Things to know before you invest in a beachfront condo
It’s difficult to go wrong if you buy a condo on the beach for the sand. However, if you’re buying a condo as an investment, it is important to be selective.
It takes effort to make a good investment. Even a novice investor can make a great investment if they invest their money well.
This is the rundown of everything you should know before you sign the contract for your condo on the beachfront.
1. Location, Location and Location
You want to make sure that the area you choose to live in is suitable for your needs. You may consider the area’s schools, square footage, safety reports, convenience, or any other factor.
The location is crucial when you’re looking for a rental property. However, each property is different.
Is it within a reasonable driving distance of your primary residence?
Sometimes you may need to take care of things yourself. If the property is difficult to reach, you can hire a property manager to help you avoid this. To manage property-related emergencies on-site, you will either need to live close to the problem or hire someone who is trustworthy.
It is important to consider how appealing the property will be to your target audience.
You may want to screen potential renters for your beachfront condo to prevent irresponsible and immature tenants. The beach is a popular destination for college spring break students.
You should make sure that you have a security deposit in place if your condo has valuable furnishings. This will protect against any accidental damages.
Attractions in the Surrounding Area
There are areas that cater to singles and others that are more geared toward couples or families. There are also areas that provide a tranquil, peaceful pace with beautiful natural scenery as their main attractions.
Family-friendly areas or places that are popular for partying tend to be busy during peak season. However, the right condo can also be rented in other locations.
Is there a nightclub, amusement park, historic home, or state park in the area? You can find out a lot by looking around.
Is this a well-known vacation spot? It will require less marketing to get business, and you can be more selective about who you rent to.
The beaches always have something for vacationers.
TripAdvisor reports that 13 of the 15 most popular U.S. summer vacation spots are near beaches. California and Florida are among the 25 most popular spots for summer vacation rentals, as is not surprising.
California and Florida are known for their beautiful beaches. These states are highly sought-after during the summer months and holidays. California and Florida are not the only beaches that get as much attention.
This post was written by Dayana Susterman Dotoli. Dayana is the head real estate agent for the Tiffany House In Ft. Lauderdale Beach. Dayana has assisted over 150 individuals with buying, selling, and leasing at Tiffany House. The Tiffany House Residences is a 12 story tower, offers 129 residences, including 1, 2 and 3-bedroom condominiums and townhomes, with exclusive, resort-style amenities and views of the Intracoastal Waterway and the Atlantic Ocean. To view our Fort Lauderdale oceanfront condos, Contact us today!