[PearlyWrites]

Hello,

We are making a big move in the next two weeks from NJ to Arizona. My husband and I are very excited since we really wanted to change our lives and begin to enjoy living. We both have lived in the Metro area our entire lives and have worked in the busy, fast paced environment of NYC.

We bought a home in Arizona and presently keeping our condo in NJ to rent. But we both said if we got the right price for the condo, we would sell it before the year; possibly even this month before we move. If we rent, we want to hold onto the condo for a year and then possibly sell it.

We are a fairly young couple (under 30) and trying to figure out the best thing to do for investment purposes.

Does anyone have any suggestions?

Thanks!

[KW29]

Hello~
My husband and I relocated from Florida to Georgia last year. We contemplated whether to rent our house out, but decided that being in another state it would be too much to try and keep up with. We sold our house for what we thought was a really great return since we had not been in the house very long when we were relocated. One year later we were talking to some friends who still live in the "old neighborhood" and homes are now going for twice what we sold our house for! The real estate market is booming in Florida right now. So if we had held on to our house we would have made even more money, but we also might have had a lot of problems with the house/renters and being in another state would have made it that much more difficult. I guess you just have to weigh your options and go with what is best for you at the time.

[PearlyWrites]

Hi,

I feel the same way you do; we won't even be close to NJ and our condo has raised in value over $100,000. Of course we wouldn't be getting that much if we sold but between refinancing and using the money for the new home in AZ, it wouldn't be too far off.

We have it listed for rent with a realtor and for sale by owner so whichever seems to work out first is the way we're going to go for now since we are leaving NJ on feb. 16.

Thank you for your help; I don't feel totally lost now as debating this issue back and forth in my head.

Lisa

[NewroticGirl]

Good luck with your move!

Sounds like it's a mass exodus from NJ... I'm going to be leaving the Jersey shore for Kentucky in the next few months!

[PearlyWrites]

Yes, it is totally a mass move from Jersey. Born and raised here, I feel it is time to explore a whole different world.

Good luck with your move to Kentucky. I am networked with quite a few writers from there so let me know if you need any names and I can pass them along.

We can't wait till we are in Arizona in warmer weather all year around.

Thanks!
Lisa

[chdsgrl]

Funny, I am getting ready to move from California to Idaho in 30 days (the countdown has begun!)
In regards to your rental, is there any way to sell and buy a rental closer to where you'll be living? Just might make it easier for upkeep and such.
Now, in saying that, my mother said that over her lifetime she had many chances to buy investment properties and didn't. She wishes she had now, so think long and hard before you get rid of it. My husband's family has several properties that they rent, and after his father died a few years back, his mother has lived comfortably just on her rental income.
Rentals are an excellent retirement fund.

[PearlyWrites]

I agree, rentals are excellent for long term. We were thinking the house we bought in AZ, since we plan to move within 1-2 years, can become a rental property and it would be closer to us.

The condo in NJ we would like to hold on to if we can maybe for a year or two and then sell but it all depends on our expenses and what we can afford financial since the rental will not pay our full mortgage or HOA fees.

Thanks!

[mcmama]

It's a sensible idea to hold on to the condo - great equity, and income producing for rental.
I am also looking at joining the mass exodus from NJ when my son graduates. We moved here because of my ex husband's job, and I have always hated it here. Very crowded, high pressure, high tax, high cost of EVERYTHING! I am considering the southeast - I want to be near an ocean, in a less congested area, where property taxes for a 2 bedroom house are under 3,000 a year. I have been considering coastal GA, Alabama, both coasts of northern FL. Any suggestions?

[NewroticGirl]

It's amazing how MUCH houses cost in NJ! *pout*

Sounds like you're looking for warmer climates, Janet... me, I'd be perfectly happy in the cooler north!

[kvSheldon]

My husband, son, and I also live in NJ. We have been agonizing about leaving NJ and moving down south. We bought new construction about three years ago and we have done very well with our investment. That is one of the postives about living here now and then moving. Everything is so much less expensive in other parts of the country. It's such a hard decision to make. My husbands family lives here in NJ and my family lives in upstate NY and NYC. That is what is holding us back the most. PLus we worry about finding jobs in other cities. My husband works for the NYSE and I work in NJ in Social Services. The commuting is horrible since we live in Northwest NJ.
We have thought about moving to Charlotte or Charleston. Maybe Syracuse since I have family there.
For those moving from NJ... how did you finally make your decision?
Kathy