There are no restrictions on residents or non-residents purchasing properties in the state. Sellers pay a 1 per cent Realty Transfer Fee on all home sales, something the buyer may only also be required to pay on home sales of $1 million or more. Resident sellers may also be eligible to receive property tax relief benefits. Buyers are also likely to need an attorney.
Living in New Jersey
This popular state offers modern, cosmopolitan urban living within reach of picturesque countryside and beaches. A major attraction, which can affect New Jersey home prices, is its enviable location, allowing residents to live within commuting distance of New York City thanks to excellent road, rail and ferry connections.
Education
The state spends nearly 5% of its total tax dollars on education, making its public schools among the nation’s best supported. Princeton University, an Ivy League institution, is the state’s most prestigious college and attracts leading students from around the globe. Other popular institutions include the College of New Jersey, in Ewing, and Monmouth University, in West Long Branch.
Activities
The Jersey Shore, with its preserved Victorian towns, such as Cape May, and vibrant food scene, offers a plethora of exciting day trips. Shopping lovers can visit The Mills at Jersey Gardens, which offers high-end boutiques and budget offerings among its 200 stores, while Atlantic City’s boardwalk and amusements make an excellent family excursion. There are plenty of opportunities kayak, fish, swim or camp in the likes of Highpoint State Park or Delaware Water Gap, and sports enthusiasts can watch the NFL’s New York Jets and New York Giants, which both play at Meadowlands in New Jersey.
Culture
The culture-rich state offers the chance to explore everything from modern museums to historic battle sites. In Elizabeth, the state’s oldest and largest theatre, the Ritz Theatre, stages major productions, while the likes of Battlefield State Park, where George Washington defeated the British in 1777, provide a glimpse into the state’s historical significance. The Thomas Edison National Historical Park also houses the renowned inventor’s home and laboratory, which provides an excellent family outing.
Accessibility
Road: The state is well-served by several major arterial roads including I-95 (north-south) and I-78 (east-west).
Rail: New Jersey has an extensive rail system, with Newark Broad Street, Newark Penn and Secaucus being major hubs for routes around the state and into New York City. Elsewhere, the Newark Light Railway runs from Penn station while the Hudson-Bergen Light Rail system provide easy access to Hudson County, Hoboken and Jersey City.
Air: Both Newark Liberty International Airport and Atlantic City International Airport provide overseas and internal flights.