Tear Downs | Vacant Land | Long Beach Island

Information about Tear Downs and Vacant Land on Long Beach Island including building a new home on LBI after buying Tear Downs and Vacant Land on Long Beach Island. Building a new home in the LBI real estate market can result in an almost immediate return on your investment!

Tear Downs and Vacant Land in the Long Beach Island Real Estate Market

Buying a Tear Down or Vacant Land on Long Beach Island

There are many local zoning laws and setback requirements you must be aware of before attempting to purchase a "tear down" property. Lot size is important, but so is the distance between neighboring structures, distance to the water (bayfront and oceanfront must adhere to CAFRA), and local laws. 

You can build a footprint of +/- 33% of the lot with normal setbacks. Therefore, a 50x100 (5,000 sq. foot) lot will allow for a 1,650 sq. foot footprint (5,000 x 33% = 1,650). This footprint can be doubled to allow for the second floor.

It is important to point out that the above equation would result in a perfect box with no architectural style. Typically, cut-ins, pitched roofs, and decks will deduct about 10% from the total sq. footage.

Most areas require at least 15 feet between structures and a 4 foot and 11 foot setback on each side of the property. Front yard and rear yard setbacks are also required.

New Construction in the LBI real estate market will cost about $160-$170/ sq foot, depending on the style of house and the upgrades you want to include. Therefore, a 2,000 sq. foot house should cost you about $320,000-$350,000, depending on the house plus the cost of the land.

Read More About Buying a Home on Long Beach Island New Jersey