The significance of location in real estate cannot be overstated, whether one is considering a primary residence, vacation home, or investment property. A vacation home offers the unique advantage of personal enjoyment coupled with the potential for generating rental income. Prime locations and high-quality properties command higher weekly rents.
Long Beach Island (LBI) is a highly sought-after destination known for its beautiful beaches, engaging activities, excellent restaurants, and exceptional shopping options. Alisa Molbert Freidberg, a Realtor Associate® with Berkshire Hathaway HomeServices Zack Shore, REALTORS® in Ship Bottom, remarked that "Long Beach Island is a true family-oriented community."
According to Ms. Freidberg, "In 2020, the average sales price on LBI was $1.192 million. By the end of 2024, this figure had increased to $2.130 million, marking a significant rise. Investing in these properties allows you to witness equity growth, as prices are projected to continue rising."
For rental properties, Ms. Molbert stated, "Rates for bayfront to beachfront homes and everything in between can range from $2,500 to $45,000 weekly, depending on the date, location, and property specifics." People began renting for this upcoming summer season in September, 2024.
Renting during the off-season is also popular, offering quieter beaches and warm waters, along with various events such as LBI Kite Festival and Chowder Cook Off in the fall. Restaurants remain open with easier access to reservations, and pets are allowed on the beach during the off-season, enabling guests to bring their dogs. Holiday rentals during Thanksgiving, Christmas, New Year's, and Easter provide a distinctive way to celebrate.
Prospective buyers interested in an LBI rental investment should review a property's prior rental history or compare similar properties to estimate potential weekly rental income. Location is crucial; for instance, "Beach Haven on the southern side of the island is particularly popular with families due to attractions like Fantasy Island and Bay Village for shopping and dining."
"On the northern side, Surf City is favored for its proximity to restaurants and shops accessible by walking or biking," she continued. The farther north, the quieter it becomes, offering a tranquil retreat for those seeking a more restful vacation.
Given the low inventory on the island, Ms. Freidberg advises prospective buyers to act swiftly if they wish to secure a property for the upcoming summer. Even for those not considering a rental investment, purchasing an LBI shore house presents notable financial benefits.
Whether you are looking for a wonderful summer vacation home to enjoy with your family or a revenue generating LBI property, the data shows that it can be great investment to add to your portfolio.
Alisa is not only an award winning LBI Realtor, but she is also a long-time resident of Long Beach Island. If you are curious about options and are looking to own a shore house, go to LongBeachIslandListings.com and reach out to Alisa at AMolbert@ZackShore.com.
"Long Beach Island is a true family-oriented community."