible. I don’t believE prices will come down, they’ll only go up because everyone wants in those areas…. Waiting is a bad mistake.