Rent or buy?

It’s the eternal question, and in today’s variable housing market it has increased urgency. If there’s a buyer’s market in your area, you may be tempted to make an investment now. But ask yourself these questions before signing on the dotted line.

Why buy? Buying makes sense if you want to expand your family. But if you’re single or recently married, think twice; the market has been variable for a decade, and you’ll lose a lot of money to equity/maintenance costs and property taxes.

What are the numbers? That fixer-upper might seem like a good deal—but before you buy, talk to a contractor to estimate realistic repair costs. Don’t just factor in current property taxes, either; look at historical trends in the area, and know that if taxes have been stable they’re probably due to rise.

What might happen? That backyard tree is lovely. What if a branch breaks off and falls through the roof?

OK, that’s a dramatic example. But maintenance tasks pile up. From mold and mildew to broken faucets and boilers, it’s all on the homeowner—and letting it go ‘til next year isn’t just uncomfortable, it hurts the value of your home!

If you’re single, childless, trying to achieve a firm financial footing, or simply always on the go, renting an apartment in NJ makes sense. Property taxes and maintenance are covered. You don’t have spend Saturdays at Home Depot shopping for a new toilet. And depending on where you rent, your home may come with perks like swimming pools, gym access, bike rental, storage space, and much more.

BestRentNJ is your place to find apartments for rent in NJ. From the Shore to the Palisades, we cover New Jersey to find the apartments for rent you want and the information you need to put down roots.

Got questions about NJ apartments for rent? Ask us!