It’s difficult to set a budget for a home purchase if you aren’t sure just how much houses cost in Scotch Plains. Real estate websites provide valuable information on average home prices, but you’ll also need to consider a few factors that affect the price of housing.

What You’ll Pay for a Scotch Plains Home

The median price of homes that have sold recently in Scotch Plains is $599,100, according to Zillow. Of course, many people who bought homes paid more or less than the median. For $350,000 to $500,000, you’ll find fixer-uppers and small starter homes, while $800,000 to $1,000,000 will buy you a home with a spacious floor plan, a large yard, and the latest upgrades and amenities.

Location Is a Key Consideration in Home Prices

Location is the first thing a real estate agent considers when setting the price for a home. If you don’t mind living near an airport, railroad tracks or an industrial area, you can find a house for an amazingly low price. Of course, prices for these homes are so low because most people aren’t willing to put up with the noise of jet engines or the smell from the town dump in exchange for a smaller mortgage.

You’ll pay more for a home if it’s located in a safe, attractive neighborhood yet offers a short commute to New York City and nearby business centers. Although you may not want to live next to the airport or train station, you probably won’t want to drive far to reach them either.  Homes that are close to stores, restaurants, movie theaters, gas stations, medical offices and other services will also be a little pricier than those in a more rural area.

Property Condition Can Increase or Decrease the Price

Obviously, the condition of a home also affects the price. Homes with leaky roofs, failing HVAC systems, or outdated kitchens and bathrooms are less expensive than newer, updated properties. The condition of neighboring homes is a consideration too. A well-maintained home may be priced lower just because it’s next to a neglected eyesore.

Recreational Opportunities May Also Play a Role

Parks, trails, golf courses and other recreational opportunities make an area more appealing to buyers and raise home prices. No matter where you live in Scotch Plains, you’ll probably be close to one of the 13 municipal parks or two public golf courses.

Good School Districts Increase Prices

Whether you have kids or not, you’ll need to think carefully about the quality of the school district before you fall in love with a house. No matter how attractive the houses are, an underperforming or unsafe district will lower home value and sales prices. The Scotch Plains-Fanwood school district is one of the best in the state and was designated a high-performing district by the State Department of Education in March 2019. Niche.com’s school ranking gives the Scotch Plains-Fanwood District an A rating overall.

Age of the Home Affects Cost

The price you pay for your new house will also be affected by the age of the home. Older homes can be a good deal as long as you understand that you’ll need to set aside some money to cover repairs every year. Replacing old HVAC systems and roofs can cost thousands of dollars and quickly wipe out any savings you may have realized by buying an old home.

New homes may be more expensive, but offer amenities you may not find in an older home, including;

• Spacious floor plans
• Large closets
• Attached garages
• Master bedroom suites
• Updated kitchen and bathrooms
• Multiple bathrooms
• Energy-efficient design and appliances
• Finished basements
• Fireplaces

When you live in a new home, you won’t have to worry about making major repairs for years to come. The warranty offered by your builder will cover any issues that might occur during the first year.

Country Classics is proud to have built and sold seven beautiful single family homes in the heart of Scotch Plains, NJ. This outstanding community may be sold out, but we have several other new home opportunities in the Central New Jersey area. Contact us today to learn more!