Purchasing a Home May Make More Sense Than Renting in the Long Beach Island, New Jersey Real Estate Market
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Buying a Home in the LBI Real Estate Market May Make More Sense Than Renting 
Buying a Home in the LBI Real Estate Market May Make More Sense Than Renting 
Buying a Home in the LBI Real Estate Market May Make More Sense Than Renting
Long Beach Island Real Estate
There has always been an agreement for and against buying or renting a home. In both a primary home market and in a seasonal resort area like Long Beach Island, both sides have merit. Anyone looking to vacation on Long Beach Island should at least be aware of the options and the pros and cons of both. For some, the choice is evident; for others, you may need to investigate the market to better understand the options.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Buying a Home in the LBI Real Estate Market May Make More Sense Than Renting
The Argument for Buying
Owning real estate is an excellent way to build wealth and have control. Owning a home gives you some control over the cost of owning a home. The LBI real estate market has, time and time again, proven to be a sound investment with stable prices and appreciation. The summer rental market itself is one of the most compelling reasons to buy and not rent, as a homeowner can rent the house to cover the ownership costs while at the same time using the home when it is not rented. It is entirely possible to purchase a home with 20% down and have the annual seasonal rent cover the entirety of the ownership costs and even turn a profit. Owning a home is also a good hedge against inflation. With the recent price increases on Long Beach Island and the higher cost of, well, everything, many homeowners are raising their rents.
The Argument for Renting
Renting a home gives you more freedom and a lower upfront cost with less maintenance. Renting a home in the LBI real estate market gives you the ability to choose different homes or different vacation destinations besides Long Beach Island. It also avoids the high upfront cost of a downpayment, allowing you to pick different investment opportunities. Lastly, renting avoids the ownership costs and maintenance expenses of owning a home on Long Beach Island.
Purchasing a Home May Make More Sense Than Renting in the Long Beach Island, New Jersey Real Estate Market
Long Beach Island offers a lot of investment options, and buying a rental property that you can use for yourself is a great way to enter the market. As I mentioned above, owning a rental property in the LBI real estate market and taking advantage of the summer rental market, you have the ability to build equity, collect rent, and still have a vacation home. For more information about buying, selling or investing in the Long Beach Island real estate market please do not hesitate to contact me.
By : Nathan Colmer | LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
More LBI Real Estate Information:
Buying LBI Real Estate is a Smart Investment
Who Invests in the LBI Real Estate Market
5 Reasons Long Beach Island is a Great Place to Buy a Home
Rising Mortgage Rates in the LBI NJ Real Estate Market