Advice On Townhomes In Poconos
I currently live in Parsippany (North) NJ and rent while I am finishing my degree. I have posted b4 but I will reiterate. I currently receive natural gas royalties, they average $1500-$2500 a month (depends on prices and production levels) Those figures can change suddenly (for better or worse). So I have been looking in NNJ and seem to find nothing that I think I could afford. I posted last week about a townhome that my mother told me about for $306k. The mortgage broker was sure I could qualify but my monthly payments would have been over $2400!! So I knew it was impossible. So I have been looking in the Poconos. I have seen brand new townhomes from $125 to $170. They are in nice areas and have lot's of ammenities. I am thinking this would be my only option since it seems impossible to buy in this area of NJ. How do people afford it? They are building townhomes in Morristown, 1 BR are going for over $350K!! So I was thinking of buying perhaps 2 townhomes in Pa and renting out one. My mother bought out there for around $130 and her's is now appraising at $190. Does anyone think this is smart or my only option. I won't like commuting but I don't see any other way to buy in NNJ??
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