Buying a vacation home at the Jersey shore may seem out of reach for most people. Typical beach homes range in the $400,000 range and up. However it is possible to purchase something much less and and actually keep the price under $200,000. Here are 3 ways to purchase a NJ shore beach home for less than $200,000.
Choose a location further from the beach.
Many of our shore town have areas that are further from the beach. These sections typically have more year round residents and more affordable prices. For example, I recently listed this ranch home in Ventnor Heights that was raised and renovated and is currently priced at $190,000. Click here for details on the house.
201 N Somerset Ave, Ventnor, NJ
Choose An Up And Coming Area
Not all shore towns are priced the same and if you’re looking to spend less choose an up and coming area like Atlantic City. Prices for many homes and condos are under $200,000. There are some great locations in Atlantic City and some not so great locations. Choose a local agent who can help you find the right location and home.
Look For A Home Off Shore
If you’re willing to take a short drive you can get more house for the money off shore. Communities like Somers Point are just a 5 minute drive into Ocean City. Absecon is just 5 minutes from Atlantic City and 10 minutes to Brigantine. And if you’re will to drive a little further communities like Egg Harbor Township, Linwood, Northfield and Galloway are within a 20 minute drive to the beaches.
If you’re considering purchasing a shore home or investment please contact us for a free consultation. No matter what your budget is we’re here to help.
I have several clients investing in real estate in this market. Prices are low inventory is high and it’s a great market to buy and hold. I also have investors looking to flip properties. I’ve put together some interesting statistics that should be helpful for people looking to invest in the Atlantic County, NJ real estate market.
Market statistics as of 12/22/16 For Atlantic County NJ
||Number of sales In 2016 Year to Date
||# of homes for sale
|Egg Harbor Twp
Sunset, Port Republic, NJ
This first chart shows some of the mainland areas, the number of homes sold and % of homes that sold. The highest % sold was Pleasantville at 15.43%. Pleasantville was followed by Northfield, Egg Harbor Township and Somers Point.
It’s also interesting to look at the number of sales in certain price ranges to see what price ranges have been selling the most. Homes in the $150,000-$200,000 are selling most followed by $200,000-$250,000.
||Number of sales by price point
*Includes these areas: Galloway, Absecon, Port Republic, Egg Harbor Twp,
Hamilton Twp, Somers Point, Northfield, Linwood
I also get asked frequently how long it’s taking to sell homes so I broke that out based on the number of bedrooms. Three bedroom homes are selling faster. This is most likely due to their lower price point.
||Average 71 days on market
||average 91 days on market
Now is a great time to buy, sell and invest in real estate in Atlantic County. Contact us for a free consultation to help you evaluate your opportunities in today’s market. Matt