New Construction in the Beach Haven West Real Estate Market
Beach Haven West Real Estate
Beach Haven West sustained a direct impact from Hurricane Sandy at the end of October 2012. Since then, the area has worked hard to recover and great strides have been made. While there are still many homeowners dealing with the aftermath of Hurricane Sandy, there are some excellent opportunities to take part in the recovery of Beach Haven West. One of the most noticeable and beneficial impact of the storm is the amount of new construction taking place in the Beach Haven West real estate market. New construction tends to have a positive effect on home values and willingness to make a significant investment helps to improve buyer confidence. Building a new home in the Beach Haven West real estate market can be a smart investment that generates instant equity in the project.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
www.beachhavenwestrealestate.com | www.BuyLBI.com
Click here to search all homes for sale in Beach Haven West
Building a New Home in the Beach Haven West Real Estate Market
Building a new home is an investment of both time and money, however it can offer tremendous rewards. There are a few core elements any home buyer were homeowner needs to understand prior to taking on such a project. They are:
- Selecting the right location with the right property attributes
- Selecting the right construction method and determining a budget
- Obtaining financing for the project
The old adage of location, location, location is certainly true in the Beach Haven West real estate market. Beach Haven West is a large and diverse community with advantages and disadvantages present in each property location. For example, a home further back in Beach Haven West will have a longer boat ride through the lagoons to reach the open bay. That said, a home that is deeper in Beach Haven West is typically closer to the main roads thereby shortening the distance one must drive to reach their home. It is also important to make sure a boat will fit under the bridges in Beach Haven West so as to avoid additional travel time. When buying a property to build in Beach Haven West, it is also important to assess the health of the bulkhead.
Selecting the right construction method in determining a budget is of course important step. There are two main options for building a new home in Beach Haven West. The first is the traditional stick built home. This involves hiring a builder and essentially starting from scratch to build a new home. This allows for greater flexibility in the design and construction of a home. The second most commonly used method is a modular construction. Modular construction involves bringing individual units which are built off-site together and assembling them on the property. Modular homes may offer quicker construction timelines at a lower price, however they can be prone to cracking at the seams of each unit. While not a structural problem, this is an aesthetic concern that may bother people. The cost of building a home will vary greatly depending on the different styles of construction and the finishing touches. A good ballpark number to use is between $150 and $180 per square foot.
Obtaining financing can be difficult but with the right resources and contacts is possible to find a lender who will offer favorable terms. Construction loans will typically have a higher interest rate and will be interest only loans. These loan products will charge interest on the money that is used for the construction and will generally roll over into a conventional loan once the project is complete. There are different loans for primary and secondary homes so it is important to understand your options prior to building a new home in the Beach Haven West real estate market.
For more information about new construction, home prices, or building a new home in the Beach Haven West real estate market contact the Beach Haven West Real Estate Group and we respond right away.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
www.beachhavenwestrealestate.com | www.BuyLBI.com
Click here to search all homes for sale in Beach Haven West