A Simple Guide to Buying a Beach House

Congratulations on finally taking the plunge to buy a vacation home! Buying a beach house can be a great investment to use as a rental property, retirement home, or just a second home that’s available for family vacations. Whatever your plans for the beach home, you’ll want to make sure you know what you’re getting into.

To learn more about buying a beach house, read on. We’ve got you covered. 

How Close Is It to the Beach? 

The closer your home is to the water, the more expensive it will be. You might find that the price drops dramatically the further away from the beach you go (simply going across the street could drop the price ten of thousands of dollars or more). However, consider how far away it is, especially if you plan to rent. 

While the price might be much less if you are a few blocks from the beach, does that defeat the purpose of having a beach house? Are you willing to drive or walk to the beach with all of your beach gear? Really think about how far you’re willing to go because once you buy, you can’t move the home closer to the beach.

Is It Prone to Floods?

You will definitely want to review flood maps to learn if your potential beach house is in a flood zone. If it is, you will likely need to add flood insurance in addition to your regular homeowner’s insurance, which likely does not cover floods. Even if it’s not in a designated flood zone, you’ll still want to note how the house is situated and how heavy rains might impact it. 

Do your research to find a property insurance solution that fits all of your home’s needs.

How Durable are the Roof and Windows?

Hurricane-proof windows and a roof designed to sustain wind damage are important in a beach home, especially in coastal areas like the east coast, Florida, and Texas. Hurricane shutters are also important for a home close to the water as well. Check if these are included with your home or consider investing in them after closing.

What Are Your Plans For It?

If you want to buy a beach house as an investment property, what you look for might be different if you are just going to use it for personal use and not rent it. Beach homes or condos with more than one bedroom rent easier and for more money and ones closer to the beach also go for more money. Consider potential rental income if you plan for this to be an investment property. 

Ask the current owners for an idea of what they rent it for and how often it was rented in the past year. You’ll also want to inquire about potential HOA rules for short-term rentals. Some HOAs limit how many times you can rent it out in a year, how long you can rent for, and require background checks for potential renters (at your expense in most cases). 

Any HOA dues and other fees should also be considered, as these will eat into any of your rental profits.

Buying a Beach House Can Be Your Dream Come True 

Buying a beach house can be an extremely exciting, but also overwhelming, time. Make sure you don’t rush into anything and really consider the points above as you are looking for homes, deciding on one to buy, and negotiating a sales price. 

If you found these tips useful, be sure to take a look at some of our other posts. We have more helpful information throughout our site.