LBI Real Estate Dock-o-Minimum

LBI Real Estate Dock-o-Minimum

Dock-o-Minimum 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

Long Beach Island Real Estate

There are many forms of ownership in the Long Beach Island real estate market. Buyers can choose from single-family homes, condominiums, duplexes, vacant land, interval ownership, and a Dock-o-Minimum! A Dock-o-Minimum is a very misunderstood form of ownership on Long Beach Island, but it has a unique place that can open up a range of opportunities for a buyer in the LBI real estate market. Simply put, a Dock-o-Minimum is a condo form of ownership whereby the buyer purchases a boat slip!

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market

LBI Real Estate Dock-o-Minimum

Dock-o-Minimums are found all over Long Beach Island, with some of the largest being in High Bar Harbor, Beach Haven, and Holgate. Ownership of the boat slips can have many advantages such as:

  • Dock-o-Minimums usually have a very low entry cost, but some can be surprisingly expensive if the marine has some amenities.
  • The cost of buying and maintaining a slip can be the same as or even less than renting a boat slip in a marina.
  • A Dock-o-Minimum can allow a homeowner to have a permanent boat slip without owning a home on the water.
  • Some marines will allow the owner to live on the boat, so a Dock-o-Minimum (and a boat, of course) can be a very affordable way to own a vacation home on LBI.
  • A Dock-o-minimum can be rented most of the time and can provide a surprisingly good investment return.

Of course, a Dock-o-Minimum has negatives as well. They can be difficult, if not impossible, to finance, so a prospective buyer will usually need to pay cash (although the lower cost of a Dock-o-Minimum makes this relatively easy to accomplish). HOA fees are to maintain the dock and marine, which can vary depending on the amenities being offered and the association’s general condition. Overall, a Dock-o-Minimum provides an attractive form of ownership for some Long Beach Island buyers.

Dock-o-Minimum in the Long Beach Island Real Estate Market

A Dock-o-Minimum can make a lot of sense for a buyer under the right circumstances. This form of ownership is certainly not for all buyers, and it should be weighed against the pros and cons of buying a condo with a boat slip as these can offer more flexibility in the LBI real estate market. Owning a boat slip in the Long Beach Island real estate market can be a great end-user opportunity or rental investment for the right person. If you have any questions about buyingselling 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

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market

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