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So it's the question I have to ask...why are these towns (relatively) affordable? We've looked at a number of houses and are shocked at the amount of house we can get in our price range. I'm assuming the following:
--proximity to Newark and Irvington
--questions about the high school
--taxes
--safety (although I can't tell if this is overblown)
factor into it. Still, I feel like I'm missing something. Anyone?
So it's the question I have to ask...why are these towns (relatively) affordable? We've looked at a number of houses and are shocked at the amount of house we can get in our price range. I'm assuming the following:
--proximity to Newark and Irvington
--questions about the high school
--taxes
--safety (although I can't tell if this is overblown)
factor into it. Still, I feel like I'm missing something. Anyone?
Insurance. Your homeowners insurance will be high due to the crime rate and proximity to Newark/Irvington. As far as car insurance, a friend who moved from Morris County to Maplewood a few years ago said her car insurance doubled for the same coverage. (it would have been even more but she had a lockable garage at the new home she could put her car into according to her agent) Your life insurance rates will likely also be affected.
You will also need to factor in the cost of an alarm service for your home.
Affordable compared to what is really the question. If you have specific towns you're comparing them to, I can post what the tax rates, school rankings, and crime data are for each.
High school is considered excellent, so I don't think it's that. Taxes are high for sure, but so is all of Essex County. Property crime is higher than average due to proximity to higher crime areas, but that also applies to not at all affordable towns like Millburn. Still, I'd say calling either affordable is for sure a stretch! Guess its all relative and a matter of your own finances.
You're probably comparing them to Millburn/Short Hills and Summit, which are some of the most expensive towns around. And you'll notice that in terms of house for your money, you get less as you move away from Newark and Irvington.
We looked in south orange and Maplewood and were surprised to see that taxes for comparable properties there were higher than in Millburn. Some said this was because the business taxes from the short hills mall offset the residential property taxes, but I don't know if this is a fact. In the end we decided that paying more for a house with lower taxes was better than the reverse. Taxes are forever (and go up, of course).
Thanks, all. Yes, "affordable" is definitely relative! I'm comparing to nearby towns (Millburn, Short Hills) and to lower Westchester, specifically Pelham, where we're also looking. None of this is cheap, for sure. Although I've lived in NYC so long, my sense of affordable/expensive is completely warped. Thanks for the tip on insurance, KoalaNJ -- great point that didn't occur to me.
Thanks, all. Yes, "affordable" is definitely relative! I'm comparing to nearby towns (Millburn, Short Hills) and to lower Westchester, specifically Pelham, where we're also looking.
Westchester county is the most expensive area in the entire NYC metro region, so comparing anything to Westchester will seem affordable!
Thanks, all. Yes, "affordable" is definitely relative! I'm comparing to nearby towns (Millburn, Short Hills) and to lower Westchester, specifically Pelham, where we're also looking. None of this is cheap, for sure. Although I've lived in NYC so long, my sense of affordable/expensive is completely warped. Thanks for the tip on insurance, KoalaNJ -- great point that didn't occur to me.
i moved to west orange because of this logic...west orange houses are more "affordable" relative to the neighboring cities i looked in...mostly because of higher taxes. i also just successfully appealed my assessment, so my taxes will decrease. i won't live here forever, so for now, i'm ok with paying higher taxes and less house...for overall same monthly outlay...to get more house. we get a reasonably high level of service from the town, even though I don't need all of the services, so the taxes aren't horrible for what you get. but we have less retail than many cities, so our taxes are higher (i believe that the short hills mall has to help to some degree!). anyways - i don't need an alarm system, that's bunk. i have a dog, i lock the doors, and i keep valuables locked up in a safe. alarms don't stop theft anyways...they just make a lot of noise while the theft is occurring!
oh - and my car insurance is cheaper than in hoboken, and my homeowners insurance is $700/yr. so i don't know what the insurance cost would be further away from newark, but I seem to be doing ok.
Thanks, all. Yes, "affordable" is definitely relative! I'm comparing to nearby towns (Millburn, Short Hills) and to lower Westchester, specifically Pelham, where we're also looking. None of this is cheap, for sure. Although I've lived in NYC so long, my sense of affordable/expensive is completely warped. Thanks for the tip on insurance, KoalaNJ -- great point that didn't occur to me.
I would agree with previous posters in that if you can afford it, Millburn/Short Hills would probably be a better long term investment as the school system is generally considered the best in the state, making the town highly sought after.
Maplewood and South Orange would make good alternatives if you do want more house for your money, or seem a bit turned off by the "excluscivity" of Millburn. All three towns do have similar crime rates, though Millburn has less violent crime.
Westchester county is the most expensive area in the entire NYC metro region, so comparing anything to Westchester will seem affordable!
In Westchester while theres room for improvement , you do get your $$ worth.
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i won't live here forever, so for now, i'm ok with paying higher taxes and less house...for overall same monthly outlay...to get more house. we get a reasonably high level of service from the town, even though I don't need all of the services, so the taxes aren't horrible for what you get. but we have less retail than many cities, so our taxes are higher (i believe that the short hills mall has to help to some degree!). anyways - i don't need an alarm system, that's bunk. i have a dog, i lock the doors, and i keep valuables locked up in a safe. alarms don't stop theft anyways...they just make a lot of noise while the theft is occurring!
