Buying a New Home in the Long Beach Island Real Estate Market

Buying a New Home in the Long Beach Island Real Estate Market

Buying LBI Real Estate New Construction

Long Beach Island Real Estate New Construction

When buying a new construction in the Long Beach Island real estate market there is a good chance the house was developed to be sold by a builder or investor. This is often called a “flip” or a “spec” project on Long Beach Island. In the situation, an individual or a builder will purchase a piece of vacant land or a home to be torn down and a new construction built in its place. This is very different from purchasing a home built by an end user as the entire project was done with the intention of generating a profit. The builder may have cut some corners This can make buying Long Beach Island New Jersey real estate new construction more challenging than buying a traditional house and makes it all the more important to understand what a home offers.

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 New Home in the Long Beach Island Real Estate Market

I have written many articles about building a new home as an end user but this can be a time consuming project. If you as a buyer are intending on buying Long Beach Island real estate new construction, there are a few things to consider which will impact the price of the project. Among these are location, size of the lot, and the finish work. This would be the case with any home in the LBI real estate market however it is important for a buyer to ensure that too high a premium is not placed on the final interior and exterior appointments of a home. Additionally, any buyer should undertake the following steps:

I cannot overemphasize the importance of having an inspection on a new home in the LBI real estate market. Many buyers are surprised to find that a home inspection is needed for a new home. In fact, it is perhaps MORE important to inspect a new home. A new home on LBI has not been lived in and therefore the “bugs” of the house are not known. By having an inspection the minor but annoying imperfections of the home can be found and dealt with.

Buying and Selling in the Long Beach Island Real Estate Market

There are many opportunities in the Long Beach Island real estate market and for some, buying new construction makes the most sense. That said, before a brand-new house is purchased, it is important to explore all your options including buying a teardown and building new for yourself.  This can give you a strong equity position if you are up for the +/- year long project. If you have any questions about these LBI real estate misconceptions or about buying, selling or investing in the LBI 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

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market

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