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Should you buy or rent an apartment in NJ

Jersey city cityscape

New Jersey is a state on the east coast of the United States of America. Moving to New Jersey is a good idea if you want to be close to the economic center of the country. Its proximity to New York City is only one of the benefits of living here. In this article, we will talk about the characteristics of the state of New Jersey, and whether moving there is a viable option and also how to calculate moving costs. Another thing we will talk about is whether you should buy or rent an apartment in NJ. So, without any further ado, let’s dive in!

New Jersey neighborhood

Geography of New Jersey

On the northern and northeastern border of New Jersey, we will find New York. On the east is the Atlantic ocean, while on the west it is Pennsylvania with Delaware on the southeast. The state is divided into three geographic regions: NJ, NY, PA CT, Central Jersey, and South Jersey. There are people who do not like the division into three regions, deeming the central region to be non-existent, and that the state is comprised only of NJ, NY, PA CT, and South Jersey. However, others believe that it is a specific geographical and cultural area, and therefore a region in its own right.

Within those three regions, there are five distinct areas based on population and geographical characteristics. The northeastern part of New Jersey is the closest to Manhattan. This is why many people choose to live here and commute to Manhattan daily. However, this is the part of New Jersey where the rent prices and house prices are the highest. On the northwestern part, we have a more natural and mountainous part of the region.  On the east, there is the famous Jersey shore, with its own unique cultural identity. It spreads from Central Jersey into Southern Jersey with a view on the Atlantic Ocean. The other two areas are more like a countryside even though there are cities there as well.

The climate of New Jersey

The state is divided into two climatic zones. The only part of New Jersey that has a humid continental climate is the Northwestern region. The other parts of New Jersey belong to the humid subtropical climate which is characteristic to the whole east coast. The summers are usually hot and humid with an average temperature of 28 to 31 degrees C. However, an average of about 25 days of summer is known for even higher temperatures reaching up to 32 degrees C. Winters are typically cold with the average temperature ranging from 1 degree C to -9 degrees C. It is even worse in the northwestern part of the state with its humid continental climate where the temperature sometimes reaches down to -18 degrees C.

The springs and falls have a wide range of temperatures but are usually mild and more humid than the extreme seasons. This should be taken into account if you want to buy or rent an apartment in NJ.

If you are coming from a hotter state like Florida, it may be hard to adjust to the temperature difference. However, if you are coming from a colder state such as Minnesota, this will come as a big relief. Consider this carefully before deciding to move to New Jersey!

Should you buy or rent an apartment in NJ?

Let’s get down to the main question now, should you buy or rent an apartment in NJ? There are a lot of neighborhoods in New Jersey to choose from. We will go through some of the characteristics that may impact your life on a financial level and give you ample resource to make your final decision.

New Jersey railroad station

Renting an apartment in NJ

So, where does New Jersey stand when it comes to renting an apartment. The average price of an apartment in NJ is $1,396 which is 2% higher than the previous year. This price is somewhat higher than the national average, but that is the price of being close to the economic center of the United States of America. The thing about renting is the illusion that you are paying less. When you see the price you have to pay each month it does not seem that much. But after a while, you will start feeling how much are you spending on your rented apartment. So consider this thought before you decide to rent an apartment in NJ.

Buying an apartment in NJ

This is a much better option according to many experts. And even if you just think about it, is it not better to have your own place, without any landlord or an impending sense of having to pay up every month. Another bill that needs to be paid. It really is a relieving thought. So if you have decided to buy an apartment in New Jersey instead of renting one, the average price is $327,500. Buying a house can also create your legacy and give your offspring a secure place to live in one of the top cities in NJ for families. This is very important in today’s time where traditional values are at an all-time low. Even if you do not care about your legacy, buying a home can make you feel more secure and at home.

Whatever you decide, whether to buy or rent an apartment in NJ, make sure it is the right option for you.

A good university is a good reason to buy or rent an apartment in NJ!

Something more about the state of New Jersey

New Jersey has developed a lot from its inception in the 17th century by the Dutch. It was culturally very diverse from the beginning and it is now at an all-time high, projected to rise even further down the stretch. The rich cultural diversity also gave rise to the diversity of cuisine. There are a lot of New Jersey specialties including the Taylor Ham, cheesesteaks, scrapple, and the development of the submarine sandwich. Another interesting fact is that the music icon, Frank Sinatra, was born and started his rise to fame in Jersey as a part of the Hoboken Four. This information is just cherry on top that will positively compliment your decision to buy or rent an apartment in NJ. 

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