As a real estate investor, you have to be constantly on the lookout for new opportunities in the housing market. Ample research needs to be done before you decide to invest a significant amount of money on properties. Savvy investors will know that they should and often invest in multiple states as it is too risky to just concentrate all their properties in one area.
New Jersey is a state made of suburbs and has been a popular spot for real estate investors these days. Before you start investing in real estate in New Jersey, there are some things you should know. Read on to learn more about the best places you can buy an investment property in New Jersey.
Weehawken
Weehawken has been accommodating overflow from crowded Hoboken for a period. As rising property values for Hoboken and Jersey City continue to price buyers out of the market, demand has increasingly been finding its way to Weehawken. The median home value in Weehawken is $768,800 versus a median home value of $712,300 in Hoboken, but Weehawken is less-crowded and has more growth potential. Its prime location just across the river from NYC showcase a superb view of the city as well as offers convenient transit.
Stone Harbor
Stone Harbor is a resort community that attracts visitors looking to enjoy its beaches, sailing facilities and commercial center. Prices can range from $200,000 for a small one-bedroom bungalow to $10 million for a four-bedroom, four-bath, upscale beachfront property. In the continued wake of the Tax Cuts and Jobs Act of 2017, you may see an increased in supply for coastal homes and luxury home.
Asbury Park
Today, Asbury Park is one of the hottest markets in the state. It has benefitted from the renewed interest in vacation rentals along the Jersey Shore, with close to 80% of the population being renters. Anchored by popular attractions such as Asbury Lanes, Asbury Park has seen recently seen a growing influx of twenty-somethings and young professionals.
Cherry Hill
Cherry Hill Township is in Camden County and is one of the best places to live in New Jersey. Cherry Hill are popular for buyers and renters who work in Philly but continually get squeezed out of Center City and suburbs along the Main Line. Median home values are $269,800, much lower than other cities in New Jersey.
Moonachie
After being hit hard by Hurricane Sandy, Moonachie is finally recovering from the flood damage. It offers one of the more affordable properties however this may not last long. The current median home values are only $365,000 but they have been on the rise.
If you are considering buying a home in New Jersey, we have some of the best properties available here in this community for you to consider. Check out the latest New Jersey listings today! Contact NJLux for further inquiries.
