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Old 09-28-2021, 09:50 PM
 
4 posts, read 4,755 times
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Hello


I am currently in NJ, going to work 8 days a month ($140 K salary), rest working remote; was thinking about moving to FL, and flying back to NJ during those 8 days,



If I buy/mortgage a house in FL, with ticket and hotel combined, I would still pay less monthly than if I mortgage an overly priced House in NJ. Any ideas? Is it a silly idea?
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Old 09-29-2021, 02:01 AM
 
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These days, home prices in south FL aren’t much cheaper than in NJ, if at all. Fort Lauderdale median home price is in the 500s, and while tax rates will be a little less than Jersey, homeowners insurance will double. Of course, it depends the area in NJ you’re moving from, and the area in South FL you’re moving to.

I made the move from Connecticut to south Florida and haven’t looked back.
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Old 09-29-2021, 06:15 AM
 
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Thanks a lot for your reply. Which cities in South Florida do you recommend?
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Old 09-29-2021, 06:51 AM
 
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Quote:
Originally Posted by Shayan123 View Post
Hello


I am currently in NJ, going to work 8 days a month ($140 K salary), rest working remote; was thinking about moving to FL, and flying back to NJ during those 8 days,



If I buy/mortgage a house in FL, with ticket and hotel combined, I would still pay less monthly than if I mortgage an overly priced House in NJ. Any ideas? Is it a silly idea?
Sunsentinel just had article on how inflated the market has gotten, how today's buyers probably won't recoup their investments if the market changes.
https://www.sun-sentinel.com/real-es...tvm-story.html

The 8 days you go back is that in a row? Have you factored in the cost of a hotel for 9+ days/rental car? Its not just a round trip ticket.
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Old 09-29-2021, 07:22 AM
 
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Quote:
Originally Posted by City Guy997S View Post
Sunsentinel just had article on how inflated the market has gotten, how today's buyers probably won't recoup their investments if the market changes.
https://www.sun-sentinel.com/real-es...tvm-story.html

The 8 days you go back is that in a row? Have you factored in the cost of a hotel for 9+ days/rental car? Its not just a round trip ticket.

Yes, in a row, and yes hotel+plane+drive/uber to the hotel, still (I think, by looking at property lists) I can get with $250-$300 K what $500 K buys me in NJ . I might be wrong
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Old 09-29-2021, 08:16 PM
 
21,616 posts, read 31,180,666 times
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Quote:
Originally Posted by Shayan123 View Post
Yes, in a row, and yes hotel+plane+drive/uber to the hotel, still (I think, by looking at property lists) I can get with $250-$300 K what $500 K buys me in NJ . I might be wrong
Yeah, where are you looking though? And where are you coming from in NJ?

Generally, 250 will get you a house in a neighborhood in greater Fort Lauderdale (and south FL in general) you definitely don’t want to live in (or a house that’s in need of some work). Working class neighborhoods will cost you 400+, while upper middle class neighborhoods will start 6-700k and higher.
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Old 09-30-2021, 08:08 PM
 
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Yeah 250k won’t get you much of anything (maybe a small condo) in a decent neighborhood. I just moved to Hollywood hills and our neighborhood if the houses are decently updated are 550-600k. We were lucky our house was just a bit dated. But we were renting in a bleh neighborhood in Fort Lauderdale, and the okish homes in that neighborhood were 400k plus. But if you can make it work, south Florida is a great escape from your cold winters.
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Old 10-01-2021, 07:15 AM
 
4 posts, read 4,755 times
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Quote:
Originally Posted by kidyankee764 View Post
Yeah, where are you looking though? And where are you coming from in NJ?

Generally, 250 will get you a house in a neighborhood in greater Fort Lauderdale (and south FL in general) you definitely don’t want to live in (or a house that’s in need of some work). Working class neighborhoods will cost you 400+, while upper middle class neighborhoods will start 6-700k and higher.

I live in Teaneck, NJ (Bergen County), looking for somewhere affordable. What other states are currently affordable as far as real estate market?
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Old 10-01-2021, 10:29 PM
 
21,616 posts, read 31,180,666 times
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Quote:
Originally Posted by Shayan123 View Post
I live in Teaneck, NJ (Bergen County), looking for somewhere affordable. What other states are currently affordable as far as real estate market?
You may want to look into the Tampa/St. Pete area for more affordable options, though these days you may not find much.

In terms of affordable states, maybe NC (Charlotte/Raleigh) or TN (Nashville/Knoxville). You won’t get the great year round weather of FL, though.
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