Getting Started in the Long Beach Island Real Estate Market
Long Beach Island Real Estate
Buying a home in the Long Beach Island real estate market can certainly seem like an overwhelming task. It is perfectly normal to have questions and to have a certain amount of anxiety about making such a large investment for a second home or vacation property. The good news is, there are some LBI real estate buyer tips which can help get you on the right track when making a home purchase. With so many styles of homes, property locations, and price ranges in the Long Beach Island real estate market, it is helpful to have a plan before you began your home search.
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LBI Real Estate Buyer Tips
Below are a few suggestions I have to help any buyer, regardless if they are new in the market or seasoned veterans in the Long Beach Island real estate market.
- Use a real estate agent
- Learn about flood insurance and flood codes
- Develop a timeline for your purchase and keep in mind the seasonal nature of Long Beach Island
It may seem somewhat biased that a real estate agent suggests using a real estate agent for a home purchase in the LBI real estate market however there is a practical reason for my suggestion. Apart from the knowledge of the area and the real estate market that an agent can provide, the efficacy of online search portals is somewhat questionable. Websites such as Zillow are not 100% accurate and very often are missing listings that are for sale in the LBI real estate market. This has to do with the manual entry that is required by some brokerage firms or an improper setting when entering a listing into the MLS. By neglecting to work with a real estate agent, it is very possible that you as a buyer are not seeing every house for sale on Long Beach Island. Flood insurance is a topic that cannot be over emphasized in its importance when buying or selling in the LBI real estate market. The cost of flood insurance, while not being outrageously expensive, is an additional cost which must be taken into account. In some extreme cases, the cost of flood insurance can be one of the most expensive elements of the entire LBI real estate purchase, excluding the land of course , so it is a factor that must be taken into consideration when determining your budget. Perhaps even more important than the physical cost of flood insurance are the rules governing improvements to a property and the thresholds which cannot be exceed it before a house must be elevated above base flood elevation. Lastly, it is important to establish a timeline that takes into account the summer season. The entire Long Beach Island real estate market centers around summer and there is a real value to purchasing a home in different times of the year. It is important to purchase your home in line with your intended goal in mind.
Buying Long Beach Island Real Estate
As I mentioned above, the purchase of a home in the Long Beach Island real estate market is a significant investment and one that cannot be rushed. It is important to have a plan in place and a thorough understanding of the current market trends and the rules governing important topics such as flood insurance and new construction. Understanding these elements is in essential first step to being able to buy with confidence in the Long Beach Island real estate market. For more LBI real estate buyer tips or more information about the Long Beach Island New Jersey real estate market, contact me and I’ll be happy to answer any questions you have.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
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