Finding the perfect home can feel like a daunting task, especially in a competitive market. But few have as much experience as the West Oak Team, sales associates with Coldwell Banker in downtown Basking Ridge. For this issue on investment, I sat down with Marie Young and her team. With over $60 million in sales last year, the team has helped clients navigate the complexities of buying and selling homes in a market where 47% of U.S. real estate agents sold zero homes. In a recent interview, they shared valuable advice for anyone looking to invest in real estate, including the home you live in right now.
Young emphasizes the importance of viewing your current home not just as a place to live but as a long-term investment. “When people look back at their first home, they often realize that it wasn’t just a home—it was the stepping stone to the next level,” she says. “Even if it felt like the ‘forever home’ at the time, it usually helped build the equity that allowed for future opportunities. This shift in perspective can make a big difference for both buyers and sellers, especially given the surge in property values over the past few years. People who bought homes in 2022 or 2023 have realized a considerable increase in equity,” she adds.
While we seldom think of the homes we live in as investment properties, over time, they may turn into just that.
Marie’s first home needed updates, but the price was right, the floor plan was great, and the neighborhood ideal. A one-year adjustable mortgage was 11%, compared to 16% for a fixed-rate mortgage. With each passing year, prices went up, and rates came down. “We enjoyed living there, and when it was time to leave the state, prices had almost doubled, and fixed rates were 10%. With that appreciation, we were able to purchase a fantastic home. Once again, our second home purchase withstood the test of time, and here we are!”
One of Karen Gray’s clients experienced something similar. Eager to join the Basking Ridge community and with severely limited single-family home supply, they purchased a townhome in need of a little love. They invested in beautiful updates, were able to experience life in the area, and when the dream home finally came along, they had already built the equity and stability to purchase it. Already owning the townhome locally gave them the peace of mind to continue their search for a single-family home at their own pace.
Many of their seller clients were previously buyers, while others chose West Oak Team members specifically to sell their homes. Young shared that when a life change unexpectedly caused a sale, even clients who had purchased their home thinking they would never move were pleased to discover how the value of their investment had grown. Enjoying appreciation in equity while staying in step with the market gave such sellers a strong sense of financial security.
Why Basking Ridge Stands Out: Community and Investment Potential
For those seeking a place to settle, the Somerset Hills is one of the best-kept secrets in New Jersey. “It’s green, beautiful, and has a wonderful sense of community,” Young says, explaining that the local environment and quality of life are key draws for families. “The schools are excellent, and people here really rally together. During the pandemic, the whole town chipped in to support local businesses, first responders, hospitals, and veterans. It’s that kind of town.”
The team also highlights the area’s proximity to major cities and amenities, including beaches, ski slopes, and the growing number of restaurants and local attractions. “This area has become a prime focus for people moving from cities like New York and Jersey City who want a more relaxed lifestyle with access to the best of both worlds.”
The Real Estate Strategy: Think Ahead and Invest Wisely
Hope Salamone and Neha Jain recommend maintaining the home’s value during ownership. “It’s not just about the market. It’s about upkeep,” they say. “Small issues, like peeling paint or aged appliances, can snowball into costly repairs down the line. Good maintenance shows and gives buyers a sense that the home has been well taken care of.”
“Even if you plan to live in the home forever, you’ll want to treat it like an investment. And if you eventually need to downsize or upsize, you’ll be in a much better position,” Karen Richman notes.
The team receives many accolades from their clients for the personalized service and the extras they offer to help homes look their best—complimentary staging, furniture placement by insured professionals, setting up fire and town requirement items, and attending to all the little things that, in the aggregate, can be monumental.
Opening Doors
With their deep knowledge of Basking Ridge and the local real estate market, the team is passionate about helping people find homes that align with both their lifestyle and investment goals. Whether you’re buying your first home, investing in property, or just looking for the right place to settle, their advice is invaluable for navigating today’s dynamic market.
As Young puts it, “It’s not just about finding a house—it’s about making sure that house will work for you both today and in the future.”
Whether your plans are longer or shorter term, call the team now - they can help you get started.
Marie Young and The West Oak Team, Basking Ridge Real Estate, Coldwell Banker
Address: 1 South Finley Ave, Basking Ridge, NJ 07920
Phone: (908) 938-2525
Website: marieyoung.net
“It’s not just about finding a house—it’s about making sure that house will work for you both today and in the future.” - Marie Young