If you are dreaming about owning the ultimate home for you and your family then certainly it makes sense to go in for a beach house. It is quite likely that you may not be staying in a place where such amazing beach houses are located. Nonetheless, investing money in such properties are quite beneficial. It would be interesting to have a look at the reasons why it makes a lot of sense to invest money in a beach property.
First and foremost, there is little doubt investment in a beach house certainly will yield you great results. There are a number of beach owners who have seen their properties doubling or trebling in value within a matter of 10 years or even lesser time. Hence, from an investment perspective there is hardly any doubt that beach properties have a lot to offer. However, first thing you should do before buying a house is to contact professional property valuers Melbourne to get right value of property you are buying. This exercise will ensure that you are not paying more than its worth.
The next important factor of course is the facilities it offers when you are on a holiday. Thousands of people frequent beach resorts on a regular basis. Getting the right accommodation during Christmas and other festive holiday could be a big problem in beach resorts. In such a situation if you have a beach home of your own you certainly are very fortunate and you will be the cynosure of many eyes.
The next important factor is the passive income that you could generate from your beach home. You would be staying in such beach houses only for a new days or weeks at the most. The remaining period could be used for generating rental income. There are many locals who would not mind taking your beach home on rent. You could use the income in many ways including servicing your EMI that you are eligible to pay for availing loan to construct the beach home. Taking all these factors together it does make sense to go in for a beach house if you can afford it.
If you are planning to buy or sell any property, however big or small it is there is no doubt that you have to pay a lot of attention to the valuing of the entire property. While valuation is a pre-requisite for all the properties there is something special about valuation of beach properties are concerned. There are some other areas which might have to be looked into when valuing such properties. These properties are located near sea shore and hence the normal wear and tear may not be applicable to such villas and other such apartments. Even the best maintained properties near beach areas are subject to increased wear and tear and the elements of nature are quite tough on them.
Hence when valuing beach properties this important point must be taken into account. Let us over the next few lines try and find out what are the many reasons why a thorough valuation of beach properties is more than important when compared to normal properties. Insurance is a compulsory requirement for almost all beach properties. The amount of premium that is being paid for such properties has a direct bearing on its valuation. For example, the higher the premium the higher the risk perception which ultimately will lead to a reduction in the overall value of the property.
Most of the beach properties are bought by persons who may not be actually living in them. They may use the properties only for a few days each year. The rest of the time the properties would be rented out or leased. Hence, when valuing such beach properties the level and period of occupancy is something that has to be kept in mind. It is akin to valuing a hotel where the highest importance is accorded to occupancy rates and levels. In the same light when valuing a beach property the valuer should keep in mind the period for which the beach property stays rented and is able to generate revenues from it.
This apart, the location of beach properties is also very important. It is always better to look for properties that are situated on the sea front and which offer a panoramic view of the sea that is in front of them.
First and foremost you should take the perception away from your mind that beach properties are lonely for the elite and the rich. Today, with bank loans and other facilities being so easily available it should not be a big challenge for you to buy out the right beach property. However, you should pay a lot of attention to the word “right” as far as beach properties. This is what this article is all about.
The first point you should take into account when buying a beach property is its location. It should not only be easily accessible but they should provide a panoramic view of the entire beach front. Without this being available to you there is no point going in for such properties. You should be able to enjoy the scenic beauty associated with the beaches.
The next important point that should be on the top of our mind is the insurance rates applicable for beach properties in that area. As you know, beach properties are vulnerable to damage because of the elements of nature and hence the insurance premium rates are higher when compared to other real estate properties. Hence, you should compare the various premium rates before actually going in for such a property. This calls for comparing the premium across the spectrum and you should be willing to go through that exercise.
While you should look for a beach property that is close to the shoreline it should not be too close for comfort. It should be far enough to prevent possible damages from cyclones, heavy rains and perhaps even tsunami. But at the same time as mentioned above it should be close enough for you to move around the beach by walk without too much of an effort.
The construction of the beach property should be closely examined before you decide to buy it out. Since beach properties are more prone to corrosion and damage because of salt and sodium content in the air this point should be factored in while examining the building for its safety, strength and stability.
One of the top tourist attractions for millions of persons across the world is without doubt the dazzling beaches that are spread far and wide. They are not only famous in our own country but across the world. Beach resorts and hill resorts are often considered the two most popular holidaying options for many. While there are some amazing attractions as far as hill resorts are concerned, many tourists often have health challenges which prevents them from taking full advantage of it. On the other hand there is no such problems as far as beach resorts are concerned. They are generally acceptable to all age groups of persons and normally health challenge is not something that bothers those who are on a visit to beaches during holidays.
Given the above facts is make a lot of sense for you to invest in beach resorts However, before going in for such investments there are some important factors to be borne in mind. Since beach properties are always open to damage caused by elements, it is very important for you to ensure that they are in good condition when you plan to buy them. Finding out the condition of the property is quite a job and you should get it done only through a qualified and approved valuer. Hence the role of a good valuer becomes extremely vital when you are planning to buy a beach property. One of the biggest risks is damage to foundation structures which could be caused by corrosion because of its property to sea water.
The next important factor to be considered when buying beach properties is the location. Location plays a role because the value would depend on where exactly the property is located. Ideally beach properties have better value if they are located near the beach fronts. This makes viewing of the sea that much better for inmates. When you are planning to buy the beach property for renting or leasing out purposed for a major part of the year, this factor becomes extremely important.
Spending holidays with friends, family and relatives and looking at it from an investment perspective are perhaps the two main why people buy beach properties. It is something that is often considered a status symbol apart from providing the convenience of staying in a beach resort once in a while. The expenses incurred for staying in hotel accommodation can also be saved. Since the owners would be spending only a few days or a few months at the most in these beach resorts, they can also earn constant revenue by renting out the same for a major part of the year. While all these are fine and make perfect sense, when buying such properties there are quite a few important points that should be kept in mind.
First and foremost, we have to remember that beach properties do not come cheap and hence as a buyer you must be prepared to spend quite a few thousand dollars. The next important point is to be sure that the property is in good condition. Beach properties while being great investments are also subject to more than normal wear and tear because they are situated near the seashore. The elements are likely to impact such properties more severely than properties located deep inside the land. Corrosion from salt and sodium are important points to be considered when buying such beach properties.
So the first step that should be taken up when deciding to buy a beach property is to have it valued thoroughly by a professional who is independent, qualified, experienced and of course having the certificate to perform property valuations. When valuing such beach properties amongst the various other factors, prime importance must be given to the condition of the same in the light of the fact that they are situated just beside the sea shore. Even a few years of bad maintenance could have a big impact on the quality of the property and hence valuing the property from this angle is also very important.
Further when valuing beach properties, care should also be taken to have a clear idea about the location of the property. Beach property as the name suggests should be located only near the sea-shore failing which the main objective for which it is being bought gets defeated. It should also be easily reachable and should have good roads. They should preferably have other modes of transport. All these factors should also be taken in to account while valuing these beach properties.
Apart from the above, there is no doubt that good valuers would also take into account other factors such as a legality of the documents, the tax payable and paid for the properties and so on. Hence, before buying a beach property going through the entire process of due diligence is of extreme importance and significance.
At the end of the day, whether it is a beach property or some other property, the main objective is to ensure that we are able to get some profit from such investments. Like all property investments, investing in beach property is also a long term one and those who are into such investments are perfectly aware of it. However, at the time of buying the same, the buyer and the seller are well within their right to be sure that they are into a transaction that is perfect from all points of view including the legality and fair market value of the same. This can be best ensured with the help and assistance of a good valuer.
So if you are one of those who are planning to invest in beach property, you should first and foremost take the services of a good property valuer. Satisfaction apart there are also some statutory and legal requirements which make it mandatory for each buying and selling transaction to be supported by an independent valuation of such properties. They certainly play a big role in having a fix on the property tax that needs to be levied. They also play an important role in fixing the capital gains tax, especially when the properties are quite old.
Beach homes are often subject to rapid wear and tear and therefore here too the role of an independent property valuer becomes very important. You should also keep in mind that if you wish to go for mortgage loans it is mandatory for you to have the property valued by a professionals. Hence, taking all these factors into consideration there hardly is any doubt that proper and correct valuation of beach homes and villas is a must under any circumstances.
While there is no doubt that beach homes can certainly be a good investment option, many people are hesitant to take the plunge. The main reasons are the faraway places where these properties are usually located and secondly the uncertainties associated with in terms of the weather and elements of nature. Further the investment needed for beach properties could also be an inhibiting factor for many investors. However, most of these are opinions but not facts. If one looks at the financial disaster that struck the world in 2008 and beyond, those who had stayed invested in beach homes have started making money and the returns are becoming very lucrative indeed.
Coming to certain advantages about beach homes, it certainly can kick in a lot of continuing passive income by way of rental income. Especially when it is situated in a highly popular beach resort, you could be sure about having occupancy almost throughout the year. Further, in terms of value appreciation it has generally been found that beach homes have a tendency to increase in value at a faster rate compared to other properties in other places.
If you are a looker and have your ears and eyes to the ground, you could pick up really good beach homes when the demand is sluggish or when the economy is in a downturn. Things will not remain sluggish and when there is a turnaround in the economy the prices are certain to rebound. You could at that point in time make a lot of money for the prudence and vision that you had shown previously.
Many people build or buy beach homes with the intention of spending their vacations in these beautiful places. Travelling places on a vacation today is becoming very expensive proposition and therefore having a beach home makes a lot of commercial and economic sense too. Apart from saving money on hotel and staying accommodations, you would also be sure that your investment in beach home is growing in value as time progresses.
If you are fortunate enough and if you have enough money and time available with you, there is nothing more fulfilling than spending your time in a waterfront beach house. It could be defined as the ultimate in luxury and comfort. It is like having a vacation all through the year rather than spending a few days and that too in a hurry. Since you would be living in the beach home permanently, you would be in a better position to take care of the same and see that it properly maintained at all points in time.
Beach front properties are without any doubt the ultimate that one could ask for. However, for many there always has been the feeling that such beach properties are reserved only for the rich and privileged. But, this is not exactly right because as home loans become affordable and as disposable incomes even amongst middle class become higher, many not so affluent groups of persons are also buying such beach properties. While this indeed is great news there are some important things that should be kept in mind while buying these properties. Let us over the next few lines try and learn something more about them.
The main objective of buying a beach property is to ensure that you have a good view of the entire beach. Hence, this is the most important consideration when buying such properties alongside property valuation by Sydney Valuers. Whether you are buying the property from an investment perspective or for sheer enjoyment, you should keep in mind that unless you are able to get a clear view of the beach, the very purpose may not be served.
While it is important that the beach property should be reasonably close to the shoreline, you should take care to ensure that it is protected well from the ill effects of storm, hurricanes and even tsunami. Soil erosion is a major problem as far as beach properties are concerned and this factor should also be kept in mind while buying such properties close to the shore line. In spite of the best efforts to protect your property from the vagaries of nature it is quite possible that it may suffer wear and tear or even total damage because of forces of nature over which none of us have any control. Under such circumstances, you should always keep in mind the importance of insuring the property adequately. The insurance rates vary from place to place and you should perform some due diligence before actually signing on the dotted lines.
While it goes without saying that owning a beachfront property is both prestigious and prudent from the investment point of view, you have to bear in mind the fact that they are exposed to the elements. Corrosion is a major problem with beachfront properties and you should take steps to keep this in check to the maximum extent possible. Getting the right information about the location, the rates and other such details is very important. You should be a good user of the internet where you are sure to get a lot of useful information that could help you to take the right buying decision.
If you are the proud owner of a beach home it certainly is something that is highly commendable and appreciable. Beach homes today are very expensive and if you have been able to buy one, it speak high about your financial success. Once you have purchased the home, the next important part is to identify the right furniture for your beach home. Why should you pay extra attention while purchasing furniture for beach home? The answer for this question is quite simple. Beach homes are notorious for aiding corrosion because of the atmosphere being rich in sodium and other minerals.
Hence, whenever you decide to go in for a beach home, you should look at furniture that are corrosion and rust proof. In case you do not have such furniture you should either have them replaced or go for some anti-corrosion and anti-rusting treatments. Further if your beach house is facing the sun, you should look for furniture that helps and complements the view that comes with such location. You should be very careful to choose furniture that does not block the view of the beach or the sun in distant horizon. If this calls for having furniture custom designed so be it.
You must spend a lot of time in looking for outdoor furniture because when you are in a beach home, you would spend a lot of time outdoors rather than watching TV indoors. If you have a terrace you should ensure that it is well furnished and if possible you could also look at having a small bar where you could spend evenings with your family and friends. The right color combination, and the right material for beach furniture are also important issues that should never be given a goby when deciding the same. You should at the end of the day look for furniture that are durable and easy to maintain.
Buying any house is certainly a big ask and particularly when one is asked to buy a beach house, then things become even more difficult and challenging. Most of the beach houses are best purchased with the help of a good real estate agent. Another big challenge when it comes to buying beach homes is arranging for finance because most of the beach homes could run into thousands of dollars. This apart if you have mentally decided to go in for a beach house here are a few useful tips that could be useful to you.
To start off identifying the location of the beach house is extremely important. You could either look for a home which is just a few thousand feet away from the beach or you could opt for a beach house that is a few kilometers from the beach. If you are the one who would like to be disturbed by the visitors who frequent beaches it would be better to choose the latter option. The weather of the place where you are planning to choose your dream beach house also forms an important decision making factor. You should ideally look for locations where the weather is moderate throughout the year (not being either too hot or too cold).
The next important thing is to take into account the kind of construction and building materials that you would be using for your beach home. You have to bear in mind that when homes are constructed near beaches, the atmosphere could be heavy with salt which could damage construction materials. Hence it is important to take the right step and take expert opinion as far as choice of corrosion free materials are concerned.
Choosing the right real estate agent is another important point that needs to be given the importance that it deserves. You should take your time and identify a real estate agent who has the right knowledge about the area and is an expert as far as identifying the right beach property for that locality is concerned. The right person will certainly help you to zero in on a particular property and avoid the need to make repeat visit to quite a few spots in quest of your dream beach home. The onus will certainly be on you to explain your specific needs and requirements. This will help the real estate agent look for specific properties that will cater to your list that you already have sent across to him or her.
Once you have identified the right beach home, the next job is to be on the lookout for a good lawyer or attorney to draft the agreement and look into the various documentation process. There are a number of things that need to be checked out and quite a few of them could involve legal processes that cannot be done by anyone else but the property attorney or lawyer. He should also be capable enough to draw up contracts and agreements and have the same discussed with the seller and then arrive at a final draft that is acceptable to both the parties.
Arranging for finance is another part which also needs a lot of thought and action. Though there are many customers who could afford buying these beach houses outright by paying cash, there are some tax incentives that one needs to keep in mind. It is always important to look up at least a few banks and financial institutions before choosing the one who meets your needs in terms of loan amount, tenor of the loan, monthly installment and most important the price or the interest at which the loan is being given.