Buying a beach house is at the top of the bucket list for many. Having a property where you can go and relax and enjoy the sea and nice weather is the stuff of dreams if you can afford one. But there are more than a few things you should consider before investing in such a property. As you may already know, beach houses are quite expensive, so you want to ensure you get value for money before investing a large financial outlay into one.
Here are some things you should know before buying a beach house.
Understand The Market
The forces of demand and supply greatly influence real estate. For beach houses, their prices tend to rise during summer when the weather attracts many dwellers and fun seekers to the area. Home prices tend to rise even sharper if it is a bullish market, so be prepared to pay more or less than your budget, depending on the time you enter the market.
Research The Location
The location is another factor that influences the property market greatly. Beach houses very close to the shoreline cost more than those farther away. Before you decide that a beach location is best for you, consider renting a property nearby and spending time there to get a feel of the area. Are there shopping and medical facilities nearby? What is the quality of the access route? These are questions to ask. Beach houses close to the highway, Medical and shopping facilities cost more.
Is The Area Secure?
High net-worth individuals live close to the beaches, and criminals know this and will try to invade such areas. It is not uncommon to hear of burglaries and robberies in and around beach estates, so you need to be mindful of this. Check if the area is secure. Is there a strong police presence in the area? What is their response time? Do they have private security? How do they vet individuals that come into the community? These are questions you should ask before deciding whether to buy a house in the area or not.
You also want to see if the house, in particular, is remote or close to other houses in the area. Houses in remote areas are targets for robbers compared to homes that are situated close to each other.
Realtors Will Cost You More, But it Is Best To Work With One
Experts always advise interested buyers to work with local realtors because they know the area well. You may not know the area too well, but a local realtor does. He knows the safe and high-risk areas. Sections of the beachhead that are prone to flooding will be identified so you can avoid such areas. The realtor would know if a storm ravaged the area in the past. Hiring a realtor may increase your buying cost, but they offer an invaluable service with long-term benefits.
There May Be Structural Weaknesses You Won’t Notice
Unless you are an engineer or architect, you will not spot any structural weakness the property has; that is why it is advisable to hire experts to inspect the home before you close it. An inspector will identify signs of structural wear and tear. If the area is flooded or parts of the building have been damaged by a flood in the past, they will tell. And as you know, these damages are quite expensive to repair, so the owner will either have to reduce their asking price if you look for another property.
If you don’t hire an expert to do a detailed inspection, you may end up buying a subpar beach house for full price only to spend more money on renovations.
Consider Your Needs
Another thing to consider before you buy a beach house is your needs. Do you have a large family? Will you all spend a few weeks or months there every year, or do you plan to make it a permanent abode? Whether you will be living there alone or with your family should influence your need for space. Do you want an off-beach property not far from the shoreline or a beach property?
If you go for an off-beach property, you may need to take short walks to the beach every time, but the property will cost less than a beachfront option. Consider your needs closely before you make a final decision.
Last but not least are your security needs. You will have to change all the keys and locks to the house as you never know who else has the spare keys. You may be putting yourself and your household at risk if you retain the same locks after moving in. To be safe, consider hiring a locksmith to change all the locks before moving in permanently. For extra protection, you may even opt for advanced security systems like motion cameras or keypads to secure your property.
These tips reviewed above are important things to consider before buying a beach house. If you do your due diligence, you will purchase the right property with long-term value.
