Many people want to someday retire to a great piece of beachfront property where they can enjoy fun activities and be treated to spectacular views of sunrise and sunsets every day. In prime locations, properties like this can go for a lot of money. La Jolla real estate, for example, will contain La Jolla homes for sale that boasts of some of the most desirable addresses in the United States. It’s certainly not cheap, but there are many good reasons why people still want to own beachfront real estate. Here are a few of the major reasons:
- Resilience to property devaluation. – Because beachfront properties are quite limited, the demand for it will normally be higher than the supply of properties for sale. Of course this varies on the location because local real estate markets tend to be qutie fragmented. Generally speaking though, beachfront properties have the tendency to be more resilient to property devaluation than other types of properties.
- The potential to become a good investment. – In terms of making money off the property, beachfront real estate can be quite a great investment. What you can do to make mortgage payments to the property a bit more manageable is to rent it out. Many people will pay to have accommodations near the beach. You can rent it out to families looking to spend a few days near the beach, or to writers who need a quiet refuge where they can write for the whole summer. Short term or long term rentals can be quite lucragive. Of course there are other considerations to be taken such as the kind of maintenance landlords make on their rental properties as well as the responsibilities of landlords towards their tenants. There are income taxes to be paid too. If you are able to buy a piece of property in a good rental area (somewhere people usually go to in order to rent), renting off your property while you’re not using it can be a great way to minimize the amount of money you put towards paying off the property.
- Using it as a vacation property. – If you don’t want to use the property as a rental and you prefer to use it as a private rest house, then you have the privilege of being able to enjoy beautiful days on the beach with your family. It could be quite a satisfying accomplishment, to be able to acquire such a great piece of property. If you want to use it as a vacation property rather than rent it out, there are also considerations you have to think of. Typically, vacation homes have higher insurance premiums because of the fact that it may be more difficult to protect it if you’re not always in it. It also would require an entirely different kind of maintenance because a house that doesn’t often have occupants would be a bit harder to maintain. Aside from these, there are several fees associated to owning beach houses, such as fees to be able to have a private access to the beach, association dues (especially for exclusive resort communities), and other fees. Even if you can consider beachfront properties to be expensive properties, many people still dream of owning one because of very obvious reasons.