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.
Single-family homes of the most common property type on Long Beach Island. Therefore, it is not surprising that this is the most common property type sold in the LBI real estate market. What is interesting to note, is that single-family homes come in a wide variety of price ranges and styles, all of which are appealing to a buyer. There are large elegant estates on the water as well as functional raised ranch style homes, large contemporary new construction and traditional Cape Cod beach homes. All of these homes offer something different to a buyer in the LBI real estate market.
The LBI real estate market has been very active and nowhere is this more evident than in the sale of single family homes on Long Beach Island NJ. While there are many single family homes that sell for $1,000,000, $2,000,000 or more, there are also many affordable single family homes in the LBI NJ Real Estate Market. For those looking to invest in the LBI real estate market, it is important to look at the location of the property (as this is something that cannot be changed), the condition of the property and the additional costs of ownership (such as taxes and flood insurance). A buyer should ALWAYS have a home inspection performed to make sure that the property is safe to occupy and to uncover any damage that may have been caused by Hurricane Sandy.
The LBI real estate market has a number of different types of homes, each with their own unique attributes. A few of the more common types of single family homes in the LBI real estate market are:
This is the quintessential beach house usually consisting of 3-4 bedrooms and a manageable size/price point. Some of these homes can have issues with flood insurance so be sure to pay attention to the ownership costs!
These simple yet efficient beach houses make for excellent and affordable second homes with a large open floor plan and a favorable flood elevation high and dry on pilings.
This is the standard new construction style home usually with a reversed living floor plan and great views of the ocean or bay (or both). This is usually the most expensive category of single family homes in the LBI real estate market
These homes usually date from the mid 19th century to the early 20th century. They are full of charm and a by-gone era.
The LBI real estate market is, by most people’s definition, a luxury home market as the average price of a single family home is around $1,000,000. It is important to remember that the term “luxury” is objective and depends greatly on the perception of the individual. For some, simply owning a home on LBI means they have entered the luxury home market while for others, anything short of a new constructions on the oceanfront in Loveladies are not considered to be Luxury Homes on Long Beach Island NJ. There is no “right” or “wrong” definition of what makes a Luxury Homes on Long Beach Island NJ and in truth, assigning such an ambiguous term to any house can be folly.
When looking to purchase a home in the LBI real estate market, it is important to understand the dynamics of the market. Long Beach Island shows great similarity to the national trends in the second home market. Considering most buyers in the second home market are looking for properties on or near the water, it is no surprise that the LBI real estate market has seen strong activity in recent years. Even with the impact of Hurricane Sandy, investment in Long Beach Island has not waned, and in fact has proved increased dramatically.