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

Vacant Land in the LBI Real Estate Market

Nathan Colmer | The Van Dyk Group

C: 609.290.4293 | O: 609.492.1511

Vacant Land in the LBI Real Estate Market

Learn about vacant land on LBI, Long Beach Island tear downs and building new construction on Long Beach Island New Jersey. Vacant land and tear downs on LBI offer some of the best values in the LBI NJ real estate market.

Vacant Land LBI | Long Beach Island Tear Downs | Building on Long Beach Island New Jersey

LBI Real Estate Vacant Land and Tear Downs on Long Beach Island NJ

 

Vacant Land LBI | Long Beach Island Tear Downs | Building on Long Beach Island New Jersey

Prior to Hurricane Sandy, Long Beach Island had few empty parcels of land available. Major development on LBI began in the 1950's and 1960's with new homes being built continually from that time to the present day. Hurricane Sandy has changed the dynamic of vacant land and tear downs thanks to storm damaged homes in the LBI real estate market. Damage from Hurricane Sandy has prompted some homeowners to demolished the damaged structure and sell the property for land value. There are also many storm damaged homes for sale that are priced at land value. These properties have opened up many new buying opportunities in the LBI real estate market for those looking for vacant land and tear downs on Long Beach Island.

Vacant Land LBI | Long Beach Island Tear Downs | Building on Long Beach Island New Jersey

Vacant Land in the LBI Real Estate Market on Long Beach Island NJ

 

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 (bay front and oceanfront must adhere to CAFRA) and local laws. 

Building guidelines will vary from town to town. For example, in Long Beach Township 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 then be doubled to allow for the second floor. Note that decks count towards the living space. Beach Haven stipulates that the total living space cannot exceed 50% of the lot size. Therefore if you have a 5,000 sq. foot lot, the largest house that can be built is 2,500 sq. feet.

It is important to point out that the above equations would result in a perfect box with no architectural style. Typically, cut-ins, pitched roofs, etc will deduct 5%-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 will cost about $175-$200/ 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 $350,000-$400,000 depending on the house plus the cost of the land.

Vacant Land and Subdivisions in the LBI NJ Real Estate Market

Vacant land on Long Beach Island is an extreme rarity these days. Most of LBI has been developed and the few empty parcels of land are either attached to other properties (therefore requiring subdivision) or protected preserves.

In most towns, a new lot (after subdivision) must be 60 feet wide by 100 feet deep or larger (a 60x100 lot). There are certain exceptions to this rule. For example, if a neighborhood consists of lots mostly smaller than a 60x100 lot, a subdivision can be considered "conforming" if the new lot size matches the majority of the surrounding lots. There are many rules governing subdivision on Long Beach Island and it is best to speak to an attorney or engineer who can help you understand them.

On the South end of LBI especially, there are large swaths of land that have been left in their natural state but these are protected by the state and beyond the reach of development. Therefore, new construction typically is realized by tearing down an older house and building new. LBI Real Estate Vacant Land and Tear Downs on Long Beach Island NJ can offer exceptional opportunities for those looking to build a new home on Long Beach Island.

 

 

 

 

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
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

Be sure to check for any restrictions or limitations when looking at vacant land and tear down opportunities. While building a new home can be one of the best investments in the LBI real estate market, it is important to have the right plan in place for your building location.

 

Vacant Land LBI | Long Beach Island Tear Downs | Building on Long Beach Island New Jersey

Vacant Land and Tear Downs in the LBI 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