As a New Yorker, there is not much you can not find in your beautiful city. From the best restaurants to the best entertainment options, everything is there. But you might want to have a quieter place where you can relax alone or with your family. Bergen County in New Jersey might come to mind as a calmer place than New York City. And you are thinking of buying another house there. We at NYC Moving will help you decide with our list of pros and cons of buying a second house in Bergen County, NJ. Let’s begin!
Pros of buying a second house in Bergen County
We will first talk about the advantages of Bergen County. You will see, there are plenty of benefits of having a second house there, you will not even read the negatives. By the end, you will want to move in fast, and for that, professionals are at your disposal, local Bergen County movers. They will handle everything and move you in quickly because they know the area. Let’s begin with the positives.
A getaway place
While New York City has everything, it has one flaw – the noise. The never-ending clamor of cars, trucks, ambulances will get to everyone’s nerves, and you are no exception. But if you were to get a home in Bergen County, you can say goodbye to the noise. The most populated place in Bergen County is Hackensack, and it only has approximately 40000 inhabitants. So if you were to buy a second home in the most populated city in Bergen County, you would not experience a fraction of the racket you get in New York City. You will have an option whenever NYC gets to you to get away and relax in your home in Bergen County, which is only 40-minutes away by car. Soon you will be renting your apartment in NYC or house to move to Bergen County.
Consider buying a second house in Bergen County to make money
The second positive of another home in Bergen County is the possibility for profit. You can make money in two ways by buying a second home.
- Buying a second house in Bergen County is a good idea because you can get money from rent. Now that you have two places, one in New York City and one in Bergen County, you can decide which one to rent. The obvious answer is to rent out your home in NYC. You will get more rent money and lower your expenses since the cost of living in Bergen County is much lower. If you decide to rent out your NYC place, gibraltarvanlines.com can help you move to Bergen County. They will pack your stuff up and get you to Bergen County fast and without any hiccups on the road. But if you do not want to leave NYC, rent the home in Bergen County whenever you are not using it.
- The second way to make money is to sell one of your homes. Selling one of your homes is not a quick way to earn money, but it can bring in a ton of profit. Your best option is to sit on both houses and sell the one in New York City when you get enough of the city. There won’t be much of a struggle with selling your property in New York City. You will quickly sell your apartment or house in NYC.
These are the way to earn money if you have two houses, decide which one suits you best.
Cons of buying a second house in Bergen County
Now that you know some of the benefits of having another home in Bergen County. Let’s see the negatives.
The hassle of buying a second house in Bergen County
The number one negative of having another home is the process of acquiring it. Let’s see what you will have to go through to finalize everything.
- First, you will need to establish a budget. And to have a budget, you need to get pre-approved for a mortgage. Getting a mortgage means you will need to go lender “shopping” to find the best one for you. When you finally find one, you need to give them the appropriate documentation.
- Second, you need to find a real estate agent. Finding a realtor is not a small task. You will need to look them up on the internet and set up an interview.
- Third, getting a real estate attorney. The same process as finding a realtor. And you need a real estate lawyer because they are there to help you deal with the contracts.
- Fourth, wait for the real estate agent to find you the perfect home.
- Fifth, get a home inspector to check if the house is in good condition before signing.
- Finally, you have to move into your Bergen County home. And the process can become more difficult if you have unique items like pianos and huge furniture. But if that is the case, there are available solutions to your needs, specialized services that deal with that kind of problems. Trained professionals can move your piano or robust furniture safely because they have experience with that kind of items.
The second downside of owning another home in Bergen County is the cost of maintenance. While if you are not using it, you do not have to pay utilities. But as time goes, things will get loose, the roof will leak, and you will have to repair it. You will also have to go and check on it to avoid breaking ins and robbing. But you can prevent any crimes by renting your home.
The benefits and negatives of buying a second house in Bergen County are many. The only thing you have to ask yourself is if you are ready to take on this responsibility. Good luck!