Has it ever crossed your mind to buy a second home in Newark, NJ? Buying a second home can be a great investment and one that can pay off quickly if you act smart about it. Now let’s talk about the location: Newark is a city with the biggest population in the state of New Jersey. However, the population counted just over 300,000 people in 2020. It is also one of the oldest cities in the USA and hosts one of the busiest airports. Depending on your preference, you can opt for a house or an apartment in this area. The cost of living is much cheaper when compared to New York City, which is located very close by. You can look into moving companies in Newark, NJ, and, now, let’s talk about 5 reasons to buy a second home in Newark, NJ.
You can buy a second home in Newark NJ for vacations
Not all of us go for fancy vacations in 5-star resorts somewhere in the Caribbean. Some people opt for a more peaceful vacation with fewer crowds. They want to be somewhere they can still feel comfortable and homey but not stay in their primary home. If this describes you, buying a second home in Newark, NJ can be exactly that experience. If you buy a house in Newark, you can plant your own garden, meet your new neighbors, or go for long walks. You can go sightseeing and enjoy many events hosted here. And even though some sights require you to buy tickets, there are also many things that you can do for fun- and they are free.
Considering the small distance from NYC to Newark, this can also be your weekend getaway home. You can hide from the big city’s hustle and bustle and it’s just a small drive away.
Reduce your commute to work
Now, sometimes it can take us a really long time to drive to work and drive back home at the end of the day, but we really like where we live and we are not ready to let it go. If Newark happens to be closer to your work than your home, you can consider buying a property in Newark, NJ and thus reducing your daily commute during the working days. In the long run, you can always have the option of renting out one of the properties to make some cash.
You can start redecorating the property to your liking and consider making it your primary home when you decide to retire. If, at some point, you decide to make this new home your primary residence, check out Ample Moving for all your moving needs.
Buy a second home in Newark, NJ to invest
Maybe you have been saving for years and you are not sure what to do with that money and make it grow. Maybe you have some inheritance, or simply you might just take a bank loan. Regardless of your reasons, investing in real estate is always a good idea. By renting out the new real estate you purchased, you can earn your money back slowly.
On the plus side, your new home can also be your DIY project. You can finally use all the ideas you have seen and maybe saved them on your phone. You can watch tutorials and try to do it on your own, or with someone’s help. You can include your friends and family and spend weekends remodeling and redecorating your new place. This process can be a lot of fun and you will definitely feel proud after each small project is completed.
You want to upgrade
What if you are living in an apartment and you want to upgrade to a house? Or if you live in a house already but you want to move into a bigger house? Maybe your family is growing, or you are outgrowing your current place. At the same time, if you don’t want to sell your current place and you’d rather rent it out, definitely consider buying a second home in Newark, NJ.
As we have mentioned before, real estate prices in Newark, NJ are more affordable than in NYC. You can get a bigger place in Newark and still be up on the deal. This means more space for you at a cheaper price point.
If you have always wanted a garden and a lawn, and having your own driveway and a garage, here is an opportunity for you to have it all. You can buy a house in Newark and keep your apartment, too. This way you can pick and choose where you stay, or you can switch between the two.
Since the Covid pandemic started, we have been spending more time inside our residences. This made many people realize they would be happier if they had more space available. If you are one of them, consider buying a second home in Newark, NJ.
Buy a second home in Newark for a family member
Last, but not least, you can buy a property in Newark for a family member. Maybe you want to have your parents or your in-laws closer to you, but you don’t have enough space in your home. Maybe you have a college student that needs a place close to their school. All of these reasons would be valid to buy a new home in Newark. Instead of paying their rent every month, you would be the owner. Once they don’t require this property you can rent it out, or move in yourself.
We gave you the top 5 reasons to buy a second home in Newark, NJ, however, this list can be continued. You can have your own reasons that don’t fall under these categories. Whichever reasons you have, moving to New Jersey is always a good idea and you will not regret it. Follow your instincts, do your research, and you will make the right choice.