There are still great deals to be had in Hoboken real estate. In fact, it is still a buyer’s market and investment properties are hot. If you’re looking for an investment property, know the market and be familiar with what each area has to offer.
Investment properties should be in good basic shape, need little in repairs and have good bones. To rent a home, you need to make it sound, clean and presentable, make sure all the appliances work and don’t worry
that it doesn’t have the most modern flooring or appliances. Keep the walls neutral and don’t spend tons of money on updates, renters can be hard on a property and most rentals are pretty basic.
If you’re buying your next home in Hoboken, you’ll want to have a clear idea of what you’re looking for and what the things on your wish list will cost. You might have an image of the perfect single family home you want, maybe a gorgeous historic brownstone, but after a little research you may find out you really want a condo. Just remember to see the potential in every property.
The old adage is to look for the worst house in the best neighborhood and that still holds true, however, the “best neighborhood” is relative to your own opinions. Start with the area you like, then decide what kinds of homes you like and what your most basic needs are, such as the number of floors, how many bedrooms and bathrooms, laundry facilities, storage and parking space, as well as the size of the rooms and the best kind of space for your lifestyle. You may love old homes, but prefer or need an open floor plan which could mean renovation. Now look at the kind of budget you have for improvements, appliance upgrades and decorating, and don’t forget to include that in the overall cost right along with moving expenses. Sometimes the kind of appliances and furniture we want is not suited to the house we buy.
Often without realizing it, we fall for the advertising buzz about homes and what goes inside them and end up with unrealistic expectations. The huge side by side refrigerator might look great in the home pictured in the magazine, but it would swallow the kitchen in an older home. Do your research and go shop for the things you want, price, measure and take pictures.
Apartments and condos have the most in the way of amenities of course, such as swimming pools, private terraces, laundry facilities and more luxurious services as the price will indicate, plus many allow pets for an extra fee.
If you’re selling a home in Hoboken you need to know what kind of amenities people are looking for in a property in your area in order to show your home in the best light, entice your buyer and get the best price. You’ll need to look at comparable homes to know how to price your home. Make arrangements to tour homes in your area and take some pictures, save the information and see what you’re up against. You may even want to hire a home stager to make your home shine a little more before you show it. Whatever your real estate plans, I can help provide information and resources and give you the professional advice you need.
About Eddie: Eddie Perez is a resident of Hoboken and works as a New Jersey licensed Broker – REALTOR. His goal is to educate both buyers and sellers, so that they can make the most of their bottom line while saving time and having fun during the process of buying or selling condominiums and brownstones in Hoboken and the surrounding metro communities including Jersey City and Weehawken, New Jersey. He has personally sold over 135 homes and is among the top producing agents in Hudson County. You can email questions to eddie@InvestHoboken.com. To schedule an appointment to meet with Eddie, call him directly at 201.344.2886.