The value of a new home in the LBI real estate market is very high and it is for this reason that building a new home on Long Beach Island may be the best investment of one’s money. Apart from the enjoyment of having a brand new house at the beach, there are some additional advantages such as better heating and cooling costs, lower flood insurance (as the house can be built to current Base Flood Elevations and FEMA guidelines) and an almost automatic realization of positive equity in the LBI real estate market.
Building a new home on Long Beach Island sounds like an intimidating prospect, especially when the majority of LBI homeowners are about 2 hours away, but the process can be very rewarding. When building a new home on Long Beach Island, there are a few simple steps to make the process and the project more successful:
A surprisingly expensive portion of building a new home can be the design and planning phase. By using a stock floor plan and customizing it to your taste, you can save a substantial amount of money. Most builders and architects have floor plans that they have used in past projects which allows to you save a lot of money by using them! In addition, this allows you to see a finished project and get an idea of what your new home would look like.
Long Beach Island NJ is divided into 6 separate municipalities each with its own separate building and zoning laws so prior to committing to any construction project on LBI it is best to consult with the town in which you intend to build. There are a few rules that will generally apply throughout LBI however such as:
Most of the new construction on Long Beach Island takes place when an older home, such as a Cape Cod or a storm damaged home, is purchased and demolished to make way for the new house. Demolition costs will vary greatly depending on the size and style of the house but demolition will typically cost around $8,000-$10,000.
There are a few elements that prevail in almost every new construction on Long Beach Island. They are:
Reversed living is a concept somewhat unique to Long Beach Island. In essence, the house is upside down with the majority of bedrooms being located on the first floor and living space being located on the top floor. The purpose for this layout, is to capitalize on the ocean in Bay views that exist for most homes in the LBI real estate market. While reversed living may not make sense in all cases, if you are buying a home in close proximity to the water, and open concept will allow you to have breathtaking views from almost every room in the house. The open floor plan with lots of decks and the right foundation can help to make a nice enjoyable home in the LBI real estate market. Missing some or all of these elements can make selling your home on Long Beach Island very difficult!
When looking to invest in the LBI real estate market as an investment, there are a few important points to consider:
The old adage of location, location, location cannot be over emphasized when looking at Building a Spec House in the LBI NJ Real Estate Market. While there are several locations (bayfront, bayside, oceanside, oceanblock and oceanfront), generally speaking the oceanside and oceanblock locations will see the most activity as they fit the widest demographic of home buyers
