Purchasing a home is one of the most exciting moments of a person’s life. In Florida, one of the best places to buy is at the beach. Many people are attracted to living at the beach due to the lifestyle it provides. There’s nothing better than waking up to a beautiful sunrise and the sound of ocean waves crashing on the shore. Along with all of this, there are a few other things everyone should consider when thinking about buying close to the ocean.
The beach is great, don’t get me wrong, but every area has its own unique pros and cons. One of the few downsides to living at the beach is that it’s more flood prone than inland areas. Many of the beach communities in Florida are islands or are bordered by water on more than just the ocean side. This increases flooding concerns, especially when the home you’re looking at is near the water.
Hurricane Protection & Preparation
Let’s face it, people who live at the beach must be prepared for hurricanes. If you think about it, us Floridians are quite lucky we get warning in advance that a hurricane is approaching. Most people aren’t afforded that same warning for the natural disasters they face, like earthquakes and tornadoes. There are many things you could do as a homeowner to prepare for hurricanes so you’re ready when the next one approaches.
First and foremost, ensure that your property is properly insured. Depending on the home’s exact location, insurance rates can differ drastically. It’s best to speak with an insurance agent to see what your rates will be before closing on your new home. Flood insurance is also a must but needs to be purchased separately as most insurance providers don’t automatically cover floods. In addition to insurance, there are different things you can install to help keep your home structurally sound during a hurricane. Storm shutters, impact rated windows and doors, hurricane straps, and concrete pilings, while costly, can help minimize any damage your home receives and protect your belongings inside.
On a more positive note, being a landlord can be a lucrative business for a beach home. Whether you’re purchasing a property to rent out as a vacation or long-term rental home, there’s benefits to both. Long-term rentals provide stability and a guaranteed income for the owner as most retain renters on a yearly basis. This is a great way for you to ensure constant profitability over a long period of time. If you’re more of a risk taker, the reward can be even greater. Short-term vacation rental homes can bring in large sums of money per month, but the trade off is a lack of long-term stability. Also, most people want to rent beach vacation homes during the spring and summer months, so you would have limited access to your home during the ideal beach weather.
Owning a beach home can bring joy to your life as it does for most beach residents. If you’re planning to live in this home full time or rent it out for others to enjoy, the things you need to know remain the same. Being aware of the evacuation zones, preparing for hurricanes, seeking out proper insurance, and seeking advice from a Realtor® regarding renting your home are all things everyone buying at the beach should do. In the end, when seeking out a new property, the beach area should definitely be on your shopping list.