When the real estate market is booming, it’s more important than ever to make the right choice for your home. You don’t want to overspend, and, more importantly, you want to know that your property will retain value over time. One of the keys to not only keeping but also increasing value is buying in the right area.
Dennis and Marshall Lynch are real estate experts who specialize in making these kinds of decisions. Based in Rumson, New Jersey, they can examine the market and evaluate whether it makes sense to buy, sell, or wait.
When deciding where to buy a home, it helps to know where to start looking. These are some of the up-and-coming areas in New Jersey real estate.
Located in Hudson County, Bayonne is a city of 61,000 people. It is popular with commuters from New York City, and the long-awaited completion of a ferry terminal is sure to make it even more enticing. With attractions like Bayonne Park and the Hudson River Waterfront, Bayonne saves money compared to buying in places like Jersey City, without sacrificing lifestyle and accessibility. Home prices in Bayonne currently average in the low- to mid-$400,000s.
Another great option for New York City commuters, Bloomfield Township is known for Brookdale Park and Bloomfield College. Its downtown has recently been undergoing redevelopment, and its proximity to other, more expensive cities makes it an appealing option. With quiet neighborhoods and good schools, the median home price in this area is in the upper-$400,000s.
Hackensack, a city of around 44,000, is a close-knit community. It is home to the New Jersey Naval Museum, and revitalization projects in the city have led to an increase in property values and development. The average price of a home in Hackensack is in the upper-$300,000s, a significant increase over previous years.
Although it’s less ideal for New York City commuters because of its distance and lack of a train line, Jefferson Township is nevertheless an excellent option for those who either work from home or don’t need regular access to the city. The local natural features like lakes and forests, as well as its low crime rates, have helped increase the number of homebuyers in recent years. Home prices in the area range widely depending on size and location, but they average in the $300,000s.
Located 30 miles from New York City, Oakland is home to around 13,000 people. This borough has great spots for hiking and outdoor recreation, as well as farmers’ markets. While Oakland has typically been a more affordable area with starter homes available at under $400,000, an increase in sales volume and new construction has raised the average home price to the $500,000s.
Another charming borough, Somerville, is a great mix of older homes and new development. The area is particularly appealing to foodies because of its diverse restaurants and walkable downtown area. Newly developed townhomes starting at $500,000 have increased the average home price, which is around $400,000.
Prefer a home on the coast? Ventnor City is a small town of around 10,000 located south of Atlantic City. Featuring a boardwalk and restored theater, Ventnor City is a great option for those who want the seaside feel without all the expense of a bigger city. Home options range from properties built in the early 1900s to brand-new developments, and average prices are in the mid- to upper-$400,000s.
The Experts You Need
Buying a home is one of the biggest decisions many people make, and having the best possible guidance is critical. With ten years of experience in real estate, Dennis Lynch has the background to give you the advice you need. His son, Marshall Lynch, has spent his life watching and learning from his dad. Together, they bring the knowledge and expertise needed to navigate a complicated, ever-changing market.
Contact Dennis and Marshall Lynch to ensure that you make the best possible investment in New Jersey real estate.