Joe Pop’s Shore Bar in Ship Bottom on Long Beach Island will have an outdoor dining area with a tiki bar this summer. The plans of the outdoor area include an eight foot-high bamboo fence to surround it in order to help protect neighbors from noise, lighting, and smoke. They will be open for business at 11 am and everybody must be out by 10 pm.
The owners think it is an opportunity to turn a less desirable area into something nice for the community and tourists. It is planned that the area will create a family oriented place by the beach to take the kids to get a quick bite to eat and relax for while.
That news got me to think about…
The phrase location, location, location and how it emphasizes the importance of resale value and the ability to appeal to the largest number of homebuyers possible.
Long Beach Island is a year round community of about 10,000 people but during the summer, population increases to over 100,000 with part-time residents and tourists.
Long Beach Island is a barrier island and all the homes are no further than blocks away from either the bay or the ocean. Even in a resort community, there are still better locations than others. Besides the obvious, oceanfront and bayfront homes, which are the most desirable and therefore, sell for the most money; there are some locations that have higher resale value. Towns on the north end of Long Beach Island have larger standard lot sizes so, of course, sell for more money.
When residential homes are next to commercial buildings that have late hours, it is inevitable that there is going to be a lot more traffic on the street, noise, late night car noise and pedestrians on the street loitering and therefore, usually sell at a lower price.
When most people buy a home, they don’t visualize that home to be the only home they will ever own. In the future, they know that they will want a different home, maybe a larger home or one in a different neighborhood. That’s why, location is so important if you plan on selling your home someday in the future.
If you know you are definitely going to re-sell your home then you should buy your home with location, location, location in mind. You need to consider resale factors when buying your initial home.
Long Beach Island is 18 miles long and Long Beach Boulevard runs down the length of the island and homes are either on the bay-side (west of Long Beach Blvd.) or the ocean-side (east of Long Beach Blvd.). Ocean-side homes have higher sale prices than bay-side homes. Homes with a view of either the bay or ocean demand higher prices than homes near commercial lots or the boulevard.
The homes next to commercial properties on Long Beach Boulevard will sell for lower prices than homes closer to the beach. Most homes on LBI are second homes and used for vacations and investment. Although, it may be undesirable to live year round in a home next to a commercial establishment, it could provide a nice rental income. It also may be a way to be able to afford a house at the beach.
