Property Locations in the LBI Real Estate Market

Ocean and Bay Homes on Long Beach Island

Property Locations in the LBI Real Estate Market
Property Locations in the LBI Real Estate Market

Long Beach Island Real Estate

Long Beach Island is a barrier island 20 miles long and with a variety of different locations and property types available. The number one driving factor in the LBI real estate market is a property’s location. This, above all else will influence the price a buyer pays for their home. Understanding property locations in the LBI real estate market is an essential first step to buying a second home, vacation property, or investment.

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Property Locations in the LBI Real Estate Market

There are six primary locations in the LBI real estate market. They are:

  • Oceanfront
  • Ocean Block
  • Oceanside
  • Bayside
  • Bay Front
  • Lagoon Front

Oceanfront homes are located directly on the beach. In most cases, this will be the most expensive location on Long Beach Island. It is important to understand the CAFRA billing guidelines so you may determine the value of the property. It is also important to understand flood zones, as many oceanfront homes are located in the V zone which tends to carry a higher cost of flood insurance.

Ocean block homes are located on the first block between the ocean and a back road. These homes will have direct access to the beach with no streets to cross. Most homes on the ocean block areas of Long Beach Island will offer a nice view of the were and will typically sell at a premium. It is important to understand flood zone of the ocean block homes as some are located in the AO zones which can have additional restrictions.

Oceanside homes are located east of Long Beach Blvd. and offer the advantage of not having to cross the main road to access. Oceanside homes are a very popular location in the LBI real estate market as they offer a less expensive price point than their ocean block and oceanfront counterparts, yet still offers easy beach access. Most Oceanside homes are located in the A flood zone which is manageable in terms of flood insurance.

Bayside homes, and in some cases Bay block homes, are located west of Long Beach Blvd. and require the crossing of the main road. When looking at a Bayside home on LBI, it is important to keep in mind that proximity to a traffic light which can make crossing Long Beach Blvd. much easier. The Bayside offers a quieter area than most Oceanside or ocean block locations and many Bayside homes will have a nice view of the bay and sunset. The ground elevations tends to be lower on the Bayside, it is important to check elevation levels relative to the cost of flood insurance. Bayside homes will commonly be less expensive than those on the Oceanside or ocean block.

Homes on the bayfront offer beautiful views of the bay and sunset, coupled with the ability, in most cases, to directly access the water on a boat. A buyer who is looking at a bayfront home in the LBI real estate market should consider if the home has Riparian Rights as this allows the ability to construct a dock.

Lagoon front homes are located on small man-made channels on the Bayside areas of Long Beach Island. These would be in front homes offer direct access to Barnegat Bay, however are less expensive than a home on the bayfront. With homes have a higher appeal to boaters and their location can help protect boats against storms.

Long Beach Island Real Estate Locations

When looking to buy a home on LBI, it is important to keep in mind your intended use. There is a great deal more than I have covered above that needs to be understood when shopping for the correct location. For example, Oceanside, ocean block, and oceanfront homes will rent a higher price point and rent more frequently than their bayside counterparts. That said, homes east of Long Beach Blvd. will also sell for more money, so the additional rent is needed to help justified or higher upfront purchase price. While location is important, the size of the lock on LBI is equally important as that will determine the size of a home that can be built. A great location with an undersized lot will see a much lower sales price than a standard sized property. That is why it is important to keep each variable in mind when looking for a second home, vacation property, or investment in the LBI real estate market. For more information about property locations in the LBI real estate market CONTACT MEĀ and I will respond right away.

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com

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