Coastal Woods: The Newest 55+ Condo Community in Southern Ocean County
148 condo and midrise homes built in 2023 in Barnegat — brand-new construction, modern finishes, exterior-inclusive HOA, and elevator access. The newest option in the area, with the cost trade-offs of new construction and Barnegat's 1.95% rate.
Barnegat, NJ148 HomesBuilt 2023HOA ~$390–400/moCondo/Midrise
Community at a Glance
LocationBarnegat Township, Ocean County NJ; near Long Beach Island and GSP Exit 67
Year Built2023 — the newest 55+ condo community in southern Ocean County
Total Homes148 condo and midrise units
Home SizesModern open-concept layouts; 1–2 bedrooms; elevator building access
Price Range$225,000–$400,000
HOA Fee~$390–$400/month; includes exterior maintenance, landscaping, amenities
Age Restriction55+
Tax RateBarnegat Township ~1.95% effective rate
Coastal Woods is the rare new-construction condo in a market dominated by 1990s–2000s product. Built in 2023, it offers what almost no other Ocean County 55+ condo community can: brand-new everything — modern HVAC, current-code construction, elevator accessibility, no deferred maintenance. For buyers who want a low-maintenance, accessible, modern home and don't want to inherit an aging building's problems, Coastal Woods is genuinely differentiated. The HOA at ~$395/month reflects full exterior-inclusive service plus a building that's still establishing its reserve fund.
The New-Construction Reserve Fund Consideration
A 2023-built condo community has a young reserve fund — watch this carefully. New communities start with minimal reserves and build them over time through HOA fees. The advantage: no immediate major repairs needed (everything is new). The risk: if the developer set HOA fees artificially low to attract buyers, fees may rise sharply once the developer turns over control to the residents' association and the true cost of long-term reserves becomes clear. Request the reserve study and the developer-to-resident transition timeline before purchasing.
Barnegat 1.95% Rate at Coastal Woods Price Points
| Unit Value | Gross Tax (1.95%) | After ANCHOR ($1,750) | After Stay NJ | Net Annual Tax |
|---|---|---|---|---|
| $235,000 | $4,587/yr | $2,837/yr | $2,294/yr | $2,294/yr |
| $300,000 | $5,856/yr | $4,106/yr | $2,928/yr | $2,928/yr |
| $350,000 | $6,832/yr | $5,082/yr | $3,416/yr | $3,416/yr |
| $400,000 | $7,808/yr | $6,058/yr | $3,904/yr | $3,904/yr |
10-Year True Cost: $310,000 Purchase
| Cost Category | Annual (Year 1) | 10-Year Estimate |
|---|---|---|
| Mortgage (P&I on $217K @ 6.75%, 30yr) | $16,926 | $169,260 |
| Property Tax (1.95% on $310K) | $5,022 | $52,100 est. |
| HOA Fee ($395/mo — incl. exterior) | $4,740 | $52,100 est. |
| Condo Insurance (interior only) | $850 | $8,500 est. |
| Interior Maintenance (0.3% — all new) | $930 | $9,300 est. |
| ANCHOR Benefit | –$1,750 | –$17,500 |
| Stay NJ (50% of gross tax $2,511) | –$2,511 | –$25,110 est. |
| Net 10-Year Cost of Ownership | — | ~$248,650 |
Interior maintenance budgeted at just 0.3% reflecting 2023 construction. Note the HOA assumption holds fees flat — budget for potential increases as the reserve fund matures.
Related Pages
Four Seasons at Mirage (Barnegat, single-family) →Venue at Lighthouse Station (Barnegat, newer SF) →Barnegat Tax Rate →Ocean County Hub →Get Coastal Woods Data
Reserve fund status, developer transition timeline, HOA fee history since 2023, and current available units in this new community.
Get Expert Help →