Sitting back in your own porch while you see the sunset on the ocean and you breathe in the fresh salty air is many people’s idea of The Dream. However, there are some things you should think about before you invest in your very own beach house. Here are some tips:
1 – KNOW WHAT YOU WANT FROM THE PROPERTY
It’s important to make yourself some important questions before investing: would the beach house be your main residence or a vacation house? How much time will you be spending there, realistically? Would you want to rent it out when you’re not there?
2 – STAY REALISTIC
It’s easy to get carried away by the idea of a beach house, but it’s important you remain realistic about the expenses. Maintaining a beach house can be more expensive than a regular house, especially if it’s on the waterfront, because of the salt and the sand. Waterfront property can be more expensive, too. Make sure the investment makes sense on all these levels.
3 – MIND THE LOCAL LAWS
Laws for beach property can be a little tricky to navigate. Sometimes you can’t build freely on your property, and sometimes it’s discouraged to rent out your house to tourists. Inform yourself properly before investing.
4 – LEARN ABOUT THE COMMUNITY
Your beach house will be part of a community, so take the time to learn about it. Is it a touristic place, and if so, does it get crowded? Renting first is a good way to know the community, no strings attached, and look for details like what part of the community you like best, or what things you can do at that specific beach.
5 – BE PREPARED FOR FLOOD INSURANCE
The sea can be an unpredictable force. This means that any beach house can be flooded, and depending on the location, it can be more susceptible to rain, storms or hail. Flood insurance can help you protect your property, so you should keep that in mind when planning your expenses.
6 – GET PROFESSIONAL GUIDANCE
As we said before, laws for beach property can be tricky; even if you know real estate, it’s best the help of a professional who’s familiar with the waterfront. Get your target property inspected by environmental and home inspectors to make sure everything’s legal and there aren’t structural problems that could bring issues in the long run.
If you need the help of a real estate agent contact us at The Coto Group, at our phone numbers (305.422.9286 / 305.803.3059), and follow us on social media @TheCotoGroup to know more about real estate all over Key Biscayne and Brickell. With over three decades of real estate experience, The Coto Group will solve all your real estate needs.