What To Know About Buying a Home on a Beach

Are you taking a look at Ormond Beach homes for sale? If so, you might be interested in purchasing a home that physically sits on the water. Just because you are looking for a home in Ormond Beach doesn’t necessarily mean you have to purchase a home with a view of the ocean; however, this can be attractive for a lot of people. At the same time, purchasing a home on the beach doesn’t come without its contingencies. There are a number of differences that you need to keep in mind if you are interested in purchasing a property that sits on the water. Make sure you work with a real estate agent who can help you navigate this process.

Expect To Have Higher HOA Fees

If you have a house that sits on the water, you should expect to have higher HOA fees. A lot of houses that sit on the beach are in a giant neighborhood. Many of these neighborhoods have professionals who come in and do maintenance work, mow the lawn, remove weeds, and lay down mulch and pine needles. Furthermore, a lot of HOAs also have to take care of common areas, which means you may need to hire additional professionals. As a result, you need to take a close look at the HOA fees. Make sure you understand how often you need to pay them. Are they due monthly? Are they due quarterly?

You Can Generate Rental Income

Next, if you have a house that sits on the beach, you can generate a significant amount of rental income. Even if you plan on living in your house full-time, you can still rent the house out when you go on vacation. There are lots of people who would love to check out the beach in the local area, and you might be able to capitalize on this rental income. If you generate enough rental income, you might even be able to offset a significant portion of your housing expenses. If you don’t plan on living in the house full time, you might be able to generate enough rental income to cover the cost of your mortgage.

Your Homeowners’ Insurance Might Be Higher

Even though the ability to generate rental income might be nice, you also need to take a close look at your homeowners’ insurance. If you live on the beach, you should expect your homeowners’ insurance to be significantly higher. The reality is that the insurance company is taking on a greater risk by ensuring a property that sits on the beach. The salt can cause damage to your house. The waves can approach your property line, leading to water damage. Furthermore, if you live in Florida, you also need to prepare for the possibility of hurricanes. Make sure you have flood insurance as well.

You’ll Have an Unparalleled View

Finally, if you decide to purchase a house on the beach, you also have an unparalleled view. There is nothing quite like owning a house that sits on the water. If you have a hard time getting up in the morning, you’ll have a much easier time doing so if you can roll out of bed and stare at the ocean. Furthermore, it will be much easier for you to enjoy the water because you won’t have to drive as far. You might simply have to step out your front door, walk to your boat, kayak, or canoe, and take in the amazing scenery.

Take Advantage of a Home on the Water

There is a reason houses that sit on the beach are generally more expensive. People fall in love with a view of the water. If you want to take full advantage of everything that a home on the beach has to offer, it is important to work with a real estate professional who can help you navigate this market. Even though the market is hot right now, the right property is out there. Make sure you reach out to someone with knowledge of the local area who can help you find the right house for you and your family. This is a significant investment, and you need to treat this decision as such.