Why Condominiums Should Be Considered As Part Of Your LBI Real Estate Search

Why Condominiums Should Be Considered As Part Of Your LBI Real Estate Search

Pros and Cons of Condos in the Long Beach Island NJ 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

Anyone looking to buy a home in the LBI real estate market knows the challenges of a low inventory market. While there has been some improvement in the number of homes for sale, inventory also has seen dramatic drops as buyers pick up new homes quickly. This presents obvious challenges for buyers in the LBI real estate market. Low inventory is only part of the issue, interest rates are increasing, making buying a home even harder than before! In this changing environment, buyers in the LBI real estate market would be wise to open up their criteria to consider condos as well.

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

Why Condominiums Should Be Considered As Part Of Your LBI Real Estate Search

Owning a condominium in the LBI real estate market is not for everyone, and they have negatives and positives. For example, a condo will be the last to appreciate and the first to depreciate when compared to a single-family home. That said, in a market of low inventory and higher lending costs, a condo can offer an excellent way to establish a presence on Long Beach Island at a more affordable price point. Some buyers come into the Long Beach Island real estate market and only want to look at single-family homes. If that is the best option, that is fineā€¦but condos can come in many shapes and sizes, some of which are as large as single-family homes. For example, a side-by-side condo often will offer 3-5 bedrooms and around 2,000 sq feet of living space. Of course, there are smaller condos as well, but sometimes condos can offer an excellent and more affordable alternative to a single-family home. Condos also offer some obvious advantages in a second home market, such as less upkeep and more amenities!

Pros and Cons of Condos in the Long Beach Island NJ Real Estate Market

Ultimately, owning and living in a condo on Long Beach Island is a personal choice that offers pros and cons to any buyer. The lower rate of appreciation offsets the lower entry price and less upkeep. If that appeals to you, they could give you the added options you need to buy your first home in the LBI real estate market. Adding condominiums to your housing search on Long Beach Island could be a great move so long as you understand the condo market and how it relates to the rest of the Long Beach Island NJ real estate sales market. For more information about buying, selling or investing in the Long Beach Island 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

More LBI Real Estate Information:

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The Hidden Costs of Buying a Home in the Long Beach Island Real Estate Market

The Role of a Title Company in Long Beach Island Real Estate

LBI Real Estate Equity

Things to Do on Long Beach Island (besides going to the beach)

New Construction Upgrades in the Long Beach Island NJ Real Estate Market