Condos and Condominiums in the Long Beach Island Real Estate Market
Click here to search all homes for sale in the Long Beach Island NJ real estate market
LBI Real Estate Condominium 
LBI Real Estate Condominium 
LBI Real Estate Condominium
Long Beach Island Real Estate Condos
An LBI real estate condominium, also called a condo, is a form of ownership in which multiple parties will each own a unit in a shared parcel of property. Typically, a condominium is purpose-built, meaning it was developed to sell off individual condos. Still, there are many ways for a condo to be created via a conversion. A condo on Long Beach Island will be governed by an association, which follows a set of established by-laws. A condo association’s governance can go a long way in determining a condo’s value in the local LBI real estate market. When looking to buy or sell a condo on Long Beach Isnad, you must first understand the condo market and the current demand for a specific unit type.
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 Condominium
There are many Condos and Condominiums in the Long Beach Island real estate market. Understanding the differences between them is helpful if you are considering the purchase of such a unit. Primarily, there are the following types of condos on LBI:
- Large, professionally managed complexes (usually over 15 units)
- Smaller associations (usually between four and ten units)
- Two-unit condos (also called side by sides)
- Converted hotels and motels
When one thinks of a condominium, they usually think of a large complex with shared amenities. These can undoubtedly be found in the LBI real estate market. These complexes will usually have around 20 units and will have a pool, boat slips, tennis courts, etc. Some great examples of these are SHelter Harbor in Beach Haven, Arlington Beach Club in Ship Bottom, Victoria Rose in Beach Haven, and The Fishery in Ship Bottom. These complexes will be professionally managed in most cases and have a higher HOA feel. There are also smaller associations that often lack the shared amenities and are perhaps self-managed but still “look” like the traditional condo association. These will usually have a lower HOA fee, thanks to their simple common areas. Long Beach Island also has a high number of two-unit condos. Typically, these are found when an existing duplex is converted into two separate condos or a new side by side condo is built on a pre-existing multi-family lot. In either case, these are still condos even though they look and feel like a single-family home. Lastly, some hotels and motels have been converted into a condo. These units are often very small, and the association will consist of between 4 and 10 units (although some are larger or smaller). It is important to note that many of these converted hotels can encounter difficulty with financing, so it is essential to first check with your lender.
Condos and Condominiums in the Long Beach Island Real Estate Market
Buying or selling a condo in the LBI real estate market can be a smart move if this area of the market is understood. Before purchasing a condo on Long Beach Island, a buyer should investigate the homeowner’s association and the by-laws to ensure they are managed correctly. This, like the available common areas and the financials, can significantly impact the use and monetary value of a condominium. 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
You May Also Like:
Agency Disclosure in the Long Beach Island Real Estate Market
Long Beach Island Real Estate Brokerage
Five Factors that Determine Value in the LBI Real Estate Market