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Building a custom home is an incredible experience with choices that reflect you, your work, and your lifestyle. But before that home is built, you must invest in the property it will sit on. In other words - you need to buy land! While building a home is an extremely customizable experience, buying land in New Jersey depends on the area buyers are interested in. An acre is an acre, but where you buy that acre makes all the difference. In this blog post, we'll discuss how much an acre of land costs, average acre cost, and how much five acres of land (or more!) really costs.
Interested in learning more about how much it costs to buy land? Follow along for more!
How Much Does An Acre of Land Cost?
Let's drill down to the foundation: what does the average acre cost in New Jersey? An acre of land in New Jersey can cost anything from $10,000 per acre to $350,000 per acre, depending on a wide variety of factors. The average cost per acre across New Jersey, however, is around $200,000, although that is only the mathematical average. The typical cost per acre is what the homeowner can afford and chooses to purchase.
In this blog post, we'll explain the region for the range and prices and just what factors influence them. We'll also dig deep so that you'll know what to expect, including the costs for an acre of land in Hunterdon, Mercer, and Somerset counties.
How Much Does an Acre of Land Cost in Hunterdon County?
In Hunterdon County, an acre of land sold en masse as a preserved farm in a rural area can be as low as $9,000, although typically $10,000 is a starting point. However, the likelihood of buying only one acre of land in a secluded part of Hunterdon County is rare. It is worthwhile for most buyers to calculate how much five acres of land is worth. A smaller parcel of land with three lots will go for $15,000 per acre. This land is more valuable because of the ability to permit and build on three separate lots. The cost to clear an acre of land in New Jersey should also factor into your land-buying calculations. Pre-cleared acres in Hunterdon County with all previous structures cleared from it can cost as much as $50,000 per acre if they are in an accessible, desirable location.
How Much Does an Acre of Land Cost in MERCER County?
The cost of an acre of land in Mercer County varies greatly based on its location within Mercer County. As the lowest point, buyers might be able to buy a single acre for $50,000 in a less desirable area which still requires the cost of clearing the land and would not necessarily be the best investment. A more realistic average acre cost for Mercer County is $150,000 per acre, although the variables depend on whether you are trying to buy one acre or land in bulk. For higher-end, more historic properties, a single acre can cost up to $850,000 in historic, highly desirable areas. How much an acre of land costs is dependent on where you would like to purchase the land.
How Much Does an Acre of Land Cost in SOMERSET County?
An acre of land in Somerset County can cost $140,000 per acre if in a prime location with access to amenities and electric and gas already installed. Larger amounts of acreage in rural, undeveloped areas can cost around $10,000 per acre. However, buyers will need to buy closer to forty acres at a time. Typically, our clients are interested in the cost of one to five acres of land. An acre of land that provides easy access to commuting to New York City can cost $250,000 per acre because of the location and ability to commute. The most highly desirable acreage in Somerset County with public utilities and in regions closer to the coast cost around $450,000 per acre.
Why are the ranges so broad?
These numbers are based on currently available land in Central New Jersey. The lower end of the ranges will include undeveloped land. Larger properties are more likely to be found further inland, where land tends to cost less per acre on average. The population and economic activity in an area can also greatly impact the cost per acre of land. Rural areas tend to be much more affordable (lower cost per acre) than denser urban areas or the suburban neighborhoods that surround cities. Similarly, the more people there are trying to live and work in an area, the higher demand for housing is and the higher costs will be. For this reason, land located in north or central New Jersey, close to bustling New York City, tends to be more expensive than land located further south.
is buying an acre of land a good investment?
Buying an acre of land can be a good investment, but it depends on various factors such as location, market trends, zoning regulations, and your long-term goals. We've discussed the importance of location in determining the cost of an acre of land, but other factors matter too.
Market trends, zoning regulations, development potential, and your long-term goals for the land all factor into whether the cost of an acre (multiplied by the number of acres purchased) is worth it to you. If you are looking to raise horses, then buying a larger lot further inland is a reasonable option. If you're looking merely for enough space to build your custom home, then a smaller lot closer to the coast is a reasonable investment choice.
how much land is in new JERSEY?
While you're busy factoring in the cost of one acre of land versus how much it costs to buy five acres, you might also wonder if the small but mighty state of New Jersey has enough land for your plans. The Garden State has a total land area of approximately 4,845 square miles (12,545 square kilometers).
The largest county in New Jersey by land area is Burlington County. It covers approximately 805 square miles, making it the largest county in the state in terms of land area. However, the county you choose to live in should match your needs and lifestyle.
Due to constant market changes and what an average acre costing is worth to the individual, land is always for sale in New Jersey.
how much does it cost to clear an acre of land in new jersey?
The cost of an acre of land is influenced by whether it is cleared or uncleared, the location, the utlities, and other facts. The cost of merely clearing an acre of land.
The cost to clear an acre of land in New Jersey can vary widely depending on various factors such as the size and density of the vegetation, accessibility of the land, local labor rates, and any additional services required. On average, clearing an acre of land can cost anywhere from $3,000 to $10,000 or more. This cost typically includes clearing trees, shrubs, and other vegetation, as well as removing stumps and debris.
Utilities and access to amenities, in addition to the part of New Jersey you purchase land in, are additional costs.
Ready to Buy land and build in New Jersey?
Start here!
No matter how much land costs, New Jersey land is valuable, as are the homes that are built on New Jersey land. With excellent schools, open spaces for hobbies, accessibility to important urban areas, and diversity of the population, there are plenty of reasons to buy land and build a home in New Jersey.
GTG Builders is highly knowledgeable and experienced in building custom homes in New Jersey, including when it comes to what makes land suitable for building a home. Contact GTG Builders today to learn more about your land and custom home building options today!
