Nathan Colmer | The Van Dyk Group
C: 609.290.4293 | O: 609.492.1511
There are a variety of different property types in the Long Beach Island real estate market. Each property type has special aspects that can greatly impact your investment on LBI. Browse each type of property for sale on Long Beach Island to learn about the differences of each!
Understanding the different property types on Long Beach Island New Jersey is an essential step to buying a home. There are some important differences when it comes to financing, construction and future use. For example, duplexes generally have tighter restrictions for mortgages in the LBI real estate market and can carry a higher interest rate.
Single family homes make up the largest percentage of the LBI real estate market. In any given month, there are about 25-35 transactions with an average price of around $1,000,000. This is the most active area of the LBI real estate market and accounts for the majority of monthly sales on Long Beach Island. Single family home options range from traditional Cape Cod style homes to magnificent new construction.
The LBI real estate market has several different types of condo ownership. There are large, professionally managed complexes, smaller converted motels and 2 unit condo complexes that share a common lot. Condos are perhaps the most diverse segment of the LBI real estate market with options ranging in size, style and price. It is important to understand the by-laws of any condo association and be aware of what is and what is not covered in any monthly fee.
Duplexes on LBI can offer a great investment opportunity generating substantial rental income. They can also offer a way to buy a home on LBI, use one floor personally and rent the other flood to cover some of the costs of ownership! Duplexes offer the unique ability to invest in a rental property or help to cover ownership costs while generating income simultaneously. Lending options can be different for two family homes, so it is important to speak with your lender first!
Building a new home on Long Beach Island is the best investment and use of your money...but first you need a place to build! There are some vacant parcels of land left on LBI, but most new construction take way from buying a knock down. Building a new home can be one of the best investments in the real estate market on Long Beach Island. Building a new home is an investment of time, but should realize instant equity in the property.
Learn about the waterfront real estate market on Long Beach Island. You can search oceanfront, bayfront and lagoon front homes for sale on LBI! Offering the best views on LBI, the waterfront real estate market offers the most exclusive locations on Long Beach Island but it does carry a higher price tag and added restrictions when building a new house
Interval Ownership is a unique form of ownership that blends aspects of condo ownership with a timeshare. This option allows for an affordable purchase in the LBI real estate market however re-sale can be difficult. Similar to a timeshare and a condo, interval ownership allows for an affordable option to own a home on Long Beach Island New Jersey!
Commercial real estate on Long Beach Island is one of the slowest areas of the LBI real estate market however commercial real estate can prove to be some of the most lucrative when purchased correctly! The commercial real estate market on LBI does not see a high number of sales, but these investment properties can be an excellent investment. Price, terms and location are of the utmost importance in the commercial market.