All Forum Posts by: Bony Mathew

@Bony Mathew most get afraid of property taxes here in NJ when coming from other areas.  The one thing I like to point out is to look at the rent/tax ratio.  You'll see in most cases that NJ is right in line with other major metropolitan areas around the country.  

Bony Mathew Congrats on your new job and good luck in NJ. We literally have everything here. Most people won't admit it, our state rocks, we have something for everyone. Side note, my sister and her family just moved to Charlotte from Bergen County in July of this year. Unfortunately, she informed me you will experience sticker shock when looking at the taxes on properties of comparable value in Northern NJ vs. Charlotte. Have you visited NJ in the past? And are you moving to Hudson County strictly based on its proximity to your new job?

Bony Mathew We don't really have standard condos in the more popular areas. They're mostly row homes and apartment buildings that have the condominium form of ownership, but not your typical condo development you're used to seeing. There is an area of JC on the other side of 440 that is a bit removed from the "up and coming" part of the city, but it's a beautiful development, very family friendly, clean and safe, and far more reasonably priced than down here. More comparable to Bayonne pricing probably. It's called Society Hill if you want to check it out. If you have a little bit more capital and want to invest Downtown to lease out, real estate is hotter than it's ever been, but price tags are steep and most of these places are old and need some love. The alternative if you just want some smaller scale steady income, is buying a unit in one of the newer buildings. You can usually collect rent far in excess of your carry costs, but again, big ticket initially and not as huge an upside as some alternatives. Then there is the option of buying in one of the neighborhoods that haven't quite gotten there yet, but should if you have a few years to hold onto the property, like JSQ or Bergen Lafayette, but the rental rates right now are pretty low as the neighborhoods aren't the most desirable and inventory is low on flips or fixer-uppers. Anyway, welcome to NJ and best of luck!

what type of property are you looking to purchase (new condo, brownstone, distressed or already move in ready property)?

Hi @,

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Hi there! I have lived in both downtown JC and in Hoboken and really liked both cities but depends on what you are looking for. Both areas are pretty expensive right now but you can probably find better deals in the Heights of Bergan Lafayette if you want to be in JC. Hoboken is nice because it is by the water and lots of cute boutiques, bars and restaurants and moms with strollers and dogs everywhere.  Transportation to NYC is great too. However, if you are looking for more diversity and better restaurants JC is great for that and has a more urban feel. Feel free to let me know if you have any more questions!