Renting vs. Buying: What Makes Sense in the Long Beach Island Real Estate Market?
- Nathan Colmer
- Sep 20
- 3 min read
Renting vs. Buying: What Makes Sense in the LBI Real Estate Market?
By Nathan Colmer, Real Estate Agent
Long Beach Island Real Estate
If you have spent summers on Long Beach Island, you've probably asked yourself: Should I continue renting a vacation home or finally make the leap into ownership? It's a big decision, and renting a short-term summer property can feel like the easier option — especially when buying a home seems out of reach thanks to higher prices and low inventory in the Long Beach Island real estate market. However, if you're concerned about where renting might leave you in the long run, and wondering whether buying is even possible, it's time to take a closer look. The truth is, if you can make the numbers work, buying a home in the Long Beach Island real estate market offers powerful long-term financial benefits, especially if you decide to offset some of the cost by operating the home as a summer rental yourself.
By : Nathan Colmer | LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Buying in the LBI Real Estate Market Builds Wealth Over Time
When you buy a home on Long Beach Island, your monthly housing costs become an investment. That's because home prices on Long Beach Island tend to appreciate over time. As you pay down your mortgage and your property value increases, you build equity — your ownership stake in the home — which directly contributes to your net worth. The summer rental market on Long Beach Island can significantly help with this. By renting a few weeks out for the busy summer months, most buyers in the LBI real estate market can offset or eliminate their mortgage payments. This means that the tenants are paying off your mortgage and building the equity for you. Most buyers believe that owning a home is one of the best financial investments they can make, and often view their home purchase in the Long Beach Island real estate market as an investment. On LBI, where demand for coastal properties remains strong, that investment can be advantageous.
Renting in the Long Beach Island Real Estate Market Comes with Rising Costs
Short-term summer rentals on Long Beach Island may seem more affordable in the moment. But over time, rental rates tend to rise — especially for desirable weeks in July and August. Each season, you may face higher weekly rates, cleaning fees, and limited availability, all without building any equity. While renting works for those not ready or able to buy, it's essential to recognize that those rising costs can make it harder to find a suitable home that fits your rental budget.
Renting vs. Buying in the Long Beach Island Real Estate Market: The Long-Term Impact
When you own a home, your payments go toward building equity and securing your financial future. Renting, on the other hand, means your money is gone for good — helping your landlord build wealth, not you. If you've been renting a summer home on LBI for years, consider how much you've spent — and how that money could have gone toward owning your own piece of the island. As I mentioned above, you also have the option of renting the home out yourself and using the summer rental revenue to offset your cost of owning a home on Long Beach Island.
If you are financially ready, buying a home in the Long Beach Island real estate market is a smart move. It's more than just a lifestyle upgrade — it's a long-term investment that can yield significant returns for years to come. Whether you're looking for a beach house, a bayfront property, or a cozy cottage near the shops and restaurants, Long Beach Island offers a wide range of opportunities for buyers ready to explore their purchase options. I can help you understand the sale and rental market and guide you on whether this is the right decision for you and your family. For some, it is, and for others, it is not. By understanding the market dynamics, you can gain a better education and a deeper understanding of the LBI real estate market. Feel free to contact me to schedule a consultation for purchasing a home in the Long Beach Island real estate market.
By : Nathan Colmer | LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
