What to Know When Buying a Florida Vacation Home

Most people visualize owning a home near the lakeside or a small offshore farmhouse where they can spend time with their loved ones engaging in different kinds of watersports. You must admit the beautiful view in a waterfront home makes it an ideal real estate investment. When looking for such properties, a great place to search would be in states such as Florida, where millions of guests visit the region annually.

An outstanding benefit of waterfront homes is the overall beauty of the scenery. Just like any other investment property, you need to be aware of the issues arising from buying a waterfront home.

Whether you are purchasing the property as the main house or vacation house, it is essential to consider a few elements before making the final decision. This article highlights some expert tips that can guide you during the purchasing process of a waterfront home.

Know the Risks and Insurance Coverage

Insurance policies on waterfront homes are more expensive than in other real estate assets as they pose a unique set of challenges. Compared to the standard dwellings, properties near waterfronts encounter high winds and may suffer damage from the nearby water bodies.

With an insurance cover against floods, homeowners of properties that are more likely to suffer from the natural disaster will be charged a higher premium than their counterparts.

There are many available resources online that can assist you in estimating the premium of flood insurance on your waterfront home. On the National Flood Insurance Program (NFIP) website, FloodSmart.gov, you can read through the concerns of other waterfront property owners and evaluate the risk on your asset.

Inquire About Any Limitations on Building

A waterfront home provides an exquisite view; however, it may pose some restrictions on building. You can conduct a professional inspection to check on corrosion effects from the salty air, water intrusion in the underground room, or mold growth. Unlike in the purchase of a standard home, you may want to examine the water quality and attain certificates of elevation.

Your assets may be bound by building limitations on added structures which could be practical or statutory. Before commencing the new construction, ask whether there are any restrictions on structures you would want to put up.

Conduct Thorough Research

When planning to buy a waterfront home, do some background research on several factors such as the shoreline and water body. The shore tends to shift when dirt combines with water, making it important to examine the history and future state of the coast carefully. You could lose your property if the water level increases.

On the other hand, your waterfront home could be a few hundred yards from the water if the shoreline moves further away. Also, if you intend to go surfing, you may inquire about the depths of the water. Such information would be beneficial to homeowners who want to go boating, as the depth of water influences the choice of boat.

You want to work with a real estate agent who has previously handled the sale of waterfront homes and is familiar with the process. Since purchasing a waterfront property is different from other standard assets, hire a qualified realtor. There are issues on structure and titles that only an experienced agent can advise you accordingly.

A real estate agent who deals with waterfront assets is best-suited to guide you through the purchase while answering all questions you may have regarding the transaction. The preferred realtor should be able to provide contact information and testimonials of customers they have worked with in the past.

Having a waterfront home is a lifelong dream for most people, and it is essential to follow stipulated guidelines during the purchase. With extensive research, you could be on your to owning your new house.

The Places You Can Visit When You Buy a New Vacation Home

It is not surprising that many people want to spend their retirement living in Florida. The state is ripe with natural beauty and an endless variety of activities. According to the National Association of Realtors, Florida’s surface area is 65,755 square miles. There are several locations that should make you consider finding condos for sale in this state. Below are some of the beautiful places to visit when you buy a vacation home in Florida.

Key West, Florida

Key West is an excellent spot for those who have worked hard all their lives or are suddenly rich and famous. You will recognize why this place has been a haven for artists, musicians, and writers since 1822. The area also allows you to walk along the gorgeous beaches or take a water taxi tour while admiring the natural scenery. You will love the opportunity to soak up the sun.

Sarasota, Florida

Sarasota has beautiful beaches and a lush tropical environment. It also offers fantastic shopping opportunities, a wide variety of food options, and plenty of other activities to keep you busy during your vacation. You will fall in love with the culture, natural beauty, and the perfect climate when you consider investing in condos for sale in Florida by visiting Sarasota.

Naples, Florida

Naples is a beautiful place with luxury condos for sale, ocean views, and other beautiful properties. You could easily spend your days on your golf course or boat. In Naples, you can also go to one of the many restaurants or nightclubs that give you plenty of options when it comes to entertainment. Then you can go home to a well-designed mansion that will please your senses.

Sarasota Springs Golf & Country Club

Sarasota Springs Golf & Country Club is known for its beautiful scenery and fantastic accommodations to please even the most discerning buyer. The club is excellent for those who love golf, tennis, fishing, and other water sports. You will enjoy the fantastic view of the Gulf of Mexico. Investing in condos for sale in Florida means you can experience the colorful flower gardens that make this place a true oasis.

Florida provides buyers with unique opportunities to purchase condos for sale in an ideal location. It is easy to understand why so many people are happy living here. The state offers plenty to do and see when you are not relaxing in your new property. Contact us today for more information on Florida real estate or condos for sale. We can help you find the perfect property for your needs.