Know Your Budget and the Local Housing Market

The first thing that you need to look at is of course your budget.   If the payments on the home are going to be a little too much for you, you may need to look into buying ocean front property somewhere with a lower price tag or move your property search a few blocks inland.

But just having your budget in mind doesn’t cut it, you should also be aware of the local real estate market.  If you’re not a realtor can help you out with this.  Knowing the local market will let you better discern  if the oceanfront property is a good time to buy and where the good neighborhoods are.  You’ll also be able to bargain better because you’ll know if the home you are looking at is overpriced or not.

Check the Home Carefully

With any real estate deal you need to check the home that you’re thinking of purchasing carefully, and this is nowhere more important than when you’re looking at ocean homes front homes for sale.  Have a licensed contractor come in and inspect the property for you before you buy to make sure that there are no problems with the foundation or piping.  Ocean front homes are particularly vulnerable to storms and degradation from salty-laden air and water, and any little imperfection and spiral out of control into a full blown problem if it’s not treated in time.  Make sure you know what you’re getting into before you buy the home.

When you’re having the home inspected, also take some time and look at local building regulations.  What are you and aren’t you allowed to build on your property?  What about the existing structures?  Are the allowed to be there or not?  Are they grandfathered in under the law?  Different structures, like a pier that’s grandfathered in when no more are allowed can dramatically affect the resale value of a property.  On the other side of the coin, if you face steep fines and removal costs for a particular structure, you might want to think twice about buying.  You should pay particular attention to whether you are allowed to build jettys, rock walls, or other structures that can help stop shoreline erosion.

Check the Property the Home is On

In addition to the actual house, you should also check the land your potential future ocean front vacation home is on.  First, find out how beach access is dealt with.  Do you have a private beach or is the beach in front of your home designated as a public beach?  Even more importantly, make sure that if no road leads right up to your property that the lean on the property next door allowing for road access is sold with your lease and doesn’t expire.  If not, buying it back might be particularly pricy.

Also take a look at the land itself.  If you want your home to last for the longest time possible, there should be an assortment of foliage, including tree, plants, and sand dunes.  These will all help with drainage so your house will flood less often, and will also help to protect it from the battering forces of most storms.

Talk with Neighbors

Finally, make sure that you talk with a few of the neighbors before you complete your purchase.  Ask them about the home, neighborhood, the town in general, or anything else you might have questions about.  Knocking on doors might elicit some annoyed responses, but if you see the around outside, don’t be afraid to say hello.

Whether you’re looking for a new home, vacation home, or ocean front rental homes, make sure that you do your homework and find out everything you can about the property that you’re buying before you plunge into a 30-year mortgage.  You’ll find that you’ll get a better deal and are more satisfied with your purchase.

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Condo units that are in preconstruction are priced at such a discount because the developers that are building them need funds for construction.  This is for many reasons.  Banks generally require at least a degree of funding before they will issue a loan to develop a property.  Developers want to get to this number as quickly as possible so that they can break ground and ultimately sell their units and make a profit sooner.  Because of this, they’re willing to offer significant discounts to people that are will to share the risk with them.

Despite the big discounts, buying units in preconstruction isn’t for everyone.  Specifically, it is great for people looking to invest, but not a great option for people who want the home for their own personal use.  Investors can use the property to flip or as a rental property.  Because of this, the unit only has to be something a certain demographic or the general public will like, not something that the individual investor has to like and live with every day.  You also generally won’t be able to move in for a year or two, a time frame that will discourage many individual property owners.

Beachfront Condo Construction

If you’re an investor, buying oceanfront condos in preconstruction is almost like buying an option.  Because you only need to put down a small amount of the final price at the beginning, usually around 10% of the final price, you stand to get huge returns, or huge losses if the property market collapses.  Since most of your gains in preconstruction investment will come from this leverage that you can receive, it’s imperative that you study the market before you put one penny down.  Here are the things that you should look for in a good property market.

The first thing that you need to look at is the oceanfront condo unit itself.  Is it something that the general public will want to buy?  What is the target demographic that you can expect to sell or rent the property to?  Why would they want to rent this property.  Before you buy any property make sure that you know exactly who you’re planning on selling or renting the condo to and why they would choose your condo over other locations or even other condo units in the same area.  You should have a firm answer to all these questions before you continue.

While you’re investigating who will buy the beachfront condos that you’re looking at investing in, also do a through backgrounds check of the developer that’s in charge of your property.  The developer should have a strong track record and be in good financial condition so that you can be assured they can get the building done without running into financial trouble.

Next, look at the other building supplies in the pipeline for your area.  What other condo buildings, housing developments, or other infrastructure will be in place when your condo unit will be ready that can impact the property value of your unit.  Ideally, you want to find an area that has improving infrastructure to attract more people or make it easier to get to but some kind of constraint on development, making sure that supply is limited.

Finally, especially if you’re looking at buying property outside the U.S., the local property market should be fairly liquid.  This means that there’s lots of buyers and sellers and there aren’t any major obstructions to buying or selling property.  In some countries there are restrictions on foreign property ownership, so make sure you take this into account before you sign your final papers.

Where you’re looking at investing in preconstruction beachfront condos, there are several things that you should look for.  First, make sure that you know who wants to buy your property and why and the financial state of your developer.  Next, look at the market.  The market should have several characteristics to make it a good investment.  These include a abundant supply of buyers, supply constraints, liquid transactions, and of course an appreciating market.  If you follow these tips you should be well on the way to finding a great beachfront condo for a cheap price that can net you a nice healthy retun once construction is finished.

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For most people living on the beach is a dream come true. It is your own little piece of heaven on earth wrapped up in a beachfront house. The ocean can help you find peace and relaxation for a break away from home and work or it can be filled with the excitement of deep sea fishing or scuba diving. Owning ocean front properties gives you access to scenic, unspoiled beaches, and a sprawling ocean that goes on and on and on. The sunsets are beyond description.  No matter what time of year it is, it is always an ideal time to be at the beach.

There is a lot to do near your new beachfront property. In most areas, there is a vibrant nightlife, a variety of tourist type attractions, and dining experiences. During the day, there are many ocean-related activities. You can play in the water, surf, or go sailing. You can observe the creatures of the ocean by diving and snorkeling. For food, there is deep-sea fishing and crabbing. If you just want to relax, there is always sunbathing on the shore or creating a sand castle.  Even in cool weather, there are things to do.  Beaches are always great for a walk or whale spotting.

Relaxing Under a Palm Tree

One of the best things about living in ocean front properties is living with like-minded people. We are with other people that understand the beauty and call of nature. We are with people who respond to that call and value their time and the interactions they have with the ocean, the wind, and the endless sky.  When people get together for a visit, the visit is more relaxed and calm. Everyone there is of a great mindset that was brought by the ocean. Everyone has worked hard to have the ability to own a home by the beach and is there because they want to be.

Best of all, by owning an oceanfront property, you are almost getting paid to live in paradise. Any real estate investor knows that the three most important qualities of any real estate are location, location, and location. You don’t get a much better location than the one that you can have with an oceanfront property.  Since many people covet the location, you can be reasonably assured that your property will increase in value over time.  On top of this, if you won’t be using your property the entire year, you can also use it as a rental property, which can give you more than enough money to cover your mortgage and upkeep on the property.

Ocean front properties are an excellent investment. With ocean front properties, you have the visual benefits of the endless, moving ocean as well as financial.

With one of the popular ocean front properties, you get to live in your own little piece of heaven, you have neighbors who have the same values you do, and you are making a great investment in your future. What could be better than that?

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Value as an Investment Property

As far as investment properties go, you can’t get much better than a beachfront property. With the exception of pricy, exclusive areas in large cities, no type of property holds its value and is in the same demand as beachfront property. This is true in both the United States and even in developing Latin American countries like Costa Rica, where beachfront properties have been snatched up in droves in the last ten years, pushing prices to astonishing heights.

Even in a down economy, while property on the beach may lose much of its value, it is some of the first property to recover as people look for discounts on a second or vacation home. All of this equates to beachfront property being a great investment that you can reasonably expect to appreciate in value over time.

Value as a Rental Property

Sri Lankan Beach Living

Beachfront homes are also some of the best rental properties in the world, and they work much better than even properties that are a few blocks further inland. When people go on vacation to the shore, they usually search for the closest place they can find to the beach within their price range. This means that even when the tourism in a beach town does take a hit, you can still expect your property right on the ocean to have plenty of guests if you adjust your prices accordingly.

Not only can you have more customers if you own a rental property right on the ocean, but you can also charge much higher rates per night than other places further inland. The higher premiums and more tenants that you can expect with a property that has direct access to the shoreline will help you cover the higher mortgage costs much easier than you might think.

Value as a Vacation Property

Finally, oceanfront properties have value as a vacation property as well. While this may not make you any money or help cover mortgage payments, it will give your family a great place to relax and enjoy all the ocean has to offer. You’ll have access to anything from early morning surfing and fishing to late night dinners outside on a deck or balcony while the waves crash in the background. There really is nothing like a vacation right by the ocean.

Real estate is all about location, location, location. And one type of property that has a better location than almost any others are oceanfront properties. These properties offer great investment opportunities, income opportunities through using them as a rental property, and even just the benefits that you can get from using them as a second, or retirement home. If you’re interested in buying a property at or near the beach, search the internet to find a realtor that can show you your options today!,

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One of the biggest advantages to using a realty agency is that they will save you a great amount of time and frustration in your search for the perfect home for you.  Especially if you go through a larger agency, they’ll have the connections and ability to share information that will let them match buyers and sellers quickly.  This means that if you’re looking to sell, your home will spend less time on the market, and if you’re a buyer you’ll be able to move into your home sooner.  If you try to find a property yourself, you will spend a lot more time searching through listings that aren’t of any interest to you.

If you are trying to buy property in an unfamiliar, and especially if you are trying to find beachfront properties in foreign markets, having a real estate agent that you can trust will be an invaluable asset.  Your agent can help orient you in the local market, let you know the pitfalls and make sure that you don’t get taken advantage of by more unsavory characters.  They can also walk you through every step of the process, from getting you pre-approved for a mortgage to helping you actually close on the sale.  Getting preapproved for a mortgage is particularly important because it will let you know how much you are able to spend on your dream home and how much you can expect to pay on monthly mortgage payments.

The biggest if in using a realty agent is if you can trust your agent.  If your agent isn’t very trustworthy, he could simply be taking your money for a quick sale in a house that you ultimately aren’t going to be happy with.  Try to search online to find reviews of reputable agents that you can deal with.  Also listen to word of mouth and ask around in the area where you’re thinking of buying property for recommendations on agents to use.

The biggest disadvantage to using a beachfront realty agency is that you will lose some money on the commissions.  About six percent of any overall real estate sale is split between the listing and selling agents, with about three percent going to each agent.  You can save this money if you know the person selling the property or you go though for sale by owner listings, but you do risk not finding the right home or being taken advantage of.  On the other hand, six percent of a relatively cheap $200,000 piece of beachfront property is about $6,000 in savings, which is no small piece of change.

Make sure that you weigh your options and know what you are getting into before you decide to find a house on your own or go through a realty agency.

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The first thing that you need to do when you’re searching for beachfront property is set a spending limit for yourself and stick to it.  It’s easy to get sucked into spending more on a piece of property that you really like.  However, if you keep just inching your budget up by a  little here and a little there, you might end up with a mortgage that you can’t pay back, and even if you can you might end up having to sacrifice a lot of the other activities you would like to be doing, like travel or nights out on the town.

One thing you need to pay particular attention to is how much the insurance you will have to pay on the property that you’re looking at.  Homeowner’s insurance by the sea can be a lot more than areas inland, especially in areas that are prone to hurricanes or other strong storms.  If you don’t take this into account when you’re searching for your ideal home, you might end up with a mortgage that you can afford, but an insurance premium that you can’t.

When you actually begin to look for beachfront property, the best tip that you can get is to look in areas that you are familiar with.  If you look in areas that you are familiar with, you will be able to better determine is a home is a good value or if it is overpriced.  You’ll also be more in tune with the real estate market in the area so you will know where to look for better deals.  In many areas, just by sacrificing a little bit on location, you can save a lot of money, but if you don’t know where to look you’ll never find that property.

If you are looking in an area that you aren’t familiar with, try to do all that you can to learn about the area.  This includes anything about tourist season, where the central areas of town are, and where the “hot” areas of the beach are.  Internet research is a great way to find out about places and so is a talk with a local real estate agent.

Even if you are familiar with an area, talking to a real estate agent is something that you shouldn’t overlook.  If you can find a real estate agent that you trust, they will be able to tell you where the best bargains are, what direction the local real estate market is taking, and if there’s any possibility to rent out the property that you are thinking about buying.  They can also more accurately tell you the prices that you should be looking to pay for homes in different areas.

Finally, don’t forget about searching out beachfront property for sale by owner on the internet.  Talking to a real estate agent is great, but sometimes you can find a beachfront home for much less by leaving the agents and the cut that they take out of it.  However, make sure that you know what you are doing if you take this route.  It’s much easier to get taken advantage of!

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Closing on Beachfront Homes Abroad

If you’re buying beachfront property abroad there are several very important precautions that you need to take in addition to the normal steps for closing on real estate. Always, always, always, find and hire a reputable local attorney. There should be several in the area that you’re buying your beach home in if it’s popular with foreigners. He will be able to tell you the easiest, quickest and cheapest way to deal with local property and tax laws. Some countries may require you invest in the land as part of a company or others may be more straightforward. But always find a trustworthy attorney and work with him to sort out your options. Most locations abroad also do not do their legal contracts in English, so you need someone who speaks the native language to ensure that the contract says the same thing in English as it does in the local language.

When you’re with your attorney, discuss at least these topics. Find out what, if any, restriction there are on foreign land ownership. In countries like the Philippines there can be tight restrictions on land ownership, but other countries like Belize and Costa Rica actually encourage foreign investment. Find out about any transaction fees or taxes that you are responsible for when closing on the property as well. These can represent a significant amount of your final price and should be factored in.

Closing on Beachfront Property Domestically

Closing on beachfront homes for sale in the United States is really not much different than closing on regular real estate. Before closing, make sure that you actually know the local and state laws that pertain to whether you have private beach ownership or if there’s a public beach. Depending on local rules, your property could actually expand or shrink depending on rising sea levels or erosion or deposits along the shoreline. If there’s no public road access to your property, also ensure that there’s a right of way clause in the contract so that you won’t be stuck without a way to get your new home.

The best advice for closing is to know the closing papers front and back. Review and re-review all the documents before you sign them. Know what the fees involved are and do the calculations yourself. Real estate agents are just as human as the rest of us and can make the same mistakes, even in legal contracts. Once you’re happy with the paperwork, go back to the property right before signing the papers. Make sure that all the work has been done that was promised when you made the offer and everything is in the condition that you expected it to be in. If it is, you can sign the papers with a sound mind.

Closing on beachfront real estate is not much different than closing on other property in the U.S. as long as you keep in mind the few features, the ocean for starters, that make beachfront homes unique and of such value. If you’re planning on buying property abroad however, make sure to always have room in your budget to enlist the help of a lawyer who can inspect the contract for you and make sure that everything is legal.

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The first thing you need to look for when you’re buying beachfront property is of course “location, location, location”. Right on the beach is great, but you will have to take the overall geographic location of the area into account as well. Is the area prone to frequent storms? If it is, you might be facing incredibly high insurance costs, if you can find insurance to cover your property at all. If it’s right on the shoreline, is the shoreline eroding away to the point where you new dream home will be in danger? If it’s not, look at how close the water comes to your home at high tide. If the water comes too close, it runs the risk of flooding your home and making salt degradation a much quicker process.

After you’ve made sure that the location for your beachfront real estate is exactly where you want it to be, you need to look at the foundation to your new home. Especially if the area is prone to storm surges, you need to have the home built on a deep foundation topped by concrete footing and wooden pillars that support your home. Newer homes may have advanced construction methods like breakaway walls in the event of a really large storm surge that will let the waters pass through your home. It ruins part of your house, but at least the whole thing doesn’t float away. Also make sure that the home as adequate storm windows and doors to protect against heavy winds.

When you’re looking at the structural integrity of your home, also pay attention to the condition of the building. Make sure that you ask what year it was built in. Look at other houses in the area as well and ask what year they were built in if you can find out. Is the home you’re looking at buying in significantly worse shape? Better shape? Did all the building in the area degrade pretty quickly? If Mother Nature is particularly harsh to any structures that are in the area, you should seriously think about lowering your asking price.

Finally, and most importantly, when you’re buying a home make sure that you stay within your budget. If you’re planning on renting out the property, make sure that you can still afford the payments if a low season hits and you can’t find any tenants for the summer. If you don’t do this, you could find yourself in some serious trouble with the bank and with a nasty black mark on your credit history that will prevent you from enjoying any other beachfront properties in the near future.

Buying real estate at the beach is not too much different than buying real estate inland. Make sure that you exercise some caution and don’t buy anything until you’re absolutely certain that you know everything there is to know and it’s up to your standards. If you use these tips and some common sense you should be able to find a great piece of beachfront property that you will be able to enjoy for years to come.

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Before you even start looking at specific beach front properties, you should first and foremost look at your own financial situation. Examine if you really can afford to buy beachfront property. If you can, always set a budget based on what you think you can afford and make a vow to yourself not to go over this. Make sure to include not just mortgage costs in this, but also costs of upkeep, maintenance, and of furnishing the home or condo. This is to help you if you should happen to fall in love with a certain property that is just out of your price range. If you are planning on using the property to rent it out, always do the math to see how many renters you need each year to break even in case the market in the town your are buying property in collapses for some reason.

After you have gotten your personal finances in order, the next step is to familiarize yourself with the local housing market. Start by looking around the internet for various different places you would be able to own property in. You may already have an idea of where you would like to own a beachfront condo if you have a favorite vacation spot, but there may be other areas that are cheaper or more attractive than this. Doing research on the internet will also allow you to compare property prices so you’ll have a rough idea of what sellers are asking for before you actually take the time to go down to your future beach home.

As you get closer to looking to buy a beach home, talk to a local real estate agent and, if possible, friends and other locals that have lived in the area. Find out what property prices are doing in the area and if there are any proposed projects underway that could affect property prices either way in the near future. This could involve plans to station lifeguard, beach renovations, new roads, or other new infrastructure projects. The condition of the beach is of particular importance. The cleaner and better kept the beach is, and the less erosion that it suffers, the more people will be willing to come and you will be able to charge higher prices for rents.

Try to find out more about the overall economy of the town surrounding the beach as well. Are more and more tourists coming year after year? Or have people lost interest in this location and are slowly beginning to migrate to other areas? The one bodes well for your future property value, while the other one doesn’t.

Finally, find out as much as you can about the individual property that you are planning on buying. When did the seller buy it? For how much? And why is he selling it now? Asking why a seller is selling a piece of property should be a particular importance. If they’re moving, figure our why. Do they just need more money, or have they seen the writing on the wall and want to get our of town before they lose more money on their investment?

There are many different factors that influence whether or not you should buy beachfront property, and only you yourself can figure out if the investment is worth it for you. The major thing which should influence your thinking is what order your personal finances are in. After this, make sure that you find out as much as you can about the property you are going to buy, the town surrounding it, and the housing market in general. If you follow these simple steps, you can find yourself in the beach house of your dreams in no time.

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#1: The Tides Play a Huge Role

Probably the most important factor that you have to look at when buying beachfront property is how the tides are going to affect the shoreline you’re hoping to have access to. Gentle predictable tides will almost always be more desirable than huge swings in tides. If the tide goes out too far, it can leave a large stretch of mudflats exposed. This will leave you looking at huge expanses of mud instead of gently lapping waves coming into the shore, make you walk the whole way across the flats sometimes getting stuck up to your knees in muck if you want to go for a swim, and possibly leave any boats you might have tied up high and dry. In many areas with extreme low tide the smell associated with it may take some getting used to as well.

Also be on the lookout high tides that come in too close to the property that you are considering buying. Having a balcony that allows you to stand out over the water at high tide may sound cool in theory, but it leaves the structure there open to large amounts of salt degradation and flooding. If there’s already a house on the property, try as much as you can to check the different plumbing fixtures to see if they’re corroded prematurely.

Before buying your beachfront home or parcel of land, make sure that you look at it at both high and low tide so that you know you are getting what you want. It something isn’t to your liking, find another property or ask for a discount on the price.

#2: Make Sure You Keep Your View

The view is one of the main attractions of owning land right next to the beach. From the time the sun rises in the Atlantic to well past when it sets over the Pacific, you’re guaranteed to get great views from any oceanfront property that you own. You’re also likely to pay a premium for the properties that have the best view.

If you are paying a premium to get a great view, make sure that you will be able to keep it. If you buy a home or condo that is away from the beach by a few blocks, but is still the highest building in the area, you’ll still get great views that you’ll likely pay a little bit more for. Before you do this though, make sure to check the building regulations in the local area. If someone decided to develop a lot in front of your building into another building or hotel higher than yours, instead of staring at sunsets at night you’ll be left staring at the back side of the brand new 4 Seasons. Not only that, your property value will take a hit as well. Make sure that you’ll be able to keep your view for years to come.

#3: Look At How the Sun Affects Your Property

When you’re examining the view that you have on your property, also look at how the sun rises an sets relative to your property and how long your parcel will be in the sunlight. Does your land get sun most of the day? Or is there a large building that blocks the sun at certain times of the day. If you’re looking for land on the Pacific coast, this is not as big of a deal unless you’re an early riser because the sun will always set over the ocean. However, if you’ve got property on the Atlantic coast, having a big building directly behind you could give you an early sunset and cast a shadow over your beach house. You also need to take how far away from the tropics you are when considering this. In the tropics, the sun will rise and set in largely the same location, making it a huge deal if something blocks the sun at the end of the day. However, in more northern latitudes, the sun changes the degree of sunrise and sunset much more, meaning if there’s something between you and your sunset, you’ll only have to endure it for a few weeks.

#4: More Plants Means Better Beachfront Property

When you’re looking at buying property right on the beach, one thing that many people overlook, but you should take into account is how much plant foliage is there and if there’s any natural dunes that protect you from the sea. More plants mean that land is going to have better drainage and in heavy rains the land will not wash away into the sea. Plants will keep your home better protect you and your property from excessive rain, by making sure you home and the area around it doesn’t flood as much, and also from the occasionally heavy storm that brings high tides because the dunes create a natural levee of sorts.

#5: Examine the Existing Structure

When you’re buying a home you should always have someone check out the structural integrity of the building. But, when you’re buying beachfront property, you have to be incredibly diligent in your structural checks. This is because buildings by the sea degrade much easier than those further inland due to the harsh, salt-laden sea breeze.

The easiest way to do this is find out how long a building has been standing in a certain area. Look at the walls, roof, floors, fixtures, and anything else you can observe to see the extent of any degradation. If the building has deteriorated much faster than you would suspect it to, it may be built in a bad location. Bring this up and demand a lower price. If the building’s been around for longer than 10 years and still is in good shape, it shows that the house was built well and is in a good location to resist the elements.

Buying property right on the beach is incredibly exciting. Follow these simple tips and make sure that you do your homework and follow these tips and you will have your dream home in no time!

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