5 Interesting Facts About NJ Homes

The NJ real estate market has its own set of trends and data to consider. Here are some interesting facts about NJ homes to read about.

New Jersey has always been a spot of interest for many reasons and continues to grow in population. Housing developments and properties are at an all-time high, and many new neighborhoods are getting rebranded as the best places to purchase NJ homes making it a buyers market.

Are you looking to be a future New Jersey resident? You are probably wondering what the details of the Garden State are before you make your move. Let’s take a look.

1. Property Taxes and NJ Homes

Have you factored in the cost of property taxes when you are looking at homes in New Jersey? Finding a home within your budget means factoring in all costs associated with the property.

Certain areas can surprise you by having over $10,000 per year in property taxes. However, if you do some shopping around other areas have annual property taxes as low as $3,500. Another issue is some counties ‘ taxes are raising annually, whereas others have decreased slightly.

2. Towns Where Real Estate Booming

This past year New Jersey has had one of the highest increases in population due to those trying to move out of New York and California because of the pandemic. New construction is popping up all over the state to accommodate this influx of people, and there are also preexisting homes on the market while they last. 

The counties with the biggest real estate booms are Hudson, Bergen, Ocean, and Union. These counties have seen increases upwards of 6% in a short amount of time. Growth may be exciting to some because it guarantees new industry and new homes on the market.

3. NJ Economy

The state of New Jersey did take a hit during the recent pandemic. However, it has been recovering nicely since mandates are being lifted and businesses are reopening at max capacity. The tourists have returned for their seasonal visits, which is a very good sign.

When moving to a new state, the health of their economy will affect home prices and the general state of the neighborhood. 

4. Weathering the Elements

New Jersey experiences all four of the seasons. If you are from an area that doesn’t get bitter winters or hot summers, it may take some getting used to. All four seasons are lovely, but most would agree that autumn is their favorite because the leaves change from green to a variety of reds, yellows, and orange colors.

Read more about flood insurance as it will be necessary if you choose a home situated on or near the water, as New Jersey can get hit with rough storms, and every once in a while even a hurricane will blow through. These storms can raise the levels of the Atlantic Ocean or Delaware Bay. The state is a peninsula which means that it is surrounded by water.

5. The Local Education

Whether you have young school-aged children in your household, someone that will be going to college for the first time, or continuing their education checking in to see how the local school systems are rating is always a good idea. Quality education can be a deciding factor in choosing a new home in a new town and state.

Traveling Around the State

New Jersey may be thought of as one of the smaller states in the country but it is densely populated in many parts of the state. It falls at number 46 out of 50 for its size because it is only 7,419 square miles of land. However, New Jersey is the most heavily populated state per square mile with over 9,000,000 registered residents.

Though the residents generally are fast and aggressive drivers, traffic can still be quite heavy. Getting through the state which is 150 miles long and about 70 miles wide can take hours longer than expected if you travel at either of the rush hours.  

Will you be working in New Jersey or commuting out of the state to work? Many people live in New Jersey and commute to Pennsylvania, New York, or Delaware for work. Depending on where in the state you live and where you work it may be easier to take the train to work.

Take a Trip to the Garden State 

If you have never been to New Jersey, perhaps taking a trip to tour around the state would give you a good idea. Flying into Atlantic City airport is arguably the easiest way to get there, and the souther Jersey Shore is a good place to start your state tour. 

Ask the Locals

The residents are a 50/50 mix of New Jersey natives and transplants from other states or countries. New Jersey residents have a bad reputation that precedes them as being rude and obnoxious, which is really just a tough exterior but can be very friendly and personable especially if you start asking questions about moving to the state.

State Perks

When it comes to the high points of New Jersey there are so many things to be mentioned. The fresh local seafood, the miles of beaches and iconic boardwalks, the casino playground in Atlantic city, and being so close to big cities like Philadelphia and New York are all things that people love about the state.

Besides the aforementioned attractions, New Jersey is known as the garden state and produces top-quality crops such as tomatoes, corn, and lima beans. If you have ever had a Jersey tomato in the late summer, then you know what we are talking about- if not, you are seriously missing out! 

If you and your family enjoy getting outdoors and staying active, New Jersey is a great place to do so with something for everyone. Hikers, bikers, and runners have plenty of lands to explore in the 50+ state parks and protected lands. Also, the surfers, swimmers, and water sport enthusiasts have 130 miles of coastline and numerous lakes and rivers to play in.

Moving to the Garden State

As you can see, there are so many good points to becoming a New Jersey resident. As if you weren’t sold on NJ homes, already, now you can understand the appeal.

If you are curious about getting more insider tips about home, health, and finance check out our other hot topic blogs.

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