Once you have selected the right house to buy, you have to take into account what the additional fees will be with the purchase and or sale of real estate on Long Beach Island NJ. There are different costs associated with buyers and sellers in the LBI real estate market and it is important to understand what these costs are BEFORE you enter into a contract. Closing costs will vary greatly depending on the deal and the individual but the information below should help give you a general outline of what to expect. Note that while I provide an estimate of the cost associated with each line item, the actual cost will vary depending on market conditions and who you decide to hire.
Single family homes on Long Beach Island usually consist of a single dwelling on a lot. This is the most common form of ownership in the LBI real estate market and will usually be one of the strongest investments in the area.
Multi-family homes on LBI are most commonly a duplex but there are some three and four units as well. The most common duplex is the "up and down" duplex where there are two identical or very similar apartments in one building on one lot.
Condos in the LBI real estate market can be tricky to determine There are options ranging from units in large professionally managed complexes to the "side by side" condo where the complex consists of only two units on one lot. Many buyers mistake this for a single family home-it is not!
There are still a number of vacant lots for sale in the Long Beach Island real estate market that are ripe for re-development. It is important to understand the different zoning laws and regulations for each town so you can know what you area able to build before making an offer.
Commercial real estate is one of the slower areas of the LBI real estate market. Most of the commercial real estate is located on Long Beach Blvd but there are a few commercial properties on Central Ave in Ship Bottom and some areas of Barnegat Light.
Interval ownership is a unique hybrid form of ownership that combines elements of condo ownership and a timeshare. Essentially it is the group ownership of a property that has a scheduled division of time. These properties tend to be expensive to own and generally are not good investments.
There are a number of boat slips available for purchase in the LBI real estate market. This is generally a condo form of ownership that allows a buyer to own a boat slip rather than rent.