u/Davyislazy

My wife and I are trying to figure out where we realistically see ourselves long term. I’m a therapist and my wife will be one soon as well. Financially, we’re probably looking at maybe 100k for me someday if things go well, and maybe around 80k for her once she finishes school and hopefully more as time goes on. We’ve saved some money for a down payment, but keeping up with housing costs in NJ feels intimidating and almost impossible as everyone else has been feeling.

We currently rent in Bloomfield and love it. Walkability, diversity, parks, great food, and proximity to other diverse hubs in NJ. But buying in Essex County, or Passaic County, feels almost impossible given what we could potentially make and how homes will only get more expensive as years go on. Maybe we could make it work in these counties but feels kind of hopeless long term which really sucks to admit.

People always tell us, “If your jobs can be remote/needed in any state, why not just leave NJ?” we genuinely love it here and would love to make staying here work if possible.

Extra factors to consider, my wife is Peruvian, and diversity is important to us, or at least being near diverse hubs and communities. We don’t need luxury, just somewhere safe, somewhat affordable, welcoming etc.

I know I’m not really adding a strict price range because this is more hypothetical and long-term, but for the sake of argument let’s say around 600k. Even that feels way too unrealistic given what we be making and how homes will only be more expensive, but I guess we can go with it for the sake of argument. My more question I just want to hear people’s experiences and thoughts on different towns so we can maybe begin to go check some out or hear people's takes.

So, if you were in our situation, where in NJ would you look?

EDIT: up the budget to 600k 500k just doesn't feel doable at all even 600k is cutting it with what we could potentially could be making. I am hoping we can make more than what I am expecting.

My wife and I are currently renting in Bloomfield, and lately I’ve been feeling a lot of pressure from people around me saying things like “buy now or you’ll be priced out forever.” It’s starting to get in my head a bit, even though part of me feels like rushing into a purchase right now doesn’t make much sense for us. For example, two friends of ours bought as they felt "prices will only get higher need to buy now!"

I’m a therapist in NJ and still early in my career, so my income isn’t that high yet, and my wife is about to start her MSW, which means our household income will likely be tighter for the next couple of years. We’ve managed to save a-lot of money so far but it's not enough for a home in this area more so as my income isn't high enough or my wife's income. One of the biggest things keeping me grounded is that our rent is stable for where we live and do not increase by a-lot yearly.

Ideally, we’d want to stay somewhere in Essex County, Passaic County, or Bergen County, (far reach for Bergen County) regardless of when we look at home prices in those areas, it honestly feels like a stretch right now and I am concerned it will only be worse 5 years from now for example.

At the same time, seeing other people jump into the market and “lock something in” makes me feel like we might be falling behind. I guess this is how most people feel right now in the US and New Jersey who can't buy right now and are just trying to save or keep up.

Honesty coming full circle there is nothing we could afford now just with my income and without depleting our savings so it's a pointless to stress or even think about this lol

Regardless what is your thoughts?