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

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

Since the pandemic hit, thousands of Manhattan residents have taken advantage of their work-from-home status and left the metro to settle in suburbs or smaller towns where there is more space and a less hectic lifestyle. If you’re one of those people, you’ve likely considered the North-Central New Jersey area for your new home. If you haven’t, now is the time to look into the possibility. Here is what you need to know about the region, the pros and cons of relocating there, and how to get the best deal when buying Summit homes.

What is Considered North-Central New Jersey?

North-Central New Jersey is the area located between New York City and the largest city in the state, Newark. Some popular towns in North-Central New Jersey include Montclair (just 20 miles from New York City and ten from Newark), Westfield (45 minutes from NYC and 27 minutes from Newark), and Summit (41 minutes from New York City and 24 minutes from Newark.) Those who relocate to these areas can still easily commute to either Newark or Manhattan for work but enjoy the more laid-back lifestyle of small-town living.

What to Consider Before Moving from New York to New Jersey

Are you considering moving out of New York and looking at North New Jersey homes for sale? You’re in good company, as more and more people are discovering the joys of living in North-Central New Jersey. Of course, just like any relocation, there are both pros and cons of moving from NYC to Jersey. Here are some of the most important:

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

If the pros outweigh the cons for you and you’ve made the decision to buy North New Jersey real estate and relocate, here are some tips to help you out:

  • 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.

Moving from New York to New Jersey is a big decision, but one that offers a multitude of benefits for the right buyer. If you’ve decided relocating to Summit or another North-Central New Jersey town is right for you, reach out to an experienced North New Jersey agent like those on the McGurl team to make your move a successful one.

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The McGurl Team at Prominent Properties Sotheby's International Realty provides the advantage buyers and sellers need in a competitive market. Contact us today to start your property journey.

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