New Jersey’s real estate market has been performing well in recent years. This is because of its proximity to New York and Philadelphia’s job market. New Jersey’s demand for rentals and its eclectic neighborhoods are high for homebuyers and investors. Whether you are investing, buying or selling, make sure you get the right guidance about when to buy from a real estate agent. Here are some reasons why purchasing real estate in New Jersey is a sound investment.
It is Densely Populated
Investing in Real estate New Jersey for the long term is a great strategy. NJ is the most densely populated state in the US and property is always in high demand. Newark and New Jersey City are among the three top cities with the largest renter share, with the former are 74% and the latter at 70%
The New Jersey market is diverse and exciting but lacks an inventory. Sellers with an experienced real estate agent get an excellent opportunity to sell at top dollar. The booming NJ economy coupled with its diverse neighborhoods and convenient location make it an excellent location for homebuyers and investors.
Energetic and Vibrant Market
New Jersey is one of the most dynamic and vibrant real estate markets in the U.S. NJ is home to national parks, expansive and stunning beaches, and vibrant culture. New Jersey has 21 counties and 52 cities, with the major towns being Newark, Trenton, Peterson, Eliza and Jersey City. NJ is strategically placed and perfect for International trade. It has almost 3000 miles of highway, at least 12 commuter railway lines and nearly 1,000 freight line miles, meaning people and goods can be transported between NJ and North America.
Top Schools
If you want your children to get a quality education, you can consider investing in real estate in New Jersey. The state has top-rated schools and boasts of 63 universities and colleges, including the top-rated Princeton University. New Jersey schools rank very high for learning opportunities and student achievement.
Low Property Crime Rate
New Jersey ranks very high in upholding residents’ safety and cracking down on crimes. NJ boasts of the third lowest property crime rate in the U.S.
Tax Benefits and More value For Your Money
If you work in New York and live in New Jersey, you will not have to pay New York taxes. This will save you 3.5% of your income per year. The sales tax and income tax rate in New Jersey are both lower in comparison to New York.
You get more value for your money if you invest in real estate in New Jersey. You can get affordable housing in New Jersey, but location matters a lot. Houses that are a commute away from New York City and with good schools are more expensive.
New Jersey Is Family-Friendly
New Jersey is perfect for families investing in real estate because the towns are very family-friendly. All of the communities have great parks and summer camps for children. Considering the low crime rate, children are safe playing outside.
With so many great reasons for living or investing in New Jersey, it is clear why so many people opt to live in New Jersey. If you are property hunting in New Jersey and want to get the best possible deals, while investing in real estate, you can call us at 201.568.5668 or email Josh@NJLux.com today!
