What Did the Ocean Say to the Beach
Tips for Buying a Beach Home
Having their very own beach house is something many people dream about, and if you're lucky, you can make that dream a reality. But before you buy, there are some things to consider to ensure your investment doesn't turn out to be a dud.
Consider the Neighborhood
Before you assume one beach town is just as good as the next, you may want to do a little more homework. Some real estate agents suggest renting a home in the area and spending a week or two there at different times of year (off season and peak season) before making a purchase. You can find out if the locals are wild spring breakers or quiet snowbirds as you discover what life is like in the community. Visit the local shops and restaurants and talk to people who live there year-round. Find out about the tourists, the weather and the local politics.
Stick to Your Budget
Don't spend every last penny you have on your beach house, and don't go over budget once you have one in place. It's tempting, but beach homes typically need more upkeep than homes that are inland because the sun and salt from the ocean can weather them down over time. If you're in a hurricane-prone area, you may end up having to make repairs down the line. And don't always assume you can cover everything with rental income. While that's an option much of the time, something could always come up, like a dip in the economy that keeps people at home.
Houses vs. Condos
One thing you really need to consider is whether you want a house or a condo. If the beach house is going to be your second home and you choose an actual single-family house, you might need to hire someone to keep up the landscaping, mow the lawn or take care of the pool. With a condo, there's typically no need to worry about all that. On the other hand, if you choose a condo, there's probably a homeowner's association (HOA) that takes care of all of that for you. Houses tend to cost more, but they can be easier to make rental income on, so that should also factor into your decision. If you're thinking about a condo, consider any HOA dues you'll need to pay regularly, and factor them into your budget.
Work With Professionals With Coastal Knowledge
From your real estate agent to your home inspector, always try to work with professionals who have knowledge of coastal homes and homes in that particular community. Inspectors know what to look for when it comes to the special wear and tear that houses along the beach often see. Real estate agents know what the local laws and regulations are for repairs and remodeling.
Talk to the Seller
Finally, if at all possible, talk to the seller of the home yourself. Find out the home's history. Did they rent it out in the past, and if so, how much did they make? What did guests like and dislike about it? What sort of weather conditions have they seen over the years? Make a list of questions that can help you get to know whether or not this is the house you want to buy.
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What Did the Ocean Say to the Beach
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