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title
Why New Construction Loans Are Key to Growth in New Jersey in 2024
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Why New Construction Loans Are Key to Growth in New Jersey in 2024 The New Jersey real estate market is at a pivotal moment in 2024. Developers grapple with rising construction costs as demand for new homes and commercial spaces skyrockets. Building a new home in the state now ranges from $200 to $600 per square foot, depending on factors like home size, design, and location. This surge in costs pose a challenge for developers and investors, especially for the new ones. However, with new construction loans by experienced hard money lenders in New Jersey, investors can meet the state's growing demand. Let's look at the role of new construction loans in New Jersey’s development. What Are New Construction Loans? New construction loans are short-term loans specifically designed to fund building new properties from the ground up. Unlike traditional ...
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