The idea of owning a beachfront property is a dream for many. The idea of waking up to the sound of the waves and knowing the beach is only moments away puts the thought of living in a beachfront home at the forefront of many people's minds. Living on the water can provide therapeutic benefits, incredible views, and prompt a better night's sleep. With all the positives, it can be easy to overlook what goes into the process of buying a beachfront property. Whether you are purchasing this home for yourself or doing so as an investment property to earn income from, it is essential to keep a few things in mind before making the purchase.
Set your budget
What mortgage can you afford? Will you live here year-round or rent it out and collect income from the rent? What about utility costs, taxes, or potential HOA fees? Owning a beachfront property is a wonderful opportunity, and the more prepared you are, the better your chances of finding the home you want and making smart choices to get it.
Even if your potential beachfront properties are not in designated FEMA flood zones, it's important to remember that climate change could quickly change your circumstances, and it pays to be prepared. While some states and mortgage lenders require flood insurance, even those states or lenders who have not could see that change in the next few years.
Consider your shoreline and foundation
Consulting with community officials in the area of your potential new home can help you be informed not only on the details of your property but also understand what is planned to help mitigate the erosion. These properties must withstand multiple elements from disasters, severe weather, and strong wind and rain storms. Investing in a beach home property is a big deal, so it is essential to make sure you are doing all you can to protect it.
For example, you’ll need to ensure there is proper ventilation at all times in order to prevent any unwanted growth. It is always a good idea to keep up with your roof and windows, as the closer to the water you are, the higher your chances of having to deal with severe weather, from rain and wind storms to hurricanes, all of which can cause considerable damage to parts of your home. Even with the more complex maintenance needed for homes like this, the pros far outweigh the cons, and by keeping up with the maintenance, there is less chance of any surprises.
If you are planning to buy this property to rent out, consider hiring a property manager to take care of your property, especially if you’re far away, they can ensure that your property stays up-to-date and rent-ready.
Inspections are vital
When it comes to a beachfront property, you want to have someone to ensure that it is structurally sound and has a solid foundation. You’re so close to the water that there could be a number of potential hiccups that are much easier to deal with if you know about them sooner rather than later. This is also a great opportunity to have the roof and windows checked in case any past storms cause damage or if any small problems could become bigger if a severe storm were to hit.
Use a local realtor
Local realtors know the area, so if there are any specific must-haves about the location you’re looking into, they’ll be able to provide you with that information. How close to school is it? How busy is the area on any typical day? They’ll be able to provide you with fast and confident answers to all your questions. Use a local to help you live like a local!
When you have decided that it is time to buy that beachfront property, be sure to connect with Indian Rocks Beach, Indian Shores, and Belleair Beach real estate agent Adrienne Dauses to help you navigate all of the ups and downs of the buying process and help you feel confident in your purchase. Adrienne comes with years of real estate and property management experience, as well as a wealth of local knowledge. She has a variety of Indian Shores, Belleair Beach, and Indian Rocks beach homes for sale and is ready to be a part of your journey. Contact her today!