Buying a House on LBI NJ in the LBI NJ Real Estate Market
Long Beach Island NJ
Long Beach Island NJ or “LBI” as it is also known is a beautiful, family oriented barrier island off the southern coast of New Jersey. Chances are, if you are looking at Buying on LBI NJ, you have been to Long Beach Island before and have a fair idea of what you like and do not like about the area and it is important to remember the different areas of LBI and how they will serve your needs when Buying on LBI NJ.
The LBI Real Estate Market on Long Beach Island NJ
The LBI real estate market on Long Beach Island NJ is comprised of three main residential categories. They are:
- Single Family Homes in the LBI real estate market
- Condominimumns in the LBI real estate market
- Multi-Family Homes in the LBI real estate market.
Each property type has positives and negatives and it is important to understand them before committing to a purchase. Single family homes, generally speaking, tend to be the best investment and hold their value better than a condominium or a multi-family home. That being said, single family homes tend to cost more upfront and will therefore require a larger downpayment. A duplex may prove to offer the most flexibility as the rental rates (of the two combined unites) can be higher than a single family home.
Most buyers in the LBI real estate market have rented on LBI in the past. This will give most buyers on LBI a good starting point when looking at Buying on LBI NJ. Even with this foundation, a great deal of market research is required and most of it will take place on Long Beach Island. When you begin your search in the LBI real estate market, I advise my clients to spend some time with me looking at the different areas of LBI and the different styles of homes available in the LBI real estate market. In short, your first trip to LBI when looking at Buying on LBI NJ should not be to find THE house your are going to buy but rather the TYPE of house and the AREA you want to buy in. This will allow you to better understand the LBI real estate market as a whole and better recognize buying opportunities when them come on the market.
Above all else, the house you buy must fit your needs. If you are an avid boater, like to fish and crab or are big on sunsets, you may find the bayside better suited to your needs than the oceanside. If you have small children and the distance to the beach is an issue, you should center your search on the oceanside and areas of LBI that have a short bayside/oceanside like Brant Beach (which is why an initial trip to LBI is so important).
Buying on LBI NJ in the LBI Real Estate Market
If you are planning on Buying on LBI NJ I would be happy to help you understand the different areas of Long Beach Island, current LBI real estate market trends and how Hurricane Sandy has impacted flood insurance on Long Beach Island. Please do not hesitate to contact me, Nathan Colmer, with any questions or you can click here to search all homes for sale in the LBI real estate market.
Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | email@example.com