Buying a home is both a huge step and an exciting adventure toward your future. A house becomes so much more once you or your family move in and give it warmth and charm.
Whether it is a vacation home to make memories in or a permanent residence to build a family or spend your retirement years, the homes on Long Beach Island offer a bit of everything. You will live steps from the beach or shops and have access to some of the best fishing, watersports, entertainment, shopping, and views.
Get insider tips and ideas from Long Beach Island natives and realtors with decades of experience. We help buyers navigate the Long Beach Island real estate market to get the home of their dreams.
Are you looking to purchase a second home (such as for summer vacations), a retirement home, a primary residence, or buy an investment property?
Get a head start on your home purchase with a few tips to help you get started. From initial scouting to the final sale, learn what to consider when buying a home on LBI–whether you are interested in purchasing a single family home, buying a condo, investing in commercial real estate, or tearing down an existing property and building a new house from the ground up.
Start your home search the right way on Long Beach Island with this guide. Check out the most important things to consider when buying a home on LBI, NJ.
Which Type of Home Should You Buy?
Before buying a home, it’s important to consider the type of home you’d like to live in and what makes the most sense for you or your family. T
here are a variety of home options on LBI, including condos, beach homes, smaller retirement home, huge houses with all the amenities and frills, investment properties to rent out, lots for building a new home, or even a new home build from a reputable builder on the island.
While it might seem like one of the simplest things to consider when buying a home on LBI, there are many different home options and it’s easy to get lost in deciding which one to buy.
Consider some of the most popular home options:
- New Construction
- Teardown Lots
- Existing Homes
- Summer Vacation Home
- Retirement Home
If you have very specific home needs, such as a required number of rooms, a family member with a disability, or the desire to avoid home maintenance, this decision can be made much easier. However, most people tend to want a beach home of some sort and are willing to consider many options within their price range.
If you are unsure which home type is best for your situation, talk to a real estate agent and get their input on what is popular in the market and which home suits you best.
Which Area of LBI Is Right for You?
Each LBI town has a unique set of offerings. Our laid-back Long Beach Island culture continues to win the hearts of residents and tourists alike. LBI provides you with endless opportunities from buying existing homes and land, initiating new construction, and renovating an existing home into your updated dream home.
Are you interested in living right by the ocean to so swimming, tanning, enjoy watersports, or spend most of your time by the beach?
Does beach living sound great, but you would like to be a bit closer to shops, restaurants, amusement parks, and other things to do on the island?
These are the considerations to make before selecting an area of the neighborhood on the island to buy a home. Long Beach Island has a few popular neighborhoods that offer unique island living, including:
- Barnegat Light
- High Bar Harbor
- Harvey Cedars
- North Beach
- Surf City
- Ship Bottom
- Brant Beach
- Beach Haven Crest
- Brighton Beach
- Peahala Park
- Beach Haven Park
- Haven Beach
- The Dunes
- Beach Haven Terrace
- Spray Beach
- North Beach Haven
- Beach Haven
With so many incredible options, it can be hard to know where to start. If you are considering a move to a waterfront home, let us help. Where to live is one of the top things to consider when buying a home on LBI, and a bit of driving around the island can help influence your decision for the better–especially with the help of an experienced realtor.
From oceanfront to gorgeous bays and lagoons, work with an experienced Long Beach Island real estate agent that can show you the best properties in the best locations.
Home Protections & Flood Insurance
If you do not do your research and consider all options for flood insurance and flooding before making an LBI real estate purchase, it could prove to be a very costly mistake.
Although most of Long Beach Island is within an “A” flood zone, which tends to see lower insurance rates and less complex building restrictions, there are also a few “V” flood zones on the island which have much stricter building requirements and higher price rates.
These more flood-prone areas are typically oceanfront and bayfront properties, so the prevalence of rain, hurricanes, and other flood causing weather is one of the things to consider when buying a home on LBI.
Flood plain maps have been developed for Long Beach Island, New Jersey, and are required by The Federal Emergency Management Agency (FEMA). These maps identify flood zones and the predicted elevations that could be reached or exceeded in a 100-year period, alerting homeowners and residents of Long Beach Island to the risk of flooding.
Since flood insurance does cost money it is a factor that must be considered when looking to buy a home on Long Beach Island. However, not all flood insurance is the same or will cost the same. The flood elevation ultimately determines the cost of flood insurance.
If you decided to purchase a property with a mortgage, then you are also required to obtain flood insurance for your home. If there is no mortgage, then it is up to the homeowner to decide if purchasing flood insurance is worth the additional cost.
For existing homes, the current owner will typically have a Flood Elevation Certificate, which details the height of the home in relation to the Base Flood Elevation (BFE). Homes higher than the base flood elevation have lower flood insurance premiums, due to being at far less risk of flood damage. To mitigate the cost of flood insurance, you may want to buy a home on a part of the island with a slightly higher elevation.
Making the Purchase
Another thing to consider when buying a home on LBI is whether you will be paying in cash or getting a mortgage. While most homeowners choose to get a mortgage to pay for their home, some do elect to pay cash which has its own benefits.
If you decide to get a mortgage, you will need to deal with shopping around for mortgage rates, potentially contacting local builders for new home construction, getting a home inspection, choosing home and flood insurance, and more in order to prepare to close on a home and begin living there.
If you decide to purchase a vacation home, you may want to look into what you will do with the home when you are not there–whether you decide to rent it out, leave it empty, or anything else.
Before purchasing a home, you should have the latest market information and real estate buying advice. From mortgage rates to insurance and timing your credit or purchasing power, there are a lot of things to consider when buying a home on LBI.
Get comprehensive real estate guidance from a local LBI expert and learn about each step of the buying process, from initial open houses and viewings, all the way to the closing and move-in day.
A little guidance can help you save time and money and allows you to know all the facts about living on LBI and moving into a home on the island before you make a purchase. There are many things to consider that must be looked at before purchasing, and our team real estate experts would be more than happy to help you along the way.
Are You Buying for Now or Buying for Life?
Long Beach Island homes are among the most sought-after properties in New Jersey, whether you are a second home buyer or an investor. Historically, real estate on LBI has proven to be an excellent investment.
Prior to deciding on a property, it can be helpful to narrow down the type of home and time frame that you intend to reside in the space. Length of homestay and purchase is maybe the simplest of the things to consider when buying a home on LBI.
Think about whether you are looking for a summer home, primary residence, or an investment property, and we can help you in making an informed decision before you decide on a significant financial investment.
A small summer vacation home may make more sense if you don’t plan to be on LBI often, whereas a larger home with amenities is more appropriate if you are moving a large family and require a permanent residence.
With gorgeous luxury homes, laid back living, and views and activities that everyone will enjoy, Long Beach Island is the perfect place to live–whether you plan to spend the rest of your retirement years there or only stay for summer vacations.
When purchasing a new home, you deserve to have the latest market information and real estate buying advice. We provide comprehensive real estate guidance to help you save time and money, in addition to making the home buying experience enjoyable, as opposed to the stress that many homebuyers feel.
We ensure you time your purchase right and research every aspect of homebuying for you, ensuring you buy a great property at a great price.
Get Started Buying A Home On LBI
If you are someone who enjoys the finer things in life, then we highly recommend looking into the Long Beach Island real estate market. While there are many things to consider when buying a home on LBI, an experienced agent can simplify the buying process for you and walk you through these considerations.
If you would like to create new family memories, have fun, walk along gorgeous beaches, enjoy boating, fishing, fine dining or just get away from the everyday hustle and bustle, then we have everything you could ask for here on Long Beach Island.
Contact LBI Living now at 609) 382-9966 or online to speak to a realtor and find the home of your dreams on LBI.