Single Family Homes in the LBI NJ Real Estate Market Over $2,000,000

The high end of the LBI real estate market offers a number of different opportunities. The most expensive homes on Long Beach Island will trade in the $10,000,000 range so there is clearly a wide range of options for buyers in this budget. It is very common to see large tracts of land in prime locations sell as tear downs within this price range, especially in the areas of Loveladies, North Beach and along the oceanfront. New construction along the oceanblock areas throughout the LBI real estate market will also often trade in this price point. For end users, buyers can expect:

• High end finishes such as Viking and Wolf appliances
• Large decks with breathtaking views of the water
• Privacy in the design and use of these properties

Homes in this price range will typically be on or very near the water. Some homes will have large, in deck pools overlooking the Atlantic Ocean, helipads or docking for a sea plane! Homes on the very top of this price range will offer multiple acres of land on the oceanfront or bayfront in areas such as Loveladies or Webster Lagoon.

It is important for all buyers to remember that all homes in this price range are subject to the "mansion tax" which equates to 1% of the purchase price paid by the buyer to the State of New Jersey. This expenses is due at closing and must be factored into the overall transaction.

Buyers looking for homes in this price point may also consider building a new home on Long Beach Island. This budget will easily allow for the purchase of land and the building of a new home. While this is a significant investment of time, approximate one full year from start to finish, the finished home should have between 20% and %30% equity in the home relative to the project cost. This kind of appreciation makes such an endeavor highly attractive for both personal enjoyment and long term investment in the LBI real estate market.