Relocation Guide: From New York to North-Central New Jersey

What is Considered North-Central New Jersey?

What to Consider Before Moving from New York to New Jersey

Pros of Moving from New York to New Jersey

• Lower cost of living. When you relocate to New Jersey, you’ll be able to afford a larger and nicer home than you would in Manhattan. The median listing home price per square foot in Manhattan is $1.4 thousand, while the median listing home price per square foot in Summit is only $423.
  
  
• Excellent schools. If you have kids in school, you’ll benefit from sending them to some of the most consistently ranked schools in the nation when you move to New Jersey. The state has been named #1 in the U.S. for best education and is also home to Princeton University for those interested in pursuing higher education.
  
  
• Amazing scenery. It might not be the first thing that comes to mind when you think of New Jersey, but the state is actually one of the most beautiful. In addition to breathtaking mountains and lush greenery, New Jersey also boasts 130 miles of sandy beaches that spread along the Atlantic Ocean.

Cons of Moving from New York to New Jersey

• It’s not Manhattan. If you love the hustle and bustle involved in living in one of the biggest cities in the world, you may want to forego looking at North New Jersey homes and stay in the Big Apple.
  
  
• The taxes. New Jersey has the highest property taxes in the United States. However, when you look at how much less, per square foot, a home costs here versus Manhattan, you’ll likely still end up spending much less on living expenses.
  
  
• The need for a vehicle. If you’re used to living in Manhattan, you probably relied on public transportation and cabs to get you where you wanted to go. If you buy Summit real estate, you’ll need to invest in a car to get you to and from work, run errands, and access entertainment.

Tips on Buying North New Jersey Homes

• Take your time. Places like Summit are currently experiencing a buyer’s market, which means there are more homes on the market than there are interested buyers. This means you can take your time and look around to find the perfect property—rather than rush a decision as you would in a competitive seller’s market.
  
  
• Get pre-approved. Though it’s not as likely in a buyer’s market that sellers of North New Jersey homes will require you to be pre-approved for a loan before you submit an offer, it’s still a good idea to do so. When you get pre-approved, you show sellers that you are serious about buying their home, and you get a better idea of how much you can afford to spend.
  
  
• Look online first. The pandemic changed the housing industry, and it’s now easier than ever to learn everything you need to know about listed houses from the comfort of your own home. When you start your house search, save time and energy by looking at online listings, taking virtual tours, and meeting with your North New Jersey real estate agent via Zoom. Once you’ve narrowed down the list of homes you’re interested in seeing in person, you can make the trip over the river.
  
  
• Negotiate. In a buyer’s market, sellers are more open to offers that are lower than asking price and that contain contingencies, such as selling your home first or having a home inspection come back clean. Before making an offer, meet with your Real Estate Agent to discuss what price you should offer and which contingencies you should include to get the best deal.
  
  
• Work with an experienced North New Jersey real estate agent. A knowledgeable agent will be able to tell you about listings that match your criteria, help you craft the perfect offer, and walk you through the closing process. He or she can also hook you up with valuable local services that will facilitate your move and help you settle into your new community.