I am planning to buy a Multi family property in Bayonne ,NJ its close proximity to downtown Manhattan and NYC in general looks like a lucrative investment for first time buyers like myself, even though the property taxes are higher than NCY areas it's access to light-rail system which goes to path train can bring renters to live around here .
I just wanted some insights and some suggestion if this is a good place to buy your first home and what are the benefits for living around here.
Bayonne is a great place to invest. People moving out of Jersey City because they were either priced out, but still want a nice, safe location within walking to transportation, or want more space for their money are picking Bayonne. The closer to the light rail, the better.
I have been doing some research on Bayonne as well, looks like developers are starting to look into this market as a viable place to start developing. Below is an interesting article about 651 units that are planned.
@Yasin Yazdan Ahmed are you looking to live in 1 unit ? as @Jessica Zolotorofe mentioned the closer to the light rail the better, however there are some great pockets on the east side of town as well, eespecialy in the lower numbered streets, @Ari Bildner you can reach out to me i have a great agent.
Lots is happening in Bayonne! It's definitely getting hot, and I am seeing the same renaissance trends that Hoboken and Jersey City went through in the past. Now these two cities are out of reach for many residents, who are looking into living options directly south. Here is a good article (even though a year-old) with the map of new construction in Bayonne: