Best Places to Buy a Fixer-Upper

The Neighborhood
Hoboken, Lambertville, Morristown—over the last 20 years, many New Jersey towns have reversed their declines to become vibrant places to live, work, and visit. Now the small city of Phillipsburg is poised to turn the corner. So says Gerry Kasper, a local realtor who, during the past decade, has seen this Delaware River town transform itself into a home for those who love historic architecture, small-town living, and outdoor activities. Indeed, a renaissance is underway in Phillipsburg’s historic downtown: Filled with townhouses and brownstones, it was recently declared eligible for the National Register—and is drawing first-time buyers.

The Houses
The town's 19th- and 20th-century houses include downtown brownstones and multifamily townhouses, most with original details; stately Queen Annes along the riverfront; and shotguns, Colonial Revivals, and bungalows in other areas.

The Prices
A fixer-upper townhouse runs as little as $110,000; a Colonial Revival in darn good shape costs around $175,000.

Why Buy Now?
East Coast real estate addicts are currently bidding on Phillipsburg's historic buildings with visions of "the next big thing"—which just happens to be 30 minutes from the Pocono Mountains and an hour and a half's commute to Philadelphia or New York City.

Among the best for:
Fixer-Uppers, First-Time Buyers, Queen Annes, The Northeast

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