Are you looking for that perfect house on the edge of the ocean, where you can watch the sunset with sand between your toes? No matter whether your beach house budget is large or small, you can find the right place for you. Here are a few top tips to help you find it.
Rent for a While. Renting a home in your chosen town or neighborhood is the best way to take a "test drive" in your beach home before committing. Renting for a month or more -- perhaps even in a less-desirable time of year -- can help you find out if this is really the right investment for you. It also gives you a chance to check out the community, the amenities, the tourism, and the weather. It's good to take your time at this stage of home shopping and be willing to try different locations before committing to a purchase.
Rethink Access. Having a house on the beach doesn't necessarily mean that you must be right on the sand. It may serve you well to consider houses for sale that are near the beach or have some type of less-direct access to the beach. Why? You can often get more home for your buck if you're willing to look at homes even a few blocks away. If you're willing to sacrifice a little convenience, you may find that your home options greatly improve.
Build a Bigger Nest Egg. Second homes may require a higher down payment or more hoops to go through with lenders. You may also need to show greater financial stability to qualify for a mortgage on a vacation home or carry insurance that's not required on your main home (such as flood insurance or landlord insurance). For these reasons, it's a good idea to be conservative in budgeting for a beach home and make sure that you're really financially ready for the added expenses.
Decide about Renting. When choosing a vacation home, it's important to know whether or not you want to rent it out when you're not using it. A beach home in a desirable area can bring in a sizable income -- perhaps even paying for the home entirely -- from vacationers and tourists. But, renting may mean considering the needs and wants of other people when deciding on a home. For example, while you may enjoy the peace and quiet of a home far away from the nearest city, if you want to attract young renters, you may need to look for a more convenient location.
By following these tips when shopping homes for sale, you can find a great beach retreat and buy it with confidence. And then, there's nothing left to do but enjoy that margarita while the waves crash in front of you. For more help, contact a real estate agency like Berkshire Hathaway HomeServices PenFed Realty.