The number of days it takes to sell a single family home in northern NJ continues to decline.
source: NJMLS. Info deemed reliable but not guaranteed.
Its way cheaper and comfortable for a senior to stay in your moderate sized house with no mortgage vs. apartment or condo, just expenses of property taxes, (get the NJ senior freeze) usual monthly electric, gas, cable, insurance etc. bills, with expected seasonal maintenance lawn, snow removal. There could a major replacement costs if one needs a new roof after 20+ yrs,.or if property taxes get ridiculous.. As a senior, my preference is the privacy of my own home, would never like apartment living or even consider it. If things get to expensive, move south Jersey to retirement villages with new house.
When you get to the stage where one can’t manage on their own, age related or physical, either home care is preferable, or next step assisted livings runs average $5,000 month and up, they are a gimick, my mom was in one before needing a nursing home $12 -15,000 month. A 92 yr.old neighbor went to Cupola assisted living just last year, was $5,000 month. Hope I’m gone before my money gets pissed away to one of those places.
Not only is this correct, but any seniors that are in the position to want to remain in Ridgewood would stay in their existing house, or, move to a smaller house. The idea that such a target market would choose to live in a Ridgewood apartment is absurd.
Except those with a vested financial interest – who is in favor of this?
I do not know anyone who thinks that this is a good ides.
I will keep my house for a while and eventually move to a lower tax town/state. I am not paying top dollar to live by the tracks in a 2 bedroom apt with one parking spot.
There are many better alternatives for those on a fixed i come. .
Everyone knows this is more lies (aka cover story) to force through a project that is detrimental to the majority of the residents AND the reputation/desirability of the town BUT is lucrative to those in power or their friends.
Promises were made……..
As was previously stated, welcome to Hudson County politics.