Long Beach Island New Jersey Real Estate | LBI NJ Real Estate | Nathan Colmer

Long Beach Island Oceanfront Homes

Nathan Colmer | Van Dyk Group

C: 609.290.4293 | O: 609.492.1511

Long Beach Island Oceanfront Homes

 

Oceanfront homes are located directly on the beach. In most cases, this will be the most expensive location on Long Beach Island. It is important to understand the CAFRA billing guidelines so you may determine the value of the property. It is also important to understand flood zones, as many oceanfront homes are located in the V zone which tends to carry a higher cost of flood insurance.

 

 

Long Beach Island Oceanfront Homes | LBI Real Estate Oceanfront Home Sales

LBI Real Estate Buyers

 

 

 

LBI Real Estate Oceanfront Home Sales

Oceanfront homes in the LBI real estate market have seen an explosion in demand and in pricing. There has been a wave of new construction taking place which has helped to drive up the price point of all homes on the oceanfront. On average, a new construction home on the oceanfront will trade for about $1,000/ sq. foot and with the average new construction being between 3,000 and 4,000 sq. feet, it is clear that this is the most expensive price point on Long Beach Island.

Long Beach Island Oceanfront Homes | LBI Real Estate Oceanfront Home Sales

Buying Oceanfront Real Estate on Long Beach Island

Oceanfront homes are located directly on the beach. In most cases, this will be the most expensive location on Long Beach Island. It is important to understand the CAFRA billing guidelines so you may determine the value of the property. It is also important to understand flood zones, as many oceanfront homes are located in the V zone which tends to carry a higher cost of flood insurance.

There are several factors that determine the value of an oceanfront home on Long Beach Island. At a minimum they are:

  • Lot size
  • House style and age
  • Setbacks

The size of the lot and the amount of that lot that is build-able has a major impact on value. Homes with a larger "frontage" on the ocean are generally worth more since more of the house will likely have an ocean view. Secondly, the age and condition of the home will play a major role in the home's value. Of course a newer home will be worth more but the compliance to local codes can be significant as well. Since Hurricane Sandy the building heights have increased. This allows for a taller home with better views. In addition, if a home is not built to be reversed living, the view-and the value of the home-will be diminished Lastly, understanding the setbacks is essential to understanding the oceanfront real estate market on Long Beach Island, especially if you are building. If a home cannot be moved or built "forward" on a lot (towards the ocean) it is at great risk of losing views to the north or south.

 

 

 

 

Long Beach Island Oceanfront Homes | LBI Real Estate Oceanfront Home Sales

Flood Insurance Rate and Oceanfront Homes on LBI

A “V” flood zone is considered to be an area of higher risk. Therefore, flood insurance rates tend to be higher in a V zone as compared to an A zone. Likewise, there are building restrictions and additional methods that are recommended to safeguard the house. It is very important to understand New Construction in a V Zone on Long Beach Island NJ but in short homes but be built higher, with breakaway walls and, to achieve the best rate, built without enclosures below the structure. When building in an A or a V zone, both FEMA and the towns have established a minimum required height, often known as the BFE (Base Flood Elevation) however building higher than the BFE will lower both the flood insurance premium on LBI as well as future flood risk in general. A helpful example is offered by FEMA’s  to demonstrate how by building higher, the flood insurance rate (premium) on Long Beach Island will drop significantly

  • A single story home built on wood pilings in a VE flood zone built to BFE (base flood elevation) would have a monthly premium of roughly $878/ month.
  • A single story home built on wood pilings in a VE flood zone built 3 feet ABOVE BFE (base flood elevation) would have an estimated monthly premium of only $315/ month!

This is a savings of almost $6,800/ year on flood insurance on Long Beach Island NJ!

New Construction in a V Zone on Long Beach Island NJ

If you are planing to build a new home in the V zone on LBI, your architect will explain the exact guidelines involved with the construction of the house but a few points to consider are:

  • Everything below base flood elevation must be sacrificial and no living space can be below base flood elevation when considering New Construction in a V Zone on Long Beach Island NJ
  • The exterior walls must consist of a break away wall system
  • The garage slab must be no more than 4″ thick and cannot be supported by pilings of other means

In short, New Construction in a V Zone on Long Beach Island NJ must be able to sustain high velocity winds and water damage such that the entire underneath of the house can be “washed away” and the water may flow freely below.

 

 

 

 

Long Beach Island Oceanfront Homes | LBI Real Estate Oceanfront Home Sales

Long Beach Island CAFRA

CAFRA is a government agency that oversees certain development of residential and commercial properties in the defined CAFRA area (of which Long Beach Island is a part). CAFRA, along with the local township, determines what kind of building can be built in a certain area. The following items are regulated by CAFRA:

  • Development of a beach or a dune
  • Construction of buildings between the high water line and a point 150 feet towards the land
  • Large residential developments of 25 or more units
  • Commercial developments with 50 or more parking spaces

On Long Beach Island, CAFRA is most commonly invoked when building an oceanfront or bayfront property.  When building an oceanfront home, there are a number of points to be considered. A property owner has to consider both CAFRA and the local township setbacks and guidelines. CAFRA will establish a building envelope that does not interfere with the local environment including the dune system. The requirements for this have changed in some areas of LBI as the older natural dune system are no longer considered the "primary dune" thanks to beach replenishment. Beach replenishment has created a new dune system rendering the old dune system obsolete in some areas. The local township will then determine what can be built within the CAFRA approved building envelope. There are a few exemptions to CAFRA. While there are far to many to list, there are some commons exceptions that should be understood. For example. CAFRA is not required for building, renovating or elevating (commonplace on LBI) in the same footprint of a structure which was legally existing on July 19th 1994 with no expansion. CAFRA also allows exceptions for decks and patios provided they do not result in the grading or excavation of any beaches, dunes or wetlands.

 

 

 

More Long Beach Island Oceanfront Information

Visit the LBI Waterfront Home section of my website for more information about oceanfront, bayfront and Lagoonfront homes in the LBI NJ real estate market.

 

 

Long Beach Island Oceanfront Homes | LBI Real Estate Oceanfront Home Sales

LBI Real Estate Oceanfront Home Sales Updates


Long Beach Island Oceanfront Sales

Oceanfront Sales in the Long Beach Island NJ Real Estate Market Long Beach Island Real Estate The Long Beach Island real estate market has been having a very strong 2016 year, and this is especially true in the oceanfront sales market. For most,  waterfront homes, and oceanfront homes in particular, offer the pinnacle of living […]

 

Oceanfront Sales Update on Long Beach Island

Single Family Oceanfront Home Sales in the LBI Real Estate Market LBI Real Estate Oceanfront home sales market on Long Beach Island is an excellent indicator of the overall strength of the LBI real estate market. Of all the different property locations on Long Beach Island, most would agree the oceanfront is the most highly […]

 

Oceanfront Home Sales in the Long Beach Island NJ Real Estate Market

Ocean front Real Estate Transactions in the LBI Real Estate Market on Long Beach Island New Jersey   Long Beach Island NJ Real Estate Market The Long Beach Island NJ real estate market has shown amazing resilience in the wake of Hurricane Sandy. Both interest and activity in the Long Beach Island real estate market […]

 

 

 

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Your LBI Beach House is a Phone Call Away! Call Nathan Colmer 609-290-4293

Nathan Colmer

609.290.4293

ncolmer@vandykgroup.com

The Van Dyk Group

12800 Long Beach Blvd

Beach Haven Terrace NJ 08008

609.492.1511