How to Avoid Overspending in the Long Beach Island Real Estate Market
Buying a Home in the Long Beach Island Real Estate Market
Home prices in the Long Beach Island real estate market have dramatically increased since 2020. While part of this increase is due to COVID, the LBI real estate market was already very strong and had been appreciating for several years. In such a climate, buyers should understand how to avoid overspending in the Long Beach Island real estate market. The best way to do this is to create a plan and stick to it! Any buyer’s real estate plan should include:
- A budget that is realistic for you and for the LBI real estate market
- Extra money allocated for repairs and expenses
- A strategy to shop different lenders and find the best interest rate available
- Focus on what determines value in the LBI real estate market
In the wake of COVID, many buyers have ignored their plans and bought the first home that they were able to. This is dangerous in both the short and the long term. Simply put, the best way to avoid overspending is to stick to the plan!
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
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