Things To Think About When Choosing A Beach Property

Posted on: 28 February 2017

Beach properties are popular with homebuyers, and there are some obvious benefits. But to make sure that you choose the right new beach home for sale, here are some things to consider.

Be Sure You Know What Type of Beach Community You Prefer

The term beach house is really a catch-all that describes many different types of homes for sale. Do you want to be right on the beach or a few blocks away? Should it be a public or private beach? Do you need to be right up against the water, or is it okay if there is an expansive stretch of sand before you hit the water? All of these factors can affect noise levels, cost of the property, and insurance costs.

Consider Insurance Costs

Insurance costs increase if your home is very close to the actual water line. That is because you are more prone to disasters such as flooding. If your home's structure involves beams that are actually touching the water, that is a potential liability for erosion as well. So, when you are looking at homes, make sure that you know what the corresponding insurance costs would be like.

Consider the Costs of Security and Upkeep

You might also want to look at the costs for providing adequate security. If your beach home is going to sit empty a lot of times, thieves might be tempted to prowl around. An alarm and security system is a great investment. You might also want to get a property manager to periodically check on the property maintenance and security. Then, there are the costs of yard maintenance and other issues. Know what you're getting into with each potential property.

Be Sure Your Finances Are in Order

Your own finances also will play a role, especially if you are looking at this property as a second home. Lenders may be more conservative about what they are willing to lend on a second home. When push comes to shove, they know that you will probably protect your main home and default on your beachfront property.

Factoring Renting Into Your Decision

One final thing to think about is whether you plan to rent out the property. It comes with more stresses and responsibilities, but it can also alleviate the burden of your mortgage. Choosing a property that appeals to renters might mean that your search criteria changes, so consult your real estate agent.