Buying a New Jersey Home has several unique advantages when compared with renting. Aside from being, to decorate as you choose, receive additional tax benefits, enjoy stability in your housing payments, and increase your ability to make future investments, it just feels good to own your own home!
A survey conducted last April by the PEW Research Center, a non-profit, non-partisan organization considered a “fact tank” on social & demographic trends in America, determined that the majority of adult Americans (81%) still believe “that buying a home is the best long-term investment a person can make.” It is interesting to note that while the same study showed that 47% of those surveyed felt that current economic factors have resulted in a decrease in their current home value, those same home owners felt that their home investment was a safe one. Living in New Jersey and being on a train line or a bus line with direct Manhattan commuting options has retained most of the value for northern New Jersey Homes. The truth is that Northern New Jersey is in a unique position to benefit from close proximity to New York City. Housing in the rest of the country might have crashed but Northern New Jersey has simply hit a bump in the road. Key towns within 30 minutes to New york city are still selling with multiple bids. Maplewood , Montclair, Glen Ridge , Northern New Jersey real estate in general can be effected by the current economic climate but long term you can’t go wrong investing in our state.
Even renters seem to agree with the idea of investing in a home, with 81% wishing to buy a home at some point, even if individual circumstances prevent it currently. In fact, when asked to rate long-term financial goals, home ownership and “being able to live comfortably in retirement” were rated the highest by 80% of those surveyed. Survey participants seemed to understand that owning a home provides more than an avenue for generating savings – it also is a place to live and provides an element of physical and emotional stability unlike other investment options.
Further pursuing this question, the survey compared investments – trying to determine which held fast in the long run – the stock market or the housing market. The answer was variable, depending on the year of investment, however, and unable to be determined overall. One item not considered in the survey is that owning a home provides income tax benefits that are not likely to be found in other investments, which could affect the dividend bottom line and how you choose to invest. Click here to view the survey in its entirety.