Having a vacation house in New Jersey located right on the beach is a living treasure. Metaphorically and also literally. There are so many perks of having one, even though you live and work in NYC. It is only a few hundred miles away, and the long-term benefits are limitless. Planning to rent it and make a business out of it or just transforming it into an oasis of peace for yourself, it`s one of the best investments that you can make out there. If you plan to make it a cultural sanctuary that you can bow to on your free weekend, get ready to pack your books for a move and make sure you take the best titles from your library at home. We have made a list of the main 4 upsides of having a vacation house in New Jersey to help you out.
You can’t go wrong with investments in real estate
Real estate is the best type of investment, as it will be always in high demand. The majority of successful entrepreneurs that I know are doing it and keep on recommending it as a business plan. Of course, they are loaded and they can buy as many as they wish to. But they also started with only one house in the beginning, so just put that first brick on your business foundation.
Once the decision upon the location in Jersey is taken and you start to wonder about packing services, experts can assist with this task and help you move out. Especially if you need to relocate some of your extra stuff from NYC to ensure minimum comfort in your new vacation house in New Jersey.
Extra cash directly into your pocket
First of all, because prices are very spicy in the rental industry during the high season, a vacation house in New Jersey is practically paying by itself. A house on the beach is an excellent source of income. So if you qualify for any type of mortgage, better take a loan and invest it for the future. You won`t regret it.
Note that big investors also started with only one house in the beginning, so just put that first brick on your business foundation as soon as possible. You can consider starting a career in New Jersey once you have at least that one house you need to get started. Why not make a business out of it long-term and leave your office routine in The Big Apple?!
It’s a potential future home
You never know how circumstances might dictate your course of life at a certain point. Due to getting a job or maybe considering a long break from the big city life once you retire, one day you might consider moving interstate from New York City directly into your new vacation home in Jersey. Whatever the reason is, you should also look for a professional moving company if you decide to stay here permanently. Ensuring a safe and stress-free relocation doubles the fun afterwards.
You’ll be able to deduct some of the business-related expenses
Tax deductions are a real thing. Restocking and housekeeping are the two of the most claimed types of deductions. Out of these, the direct beneficiary is your own business. Practically, you are partially exempted from paying all those sometimes seemingly unfair taxes to the IRS. You’ll be able to redirect some of that to the profit of your own business.
Sometimes working smarter is countless times more important than working harder. So hire a tax professional in your region to get some piece of qualified advice in the field.
It’s time to decide!
Remember that, in the end, owning a vacation house in New Jersey is a long-term investment that you can benefit from at any point. It’s the equivalent of money in the bank in the real estate field. Think about it. Why spending your vacation in someone else’s home, when you could just as easily enjoy it in your own?