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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Know Why the Property is for Sale

The first thing you need to know to make a good purchase of land is to know why the property is for sale and why the previous owner didn’t develop it.  Ocean front property is a scarce resource, especially in tourist hot spots, and finding land that isn’t developed is even rarer.  Find out why other land was developed while this land wasn’t.  It may be because the owner never had the time or money to do it or the property was recently split off from a larger tract of land, but you do need to watch out for a few things.

First, there may be local zoning restrictions on the property preventing any construction from taking place on it.  It could be in a key watershed area or the home to the breeding ground of an endangered species.  Find this out at the local zoning board before placing any bids for the property.  Also have someone come in and examine the property.  There may be sinkholes or the ground may be so unstable that it won’t support the heavy foundations of a home.  Make sure you’re not spending a fortune to build a home on sand.  Finally, there may be problems with shoreline erosion.  If the shore is eroding around the property, soon the home may be too close and have to be moved or succumb to the tides.

Make sure that you find out all the answers to these questions before seriously considering buying the property.

Look For Local Utilities

Another reason that a oceanfront property may not have been developed is the lack of local utilities.  Make sure that the property is close enough to, at the very minimum, electric and water lines and has sewer access or can have a septic system installed.  Cable TV, internet, and gas lines are also near essentials, especially if you plan on living in the house full time or renting it out.  In properties that are close to other developed areas this may not be a big problem, but if you are looking at more secluded beachfront property, always check this, otherwise you might find yourself digging trenches in the backyard and reading by candlelight!

What Other Potential Development Might Take Place

Finally, when you’re deciding whether or not to buy a certain beachfront property, always try to think about what other development might take place on the land around yours.  While you won’t ever be able to know for sure, inquire about who owns the land around yours.  Is it owned by other single-person landowners with homes on it?  Or is the beautiful coastal forest behind your property owned by a large hotel chain that is eyeing permits to develop it?

Some development can be good for your investment, especially if it places your property closer to nightlife, shopping, or other attractions, but some development may be bad, particularly if you were hoping for a more quiet atmosphere yourself.  Always have an eye on the future.

Buying oceanfront land for sale to build your dream home on can be incredibly rewarding.  You’ll get to see your dream home sprout up exactly the way you want it without having to make any sacrifices.  However, before you can do this you have to make sure that the property is able to support a home.  By following this advice you’ll be well on your way to making sure that you can build a home on the land you purchase.

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Thai law, like the law in many developing countries, severely restricts the amount of land that foreigners can own in the country.  However, while you can own actual pieces of land, what you can own is a beachfront condo.  Foreigners are allowed to own condos in Thailand, so long as they don’t own over forty-nine percent of the total building.  While you won’t be able to have a home right on the sea, having a condo to visit a few times out of the year, is the next best option.  But, before you jump in headfirst, there are a few rules you need to follow to quality for condo ownership.

Private island off Ko Chang, Thailand

The biggest restriction on foreign land ownership is that you need to pay for the land in your foreign currency.  This means that you much transfer your foreign currency – not Thai baht – to a bank in Thailand and have it certified before you can pay for the property.  There are several steps involved in this process.

First, you must obviously open a bank account with a Thai bank and then transfer funds from your overseas bank into the account that you just created.  You then need to obtain a Tor Tor 3 form from the bank to pay for your condo unit.  To quality for this form you must transfer over at least the equivalent of $20,000 to your bank account, so make sure your transfer is at least this much.  The bank should be able to help you with this process.

Once you have to money transferred over, but before you buy the your dream condo, make sure that the title is clean on the property you’re looking to invest in.  Make sure that you are dealing with the actual developer of the property and not someone else and also make sure that the property doesn’t have huge mortgages or outstanding debts against it.  Next, you will need to work with the developer to draw up a sales agreement that you both will sign.  After this all that’s left is to make the payment in full and then register the sale with the Thai Land Office to transfer the deed to your property.

These are the essential steps in buying a beachfront condo in Thailand, but rules are always subject to change.  Make sure that before you enter into any agreements that you consult with local real estate agents and lawyers to make sure that the contracts that you sign are legal and that you are buying property that is actually valuable.  A trusted real estate agent will be invaluable in finding your dream Thai beachfront property.

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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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The first thing you should do before deciding to rent a property out is to get acquainted with the local housing market. This is especially true if you are buying the property as an investment and want to rent it out full time. In some areas, beachfront property prices have dramatically outpaced the prices that people are willing to pay for a rental for a week. This results in rental prices that won’t actually cover the mortgage and upkeep costs for the property. Beware of this if you are planning to be making a profit off of your beach home.

When you are doing this, it would be advisable to talk to a local real estate agent about the different opportunities for rental in the area. They will be able to tell you about how much a property like yours will rent out for and the different costs and fees that will be associated with renting your property out. On top of having to pay the normal maintenance costs for your home, when you rent out the property the real estate agent that you use will most likely get a cut, you will need to hire a maid service to clean it after the guests leave, and you will most likely need to invest a little more in things such as sheets and dishes.

Next, before you decide to rent out your home, get familiar with the local and state laws that govern rental properties. Some states place restrictions on properties that are rented out so that the owners can only stay in them a few weeks a year to perform maintenance. If you’re planning on making lots of visits down to the beach, this might make you choose not to rent your home. Also make sure that you’re not running afoul of any building codes. Many times homes or condos that are used for renting will need to have additional safety features, like frequently tested smoke detectors and fire extinguishers that allow the local authorities to come into your home and check if they are up to date. If privacy is a concern of yours, this may also make you a bit more wary to rent out your vacation home. Insurance on homes that are used to rent can also be higher than on homes just used as residences.

Renting out beachfront properties can be an extra source of income for people that have the money to invest in property by the beach. Just make sure that are well aware of all the rules and regulations that your house or condo will be subject to and that the revenues from the renting will be enough to cover the costs of owning if you’ve bought it as a strictly rental property. Only you will be able to know if the costs and benefits of renting our your property will be worth the costs associated with it as well.

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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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