Is It Finally Time to Buy? Here’s What NJ Renters Should Know

If you’re currently renting in New Jersey, I get it — making the leap into homeownership can feel like a huge step. With headlines swirling about high interest rates, competitive markets, and rising prices, it’s easy to talk yourself into waiting "just a little longer."

But here’s the thing: while no one can predict the perfect time to buy, the right time is different for everyone — and sometimes, the numbers might surprise you.

Whether you’ve been renting for a few years or your whole adult life, here are three key things I want you to think about:

1. Rent is at an All-Time High and It Keeps Climbing

In many NJ towns, rents have risen 20–30% since 2020. And unlike a mortgage, which stays relatively stable over time, rent increases are pretty much a guarantee. If you’re paying $2,500/month right now, that’s $30,000 a year — gone. No equity. No appreciation. Just the cost of having a roof over your head.

And while homeownership does come with expenses — taxes, insurance, maintenance — you’re also investing in your future. You're building equity. You’re locking in your housing costs (with a fixed-rate mortgage). And you're gaining an asset that can grow with you.

2. There Are Still Affordable Pockets and Creative Paths to Ownership

A lot of people I talk to assume homeownership is out of reach, especially in Bergen, Essex, or Hudson County. But I’m seeing great options in towns that are still up-and-coming, or even just slightly outside the ultra-competitive zones. Towns like Bloomfield, Clifton, Woodland Park, and parts of Union County have strong transit access and more manageable pricing.

And ownership doesn’t have to mean a single-family house right away. You could consider:

• Condos or townhomes (often with lower maintenance)

• Multi-family homes (live in one unit, rent out the other)

• Buying with a partner, family member, or trusted friend

  
  

If you’re flexible, there may be a path forward that gets you out of the rental cycle and into something that’s truly yours.

3. You Don’t Have to “Time the Market," You Just Need to Be Ready

Here’s what I see over and over again: people wait for the perfect time and miss the right time.

If buying is even on your radar in the next year or two, let’s start preparing now. That means looking at:

• What’s affordable for you (based on income, debt, credit, etc.)

• What areas fit your lifestyle and commute

• Whether waiting or moving now makes more financial sense

  
  

No pressure. No sales pitch. Just the info and guidance to help you make an informed, confident decision.

Want a personalized rent-vs-own breakdown?

Reply to this email with your current rent amount and the town you live in (or want to live in), and I’ll send you a custom comparison showing what it would cost to own in today’s market.

Even if you’re just curious — let’s crunch the numbers. You might be closer than you think.