Are you considering buying a second home? A beachfront condo might be the right choice for you! There are a lot of factors to consider before choosing to invest in a second property. It is important to note that buying a condo near the beach can bring an excellent return on investment, a reliable income stream, and access to a delightful vacation spot. Additionally, many beach house investors claim that their rental income for the colder half of the year covers their expenses for the entire year. That effectively lets them live in the house for free during the non-peak season. For these reasons and many more, Monmouth County condos for sale are a great investment. Learn more here about Monmouth county, condominiums vs. single-family home benefits, and why you should consider The Lofts Pier Village for your next investment.
Why Monmouth County?
Monmouth County is one of the largest counties in New Jersey, offering a unique landscape of modern, metropolitan living in a laid-back beach setting. There are many types of properties for purchase in Monmouth County, but condominiums are the most popular. Over the past year, the available properties for rent and purchase have decreased by 50%. This is likely due to the increasing popularity of the location. In other words, the demand for property in Monmouth County is very high.
As a result of this influx of prospective residents, there are many new flourishing condominium developments and communities within the county. Many of these types of communities in Monmouth County offer the benefit of beachfront living. Because of the proximity to the water and all the recreation and beauty that it offers, this location is hard to beat and many new homeowners are flocking to this part of the state.
Condominiums vs. Single-family Homes
Condos and single-family homes offer very different benefits. The setting, community amenities, and lifestyle offerings vary immensely.
Single-family home benefits
Single-family homes are typically situated on their own lots, and often provide owners with the most freedom and privacy. The square footage of these homes ranges from small to mansion-size, but the defining feature of this style of home is the freestanding structure. In other words, there are no neighbors with whom you will share walls and space. Additionally, these homes appeal to people who want large yards for their children to play in and outdoor space, such as a detached garage or workshop, to pursue their hobbies. Single-family homeownership is also the right call for people who do not mind yard work or want to plant and tend to a large garden.
It is also important to note, however, that single-family homes do not offer as many amenities as condominium living. Additionally, you as the homeowner are 100% in charge of the upkeep and maintenance of your property.
Benefits of Condominium Living
On the other hand, condos offer many extra benefits. Typically, these properties have unique amenities, including swimming pools, fitness clubs, or tennis courts. This type of property also allows the homeowner to engage in the community more frequently. Your neighbors are very close and therefore, new friendships and relationships are easily built with those around you. Finally, condos typically have property management. This means that you don’t have to worry about any upkeep in your home and there is likely always someone on hand to help you fix any issue.
It is important to note that these settings offer slightly less privacy and general quiet than a single-family home. Ultimately, the decision to buy a condo, or opt for a single-family home, usually comes down to the following three considerations.
Financial Benefits of Monmouth County Condominiums
Many variables determine whether a beachfront condominium is right for you. In other words, you’ll want to consider if the style of living and the property itself is worth your financial investment. Consider the potential tax savings and the opportunities the location presents for future growth. Especially, consider whether you can rent the property out to others. Additionally, confirm that the property offers the right community amenities, such as restaurants, shopping centers, beaches, and more, to make it worth your while.
At The Lofts Pier Village, for example, the following financial benefits are hard to overlook.
- 30-year tax abatement savings
- Location in an opportunity zone
- Option to rent seasonally or yearly
- Rapid expansion and development in Long Branch, NJ
- Prime location with unbeatable views
Consider The Lofts Pier Village in Monmouth County, NJ
At The Lofts Pier Village, the Jersey Shore is yours. For people looking for a little luxury by the beach, the property features everything you want and more. Your ideal seaside lifestyle can come together in one unbeatable setting. Our modern “City by the Sea” offers a lifestyle unlike anywhere else in New Jersey. These elegant Monmouth County condos for sale, with a fresh wave of fine dining and shopping, and the serenity of the ocean create the perfect balance. Learn more about contemporary and blissfully carefree living on the waterfront, every season of the year.