Long Beach Island Real Estate Buyer Terms
Click here to search all homes for sale in the Long Beach Island NJ real estate market
LBI Real Estate Buying Basics 
LBI Real Estate Buying Basics 
LBI Real Estate Buying Basics
Buying Long Beach Island Real Estate
Buying a home in the LBI real estate market can be intimidating. There are many variables in a second home market that a first-time buyer may not be aware of. These nuances can have s significant impact on the value of a home, so understanding these LBI real estate buying basics are a minimum for those looking to enter the market:
- Location matters the most
- The lot size is key
- Flood insurance and flood zones need to be understood by all buyers in the Long Beach Island real estate market
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
LBI Real Estate Buying Basics
The adage of location, location, location is certainly true in the Long Beach Island real estate market. However, location is a two-part discussion. First, there is the town or area of LBI (north end or south end, Beach Haven or Spray Beach, etc.), and second is the proximity to the beach. When searching for towns on LBI, there are significant differences that need to be understood. While there are far too many to list here, there are some areas that are higher and others that are lower (making them more prone to flooding), areas of larger or smaller lot sizes, and areas that are more rental focused. Knowing these differences can have a notable impact on investment. Lot size, and the zoning requirements of the different towns, will determine what can be built in the future. With new construction being such a meaningful force in the market, land value is of the utmost importance. A more substantial lot with better setbacks will be worth a great deal more both now and in the future. Therefore, knowing what can be built on a lot needs to be the basis of your LBI real estate knowledge foundation. Lastly, flood insurance. Like location, there is far too much to cover here but suffice it to say that knowing the flood zone, the estimated cost of insurance, and the flood risk will play a role in the valuation of a home. Therefore, knowing the cost of insurance and how a home is rated with FEMA must be a basic question asked by ALL buyers on Long Beach Island. It will also make up a portion of your ownership costs and that should be accounted for in the budget.
Long Beach Island Real Estate Buyer Terms
Buying a home in the Long Beach Island real estate market is a significant investment regardless of the price range. While many view this purchase as a second home, there is and should be an investment component considered as well. By knowing the basics of the LBI real estate market and what determines value, you can better position yourself for a smart purchase and a worthwhile investment. 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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