The whole process of looking for and purchasing the perfect home can be complicated and stressful, all the more so when you’re buying waterfront property. Living by the water is indeed the dream, and the houses for sale in Huntington Beach certainly promise the ultimate Orange County lifestyle. But while there are lots of perks to beachfront living, buying an oceanfront home also comes with certain responsibilities.
When searching for a worthwhile waterfront property to buy, keep these important questions in mind:
- Does the real estate agent have expertise in waterfront properties?
Finding the right real estate agent is one of the most important things to consider when investing in a waterfront home. The agent must have knowledge and experience specifically in waterfront properties, especially in the neighborhoods where you’re looking to buy.
Seek their professional advice to make an informed decision; your agent ought to be well-versed in the right things to look for when it comes to the condition of the beach house, its location, and its surroundings. Your agent should be able to help you understand all the facets of owning a waterfront property.
- What do you plan to do with the property?
Ask yourself what you are looking for in a property and how you will use it. Do you plan to move there, or use it only for vacations? Is renting it out in the cards? Consider how many bedrooms, bathrooms, and other inclusions you need. If you plan to make some alterations to the house, brush up on government regulations and restrictions on renovations.
- What kinds of water activities do you enjoy?
If you purchase one of the homes for sale in Newport Beach, CA, or any other beach for that matter, you can potentially have access to loads of water activities, but you’ll first need to familiarize yourself with the regulations. Some areas have time limits on swimming activities, while others have restrictions on watercraft.
Also, you’ll need to find out what activities the water is suitable for. Is the water filled with weeds? Is it safe to swim in – are there strong currents or fish that can potentially pose a danger, like jellyfish? Is the water deep enough for the kind of boat you own? Is there a private dock for watercraft or will you have to build one?
- Can you get your loan pre-approved?
Waterfront properties are typically expensive, and you will potentially need to take out a big loan. Getting pre-approved as a qualified buyer may mean having to go through closer scrutiny and dealing with a stricter approval process.
It’s best you start looking into loans before you begin your home search to allow you to better set your expectations and prepare your budget.
- What insurance policies would you need?
Since waterfront properties are more vulnerable to the elements, insurance costs tend to be higher. It’s best you determine early on what kinds of policies you need to get. In some cases, you may need separate flood, wind, and earthquake coverage.
Gather as much information as you can so you understand what you’re getting yourself into before finalizing your decision. If you’re looking at moving to one of Southern California’s exclusive beach communities, reach out to us at Principal Agent Real Estate, Inc., so we can help you find your dream property!
We specialize in helping our clients find great deals in coastal areas as well as inland city properties, like homes for sale in Irvine, CA. Give us a call at 949.610.4165 or email us at info(at)pareinc(dotted)com.