Additions and Renovations in the Long Beach Island NJ Real Estate Market
Renovations and Additions in the LBI Real Estate Market 
Renovations and Additions in the LBI Real Estate Market 
Renovations and Additions in the LBI Real Estate Market
Long Beach Island Real Estate
I am often asked about renovations and additions to homes in the LBI real estate market. While building a new home is usually the best investment you can make, there is a place for renovations and additions under the right criteria. There is no question that a home in the Long Beach Island real estate market is a considerable investment. With home prices trending higher, both buyers and sellers are paying close attention to ways to improve their equity position. Here we will discuss the pros and cons of implementing this kind of project.
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
Renovations and Additions in the LBI Real Estate Market
Renovations and additions to a home can have many positive and many adverse effects in this hyper-local market. It is necessary to consider the overall cost of the project, and how this cost will compare to the long-term value of a home in the LBI real estate market. With land being the most valuable part of any transaction on Long Beach Island, making a considerable addition may not improve your equity position. This is especially true when a new home will yield a view of the ocean or bay. When discussing the pros and cons of home additions in the LBI real estate market, it is best first to decide if building a new home is a better investment. Additions and renovations can increase:
- The value of your home (but not as much as a new home will)
- The enjoyment of your home by adding additional bedrooms and living space.
- An improvement in the overall design and curb appeal of a home
Before making any significant investment to a home in the LBI real estate market, you should review comparable sales to make sure you can recoup that investment. Very often, it cannot be recovered, especially if the home is on the ocean block or oceanfront.
The exceptions to this are:
- The traditional Cape Cod homes which can be renovated, assuming they are not in very close proximity to the beach
- Older contemporary homes in good locations with functional layouts that need cosmetic updates
- Homes that may be eligible for legal ground floor living space
Buying in the Long Beach Island Real Estate Market
Understanding how to apply an investment is a crucial step to understanding the LBI real estate market. Knowing what drives value will make you a smarter home shopper. I am happy to discuss the best options for your home from a market perspective so you can have all the information needed to make an informed decision. 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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