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Buying Beachfront Property; A Guide

Many people dream of having a beachfront property; of being able to wake up in paradise every day. There’s a lot that goes into buying beachfront property, more than most people realize. Here is your guide to buying beachfront property so you get the right property for you at the right price.

What Kind of Property do You Want?

The term “beachfront property” is more of an umbrella term. There are plenty of different kinds of beachfront properties so the first step is choosing the right one. Do you want your own vacation home? Do you want a home you can rent out? Do you want a luxury estate?

An estate is a good investment because you can easily convert one into a bed and breakfast or you can use it to house the entire family. The downside is that they take a lot of time and money to maintain.

If you’re looking for something small and simple then you can’t go wrong with a condo. Beachfront condos are more affordable and don’t take a lot of effort to maintain. There’s the cost of HOA dues, but those are generally low enough to not be a deterrent.

Of course, you could also buy a standard home by the beach. You’ll have the privacy of a condo with the amenities of an estate.

Choose a Real Estate Agent

After deciding on the kind of property you want, you’ll want to find a good real estate agent. Not any old agent will do here, as you want to choose one that has experience with beachfront properties.

Many agents don’t know how to properly handle these kinds of properties. An inexperienced agent could see you investing in a bad property. For example, beachfront property might be cheaper because getting to the beach from there is a hassle, which would be a major negative.

Get a Home Built to Last

Beachfront properties can take a lot of abuse. They have to stand up to harsher conditions. Those conditions get even worse if the home is on the ocean. There’s the risk of storms and, even in temperate climates, the salty air and water does a lot of damage to metal.

If you are going to buy a beachfront property you need to choose one made with stainless steel. Without that stainless steel in place, your home is going to rust pretty fast. A good beachfront home is also built on a solid high foundation to protect against the water.

Flood Insurance

Investing in beachfront property means investing in flood insurance. Homeowners insurance isn’t going to cover the damage from floods. Some areas make it mandatory to buy flood insurance so expect to have to buy it.

Even if you aren’t in a high-risk area where flood insurance is mandatory, you should still get it for your own peace of mind. Repairing the damage caused by a flood is expensive.

What to do With the Property

Just what you can do with the property may depend on where you live. If you live in a community where the homeowner’s association controls everything, you might not be able to make the improvements you want.

Different municipalities have their own rules and regulations about what can be done to beachfront properties. Make sure you look into the local regulations before making a purchase.

Buying beachfront property could be a dream come true, but make sure that you go about it the right way. Decide on the kind of property you want, find a good real estate agent, and get the beachfront property of your dreams.