If you're considering buying waterfront property, there's a lot to think about. Not only is it more expensive to purchase in general, but it's also more expensive to maintain. Whether or not it's worth the extra cost depend on what you want to do with your property.
Everyone Wants to Be There
Waterfront real estate is more expensive because of its scarcity and because everyone wants to live on the water. And for good reason. Not only is waterfront property a good investment, but that waterfront view adds sparkle to all of your events and even daily life. However, the upkeep of a waterfront house is usually more expensive. If you're looking for a beach house, keep in mind that the sun will bleach paint, while the salt and sand have corrosive properties. This means that things like paint, wooden shingles, and metalworks will have to be replaced more frequently.
Be Careful About Natural Disasters
When thinking about oceanfront property keep in mind that you may have to have hurricane shutters and other provisions installed and purchase additional hurricane or flooding insurance. In fact, due to the risk of water damage, all waterfront homes are more expensive to insure, while insurers continue to recommend that you purchase flood insurance as well.
You Don't Have to Be on Top of the Boardwalk
If you're purchasing beach houses purely to rent out as an investment, do some research to see if properties with access to the water, but a little farther away are renting for similar prices. If they are, they might be a less pricey option.
New Construction Is Pricey
When you're considering purchasing a piece of property that hasn't been built on yet, you should know that building costs on the water are more expensive because contractors have to build reinforcements to prevent soil erosion. It's also possible that your waterfront property is isolated from sewage, water, and electricity connectors, which could mean higher costs in building a connection to them.
However, if you want your waterfront property to be your family home, it's harder to say whether it's worth the added cost. Whether you're on the lake or the ocean, the water can be a perfect backdrop for events and it's hard to be in a bad mood watching the sunset over the water. Time spent out on the water with your children could prove to be some of your fondest family memories. Waterfront property, when priced correctly, is also on the market for a shorter period of time, so if you can imagine reselling, waterfront beach houses are definitely a good choice.
To check out beach houses you'd like to visit, contact companies like Ocean Beach Cottages.