r/jerseycity•
magicsun1126

Is this time to buy?

I've lived in JC for about a year near Grove St. area and like it so far, to the point that I wonder if it is worth buying a place here. There are a lot of new buildings / ones that are under construction. I've been looking at 1-bed room luxury apartments (e.g., 99 Hudson, 10 Provost, 151 Bay..) but I think the prices are still bit high. They were all around $800k+ and I feel like the prices haven't come down despite overall macro headwinds and high-interest rates.

Some pros and cons of JC:

  • Pros
    • So much cleaner vs. NYC
    • I enjoy not paying NYC city taxes
    • New buildings and more coming
    • Wholefoods (really hope they open soon)
    • I also have a car that comes in super handy sometimes
  • Cons
    • Limited restaurants and lower quality overall
    • Not a lot of decent "every day" Asian restaurants and groceries
    • Not sure about how much prices will appreciate?
    • Heard higher property taxes

What are your thoughts about buying right now?

Posted Jun 1, 2023, 2:31 AM UTC

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