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Best Features to Look for When Buying a Coastal Home

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Best Features to Look for When Buying a Coastal Home

It is a common dream worldwide to own a coastal home. While it does seem that any coastal home would be a good home, there are a few things you should look for prior to signing the purchase agreement. When making a purchase as large as real estate, it is vital that you think of your long-term happiness as well as your investment protection should you choose to sell the property later down the line. When purchasing a coastal home, try to keep the below checklist in mind.

Related: Why Beach Homes Are So Desirable

Outdoor Space

When purchasing a coastal home, oftentimes you spend your days and evenings outside, and thus should ensure that you have a great space for outdoor living or entertainment. Whether this is a backyard patio with a build in fire pit, front porch with a swinging bench, or a master bedroom with a large balcony to enjoy a morning cup of coffee, always check to make sure the property has the outdoor space you need and want.

Storm Resistant

Coastal homes are subject to high winds, rain, and salt from the ocean air. This can cause storm-related damages as well as corrosion. When looking at coastal properties always ask about the building materials used for the properties construction to ensure they are able to withstand the coastal weather. In addition, you should always review the areas flood warnings and flood zones.

Directional Facing

Are you a sunrise or a sunset person? Make sure that your home faces in a way that will allow you to enjoy your morning sunrise, evening sunsets, or both. Oversized windows, balconies, patios, etc. should all be looked at when it comes to purchasing a coastal home, if all of these features are facing the wrong direction, they may not provide the enjoyment you are looking for. Purchasing a coastal home that is faced in a way that provides no views will not only decrease the value but could also decrease your happiness in the home.

Related: Top 10 things First time Home Buyers Should Know

Location

As mentioned above, any coastal home seems to be a good home, right? Wrong. A great home in a bad neighborhood can ruin the home completely. Prior to purchase, you should always research the area to make sure that the property is in a friendly neighborhood. This is especially important if you plan on using the property as a rental property for a portion of the year or weekends as your renters will want to be surrounded by friendly neighbors to ensure they have an enjoyable stay.

If you are currently searching for a coastal home, need a qualified buyer’s agent, or have any questions regarding the real estate within the Carolina Coast, please feel free to contact our office at any time.

Additional:

Best building materials for a storm-resistant home

How to Avoid a Bidding War

 

 

Why Beach Homes Are So Desirable

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Why Beach Homes Are So Desirable

When you hear the term, “Beach Home” you tend to take a deep breath, and instantly think of relaxing days spent listening to the waves with a nice salty breeze blowing through the palm trees, however, what is it about a beach home that is so appealing to buyers? There is of course the main fact, it’s on or near the beach, but there are so many other factors that help make beach homes desirable.

When purchasing a beach home, you are nearly always guaranteed a protected investment. This is a huge bonus as home purchases are generally one of the most expensive transactions you will make, so having that extra cushion of protection provides great relief. Beach homes have and will most likely remain one of the more coveted housing options on the market, which not only protects your investment but allows you to feel confident and safe when making your purchase knowing that your return to investment is nearly always protected.

Related: 3 Things to Consider When Buying a Beach Home

Beach vacations have always been popular and within the last 5 years the options to rent out privately owned beach homes have skyrocketed with the help of rental companies such as Airbnb. While each area may have specific rules or guidelines on rentals, purchasing a beach home often gives the buyers a chance to rent out the home for a portion of the year. This provides exceptional investment opportunities to the homeowner and can provide a substantial income to help offset the costs of living as well as pay for needed maintenance, repairs or upgrades the homeowner may desire.

Why Beach Homes Are So Desirable

Additional: Do all homes need an inspection?

There’s a saying, “Create a life so grand that you don’t need a vacation” and by purchasing a beach home you are oftentimes doing just that. When purchasing a beach home you are purchasing a year round vacation. Whether your home is beachfront, has beach access, or is a short walk or drive away, a beach home provides year round fun and entertainment for all. Having a home that doubles as your vacation home could quite possibly be the simplest and most true reason as to why beach homes are so popular and why so many people dream of owning one.

Related: What is Earnest Money and How Much do I Need?

If you’re looking for a beach home, have questions regarding beachfront real estate, or are searching for an agent to help you in the buying or selling process, please feel free to contact our office at any time.

Furnished Condo for Sale in Sunset Beach for Sale

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Furnished Condo for Sale in Sunset Beach for Sale 137 Avian Drive #3518 – 1 Bedroom, 1 Bath, 792 SF – $149,900

137 Avian Drive, 3518 Sunset Beach, NC 28468

Looking for the perfect vacation condo or investment property? Maybe just a quaint little home near the beach? Check out our newest listing at 137 Avian Drive #3518 in Sunset Beach. New on market – Nestled in the BYRD Golf Course at the Champion at Sea Trail. Spacious living, dining and kitchen area, perfect for one or two.

137 Avian Drive, 3518 Sunset Beach, NC 28468

Wonderful opportunity to own an updated and FULLY furnished condominium on the TOP Floor overlooking the BYRD Golf Course in the CHAMPIONS at Sea Trail! Enjoy the morning sun rise on the EAST facing screen porch! The building is equipped with an ELEVATOR!

137 Avian Drive, 3518 Sunset Beach, NC 28468

This lovely condo features elegant decor and furnishings! Functional Kitchen with Bar is open to the living room for optimal social space! Spacious Bedroom and Bath! With a Queen Sleep Sofa in the Living Room there is room for four people to sleep comfortably. ALL appliances included! Screened in Porch w/excellent view of the Golf Course! Very positive Rental History with an established rental company!

137 Avian Drive, 3518 Sunset Beach, NC 28468

Majority of the winter months are already booked, if the new owners want to continue renting it. The Champions Condominiums have their own pool! ALL amenities in Sea Trail can used by the owners of the condos! The condo owners also receive access to the Sea Trail Parking lot at Sunset Beach! The Renters of the Champion Condos are allowed access to the Village Activity Clubhouse as well as the Indoor and Outdoor Pool! Sunset Beach has been named one of top beaches in the world by National Geographic! The wide beach and soft sand along with the private Bird Island Preservation and Kindred Mailbox are a delight for all visitors! A few miles down the road you can enjoy many restaurants in Calabash, the Seafood Capital of the World! Great Location only about 40 minutes from Myrtle Beach or Wilmington!

137 Avian Drive, 3518 Sunset Beach, NC 28468

Clean and move-in ready. Pure white bathroom. 

137 Avian Drive, 3518 Sunset Beach, NC 28468

Washer and Dryer in the unit yet tucked away.

137 Avian Drive, 3518 Sunset Beach, NC 28468

Sit out on your balcony and enjoy the landscape and people playing golf. Spacious enough for morning coffee or alfresco dinner!

Call us for a private tour or virtual tour or to learn more about this great condo and the golf packages available

Furnished Condo for Sale in Sunset Beach for Sale

Take a dip in the pool! Relax in the spa, or hang out at the clubhouse! Champions has some great amenities.   The Village Activity Center is a recreational facility on-site that offers indoor/outdoor pools, hot tubs and exercise facility for a minimal daily fee. Plus, you’re just minutes to the beach!

What is Earnest Money and How Much Do I Need?

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So, what is earnest money?What is Earnest Money and How Much Do I Need?

Earnest money is a good faith estimate that buyers put down when they make an offer seating they are serious about buying the property and they’re willing to put money down on it. It’s basically a deposit so that the seller cannot accept any other offers from other potential buyers. You’ve put money on the deal, you are serious about buying, and the seller needs to honor the offer until or if something else happens to change the offer or the transaction.

How much should we put down?

This really varies because it depends on your current situation, the price of the home, and the negotiated offer. In the past, buyers can legally put down anything they want, including less than $500, and IOU, or even personal property. While this is not done any longer, it still could be legal but, other buyers may put down higher downpayments, which look more attractive to a seller. If the seller is reviewing multiple offers, they’re more likely to choose an offer that has a higher down payment or earnest money deposit. A good rule of thumb is anywhere from 1% to 3% of the asking price of the home. This could mean as little as $1000 or as high as $10,000, or even more.

When does it get deposited?

In our NW Indiana real estate market, we have a couple of different ways it can be deposited. The earnest money check, cashiers check, or money order needs to be presented with the offer or at least a copy of the check. This shows that the buyer is serious about the purchase and is willing to put down money. However, that does not get cashed or deposited until either three days after mutual acceptance or three days after approval on the home inspection. The money is typically held by either title, escrow, or the real estate brokerage of the buyer’s agent. It gets deposited into an escrow account or mutual fund account and is credited toward the purchase of the home on closing. Both are negotiable.

Can you get your earnest money back?

There are a couple of reasons you would want to get your earnest money back. If, after the inspection, the report is not up to your standards and you choose to terminate the transaction based on the inspection, you can get your earnest money back. The expected price range, the buyer can get the earnest money back. If they simply pull out of the deal without a reason or without negotiating with the seller, the earnest money could be lost, but a great buyers agent will typically find a way to get the earnest money back should the buyer change their mind.

The earnest money is really a security deposit for the seller. Should the buyer back out for lamer reasons, the seller now has to read list of the property, put it back on the market, advertise it again, and go through the entire process. If the reason for backing out of the transaction is not a legitimate one, the seller is legally entitled to that earnest money for their lost time and emotional stress.

Earnest money is really a major part of the real estate transaction. Even if you’re going for a zero down or low down payment home loan, this money will be out-of-pocket as will your home inspection. It’s important to have a little bit of money set aside for these funds when buying a home.

Get Started on Buying a Home Today

More Information for Buyers:

What Comes with the House?

How to Be Your Mortgage Lender’s Best Client

What is the Seller’s Disclosure Form?

5 Hidden Costs to Buying a Home

3 Things to Consider When Buying a Beach Home

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It’s no secret that buying a beach home is something that many people dream about. As with all home purchases you want to be diligent and ensure you are doing your research prior to closing the sale, however, there are some things that you want to pay extra close attention to when it comes to buying a beach home.

Is it weather-proof?3 Things to Consider When Buying a Beach Home

As with all coastal towns, ensuring that your home and city are both as weather-proof as possible is a must. While we always hope for the best and never plan for natural disasters to strike, protecting your investments against such horrors could save you from losing your home completely. According to FEMA using concrete as well as naturally durable wood are the best building supplies to use when constructing a beach home. An extra precautionary measure is to purchase a home on stilts, this is a great way to protect your home from flooding.

Is the roof new?

Checking on the condition of a roof should be considered in any home sale, but especially in the sale of a beach home. Most coastal homes will experience much harsher weather than homes that are further inland such as heavy and hard rainfall and high-speed winds. Purchasing a home with a newer roof is always suggested, a bonus is if you find a home with a metal roof as these are generally the most wind-resistant and thus provide a longer life before needing repair or replacement.

How close to the water is it?

It’s no secret that most people searching for a beach home want to be as close to the water as possible. This does help protect your investment in some ways such as ensuring that you will have great resale value, not to mention exceptional views, however, the closer you get to the water the higher your chances of flooding become.

The closer to the water you get generally the higher your insurance premiums will be for flood insurance and you may find yourself spending more in repairs than if you were to be further off the coast. Weigh the pros and cons prior to closing to see if you want to live as close to the coast as possible or would rather hang back a ways. As mentioned above, purchasing a home on stilts is a great way to help protect your home from the damages caused by flooding.

As long as you do the needed research and weigh all of the pros and cons when choosing your home, you are sure to end up in a home that you love. Regardless of if you choose to purchase a home right next to the waves, or decide taking a leisurely stroll to the water is a better fit, the Carolina Coast provides it all.

More Beachfront Communities

Sunset Beach Homes with Access to Intracoastal Waterway

Sea Trail Sunset Beach Real Estate

Oceanfront Homes in Ocean Isle Beach

How to Keep Calm During a Real Estate Purchase

5 Hidden Costs When Buying a Home

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5 Hidden Costs When Buying a Home

It goes without saying that purchasing a home isn’t exactly cheap, but how much does it really cost? While it varies slightly on each individual sale there are many “hidden” fees that buyers are often unaware of. When acquiring your pre-approval for your home loan you are more than likely aware of your down payment and your mortgage amounts, however, what other costs should you plan on being responsible for? 5 Hidden Costs When Buying a Home 

Closing Costs

One of the more common costs you may have heard about is closing costs. In some cases the seller will pay for a portion or all of the closing costs, however, it is often the buyer’s responsibility. In general closing costs range from 2-5% of the home’s value. So what exactly are the closing costs? Closing costs consist of a multitude of little fees that are bundled into one lump sum such as title insurance, recording fees, origination fees, notary fees, etc.

Earnest Money

Prior to the closing of your sale you may also be asked to provide Earnest Money to the seller. Earnest money is a way of showing the seller that you are serious about the purchase, should you decide to back out of the sale, oftentimes your earnest money will be forfeited. While it does varry, generally speaking earnest money will range from $500-$1,500.

Appraisals and Inspections

Appraisals and Inspection are nearly always the responsibility of the buyer. While in some cases you may be given the option to forego the inspections and thus save the fees, this can lead to problems or repairs down the line that could have been avoided or tended to if the inspections were to be completed. Generally, there are three different inspections that should be completed, a home inspection, a pest inspection, as well as a home appraisal. Combined these average between $700-$1,000 in total pending on where you are buying a home.

Interest Rates

Interest Rates are a hot topic when it comes to buying a home and sadly many home buyers settle for a higher interest rate just to get a home even if it means throwing money down the drain. Even 0.5% difference can be huge when it comes to buying a home and will either cost or save you tens of thousands of dollars over the life of your loan. Be sure to discuss your interest rate options in-depth with your loan adviser to ensure you aren’t paying more than necessary.

Homeowners Insurance

Congratulations, you’ve purchased your home! But did you forget that you will be required to maintain homeowners insurance? While this doesn’t amount to much, your mortgage lender will require that you have homeowners insurance for the life of your loan. This can be as low as $20/monthly and go up to much higher variables pending on the type of insurance you require or the value of the items you’d like to have insured within your home. You can also include this and your property tax with your monthly mortgage payment.

Whether you are a first time home buyer, buying a second home, downsizing or upgrading, be sure to think through all of the hidden costs that might be associated with your purchase and plan accordingly.

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