It is always an exciting feeling of owning a beachfront property in Goa! After all, that is what Goa is famous for. Fortunately, when scouting to buy a seafront property, there are quite a few coastal towns and beaches to choose from. Although selecting the right beach house isn’t a daunting task but finding the right one can take a little searching and hunting. Before commencing your search, ensure that a ball-park budget is defined along and space requirements are well understood along with a comprehensive understanding of the financial and the weather-related risks as well. Engage a professional Realtor who has extensive experience in the purchase and sale of real estate which will make things a whole lot easier.
As you start your hunt with of beach house, see to that you consider the below things in your house buying process:
- Foundation and Construction
If the hurricanes regularly frequent the beach town or not is a top priority to ensure that the coastal home is as weather-proof as possible. Otherwise, because of bad weather, all the hard-earned investment might get destroyed. When the area seems to have any high flood risk or plenty of potential for storms, a beach house built on stilts is a great choice. Another structural factor is the villa being wind and flood resistance build with sufficiently strong materials, to withstand high temperatures and heavy rain. Concrete and naturally durable wood are some of the best building materials for coastal homes.
- The HOA Fees or Property management
If your main residence is not a beach house, you might need a kind of property management service to look after the house while you are away. Typically these services include pest control, landscaping, maintenance, and general upkeep. The HOA may take care of such needs when the beach house is situated in the HOA community. Fees can be expensive for these services and should be taken into account in the beach house budget.
Never forget to consider the ceiling when you buy a beach property. The last you want is to buy a home only later on to find out that the roof must be replaced. Due to the harsh weather conditions in most coastal regions, the roof of beach houses will certainly wear more than the average home. It is best to purchase a beach house with a new roof built with durable weather-proof materials. A rooftop replacement can cost around 25,000 dollars.
4. Proximity to the Shoreline
Many consider the proximity to the water as the main factor when planning to buy a beach house. Living by beautiful shores does have its pros and cons, something that needs to be weighed in before committing to a breach-front home. For instance, while living near the water is undoubtedly practical, and has excellent value for resale, the risks to flooding and insurance rates will certainly also increase. However, if the structure is built with high-grade building materials and the homeowner can afford possible repairs, it may be worth additional maintenance to live close to the water.
5. Durability of Windows
The windows of the house should be an essential consideration when purchasing a beach house. Durable windows will protect your investment against potential wind damage and wind-borne debris in a severe storm and hurricane. If you plan to buy a beach house that does not have sturdy windows, we strongly recommend that you install them soon after moving in. They protect your house and even reduce your insurance costs, enhance the energy efficiency of your home, and reduce the noise level in the home.
6. Outdoor Living Area
One of the reasons for buying a beach house is to enjoy the fantastic outdoors. The living spaces external to the house must be considered as well. Do you have a porch or a patio? How about a view of the sea? Is it quiet or crowded? It would be nice if the beach house has leisure areas where the family could just relax or unwind or even a swimming pool. Whatever aspects are considered important to you must reflect in your potential purchase to keep make your stay comfortable.
7. Risk of Floods
In addition to wind damage, damage can be caused by hurricanes and storms can lead to flooding. For this reason, before you buy a beach house, also consider the potential of flood risk to the house. Inspect the structure to understand whether it was constructed with flood-resistant materials. Do a bit of research to understand whether the house is situated in a high-risk flood zone. Even if the coastal home is not situated in a high-risk flood area, flood insurance may still be required. Also, consider whether the house is on an uphill slope or slightly high path to prevent floods in heavy rain.
8. Rental Income
The possibility of renting the beach home will make it a lucrative investment as it can generate a steady flow of income. After considering the maintenance, monthly expenses, and bills, and the income from the rentals, the beach property can independently take care of itself. If the plan is to rent out the property for most of the year it also needs to be fully furnished with all modern amenities. There also could be the need to have a caretaker at the property to manage guests. Look up rental rates in the area to get an idea of the average rentals and accordingly budget for expenses.
9. Insurance rates
It is always advised to opt for home insurance that covers flood and burglary insurance especially at a property that will not be your primary residence. A comparison of rates should be done online before you make this purchase, the rates do differ drastically amongst different companies.
It is always beneficial having nice neighbors as the last thing you want is to buy a home near a frat house. A bit of research on the area will give you an understanding of what the area looks like.
Get Ready to move to the beach house of your dreams!
So you have found your dream beach house and are prepared to move. That’s Great. All the best and also happy about moving!