Expensive Zip Codes: Lifestyles of the Rich and Famous

July 6, 2014 in New Jersey's Best, Real Estate

Forbes has named Alpine, New Jersey one of the top ten most expensive regions in the country. This demonstrates a certain type of renown. But is the expense worth the prestige?

Why Alpine, New Jersey?

Topping a Forbes list draws attention to the town. People wish to get a taste of the life that they (currently) do not lead. Numbers play a large role in how Alpine attracted the attention necessary to top Forbes list of expensive neighborhoods. Most homes in the town sell for $4 million to $6 million. This puts Alpine, also known as Beverly Hills East, at number 2 on the list.

 

What Does the Neighborhood Look Like?

Alpine, obviously a rich town, is known for the grandeur of its homes. Mansions make up the majority of properties within the town. There are few commercial buildings and everything always looks new. When land is bought, the older homes are often knocked down to make way for a more modern version. This allows individuals to make marks on the community. The mansions are personalized through this process.

How Does the Wealth Harbored in Alpine Impact Residents?

Money grants more options. More funding allows residents to create the town they wish. It provides flexibility where it may otherwise not exist. Alpine residents have an enviable amount of freedom.

Ways in Which Extraneous Funds Can be Used

Alpine has the money to make the streets safe. Funds can be used towards providing police and fire departments with state of the art equipment. Schools should be able to afford facilities and materials that benefit education. Infrastructure should have funds available for use to keep the town in good shape. There are many benefits in being considered a wealthy neighborhood. Yet use depends upon the people. Are funds being used in the most efficient way?

How Does Use of Funds Impact Alpine’s Status?

Currently Alpine has a high placement where residential value is concerned, but that is subject to change. The town must use funds wisely in order to maintain its current status. If funds are used in an inappropriate manner, the value of properties within Alpine might drop. Residents wish to maintain a level of prestige, which takes work.

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