NYC Suburb?

[Musetta]

I am considering buying an apartment in New Jersey - the town next to the one I live in actually I was wondering if anyone had any opinions on it's viability as a vacation rental (otherwise, I will probably rent it out long-term)?

It is a beautiful, quiet, very quaint and typically "All-American" looking town... upscale (too expensive for me to own my primary residence there)...walk to the train (25 min. direct to the heart of NYC on a very frequent scheduale) and lots of little shops, restaurants, movie theater, etc. It is also only a 10 minute car/taxi from Newark airport.

That said, would anyone want to vacation in NYC but not stay IN the City? It certainly would be much cheaper than staying in Manhattan, but is part of going to NYC staying in the hustle and bustle?

Thanks for any opinions! (since I live here, I have a hard time thinking like a tourist!)

[cromercrabholiday]

New Joisey has a poor reputation in UK because of Newark. Having spent time on a number of visits in Montvale and Murray Hill years back where my company's US head office was, I know better (especially when the dogwoods were in bloom). I was at the doctor's this week and read a National Geographic that claimed that NJ was underpopulated and spread the word that it was called the Garden State for a good reason.

I think as a dormitory for New York, you will have a difficult argument. If you sell it for itself and throw in NY being nearby as a bonus you may be on a better bet.

John

[A-two]

I'm biased in favor of my part of New York (Eastern Long Island) over any part of New Jersey, but there's no doubt that NJ beach towns are viewed as a vacation destination and therefore Musetta's thinking is sound.

Also, there are international visitors who want to see Manhattan, but would rather stay outside, or seek a vacation that combines the excitement of the bright City lights of NYC with a beach vacation, a week here, a week there. We sell something like 30% to people seeking a combination of the two, some of whom have also looked at New Jersey as alternative venue.

Also, I would not call NJ a dormitory for NYC when apartments sell there for $2million. There are other parts of NJ inhabited by Executive Producers of Hollywood Movies with private planes. NJ is a big State and it's wrong to judge any place by it's airport.

Musetta, I don't know which town you're looking to buy in, and obviously that's going to make a big difference, so pick very carefully to make sure it's one with year round attractions. However, I don't see any reason why you cannot succeed even if you can't find many others offering similar accomodation in your immediate area. We were one of the first here for weekly vacation rentals and others are now jumping on board in droves, but we timed it to coincide with a blossoming wine industry and that has definitely helped us along the way.

I would start by checking out the NJ visitor and convention bureau website, to see whether your town is being promoted at taxpayer expense as a tourist destination. If it is, you're home and dry. Then I would check the vacation rental websites for properties that have fully booked availability calendars for this summer - VRBO.com and Cyberrentals.com being the two 900lb gorillas.

As I said, I'm seriously biased towards Long Island as the hottest destination only 2 hours from Manhattan, but I also understand there are some people who think we are at the other end of the earth and would rather go to NJ for a quick break because it's closer.

Generally, I see the trend here in the US shifting towards vacation destinations that are closer to home. As well, the weakened US$ also means more visitors from abroad who are finding the US affordable for the first time.

Finally, I think that wherever you are in the world, if you can offer a peaceful haven within an hour or so of any major city, you're onto a winner, but it has to be a world apart in ambience and amenities, or people do not need to move from where they are.

Good Luck!

[Musetta]

Thank you for the varied opinions !

If we decide to buy it, I know I can rent it out long-term to a commuter for a profit, so it is not that risky anyway

I certainly know what reputation NJ has...I lived for many years in the city and never thought I would end up out here...until I had a family and checked out Westchester and thought it was a real dump for the price that is why I was concerned that, as lovely as some parts are, it may not work out as a vacation property. We have some deciding to do Thanks!