In 2016, home flipping reached a 10-year high, with both individuals and institutions becoming actively involved in this residential redevelopment game, hoping to generate lucrative returns.
New Jersey has long been a hot market for flipping. The median home prices in the state rose a healthy 4.5% year-on-year to a staggering $307,500 in September 2017. Predictions suggest that median home prices will be on an upswing in the near future.
Why New Jersey is Exciting for Homeowners
The reason for this trend is that New Jersey offers plenty of perks for people looking to buy a home. Jersey is the third-wealthiest state in the US and the 11th most populous. It is home to the offices of several Fortune 500 companies. The state also benefits from its proximity to New York City, where the connecting road between these regions is considered one of the safest roads in the US.
New Jersey is among the most ethnically and religiously diverse states in America. It also has a large population of younger individuals, with more than 60% of the population within the age-group of 18 to 65 years.
New Jersey is an affluent state, with a multifaceted economy. It has a number of reputed schools and universities. Additionally, the state is visited by a plethora of tourists every year, both domestic and international. No wonder that the Newark Liberty International Airport is among the busiest airports in the country!
Check out investable properties in New Jersey. Contact us to know how fixing and flipping properties in this wonderful state can benefit you.