Beach home

6 Things to Consider When Purchasing a Beach Home

So, you and your family are thinking about making a big move to the beach. The excitement of beachside living can often overshadow important elements to look for when purchasing a home on the beach. These things, if not taken into careful consideration, can cost you money and your beachside happiness. Here are a few things to keep top-of-mind when browsing for your next purchase.

  1. Flood Risk – It makes sense that homes on or near the water may be at a higher risk of flooding but before purchasing a home, there a few things to keep an eye out for. Make sure the house was built with flood-resistant materials. You can also research to see if the home you’re considering is in a high-risk flood zone. You can check this on the FEMA Flood Map Service Center.
  2. Potential Rental Income – You may be looking to purchase a beachfront property for a full-time residence, or you might want to consider renting it occasionally. If you’re looking for short-term investment, it may not make sense to rent out your property. Homes with more than one-bedroom tend to bring it higher rates and are far more in demand than smaller dwellings. Consider all these things so you can accurately calculate your costs before purchase.
  3. Insurance Rates – As with any type of insurance, it pays to shop around, but you’ll pay more for the beachfront property as it’s considered higher risk than an inland home. According to Insurance.com, the average rate can be close to $10 k in the Crystal Beach area. When budgeting for your dream home, you’ll want to take this into consideration and do your research upfront so there are no surprises at closing.
  4. Windows – Make sure the beach home you’re purchasing has impact windows. These durable windows protect against high winds and debris that may occur during a hurricane or a severe storm. Not only are these windows for protection, but they will lower your cost of insurance, decrease noise levels, and help improve your home’s energy efficiency which results in lower monthly bills.
  5. Property Management/HOA Fees – If you’re purchasing a beach home for a seasonal residence, then you may want to consider the cost to keep up your property while you’re away. Property Management fees can add a substantial amount to your bottom line so it’s wise to take this into consideration before making the decision to buy. If you will be living at your new beach home full-time, consider the cost of HOA fees. This can be a one-time cost or a monthly cost depending on the property.
  6. Coastal Home Inspector – When considering a waterfront property, you’ll want to hire an inspector that has experience dealing with such homes. Beachfront homes are susceptible to unique issues such as corrosion. An inspector that deals with homes more inland may not be aware enough to look for these types of problems.

We hope we’ve helped you understand the risks and rewards of beachside living. If you’re looking to relocate to the beach, visit our website to view our current listings. If you’re not planning to purchase a beach home, we hope you’ll consider the Bolivar Peninsula for your next vacation. If you’re interested in getting away to our beautiful 27 mile stretch of Bolivar Peninsular, check out our rentals. And don’t forget to follow us on Facebook and Instagram for the latest and greatest news from Swedes Real Estate. We hope to see you soon!

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