What Makes a Home Valuable in the Long Beach Island NJ Real Estate Market
How to Determine Value in the LBI Real Estate Market 
How to Determine Value in the LBI Real Estate Market 
How to Determine Value in the LBI Real Estate Market
Long Beach Island Real Estate Valuations
When looking to buy a home in the LBI real estate market, most buyers treat the purchase, at least in part, as an investment. Like any market, Long Beach Island real estate goes up and down, but some constants can help buyers determine value in the LBI real estate market. Specifically, the following are a list of the most significant factors:
- Location (proximity to the beach or bay) and the area of LBI
- Lot size
- Base flood elevation and flood insurance cost
- The layout of the house
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
How to Determine Value in the LBI Real Estate Market
It is an undisputed fact that location above all else determines value. Location is a two-part discussion on Long Beach Island. There are some areas and towns on LBI that tend to trend higher in appreciation and overall value. Likewise, the proximity to the ocean or bay (thereby granting a view) can have a notable swing on the value of a home and how that value will hold up. Both of these factors need to be accounted for as there can be oceanfront homes in one town that can trade for less than an ocean block home in another. The majority of value on Long Beach Island is in the land. Therefore, the size of the lot and what can be developed goes a long way to create and retain value. Even after Hurricane Sandy, many homes did not see as significant a drop in value as some would expect for the simple reason they had a large lot. This will determine what can be built in the future which can drive current and future values in the LBI real estate market. Assuming a house is in good overall condition, the elevation above sea level and the cost of flood insurance will have an impact on the value of a home on Long Beach Island. A house that is below base flood elevation will see a higher cost of flood insurance and a greater risk of flooding. Therefore, it is expected that these homes will appreciate at a slower rate than a home that is elevated above the base flood elevation. Lastly, the layout of the house drives value. There are genuine examples of homes that could have benefited from a reversed living design, and because they did not, they have seen a substantial drop in the rate of appreciation. Understanding and adhering to these points should help a buyer be able to navigate the market and find a home with real value.
Buying in the Long Beach Island Real Estate Market
Buying a home in the Long Beach Island real estate market is a significant investment. As such, you want to make sure your investment is as secure as possible. There are certain ways to beat the market, for example, building a new home, but even with that, buyers have to have a fundamental understanding of how to maintain value long term. If you have any questions 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
Click here to search all homes for sale in the Long Beach Island NJ real estate market
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