Why Buying a Home in the Long Beach Island Real Estate Market Might be Better Than Renting
Why Buying a Home in the LBI Real Estate Market Can Be Better Than Renting 
Why Buying a Home in the LBI Real Estate Market Can Be Better Than Renting 
Why Buying a Home in the LBI Real Estate Market Can Be Better Than Renting
Long Beach Island Real Estate
Long Beach Island has a strong summer rental market, and many tenants dream of owning a home on LBI. The problem is that the LBI real estate market is expensive, and buying a home is a significant investment. Deciding if this is the right time to stop renting and buy a house on LBI is a complicated and personal choice. It’s a decision that many summer renters face every summer, and it can be challenging to make. However, weekly summer rental rates are expensive, especially for those who rent for multiple weeks, and for some, buying a home on Long Beach Island is a better use of their money.
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
Why Buying a Home in the LBI Real Estate Market Can Be Better Than Renting
Given that weekly summer rental rates on Long Beach Island are higher now than they were pre-pandemic, owning your own home in the LBI real estate market might be a more affordable option, especially if you decide to rent the weeks you do not use. While mortgage rates have increased, making the total cost of owning a home on Long Beach Island higher, multiple lending options are available to many buyers, some of which carry a lower than expected interest rate. Owning your own home in the LBI real estate market also allows you to start building equity, which can grow your net worth over time. As home values typically increase over time and you pay off your mortgage, your equity grows. If you do decide to rent your home part of the time, tenants will help pay down your mortgage as well.
Why Buying a Home in the Long Beach Island Real Estate Market Might be Better Than Renting
Buying a home in the LBI real estate market is a major investment and one that should not be rushed into. Anyone considering this kind of transaction should discuss their intentions with a financial advisor and a lender to make sure they understand the economics of buying a home on Long Beach Island. As a real estate agent local to LBI, I can help you understand the finances involved with owning a home on LBI, and what the potential rent roll could be. By understanding the LBI real estate market and the costs of owning a home here, you can determine if buying or renting is the better option for you. For more information about Long Beach Island or about 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
More LBI Real Estate Information:
The Hidden Costs of Buying a Home in the Long Beach Island Real Estate Market
Where LBI Real Estate Market Prices Are Heading
LBI Real Estate Market Appreciation vs Depreciation