New Jersey real estate continues to be an attractive option for homebuyers as the state offers excellent educational, career and entertainment opportunities. Long thought of as a sprawling suburb of either New York City or Philadelphia – depending on your perspective – the Garden State is home to nearly nine million people.
So why purchase New Jersey real estate, as opposed to property in nearby Mid-Atlantic states such as New York, Pennsylvania or even Delaware? Well, none can match the blend of desired attributes found in New Jersey.
Consider the following five reasons why you should buy New Jersey real estate.
Reason 1: Location … Location … Location.
With easy access to major cities in New York and Philadelphia, New Jersey residents can not only seek out various professional prospects , but also cultural and entertainment choices. From your front door it may be a short drive, train ride or ferry trip to a thriving metropolis. Don’t forget, however, that New Jersey itself boasts several of the world’s largest corporations and first-rate entertainment, dining and shopping destinations. Wherever work or play may take you, New Jersey is the perfect starting point.
Reason 2: Appreciation.
New Jersey real estate is first and foremost an investment. And while the recent struggles of the national housing market have been well-documented, New Jersey properties are still in demand. According to the Federal Housing Finance Agency’s August 2009 report, New Jersey home prices have increased by more than 10% over the last five years, and by more than 130% since 1991. If anything, now is the time to buy.
Reason 3: The rental market.
Of New Jersey’s nearly nine million citizens, 65% own homes (2008 census). If you are interested in New Jersey real estate as a means to generate rental income, the market is clearly significant. Furthermore New Jersey, which maintains the nation’s highest population density, continues to welcome new residents (3% growth between 2000 and 2008 according to the census). The potential for a positive return on investment in New Jersey – where families earn the second-highest median income in the U.S. – is evident.
Reason 4: 127 miles of coastline.
Who can resist a day at the Jersey Shore? Millions of New Jersey residents live within minutes of the state’s many beachside hamlets. Whether you’re a fan of Cape May’s famed boardwalk, Sandy Hook’s natural serenity or Spring Lake’s classic mansions, the Jersey Shore presents something for everyone. After all, what’s more valuable than New Jersey real estate? New Jersey real estate with a water view.
Reason 5: Education.
New Jersey’s public school system is consistently ranked among the nation’s best. And when high school is finished, the state offers 20 four-year colleges. In fact, 33% of the population holds a bachelor’s degree or higher.