Long Beach Island NJ (LBI NJ) Real Estate Vacation Properties
Three Things to Consider When Buying a LBI Real Estate Vacation Property 
Three Things to Consider When Buying a LBI Real Estate Vacation Property 
Three Things to Consider When Buying a LBI Real Estate Vacation Property
Long Beach Island Real Estate
The Long Beach Island real estate market is mostly made up of second homes (vacation properties) and investment properties. In many cases these two concepts merge into a vacation house that is rented to help with the ownership costs. For those looking to buy a home in the Long Beach Island real estate market it is important to understand what makes value. To that end there are Three Things to Consider When Buying a LBI Real Estate Vacation Property (well a lot more than three but these are three important ones).
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
Three Things to Consider When Buying a LBI Real Estate Vacation Property
While there are many aspects and nuances to a resort market like LBI, there are three universal factors that can influence value. They are:
- The location of the property
- The cost of insurance (and ownership costs in general)
- What can be built on the lot or how can the property be improved
Above all else the location of the property will determine the value. Location in the LBI real estate market refers to both the town and the distance to the beach. There are real differences in value among the various parts of LBI and understanding these can impact your personal use and the investment itself. Some areas are more crowded than others and some have an abundance of attractions while others are all residential units. Knowing what you are looking for in a vacation home on Long Beach Island will help guide your location search. The cost of ownership and specifically the cost of flood insurance is another fact that cannot be ignored. A home that is below base flood elevation is at risk for a higher cost of ownership. This higher cost of ownership can exceed the short and long term value of the home. Likewise there are certain flood zones, specifically the V flood zone, that carry an extremely high cost of insurance. Lastly buyers in the LBI real estate market should understand how the property can be improved. In the case of an older single family home or duplex this usually means what can be built on the lot. For this a buyer and their agent have to understand setbacks, lot coverage, etc. For a condo or a more modern home, a buyer should consider what can be done long term to add value. This can be as simple as cosmetic updates or as complicated as an addition. In either case, knowing keeping these Three Things to Consider When Buying a LBI Real Estate Vacation Property can help make your vacation property more enjoyable and the long term investment more profitable.
Buying a Home in the LBI Real Estate Market
Buying a home in the LBI real estate market involves understanding what your wants and needs are. For some the home will strictly be a vacation property and for others an investment. Understanding what your focus is will help determine how you navigate the LBI real estate market. Above all else you need to have your questions answered and understand how the different parts of LBI differ. 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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