The idea of a beach home always sounds dreamy. Your own private getaway with surf, sun and sand just steps away? Yes, please! As perfect as it all sounds, there are some potentially hidden problems you should know before buying your dream oasis. No matter if you are planning to live full-time in your new home, or purchase as an investment property, there are some things that differ greatly when it comes to owning a beach home versus a home inland. Keep reading to learn how to avoid these common mistakes when buying a beach home, and click this link to read the full article.
1. Not sticking to a budget
“Oftentimes buyers get caught up in the glitz and glam of living on the beach, overextending their lines of credit and purchasing more house than they can actually afford,” says Evan Harris, co-founder and CEO of SD Equity Partners, in San Diego.
It’s not just the cost of the mortgage you have to consider, either. There are also the inevitable repairs and renovations that can come with owning any home, and particularly an oceanside property.