There are lots of coastal realty services that specialize in helping you find a home that’s close to—or on—the water. But how do you make sure you find the right property for you, and get the most out of your budget? Here are a few tips that making buying coastal realty easier—and a better investment:
1. The quality of the house matters as much as the beach – When buying coastal real estate, the first thing most of us see are clear skies, a shining sun, and the beach. And there’s no doubt that property that is on the water or close to the beach will have a lot of value—both today and in the future. But it’s not the only thing that matters. In many ways, buying coastal property is just like buying regular property, but with a really great amenity (the shore). And when buying regular property, people pay a lot of attention to how well a house is built, how big it is and what condition it’s in. If all you want is a vacation house, then a beach shack might be fine, but if you want lasting property value, then look for a house that’s well-built and would be desirable no matter where it was located.
2. Cast a wide net when it comes to location – Beachfront is not the only kind of coastal property there is. For example, you could get a nicer, larger house for a lower price by looking just a little bit inland, and still be only minutes from the sand and waves. Or, if beachfront or direct water access is important to you, then widen your search. Property farther from town may be cheaper in some areas, homes on the backwater often cost less than beachfront ones, or you may find a smaller, less popular but equally beautiful fishing town for much less. As a rule, anywhere with tourists is going to have more expensive property values, too.
3. Think about flooding/storms – We all like to imagine the good times on the beach, from surfing or fishing to parties with friends. But like anything, the coast has some disadvantages too. Think about whether your home will be in danger of flooding or damage from tropical storms. Can you get the appropriate insurance here, and how much will it cost? Is your house built with precautions—like being raised up on stilts? A house that is built to survive all but the most serious weather conditions will be a better investment than one that might be damaged over and over.
What do you look for in coastal real estate?