Archive for February, 2017

Does a New Jersey Apartment With Fitness Center Fit Into Your Budget?

apartments-with-fitness-center-in-new-jerseyOne of the most important steps to finding and renting a new apartment (or buying a house, for that matter) is determining how much you can afford to pay. This may seem, to many of you, like common sense. We have all been in situations where we want so badly to move that we forget to stop and be rational.

Recently, while looking for a new place to live, I came across this video from a guy that says his name is Joe Shmoe. His short 2-minute video reminded me of how important it is to create your budget before you go looking for apartments, whether it be out and about in the city or from the comfort of your couch, searching online. As a rule of thumb, your net monthly income should be 2.5 times higher than your monthly rent. In other words, if your rent is $2800 a month, your net income should be $7000. I know that is not the ideal situation for everyone, but it is a good reference point.

Once you have established your price point, then you can go searching for places that you like that fit into your budget. I would recommend doing an online search using Google or Bing, and creating a list of 5-10 places where you would like to live. Remember, you are searching for a place to call home, and hopefully that means for an extended period of time.

After you have your list, then you can go check out the neighborhood of each address. It it recommended to make 3 trips to each location. One in the daytime, Monday through Friday, so you can observe the daily routine. The second trip should be a daytime visit on Saturday. That is when everyone would be home, and you can get a feel of how people in the community hang out, and interact. The third trip should be on a Saturday night between 10pm and 11pm. You are making this trip to make sure the community is a safe place for you and your family.

If you are satisfied with the neighborhood after your three visits, go ahead and schedule an appointment to see the available apartments in the building. As “Joe Shmoe” said in his video, don’t use the word ‘budget’ when talking to the rental agent. They are usually trained to upsell the clients, and get you to spend more money than you have available.

In my recent search, I found a listing for a brand new apartment in New Jersey with a fitness center, swimming pool, movie screening room, and a whole lot more. Apartmentguide.com indicates that a studio apartment at The One Jersey City starts at $2895 per month. Just a little out of my price range.

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Luxury Rentals in Downtown Jersey City

33-park-ave-jersey-city-development-towerHave you heard the terms ultra luxury and uber luxury?  Do you have any idea what the difference is?  They both sound like degrees of luxury that I cannot afford. Uber as defined by internetslang.com means ultimate or best. So, uber luxury would then be defined as the ultimate or best in luxury.  Ultra luxury is defined by yourdictionary.com as providing an extremely high degree of luxury.

In any case, recent developments in downtown Jersey City have been described using these two adjectives.  As New Yorkers exit the city, looking for newer and better places to live, they just might find what they are looking for on the West side of the Hudson River, more specifically in rental units in Jersey City.

Downtown Jersey City is considered to be the area Southeast of Monmouth St and 9th St. It’s a little difficult to give you the exact boundaries because the area is shaped a little like the state of Louisiana.  Basically, the area consists of Hamilton Park, Historic Downtown, and Paulus Hook.

In this area alone, there are or have been at least a half dozen new developments in the last few years. In 2016, it was announced that Strategic Capital would be moving forward with developing an ultra-luxury condo project called Park and Shore at 75 Park Lane in Jersey City.  Recently, there has been mention of a new multifamily mixed use building at 110 First Street in Jersey City, called TheOne, that is supposed to be ready for move in around the middle of May or beginning of June.

Advertised as New Jersey uber luxury rentals, VantageJC, should have the first phase of their complex ready for occupancy in the spring. Phase one will be a 44 story tower with about 450 rental units, an onsite garage, and a 5 story podium base that will eventually connect to the phase two tower.

Most of these New Jersey ultra luxury rentals that are being developed in Jersey City will come with Manhattan style amenities, and have views of the Hudson River, lower Manhattan, and Liberty State Park.

 

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