Buying a vacation house can be a great investment for a few reasons. Not only will it provide you and your family with accommodations for your own vacations, but it can also be rented out to other vacationers, ensuring it is an even better investment. Unfortunately, the process of buying a vacation house at the beach can be a bit overwhelming. With these tips, you can reduce the stress of buying a beach house.
Compromise on Location
One of the first things you need to decide is where you want to buy the property. Just that you want to buy a beach property does not mean you have to buy a house directly on the beach.
Oceanfront properties will be most expensive, but you can still enjoy easy access and views without the enormous cost by buying an oceanside property. If you want to save even more money on the purchase, consider a property a street or a few blocks from the beach. You may not have the best view, but you will save a good amount of money while still enjoying the benefits of a beach house.
Consider the Property Type
Another compromise you may want to consider is what type of property you want to buy. Even if money is no object, buying a luxury estate on the beach may not be a smart investment, especially if you plan to rent out the house to other vacationers.
A smaller home, which works well for most traditionally-sized families can be a good option. Also, consider a cottage style home on the beach. The smaller property will be more affordable and easier to rent out to small families and couples.
Finally, consider the benefits of a condo. Condominiums are available in a variety of sizes and locations, so you can choose a large one with multiple bedrooms directly on the beach or a smaller condo with convenient beach access. Benefits of a condo include reduced maintenance, which can save you time and money over time.
Stay Before You Buy
If the property is vacant, consider asking the owners/real estate agent if you can stay there before you make an offer to purchase. Staying there even for a few days will allow you to experience the location and views throughout different times of the day/night and week.
Staying at the property will also help you enjoy the space as a renter, so you will be able to determine if your future renters will enjoy the space, as well. Work with your realtor to explore vacation beach homes.