Buying a beach home is an exciting investment. However, getting caught up in the excitement often leads to costly mistakes. Glenn Phillips, CEO of Beach Homes Realty, reviews mistakes beach home buyers should avoid.
- Lack of Due Diligence: Buyers may think everything will turn out fine during the buying process. Not doing due diligence often comes back to haunt buyers. Here are a few things you must investigate when buying a home:
- Home Inspection: First, a home inspection reveals things previously looked over. Additionally, the cost of a home inspection is always cheaper than unaccounted-for repairs.
- Survey: Second, surveying property lines helps buyers understand their property line boundaries. Understanding these boundaries prevents future frustration and property disputes.
- Geologic Report: Third, a geologic report shows the situation of the foundation beneath the house.
- Clear Title: Next, a clear title, along with title insurance, guarantees the property belongs to the seller. It also ensures no liens or claims exist against the property. Oftentimes, sellers sell property that isn’t legally theirs. They may do this deceitfully, or they may just not know. Proper title research reveals the true owner of the property.
- Beach Regulations: Finally, understand the regulations for the beach property. Almost every beach has regulations, and they vary between cities and towns. You should also know who makes the regulations.
- Forgetting to Consider Maintenance: The beach puts more wear and tear on properties than typical residential houses. This means beach homes come with additional maintenance costs and repairs. Knowing this ahead of time helps you plan for costs.
- Failing to Research Insurance Costs: Beach properties come with additional insurance expenses compared to regular real estate.
- Agent is not a Beach Expert: Lastly, you need an expert beach agent. Expert beach agents understand the beach environment, regulations, and market. Additionally, they know which questions to ask during the buying process.
Making these mistakes when buying a beach home can be costly. By following this guide, you’ll be better equipped if you decide to purchase a beach home. Visit beach-homes.com, where you’ll find expert beach agents who will help you avoid these mistakes.