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.
There are quite a few pros and cons when you decide to buy a beach property. First and foremost there is no doubt that beach properties in general are very good investments if they are located near the beach. Even as an owner you are not able to stay in the beach resorts on a permanent basis, you will be able to generate a lot of revenue byway of rent especially during the peak tourist seasons. Hence, well located beach villas can be excellent source of revenue for a major portion of the year.
The next important advantage is that you can pay a visit to these beach homes once or twice a year and can save thousands of dollars on rentals which you otherwise would have paid. You could spend a few days and enjoy with your friends, family and relatives without being bothered about hotel accommodations.
On the flip side, there are some issues which must be taken into account while buying a beach property. Most of the beach properties are situated near the water front and therefore they are prone to the vagaries of nature. Therefore before buying these beach properties they should be examined thoroughly by a structural engineer. You must also take the help and services of a good property valuer to get a reasonably accurate estimate about the value of the beach property.
While valuing the beach property you should ensure that the valuer takes into account the overall condition of the beach, the place where it is located, the insurance premium that is being paid for the property and the occupancy levels expected in the beach resort if it is given out on rent.
Last but not the least, you must be sure that the beach property is not tool old. Old properties might come at a cheaper price but the quality of the resort might have been damaged beyond repair.
Before we draw a conclusion whether a beach property is a good investment or not, there are quite a few factors must be taken into account. When one looks at the track record of beach properties, there is no reason to believe that they are bad investments. However, there could have been instances where some wrong decisions may have led to unsatisfactory returns as far as these beach properties are concerned.
When you are planning to buy a beach property you should be prepared to do your homework correctly. First and foremost you should be sure that the beach property is located in the right city or town. For example, if you a have a beach villa in Cyprus, there is no reason to believe that is not a good investment. This is because it is considered one of the most favorite beach resorts not only in Europe but also across the world. Any investment in such beach resorts will certainly fetch you excellent returns over a period of time.
The next important point is to be sure that you have a valuer by your side having a look at the property from various angles. It could be anything ranging from the insurance premium payable on such properties to the overall condition of the construction of the building. These reports have a very important bearing on the overall value of the entire villa or building.
It is also important to take into account the revenue that you will be generating from the property over a period of time. This also is very vital because you may have to borrow funds from banks and financial institutions for funding the purchase of such villas near beaches. The revenue should be comfortable enough to enable you to repay the loans easily and also leave some excess funds for various purposes.
Going by the above facts there is no doubt that buying a beach property is quite a task which should be done only after careful evaluation and after going through the right due diligence. It should never be hurried through or there should not be any decision that is taken on gut feeling alone.
However, it is important to keep certain important facts in mind while buying a beach property or villa as they are commonly called. The biggest challenge when it comes to buying such properties is the quality of the same. Since good villas are located very close to the sea shore it is quite likely that it could be subject to much more normal and tear when compared to other properties that are located in land. The high content of sodium in the atmosphere may corrode even the best of constructions. Hence, before buying such properties you should be certain that it has the best of anti-corrosion properties in it.
A good way of finding out more about the worthiness of a sea resort is to have a feel about the insurance premiums being paid for it. The higher the insurance premium, the higher the risk element involved in it. This apart, location of the villa is also an important point that needs to be taken into account. The main reason why villas are bought is to enjoy the beauty of the beaches. Therefore good villas should always be situated facing the sea front and not very far from it. They should afford an unhindered view of the beach ahead.
While these are some important points that needs to be taken into account, before buying a beach villas, however new and or old it might be, you have to take the help and assistance of property valuers. The market value of the villa is just a commercial indicator. But if you wish to have more qualitative and subjective information, you must take the help of these professionals. You must always look for property and real estate appraisers and valuers who have experience and expertise in this particular area. Conventional real estate valuers may not be in the position to value beach properties where a number of other factors and yardsticks may also need to be applied.
Keeping the above factors in mind, you have to be patient when you are planning to buy out a villa. You must be sure that it will be able to generate revenues apart from increasing in value terms over a period of time.
To start off, one has to understand that investing in beach properties is not the same as investing in ordinary properties. There are quite a few reasons for this. Beach properties are exposed to the elements of nature more than other properties and hence it is quite normal for the insurance premiums to be high for the same. This fact should be factored in when deciding to buy these properties. Secondly, beach properties should be looked at from the point of view of generating regular revenue incomes for a long period of time. Hence, all those who are keen on generating passive income would certainly find lot of pleasure in investing in beach properties.
Whenever you have principally decided to invest in beach properties, you have to bear in mind that it is very important to take the services of a good property valuer. There are a number of reasons why a valuer is the first professionals you should look out for when investing in a beach property. There are a number of parameters and factors that must be taken into account when going in for valuation of beach properties. Location is an important consideration when buying such properties. The main purpose why people go to beach resorts is to enjoy the wonderful view of the beach from their resorts. If this very purpose is defeated then the main reason for which it is being used would get defeated.
The next important point that needs to be taken into account when going in for beach purchases, is the quality and condition of the building. No one other than a property valuer would be able to find out and give the prospective buyer a clear picture about its condition. As mentioned above, since elements of nature are very tough on beach properties there is every reason that it could be damaged beyond repair. Taking all these facts into account, at the end of day it would be much better to go in for new beach properties and here too the role of a property valuer is of great significance and importance.
First and foremost, you must have a clear understanding about what exactly a beach property is. In simple terms any home, building or apartment that is constructed very close to the sea line could be termed as beach property. Ideally beach properties should be overlooking the sea and they must be able to offer a wonderful view of the beach ahead. The main reason why people go in for beach properties is to spend some quality time in peace and in close proximity to the oceans. Hence, if this is not possible then such properties may not qualify for being called as beach properties.
The next important point to be taken into account is the present state and condition of the construction, whether it is individual homes or apartments. In most cases apartments do not qualify for being labeled as beach properties. The best way to find out the condition of a beach property would be to hand over the job to a property valuers or appraiser in Brisbane. They are the right professionals who could be relied upon. They have the right experience, expertise and wherewithal to get the job done professionally, thoroughly, and also within a short period of time.
Beach properties though wonderful places to spend holidays are prone to risk from the elements of nature. Whether it is storms or hurricanes, or earthquakes and tsunamis it is quite likely that beach properties will bear the brunt of nature’s fury in such events. Hence, the insurance premiums are quite high for beach properties. This factor is something that is very carefully looked into by valuers. They use various calculations and permutations taking these premium rates and inputs. It therefore makes a lot of sense to take the services of these professionals before you get into the act of buying a beach property. The legal status and the documentation purity are also checked by valuers which also forms an integral part of their job.
It is now very common to come across hundreds of people to invest in beach properties because they believe it is a high return yielding investment. Is it really so and if so what are the factors for and against such investments. Let us try and find out.
There is no doubt that most of the investments in beach real estates have yielded positive returns and very handsome returns in many cases. However, on the other hand since beach properties by their very nature are prone to risks, there are many who have lost heavily on such deals. Hence, while overall investments in beach properties may not be a wrong decision, you should be careful while going in for it.
Value of beach properties may not be always guided by market factors alone. There could other considerations such as slump in tourist business, unexpected weather deterioration and so on. Hence you should take all these factors into account while investing in real estate. The next important factor is to understand the importance of appointing a real estate valuer for appraising and valuing beach properties.
They will be able to play a big role in enabling you to find out whether such an investment is right or wrong. They will look at some important parameter including the insurance premium that is being paid on such beach properties. The higher the premium more the risks are as far as investment in such properties are concerned.
The location of the beach is another important factor which will also feature prominently in a valuation report. For example, if the villa is situated in a famous location like Cyprus it certainly makes good sense in buying the same because it is bound to be occupied for a major portion of the year because of inflow of tourists. However, here again the final word should rest with the property valuer given his experience and expertise in this field.
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.