Building my home here in NJ possible?

[Jonathan Rivera]

Hey guys, I needed some advice on new construction here in NJ.

Me & my wife want to purchase a second home as our primary home but prices on houses are super over priced and just not worth it especially with inventory being so low & the market just all twisted.

My thought was to maybe pick the town I want to live in and potentially see if I can get vacant land to build on obviously.

I wonder if maybe it will cheaper to do this strategy instead of getting a loan for 600-700K home that still needs work and I’m not happy about it..

thoughts?

[Matthew Morrow]

Quote from @Jonathan Rivera:

Hey guys, I needed some advice on new construction here in NJ.

Me & my wife want to purchase a second home as our primary home but prices on houses are super over priced and just not worth it especially with inventory being so low & the market just all twisted.

My thought was to maybe pick the town I want to live in and potentially see if I can get vacant land to build on obviously.

I wonder if maybe it will cheaper to do this strategy instead of getting a loan for 600-700K home that still needs work and I’m not happy about it..

thoughts?

 Hey! It’s a challenging market in NJ. Building a new home could be a smart move, especially given the high prices for existing properties and low inventory. Exploring vacant land in suburbs or up-and-coming neighborhoods could offer you cheaper build costs and potentially lower taxes as well. Our team see this frequently state wide.  

Just keep in mind that construction costs can add up and timelines for building can vary. If you're considering this as an investment property, it's also important to analyze the potential return on investment and rental market in those areas. Ultimately, if you find the right land and feel confident in the building process, it could be a great way to create a space that meets your needs. Good luck!