One of my favorite things about New Jersey is that our neighborhoods all have character and unique personalities. As a real estate investor, I spend a lot of time driving around my home state looking for hidden gems tucked away in the small, unnoticed NJ neighborhoods that other investors may overlook. That’s how I came across the beautiful Atlantic Highlands neighborhood in northeastern New Jersey. I think there’s a lot of opportunity in the Atlantic Highlands real estate market for motivated investors, but you should do your homework first before purchasing a property.
An Overview of the Atlantic Highlands Real Estate Market
Atlantic Highlands is a small coastal neighborhood with a distinctly nautical feel. Much of the architecture is pre-World War II, adding historic charm to this cozy little community. Despite having a small population, Atlantic Highlands boasts a thriving art scene as well. These factors combine to give the Atlantic Highlands neighborhood a unique character that attracts highly educated young adults, families with children, and retirees all at the same time.
Since Atlantic Highlands is so small, there is a relatively short supply of properties on the market at any given time. Most of the residences here are owner-occupied, single-family, three- or four-bedroom homes. The median sale price of a home here is over $700K, which is upscale even by New Jersey standards. However, there are still deals to be found on distressed and smaller properties.
That’s partially because Atlantic Highlands has a large stock of historic homes built before 1939. These can be great opportunities for real estate investors, if you can find properties that have been neglected or need modern updates. These older, distressed NJ homes can be purchased for cheap, then you can restore and renovate them and sell them as high-end historic real estate.
There is also plenty of waterfront real estate in Atlantic Highlands. Waterfront homes often fetch a higher price than land-locked properties. Retirees especially love homes on the water, as evidenced by the large population of older adults in Atlantic Highlands. Plus, waterfront properties can be used as vacation rentals during the summer months.
Atlantic Highlands, NJ is currently a buyer’s market, because there’s a greater supply of homes than there is a demand to purchase them. In general, that means it’s a good time to buy an investment property, but it might not be a great time to sell it. On average, houses also spend longer on the market in Atlantic Highlands than in the rest of the country. However, home values have been appreciating at a higher rate here than the state and national average.
Overall, that means you may hold onto your Atlantic Highlands investment property for a little longer than you want to. But, if the market continues its current trajectory, the value of your property should only increase over time.
Tips for Investing in the Atlantic Highlands Real Estate Market
Investing in a high-end neighborhood can be risky because you’re likely to spend more money to purchase a property (even if it’s in a distressed condition) than you would in a less expensive market. However, the Atlantic Highlands real estate market contains many hidden gems, including cheap historic properties that you can restore to their former charm. Is the risk worth the reward? Unfortunately, that depends on luck and your skill as an investor. However, there are steps you can take to increase your chances of a successful real estate investment.
For example, you could join HomeVestors®, the nation’s largest network of independently owned and operated real estate investment franchises. HomeVestors® sets you up for success by giving you access to some of the best real estate training, tools, and marketing in the industry. Every HomeVestors® franchisee gets to work with a Development Agent, an experienced real estate mentor who provides one-on-one guidance and advice on investing in your local market. Finding deals in the Atlantic Highlands real estate market will also get easier with the help of the “We Buy Ugly Houses®” national marketing campaign.
To find out more about how HomeVestors® can help you invest in the Atlantic Highlands real estate market, contact us today!
Each franchise office is independently owned and operated.