Living on the beach is a dream. Early morning walks on the beach, weekends surfing, playing in the sand, and sunbathing in the afternoons are luxuries. Beach homes may seem unattainable for many people, but in reality, many people can turn their dream into reality. Keep reading for tips on affording and purchasing a beachfront property.
Hire a Realtor
Buyers looking for affordable beachfront properties should consider hiring a real estate professional. A real estate agent’s job is to help potential buyers find and show them homes. The agent will also walk buyers through the purchase process. Buyers should choose an agent familiar with the beachfront area where they are searching, and the agent should have experience in both selling and buying waterfront properties.
Distance from Water
Many people buying a beach house consider the distance to the water the most important factor in decision-making. Proximity to the water is desirable for convenience and resale value, but it also increases insurance costs. Many people, however, decide that the added expense and risk are worth the expense.
Carefully Inspect a Property’s Construction and Foundation
A coastal home needs to be as weather-proof as possible because hurricanes and storms will threaten the coasts. Severe weather can destroy an investment or vacation property. If the area is in a high flood risk area or has a potential for a storm surge, consider buying a home on stilts. Concrete and wood are the best materials to withstand heavy storms.
Check the Roof
Because of the weather coastal areas experience, the roof on a beach house may need to be replaced more often than on a typical house. A new roof can cost up to $25,000, so it is best to buy a beach house with a newer roof made of high-end materials. Metal roofs are the most wind-resistant.
Consider a Property Management Company
If the beach house isn’t for a primary residence, owners may need a property management service to care for the home when they are away. A management service can coordinate pest control services, lease agreements, and maintenance issues. Fees for a management company can be expensive, so homeowners should consider this when budgeting for a home.
Potential for Rental Income
If the buyer plans to rent out the beach house, it is essential to determine whether the home will be a good return on the investment. Monthly fees, initial costs, and maintenance fees that are too high may keep a beach house from being an excellent short-term investment. Many experts recommend buying a beach house with more than one bedroom since they tend to be rented out more easily and at a higher price. Research nearby rentals to see what the competition looks like and ensure the rates will work for the budget.
Owning a beach house can increase physical and mental wellness, providing a relaxing place to come home. It is relaxing and luxurious to live on the beach. It has a high property value that only appreciates over time. There are endless things to do on the beach. Owners who do not plan to live in their homes can earn passive income by renting out the beach house to other vacationers. After close examination, a beach home is more than just a dream. It is a real possibility for many people.
