Some of the best memories of past vacations took place on the water. Think of playing in the sand, running into the waves, swimming, and hunting for shells on the shoreline. It would make sense that being able to enjoy those pastimes would equate to moving there, right? We know that buying and owning a beachfront property is a real estate dream, and it is a dream that can be achieved! However, like any major life decision, there are many aspects to consider.
Here, we have listed fantastic questions to ponder before surfing the market to ride the wave to the best decision for you!
Where Do You See Yourself Living (Besides the Shoreline!)?
There are approximately 189 official beaches in the state of Florida, as there are 360 miles of coastline. The question that remains is where is the best place to buy a beach house? You are sure to get a one-of-a-kind view that will take your breath away, no matter where you choose, however, there are many different kinds of beaches you can choose from, as well as different options for privacy, as different locations are more popular than others as far as tourism goes.
What Kind of Beach Interests You?
This may seem like a trick question, but as we mentioned above, there are different kinds of beaches that you can choose from. So which shore do you want outside your door? There is perfect, white fluffy sand, and then there are rocks. Flat, as far as the eye can see, or dunes like the humps on a camel's back? Some beaches gain a ton of seasonal popularity and some beaches are nearly remote year-round. You might consider visiting a particular beach you may be interested in to monitor the crowd. You should also consider if you want access to the beach right outside your door, or if you prefer the view of the beach from a short walking distance.
What to Know About Buying a Beach House?
Apart from assessing your budget, and deciding on the location of your beach house, you may want to have a general understanding of the long-term cost. Beach life is no walk in the park, and it is rather expensive, which is why thinking of the additional costs can save you in the long run.
- High Property Taxes
- Beach House Insurance
- Maintenance Cost
When you live closer to the water, remember that there are beaches that charge tolls to access them, sometimes even for residents.
There is also the danger of natural disasters such as hurricanes and floods that can ramp up the cost of repair, and you will have to get acquainted with the thought of an emergency fund to repair damages if a disaster were to strike.
How Much Are You Looking at For An Average Cost?
The prices of a beach house run the gamut and can start at $100,000, maxing into the millions. How much does a beach house cost on average? That depends on where you are looking. The median house price in Florida on the coast is $312,890. Once you decide where you want to bury your toes, make sure the real estate your heart is set on is in your price range.
Is a Beach House or a Beach Condo a Better Investment?
Regardless of the home type, real estate prices rise with time, so in reality, owning either a condo or beach house is a good investment. Win-win, right? First, you will have to consider costs, for example, HOA fees. If the property you are purchasing is for an investment, it is recommended to hold onto your chosen property for more than five years. If the community rules allow it, you can rent out your place as a VRBO or an Airbnb beach house. This particular investment can benefit your mental and physical health. More time spent on the beach and on a beachfront property exposes you to health benefits such as acting as an antidepressant with all the exposure to vitamin D. Residents of this area tend to be happier and exercise more.
For more information on beach front living and if it's right for you, contact our office today!~ We are your Florida Coastal Living Experts
