Updated over 6 years ago on . Most recent reply
New Investor: Hudson/Bergen County NJ towns w/ most apprec. value
HI all,
I am looking to invest in some property. strictly for investment purposes in NJ. Hudson or Bergen County. I would like to purchase a condo (MAYBE - single family home, but let's discuss condo first) that has the most appreciation value at this point. In your opinions - what is the next town that is about to boom for NYC commuters since hoboken and jersey city are expensive now. What I am really looking for is something I can renovate and buy on the low. Regardless of this however - in everyone's opinion... where shall i start looking? Cliffside park?Palisades Park? Union City? Does JC still have room for growth in the heights or Journal square?
I want to buy something, renovate it, rent it out, wait a few years for appreciation and then boom sell and move on to the next. woud love some advice here. Was about to close on a condo in Edgewater NJ but it was an amazing luxury building, though needing renovation (the unit) the monthly maint was KILLER for me, i would have had to PUT money into it every month even with a renter. thoughts please!!!
thnk yoU!
Most Popular Reply
I agree with @Jessica Zolotorofe the West side of JC is getting hot now but there are still some good deals to be had. I picked up a duplex this month up the block from the train station which is a huge amenity for renters. The best advice is to stick within walking distance of mass transit as you have a better chance of attracting people with good NYC jobs in tech and finance who are simply priced out of the rental market over there. Additionally the commute is roughly the same (or shorter in many cases) from JC to the city than it would be if you lived in Brooklyn or the other boroughs. Lots of big new development coming to the west side including luxury apartments and retail so that area is definitely on the way up and offers better value than most of Hudson County.