Model of house and key on sandy beach with sea and sky on the background
There is hardly a person out there that hasn’t considered at least once what it would be like to live next to a beach. Every morning you could wake up and drink a cup of coffee while enjoying the ocean waves. Well, if you have some money to invest, this doesn’t have to be a far-off dream. In fact, investing in beachfront property can be a surprisingly savvy way to invest in real estate. Let’s look at the top reasons why coastal properties are the best option for real estate investment.
Reasons why beach properties are the best option for real estate investment
It should go without mentioning that simply going online and buying the first piece of beachfront property you run into won’t do you much good. Therefore, in order to truly benefit from your investment, you need to find an excellent local relator and do your homework. Know that there is always a good deal to be found regarding coastal properties. But, you need to be aware of the local markets and have an effective way to close the deal.
Now, without further ado, let’s outline the key benefits of owning a beachfront property.
Vicinity to tourist attractions
As a rule, cities near bodies of water are hotspots for tourism. Apart from Las Vegas, all the most visited cities in the US are on some sort of coast. Therefore, by buying a coastal property, you’ll enjoy all the benefits of tourism. For some, this means having easy access to tourist attractions and the opportunity to meet new people regularly. For others, tourism is a source of income. A lot of people make money by offering some service or product to visiting customers. And most of those services and/or products would be viable if they weren’t situated in a tourist area. So, if you have a business idea that revolves around tourism, know that buying a coastal property is a significant first step.
A retirement plan
Retiring in a coastal city is one of the best things you can do for your older self. California is filled with retirement communities where people enjoy their twilight years comfortably. And seeing that every part of the state is within reach, you should really look into finding an excellent coastal property to purchase. There are many ways to finance your home so that you will have full ownership of it come retirement. Rent-to-own is one of the most common options for people that have home mortgages for multiple dwellings.
Living in a high-income neighborhood
Owning and living in a coastal property usually means that you will live in a high-income neighborhood. This, as a rule, tends to come with certain benefits:
- You will benefit from having decent services and stores in your relative vicinity. After all, a lot of businesses do want to cater to high-income people.
- You can enjoy the safety and comfort provided by the high-income neighborhood.
- Your kids will likely have access to a decent education.
- You will likely have decent options when it comes to job availability and professional growth.
Now, of course, not all coastal neighborhoods are high-income neighborhoods. And not all high-income neighborhoods are pleasant to live in. You will need to look into specific areas and, ideally, talk with people that already live there. That way, you will have a good idea of what the community is truly like. Nevertheless, if you are unsure where to look for a decent neighborhood, we suggest starting with coastal towns.
Renting out a holiday home
Another way in which people make money from tourism is by renting out a holiday home. If your property is situated in an area where the climate is relatively warm year-round, you will likely have wanting renters year-round. A weekend getaway to a coastal city is quite common for people of all ages. And if you have the accommodation to provide for them, all the better. The potential difficulty with renting out your property year-round is that you will have to either hire a property manager or live near it.
On the other hand, if you get property in an area with contrasting wet and dry seasons, you won’t have to live there permanently. For instance, if you get a home in San Jose, you won’t have to worry about renting between November and February. Of course, during the warmer months, you will have to either live in San Jose or visit it on a regular basis. This will likely include moving certain items from storage and maintaining your property. So research a bit to find the best fit when it comes to moving and storage maintenance professionals. This way, any relocation will turn out to be stress-free and pretty easy. But, this is just a reason more why you need to be acquainted with the area, and why you need to spend the warmer months there.
Final thoughts about buying beachfront property
As you can see, coastal properties are one of the best options for real estate investment. But, it is important to mention that a property near a coast should only be a part of your assessment. Coastal properties tend to be quite expensive. This is precisely why you need to be extra careful in inspecting them. We strongly advise you to have an experienced real estate agent by your side to help you with the process. They can enlighten you about the hidden aspects of owning and buying coastal properties. And can potentially save you from costly mistakes. So, approach your real estate investment the smart way and first find an excellent realtor to rely upon.
