Should I Rent or Buy Condos on Jersey Shore?

With the summer coming to a close, many people are already missing their days spent at the beach. If you live hours away from the sun and sand, daydreaming about a beach day might be a regular occurrence. If that’s the case, why not make a change? Choosing to move to the beach, especially the New Jersey shore, can give you the lifestyle that you imagine for yourself. There are many beautiful towns that line the coast, with opportunities for employment and wonderful communities to engage your family. Some of the best opportunities for living near the beach are condos on the Jersey shore. There are many condominium complexes with stellar amenities that could be your new home. The only question left is whether it is better to buy a condo or rent one. The short answer? Buying a condominium has so many long-term benefits that could change your life.

Renting vs. Buying: Which is Better?

The decision to rent vs. buy depends on a lot of different factors. The most important of which is your own unique professional and financial situation. According to the Mortgage Reports, the following four criteria will help you decide which option best suits your lifestyle.

Generally, buying is better than renting when you meet four criteria:

  1. You have a stable income and employment
  2. You can afford the down payment and closing costs
  3. You want to stay in the same location for at least three years
  4. You aren’t expecting a major life event that would require you to move, upsize, or downsize your home. These events include marriage, divorce, having a child, or job relocation

If these criteria sound like you, consider buying a condo on the Jersey shore. Additionally, when you are looking at condos on the Jersey shore, you should confirm that you are making a top-notch investment. Before finalizing your decision, consider the important variables. Ask about the tax savings, the opportunities the location presents, and whether you can rent the condo out to others. You should also consider if the location offers enough amenities, such as restaurants, shopping centers, beaches, and more, to make it worth your while. 

Buying at the Jersey Shore

The Jersey Shore is home to many flourishing communities. The people are kind, the businesses are successful, and not to mention, the unbeatable coastal views. A beloved shore town is Long Branch, New Jersey. This bustling beachside town is perfect for those people whose top priority is a beach lifestyle. There is easy boardwalk and beachfront access year-round. The days in this town are made for relaxing on the beach, taking in the views from the shore, and engaging in beachside and waterfront activities. Whether you are looking to spend days tanning, surfing, building sandcastles, or simply breathing in the fresh air, Long Branch, New Jersey is the right place.

From an investment standpoint, the Jersey Shore is a great choice. With many people flocking to the shore for a change of lifestyle or simply a better view, investing in property here can’t miss. In fact, beach home sales in this area are surging. The amount of homes sold down the shore has increased by 25% compared to the same period last year. In 2021, the time is right to buy.  While prices may be rising, the interest rates are low and the inventory down the shore is even lower. If you want to live near the water and can find condos on the Jersey shore that you like, we suggest you make your move soon.

The Lofts Pier Village: Your New Home

Stop daydreaming about your new life at the beach and make it a reality. You can have an oceanfront property with endless amenities and the opportunity to watch the sunrise over the water every day. At The Lofts Pier Village, the Jersey Shore can be yours. These condos on the Jersey shore are made for people looking for a little luxury near the sea. Your ideal beach lifestyle can come together in this unforgettable setting in Long Branch, New Jersey. Our “City by the Sea” is home to a community unlike anywhere else in the state. These elegant condominiums offer every amenity you could imagine, including an outdoor lap pool, concierge services, and 24-hour security . These amenities, in addition to the variety of fine dining and shopping options, modern residences, and the serenity of the ocean, creates the perfect balance. Learn more about contemporary carefree living on the waterfront, every season of the year.

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