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

LBI Real Estate Condominiums

Nathan Colmer | The Van Dyk Group

C: 609.290.4293 | O: 609.492.1511

LBI Real Estate Condominiums

Learn about LBI real estate condos, condos on Long Beach Island, Nathan Colmer and Hurricane Sandy. Condos offer an excellent opportunity to buy an affordable home on Long Beach Island New Jersey. Condos come in many styles and price ranges so understanding the condo market on LBI is essential!

 

LBI Real Estate Condos | Condos on Long Beach Island New Jersey | Nathan Colmer

LBI Real Estate Condos on Long Beach Island NJ

 

LBI Real Estate Condos | Condominiums on Long Beach Island New Jersey | Nathan Colmer

Condos are a popular alternative to the single-family home on LBI and typically offer a lower price point.  Long Beach Island New Jersey has many large condo complexes that offer common amenities such as pools, tennis courts and boat slips with a monthly  fee that will cover the use and upkeep of these amenities and part of the insurance for the unit. There are also a great number of small complexes with 4 units or less or side by side townhomes which offer the same legal details (master deed, common insurance, etc) but do not have professional management and therefore offer a lower monthly fee. These condominiums or townhomes can offer an affordable entry point into the LBI real estate market while many have the "feel" of a single family house! LBI Real Estate Condos on Long Beach Island NJ offer a great ownership option for your summer vacation or a profitable rental investment property.

LBI Real Estate Condos | Condos on Long Beach Island New Jersey | Nathan Colmer

Condominiums and the Long Beach Island Real Estate Market

When looking to buy or sell a condo in the LBI NJ real estate market there are a few important points to remember.

  • Condos and condominiums in the LBI real estate market range in price from under $200,000-$2,000,000!
  • Duplexes can be converted into condos for a cheap and easy entrance into the LBI real estate market.
  • Always remember to account for the added fees of monthly maintenance and common insurance.

Most condos on Long Beach Island will sell for about $350-$450/ sq. foot depending on the condo, the location and the condition of the unit. There are usually about 2-5 condo sales each month in the LBI real estate market and there is usually an inventory of about 50-80 units on the market at any given point.

Types of Condos on Long Beach Island

There are a few styles of condos and townhomes available to buy or rent in the LBI real estate market. Each type of condo offers something different to a buyer so it is important to understand the unique characteristics of each condominium for sale in the Long Beach Island real estate market.

 

 

 

LBI Real Estate Condos | Condos on Long Beach Island New Jersey | Nathan Colmer

Side by Side Townhomes & Condos

Side by Side townhomes on Long Beach Island tend to be the most expensive form of condo ownership. More of a single family home than a condo, side by sides share a common wall with the neighbor next door (they are almost always only 2 units). Most side by sides in the LBI real estate market offer 3-5 bedrooms, 2-3 bathrooms and are usually around 1,500-2,500 sq. feet!

 

 

 

LBI Real Estate Condos | Condos on Long Beach Island New Jersey | Nathan Colmer

Motels Converted to Condos

There are many motels on Long Beach Island that have been converted into small condos. These units typically offer an excellent location (usually within a block of the beach) at an affordable price. Most are 1 or 2 bedroom units and will typically sell under $300,000. One key characteristic of converted motels is they typically winterize in the off season so the water will be shut off to the entire complex (and the individual unit) from roughly the middle of November to the middle of April.

 

 

 

LBI Real Estate Condos | Condos on Long Beach Island New Jersey | Nathan Colmer

Custom Designed Condominium Complexes

These are the traditional condo scenario with many units, common amenities (like a pool or tennis courts) and professional management. Typically the monthly fees are higher in these units as they have to cover more amenities but these units offer resort style living on Long Beach Island.

 

 

 

LBI Real Estate Condos | Condos on Long Beach Island New Jersey | Nathan Colmer

Duplexes Converted to Condos

A duplex is a two or three family home on Long Beach Island. The majority of these homes were built during the 1960's and they mostly offer 2 or 3 bedrooms and 1 bathroom. These are excellent properties to buy as they offer ample space (usually about 800 sq. feet) an open flood plan and an affordable price point.

 

 

 

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

Real Estate Tip

While condominiums offer a lower price point compared to single family homes and duplexes on Long Beach Island, buyers must be aware of the additional ownership costs such as HOA fees when assessing the total cost of the home purchase.

 

LBI Real Estate Condos | Condos on Long Beach Island New Jersey | Nathan Colmer

Interval Ownership and the LBI NJ Real Estate Market

There is a unique form of ownership in the LBI real estate market known as "Interval Ownership". This combines elements of a time share and a condominium ownership. They are similar to a timeshare in that there are several owners who share the use and expense of an individual property and they are similar to a condo in that an individual deed is issued to each owner.

Interval ownership is often confused with condominiums in the LBI real estate market and many buyers incorrectly assume interval ownership are inexpensive condominiums. Buyers should be aware of the extensive differences between the two and understand that interval ownership IS NOT a condominium.

 

 

 

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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