Buying a Beach House: Expectations vs Reality
Buying a beach house is a dream for many people.
After all, who wouldn’t want a home next to a beach to go on vacation?
But many people confuse the expectations of a dream with the reality of owning a beach house!
There’s a lot to think about, from buying to owning it with beach homes.
And unfortunately, many people tend to fall into the trap of buying beach property without knowing exactly what they’re getting into.
So, to help you avoid this trap, we’ve put together a guide on buying a beach house: expectations vs. reality.
Be realistic about what you can afford
For most people, buying a beach house will be buying their second property. This can cause some complications regarding mortgages, and you should research this ahead of time to be prepared.
If you’re planning on renting the property while not staying there, you’ll complicate the mortgage even further. This is because a property you plan to rent is legally considered an investment property.
With this in mind, it becomes imperative to be realistic about your budget and what you can afford. And even if you’re not going to rent out the property, and if you’re planning to make it your primary residence, you need to know what you can afford before starting the process.
And if you’re planning to make real estate your career, consider how to be more productive as an aspiring entrepreneur. Real estate can be complicated, so be prepared for the challenges.
Beach-front or off-beach?
When someone mentions a beach house, it makes sense to think of beach-front property immediately. After all, the perfect image of a beach house for most people is right by the water, and it makes sense.
However, it’s much more realistic to consider off-beach property, especially in states like Florida, where the beach-front property is extremely popular.
Generally speaking, off-beach property (property that is close to the beach but not directly next to it) is much cheaper and much easier to get. If you’re considering buying a beach house in a state like Florida, consider carefully whether you want off-beach or beach-front property.
However, experts from Best Movers in Florida recommend that you plan very carefully when moving furniture into the property. After all, the last thing you want is to damage your beach house, especially if you’re planning to rent it out.
Keeping your beach house maintained
Most people forget when buying a beach house that properties near water require special maintenance. So, most people expect that maintaining their beach house will be easy. However, the house tends to deteriorate faster because of the proximity to salt water.
This leads to a need for maintenance much more often and usually makes it more expensive. This is because materials used for beach houses need to be treated with unique materials. Otherwise, the entire property falls apart fairly quickly.
This poses a couple of problems: the expenses of maintaining a beach property and maintaining a property long-distance.
So, be sure to prepare yourself for this before deciding to buy a beach house. Additionally, when staying at your beach home, think about how living without the internet benefits your health. Even if it’s just for the duration of your vacation, the benefits are noticeable.
Renting out your property
Most people think renting out their beach house while away is easy. However, there are a few things they forget to take into account.
First, finding potential tenants can be pretty tricky because you live far from your beach property. Especially if you’re considering a beach house in Florida since most of your tenants will be tourists.
Tourists usually prefer to pay in cash, which obviously needs you to be there in person.
Additionally, you have to consider that tourists are much more likely to damage your property. After all, they’re much less careful if they stay on property for only a week or two.
So, before you decide to invest in beach rental property, think about the pros and cons of doing so. Remember to think about everything before deciding to avoid any mistakes.
Proximity to entertainment
Most people think that simply being by the beach is enough to fill an entire vacation. However, relaxing by the beach all day, every day, can become quite dull for most people.
Considering the property’s proximity to other forms of entertainment, such as nightclubs, is also essential. This becomes even more important if you plan to rent the property out. After all, people are much more likely to become tenants if they have entertainment nearby, especially in states like Florida.
Tourists are likely to look for entertainment, so buying a property near something of the sort is a huge advantage. Alternatively, if you’re the sort of person who wants a quiet vacation, you might want to consider a property far from sources of entertainment. If this is your attention, consider how to get better sleep at night for your vacation.
Buying a beach house: expectations vs. reality – wrap up
Beach houses come with many expectations. And it makes sense, considering many people dream about owning beach houses. However, the dream can quickly become a nightmare if you’re not prepared for the reality of owning a beach house.
As such, it’s essential to do your research thoroughly and prepare yourself for owning a beach house. From maintenance to finding tenants (if you’re planning on renting the property out), you must be appropriately prepared for everything.
We hope this guide to the expectations vs. reality of buying a beach house helps you achieve your goal, and we wish you a good day.