Many of you potential first-time homeowners racing to buy homes for sale in Sussex County NJ may need some better glasses.
Yes, the $8000 tax credit might be an important factor. Please don't overlook, however, that value does not just equal the lowest list price. Particularly with homes for sale Sussex County NJ, you'll be wise to look carefully at the age of a roof, septic system, furnace, etc. If you only see the list price, your great deal might not be such a bargain when you add in expensive work in the not-too-distant future.
I have two Sussex County homes for sale listed where major systems have been recently overhauled. This should offer peace of mind that you won't been spending a small fortune in the near future on, say, a septic system.
Are the list prices higher than that foreclosure you are considering? Absolutely. Speaking frankly, you may be very shortsighted if you buy a bargain today without factoring the major expenses you will be facing in the next few years. A roof ain't cheap! Septic work carries sticker shock!
Here is a gem of a ranch home for sale in Wantage Township NJ; it has a Branchville NJ mailing address. A meticulously maintained two-bedroom home, the owners have already made huge investments in a roof, front and back decks, flooring, etc. The septic is only 10 years old. Entirely move-in ready.
Sure, 41 Beemer Church Road has a somewhat higher list price than some of the Sussex County fixer-uppers you're considering buying. But when that bargain home for sale needs a new roof in 2 years, will you be prepared to pay the cost? Don't count on increasing home values resulting in your ability to get a home-equity loan to pay for the roof.
Update September 7, 2009 - The price on the following ranch home for sale in Scenic Lakes - Vernon - Sussex County NJ is being drastically reduced by $30000. The new price is just $185000!
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This three bedroom ranch home for sale in Scenic Lakes - Vernon NJ - is another great value! Newer furnace, septic and some appliances. Yes, you'll want to do some painting and perhaps refinish the hardwood floors under the living room carpet. As your fortunes increase, you have the OPTION of updating a bathroom. (Replacing a septic is NEVER an option, trust me!) Buying 12 High Crest Drive in Scenic Lakes might just be a better value than a bank-owned foreclosure on which you'll have some capital expenses in the next couple years!
So, if you're looking to buy a home for sale in Sussex County NJ - or elsewhere - clean your glasses! Stop and consider the longer-term costs of that underpriced foreclosure.
Copyright © 2009, Irene Kennedy, all rights reserved. This blog post from RealtorIrene represents Irene's personal musings.
Considering selling a home or looking to buy one around Sussex County, NJ? Benefit from creative marketing, top negotiating skills and vast real estate knowledge by contacting Irene via the data to the right.
Irene Kennedy, who is a NJ real estate agent with Weichert, Realtors, lives in Sussex County & works from the Hamburg office. Her primary market includes: Augusta, Branchville, Crystal Springs, Frankford, Franklin, Hamburg, Hampton, Hardyston, Highland Lakes, Lake Mohawk, Newton, Ogdensburg, Scenic Lakes, Sparta, Stockholm, Sussex, Vernon, Wantage. With her vast network, however, Irene Kennedy also can help you find an equally talented real estate agent elsewhere.
As the listing agent for this Sussex County house for sale, I had not meet the buyers. They are from a distant area of the Garden State; their agent from the adjacent county. The Mrs. was at work but I met the delightful husband. This gentleman explained he'd been using Google to learn more about life in Sussex County in general and Vernon in particular - before making an offer on my listing.
