Understanding Subdivisions in the LBI Real Estate Market on Long Beach Island and Long Beach Township NJ
Long Beach Island NJ and the LBI Real Estate Market
Long Beach Island, or “LBI” as it is also known, is a summer resort off the southern coast of New Jersey. The Long Beach Island area offers numerous activates for summer fun which has helped develop LBI into a family vacation destination. The LBI real estate market is a major driving force in the local LBI economy and is responsible for not only the sale of real estate on Long Beach Island, but also for a number of summer vacation rentals. The LBI real estate market offers some excellent opportunities for new construction in the form of buying and demolishing an older home on LBI and constructing a new dwelling on the lot. This is a common practice on Long Beach Island and also creates the possibility of subdividing an existing larger lot into two smaller lots. There is a great deal to understand about subdivision and the specific rules and requirements will vary between the six separate municipalities on LBI. Since Long Beach Township is the largest town on Long Beach Island, this article will deal specifically with Subdivisions in Long Beach Township on Long Beach Island NJ.
Subdivisions in Long Beach Township on Long Beach Island NJ
Prior to beginning the subdivision process in Long Beach Township of elsewhere on LBI it is best to consult an attorney and an engineer to understand the specifics of the property in question and how it fits into the neighborhood. Subdivisions in Long Beach Township generally will fall into two categories: conforming and non-conforming sub-divisions. A conforming subdivision in Long Beach Twp. will meet one of the two following scenarios:
- A subdivision of two or more 6,000 sq. foot lots with a minimum of 60” of lot frontage and 100” of lot depth
- A subdivision where the proposed lots will meet or exceed 50% of the lots in a 200” radius surrounding the property.
- Apart from these scenarios, a subdivision will be deemed non-conforming and a variance will be required from the Land Use Board of Long Beach Township NJ.
It is common to see a large lot sized 120×100 be subdivided into two 60×100 lots. This will, in most cases, have a dramatic appreciation of value in the LBI real estate market. A 60×100 lot will still provide ample room to build a large house (usually around 2,500-3,000 sq. feet) and will be easier to sell than a large lot.
Many sub-divisions will take place after conforming with the second scenario outlined above which is commonly referred to as the “50% Rule”. Under this law, Subdivisions in Long Beach Township on Long Beach Island NJ are considered to be conforming if more than 50% of the lots within a 200” radius of the property to be subdivided are the same size or smaller than the proposed subdivision. There are many areas of Long Beach Township where the average lot sizes are smaller than the 60×100 that is sought after for new subdivisions. It is for this reason that the 50% Rule was passed. Town planners agreed that a large 60×100 lot would look out of place (as would the size house that can be built on it) in an area of 40×80 or 50×100 lots. By understanding this rule, a lot that is sized 80×90 may be able to be divided into two smaller lots that will better fit the neighborhood. This is a far more common scenario and can create a major benefit for all involved.
If a property does not adhere to either of the above scenarios, Subdivisions in Long Beach Township on Long Beach Island NJ may still be possible however a variance will be required. This will involve an appearance before the Land Use Board if Long Beach Township and a reasonable argument as to why the subdivision should be granted in spite of not complying with the town’s regulations.
Subdivisions in Long Beach Township on Long Beach Island NJ and the LBI NJ Real Estate Market
Before buying or selling in the LBI NJ real estate market, one should have a basic understanding of subdivisions in Long Beach Township and on Long Beach Island NJ in general. Subdivisions can have a major impact on the value of a home in the LBI real estate market and it is sadly common to see a house sell for significantly less than it should due to the owner’s and agent’s lack of understanding concerning Subdivisions in Long Beach Township on Long Beach Island NJ. Therefore, prior to any LBI real estate transaction, it is important to do your homework and research the topic of subdivisions on LBI. For more information concerning subdivisions on LBI or the LBI real estate market in general please do not hesitate to contact me, Nathan Colmer, with any questions!
Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | email@example.com