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REAL ESTATE

Oceanfront Condos: Reasons that Make it an Investment to Treasure.

Oceanfront Condos: Reasons that Make it an Investment to Treasure.
The Siliconreview
12 April, 2021

Got a lucrative opportunity to buy an oceanfront condo and wondering if you should grab it or not? Your answer is here.

How amazing can it be waking up to the sound of the sea every day? How about a nice cup of coffee next to an ocean view with a picturesque coastline teeming with life? 

Imagine a day filled with sunbathing, surfing, swimming, and checking out all the fine dining establishments outside your door.  As you wind down the day, you can enjoy a glass of wine watching the beautiful sunsets. Isn’t that just a picture of an idyllic life? You have spent over a year in lockdowns and anxieties; isn’t it time you started to live every day of your life like you are on vacation?

Well, it all can come true for you if you own a front-facing residence by the beach.

As lucrative as they can be, oceanfront properties are generally very expensive. It’s not only because they are such wonderful places to live, but their significant renting value during the peak seasons makes them outstanding and highly demanding possessions to trade.

However, if you want a home by the sea, it is always better to buy a seafront one. For other positions, you may still catch a view of the beach, but it will never be as great as those of the oceanfront properties. Therefore, if you haven’t found your dream home by the beach, you must always keep on checking for a good deal to make the right move.

While affordable oceanfront property sounds like an oxymoron, it is indeed very possible in Myrtle Beach, South Carolina! Don’t believe us; check out these condos for sale in Myrtle Beach!

If these unbelievable listings didn’t convince you why you need to give Myrtle Beach, we have put together a list of reasons you would want to make Myrtle Beach home.

A Valuable Property

Any property in a popular holiday destination is considered valuable for its high demand both among tourists and real estate investors. Therefore, you can always expect your oceanfront condo to be in high demand throughout the tourist season.  An oceanfront condo rental can also fetch you top dollars in rent.
On top of that, you can rest assured that you will have buyers ready to buy the property from you for top dollars. So, if you ever want to sell your condo, you can expect a good return on your investment.

A Dual-use Property

To stay or not to stay, if that is the question, then you can swipe it out of your head since your oceanfront condo can be used both as a vacation home and a rental space consecutively.

The trick is simple- give your house up for rental during the peak seasons and earn a large sum, then when the season is down, you may move back to your beautiful home and enjoy your time by the shore. Thus, you can save money for your rental home for a significant amount of time in a year while living the life you desire.

On the other hand, if you have a small family and can spare a room, you may rent that out to the tourists looking for cheaper accommodation or a homestay during the off-peak season. It's a great way to make money from your space while you are living there.

A Low-risk Property

It would be pretty unlikely to struggle with generating rental income since these properties remain booked all around the season and more. Also, as stated earlier, the rental of these properties is generally gainful enough to justify the owner's investment.

In fact, it goes mad-high in a super peak season, allowing the investor to make an ample amount of additional profit. With all these productive factors, oceanfront condos are considered low-risk properties.

High-income Resale Value

For their highly demanding position, oceanfront condos have always been real estate investor's favorite. That's the reason why you can expect the resale of your condo at a great price, which increases day by day.

Therefore, it can be a great retirement plan as well. Moreover, since real estate escalates on its own, it lets you enjoy the fruit, almost doing nothing.

Outstanding Location

The location of your condo is the highlight of your purchase. Besides money, it brings you peace and satisfaction of having a home surrounded by astonishing beauty- a place to indulge in the oceanfront lifestyle.  

Things to Consider while Buying an Oceanfront Condo

  1. Always consider market timing while investing in a property. Consult with real estate experts before making a move.

  2. Property management is a vital point. If you are not a local and buying the condo for rental purposes, you will need to get someone to look after the property maintenance. Hire an expert or professional, even though a bit pricier. You must consider this investment to ensure your desired return.

  3. Check the property well before buying; never take a chance with a weak roof in a coastal area.

  4. While earning you big bucks, both the flood risk and insurance will be pretty high for your oceanfront condo. Therefore, making sure your condo is built well with flood mitigation technologies will make your investment worthwhile.

  5. Inspect the weather beforehand; consider the number of floods or hurricanes it faces annually, and make sure your property is not in the high-risk zone.     
  6. People rent oceanfront condos primarily for the beauty that surrounds the outdoor surroundings. Therefore, check its veranda and window positions. See if it has a terrace, swimming pool, and outdoor recreation area to appreciate the value of your property.
    Being in a desirable neighborhood with convenient amenities is equally crucial for tourists. So, be sure to check for the neighborhood factor.

       

EndNote

No matter how dreamy it may look, buying a property is seldom a foregone conclusion. However, the key is to have a clear understanding of the opportunity and making the most of it when life gives you a chance.