Oceanfront homes are highly sought after. It’s easy to see why, as they boast stunning scenery and a new world of activity close by.
Of course, what’s popular can also be hotly contested over. After all, these types of homes are rare and move quickly, so you must be willing to pull out all the stops to secure your dream home. Even properties costing millions of dollars can be gone in weeks.
A strategic, well-organized approach to securing an oceanfront home is necessary. But what are the types of things you should think about here? How do things differently to inland homes, and in which ways must you go the extra mile?
There are other considerations to have in mind too. Read on for a breakdown of the things you should consider when securing your own oceanfront home.
Fluctuating Prices Between Properties
People want the best prices possible for the homes they’re selling. However, approaches can be different with oceanfront homes because each one is wholly unique. Because of this, prices can fluctuate enormously.
Many factors affect the cost of homes for sale. These can be:
- How private or touristy the nearby beach is.
- Activities that can take place on the beach; surfing, snorkelling, speedboating, etc.
- Distance between the property and the beach.
- Cleanliness of the beach and how well it’s maintained.
Because things vary so wildly, it’s important to work with real estate experts that can guide you fairly. Their knowledge can be an anchor through any uncertainty. The real estate agents at EZ Home Search will endeavor to help you here, as they’re highly experienced with coastal markets. Their local knowledge of real estate in Wilmington can be an asset, too, so they’ll have more in-depth consultations to offer. After working with them, you’ll feel more confident and prepared to buy your dream oceanfront home.
Investment Strategies
All property purchases are an investment. Oceanfront homes can be an incredible asset if you perceive them correctly and utilize them strategically.
Though prices can fluctuate from property to property, the value of an oceanfront home will likely hold in your lifetime. After all, they’re always in demand, and they sell quickly. If you ever want to sell it on, you’ll likely be met with a stimulated market willing to jump through whatever hoops you set to seal the deal.
That said, if you’re looking for a property to pass down through the generations of your family, an oceanfront property may not always be suitable. There can be elements like climate change and coastal erosion to consider, which may affect your investment’s long-term viability. You may not be alive to see it, but you may want to rethink things if you want your home to be part of a multi-generational legacy.
If any nearby beaches are hustling and bustling with activity, that can also inform your investment decisions. There’s plenty you can do with an oceanfront home if it’s located within a vacation hotspot.
Vacation Home Appeal
Some people buy oceanfront homes without making them their primary residence. They’ll use it at optimum times of the year as a vacation home instead and either rent it out to friends or let loved ones stay when they’re absent.
The problem here is that these individuals are usually highly wealthy. This means they typically buy the property with cash and at a great speed, leaving you in a more challenging situation if you want to be a serious competitor here. Unless you’re willing to snatch up these homes, you may feel like you’re on the backfoot more often than not.
That said, you shouldn’t let these circumstances be too offputting. So long as you are patient, committed, and strategic in your approach, there’s always a chance you may be able to both find and purchase the perfect waterfront home for you. Learn the market’s nuances and types of individuals drawn to it, and operate accordingly.
Perhaps you can find inspiration here, too? When you secure your oceanfront home, you could rent it out to vacationers while you travel elsewhere. There’s no need to be there all the time. Moreover, people would likely pay many dollars to stay in your property, even for a short time.
The Activities of Tourists
As mentioned beneath the heading above, tourist activity can influence how appealing a beach truly is. It’s worth thinking about these considerations more deeply, though.
After all, beaches have their own sense of character and atmosphere. They can be bustling with crowds and families, restrict the presence of pets, or have peak periods with parking regulations. Some can stretch on for what seems like miles, while other beaches are more like tucked-away coves.
Remember, even if you think you like being around tourists, you may only have had that feeling when you’re a tourist yourself. To live in their proximity daily can be a different experience altogether. Could they litter the area? Will some be noisier than others? Many factors are at play here that aren’t in your control.
The hustle and bustle of people enjoying life nearby may still appeal to you, but if you envision yourself living on one of the quieter beaches in the US, it may help you reevaluate what ambience you wish to enjoy. Either preference is valid as long as you’ve carefully thought about it.
Maintenance Considerations
All properties require occasional maintenance. Oceanfront properties aren’t exempt from that and have a unique set of obligations to tend to as well.
After all, these homes are located in coastal areas, which means they’re typically first to take the brunt of the elements. Winds can be especially harsh. If the property is in an area where things like hurricanes are known to happen, then there’ll be some challenges there as well. You can persevere in these instances if you have a plan in place for storms and keep an eye on weather reports and humidity levels.
Water levels can also rise and fall throughout the year, whether by tides or other causes. Establishing rain gardens can soak up much of the excess water. You may also need to have measures in place to protect your outdoor furniture. Varnish the foundations of the property if they’re wood, look out for instances of mold, and apply silicone spray or WD-40 oil to metal parts of your property to prevent corrosion.
Natural finishes on your materials can be easier and more affordable to maintain than painted surfaces, too. Native plants will also tolerate higher salt and moisture levels than others, so be sure to plant those in your yards.
It can seem like there’s a long to-do list here, but as long as you’re diligent and remain prepared, the work isn’t too taxing. Moreover, you may even enjoy the extra elements of homecare. It’s part of the lifestyle that oceanfront homes come with and can equip you with new skills and interests as you go. It can all be an immersive and rewarding experience.
Conclusion
Owning an oceanfront home is a privilege, even with considerations. Help is available with specialist real estate agents to help you find your footing in the property market. It’s also worth considering the potential for investment strategies and vacation appeal. While tourist activities and maintenance requirements can present concerns, even those can be positive if you have the right frame of mind. Ultimately, if you’re more informed about these things, you can better enjoy securing and living in your dream oceanfront home.