From daydreams to dream days, owning a beach house is the pinnacle of any sand and surf lover’s wishful life plan. Despite all the good that comes with being close to the ocean, however, it always helps to have some tips so you can avoid common mistakes and remain mindful when buying a coastal house.
Hire a Proper Inspector
Finding your own inspector is a good idea in almost any home-buying case, but especially when buying a coastal home. The weather-induced damages and wear on your new house need to be addressed by someone who is well-versed in inspecting homes near the coast. Hiring an inspector can cost a pretty penny, but you will thank yourself later when you are not paying for damages or repairs that you did not originally budget for.
Know your Environment
Unlike purchasing an inland home, buying a home on the beach means knowing the ways of the wind, the direction of the sun, and typical weather patterns in your area. Being aware of the hurricane season and its historic impact on the area you’re buying a home could also mean you should seek disaster insurance, which will protect you in the event of a natural disaster so you’re not paying for high-cost damages out-of-pocket.
Determine Your Plans before Purchasing the Home
Are you planning to live in your new house full-time or rent it out to vacationers? Having the proper insurance coverage will ensure you are not left out to dry if something goes awry. Most home insurance does not cover accidents that occur when the property is being rented, so speaking with your local insurance company about additional coverage or insurance plans can protect you in the event of an unexpected accident.
Familiarize Yourself with the Neighborhood
Living on the beach can be such a dream that when buying, you can be tempted to just make the purchase and figure everything else out later. Knowing your neighbors and the community beforehand, however, is a good idea. Every community is different, and you should be sure you are comfortable where you buy your home. Your neighbors may not only become friends but will also be a valuable resource for getting to know the area. They will also be a good support network if something goes wrong, like poor weather conditions or minor damage needing repair.
Don’t Count on Renters’ Payments Covering Your Costs
Owning a beach home is an expensive endeavor (rewarding, yes, but expensive). A mistake many owners make is depending on the income received from renters to cover the costs of upkeep and mortgages, and this could leave you with an empty wallet and lots of stress on your shoulders. Between taxes, maintenance, utilities, garbage pick-up, and local licenses and permits, it is costly to own a beach home. Be sure your funds are covered regardless of renter status.
By taking these precautionary steps when purchasing a home on the coast, you will save yourself time, money, and lots of stress. Hey, one of the big reasons to buy homes on the beach is to kick back and relax, right? Do yourself a favor and go the extra mile before signing that dotted line so when it is time to close, you can feel sound and confident in your decision to purchase your dream home.