Waking up to the sound of crashing waves, feeling the sand between your toes within minutes, and basking in that ocean breeze. Owning a vacation home near a beach sounds like the perfect escape from your daily routine, right?
You’ll be amazed to know that four out of ten Americans now own vacation homes. However, before diving headfirst into the real estate market looking to become a part of this statistic, there are a few things to consider. After all, buying a beach property isn’t quite as simple as picking out colorful seashells from the shore.
Here are a few tips to help you make the perfect beachside investment when buying a vacation home near a beach for an amazing lifestyle.
Location Matters, Even Near a Beach
It’s easy to fall in love with real estate listings that boast “minutes from the beach.” However, is the said location really what you imagined?
Consider the surrounding community as well. Is it a bustling tourist hub, or more of a serene, quiet getaway? Will you have year-round access to the home, or is it in a seasonal hotspot that shuts down when summer fades?
Think about proximity to amenities like restaurants, shopping, and medical services, too. A beachside property may have stunning views. Sadly, if it’s a hassle to get basic groceries or a cup of coffee, you might end up feeling stranded rather than relaxed.
Understanding the Financial Side of Things
It’s no secret that beachside properties can carry a hefty price tag. However, it’s not just the initial cost of buying the house that should be on your mind.
Real estate near the water often comes with expensive insurance for the place. Flood insurance, for instance, is a must, and it’s not cheap. Also, property taxes in coastal areas can be steep. Before you fall in love with a listing, take the time to understand the full scope of financial responsibilities.
Chat with a real estate agent who knows the local market. Don’t shy away from asking questions about any additional fees or costs that come with beachside living.
How much do you have to pay to get a beachside property in the US?
In the US, beachside property prices can start from anywhere around $300,000, and go all the way to a few million. Some coastal areas see higher beachside property prices than others. California and Florida, for instance, command higher prices for their beachside properties.
Understanding the Property’s Rental Potential
Owning a beachside vacation home sounds dreamy, but let’s be real – you probably won’t be able to live there all year round. That’s where the magic of rental income comes in. If you’re not using the property, why not let someone else enjoy it while helping cover the costs?
Look at the potential for turning your vacation home into a short-term rental. Some properties in popular areas can practically pay for themselves through rentals when you’re not using them.
Usually, places that offer interesting tourist attractions and activities can bring in a lot of visitors. Hence vacation homes in these locations are good for generating rental income.
Take the case of Manzanita, Oregon. According to Keller Williams Sunset Corridor, this place is home to one of the longest continuous beaches on the Oregon coast. Also, the beach offers activities like beachcombing, kite flying, sandcastle building, etc.
Hence, homes for sale in Manzanita, Oregon, particularly around the beach are sometimes turned into vacation homes. That’s because with all the attractions and activities available, buyers know that these properties can surely generate rental income.
When is the best time to rent out beachside vacation homes?
The best time, in terms of getting more money, to rent out a beachside vacation home is July. During this time of the year, the average daily rental price of such homes hit a nationwide high of $420 per night. That means you can generate a hefty ROI for the property.
Weathering Out the Storms
Hurricanes, tropical storms, and erosion are just a few of the natural elements you’ll need to consider. Beach homes tend to face more wear and tear from the elements. If you’re not living there full-time, you’ll want to make sure your property can withstand whatever nature throws its way.
When exploring real estate listings, make sure to ask about the materials used in the construction of the home. Are they hurricane-resistant? Is the foundation elevated to avoid flooding?
A home that’s built to endure the coastal elements will save you a lot on repairs down the line.
Why do people like beach houses?
People like beach houses for their relaxing atmosphere, ocean views, and direct access to the beach. The soothing sound of waves, fresh sea breeze, and opportunity for outdoor activities make them an ideal retreat from daily life.
Taking Maintenance and Management into Account
You should know that coastal properties face a unique set of challenges, including saltwater corrosion, sand buildup, and increased moisture. Not exactly the glamorous side of beach life, right?
If you’re not planning to live in the home full-time, it’s worth considering hiring a property management company to handle the upkeep.
A good property manager can take care of everything from routine maintenance to managing rental guests. Therefore, you can truly enjoy your time at the beach without worrying about what’s happening when you’re away.
Buying a vacation home near a beach should be an exciting, joyful experience, not a stressful one. Keeping these tips in mind will help ensure that your beachside escape is everything you dreamed it would be, without any unwanted surprises.
Now then, go ahead, start browsing those real estate listings, and get ready to enjoy your perfect getaway spot.
