Historic towns, beautiful sandy bays, and delectable seafood restaurants are just a few of the wonderful things you will get to experience if you decide to settle in Massachusetts. This small East Coast state is home to nearly 7 million people and is popular with tourists from all over the world due to its stunning beaches with a magnificent view of the Bay State’s skyline.
And so, it’s no wonder that many investors are interested in finding properties in Massachusetts, particularly beachfront properties. Whether you want to buy a beachfront property to be used as a vacation home or as your primary residence, this type of property will certainly be profit-generating. However, before you make a decision, see to it that you understand all of the processes, costs, potential investment returns, persons to approach, and, most importantly, the risks that come with this major decision.
We’ve listed some of the most crucial factors to consider to help you better decide whether buying a waterfront property in Massachusetts is a good idea after all.
1. Location
Any professional realtor will advise you that location makes all the difference. When buying beach front property, you must decide if you want a house a few blocks from the beach or one that is in close proximity to the oceanfront. The former option is ideal if you’re long-term plan is to rent or resell it, as its value will continue to appreciate. But the drawback is that your area is prone to flooding, thereby raising your insurance costs.
2. Structural Foundation
structure of the waterfront property you’re interested in. Are there any signs of roof problems? Are the materials used for the walls, posts, and floors durable? Are there any indications of foundational problems, such as cracks, bulging on walls, or uneven gaps on windows? If there are tell-tale signs of structural damage, then it’s best to reconsider your options.
3. Neighborhood
Before buying an oceanfront real estate in Massachusetts, learn about the type of community you’ll be living in and the activities of your future neighbors. Who knows if you’ll be living next to a busy commercial establishment or a drinking hub, and if you’re the type who prefers peace and quiet this could be a deal-breaker. Are you willing to compromise and adjust to this new lifestyle, especially if you intend to live there permanently? Consider these questions thoroughly and be sure to know what you truly prefer in a neighborhood.
4. Potential Rental Earning
The good thing about buying an oceanfront home in Massachusetts is that you can always opt to rent it out if you’re only planning to use it as a vacation home. With so many white sand beaches in MA, such as the Chatham Lighthouse Beach, Crane Beach, Coast Guard Beach, and many more others, tourists will be knocking on your door to book your home for a weekend stay or even longer. So, if purchasing a waterfront home is your long-term goal, look into other nearby rentals to stay ahead of the competition.
5. Property Maintenance Expenses
Beachfront homes require higher maintenance costs as compared to those houses in urban and rural areas. For instance, salt and sea breeze can lead to mold growth and corrosion, while high winds and tropical storms can damage your roofs. And, if you’re frequently out of town, you’ll also need professional services to take care of your house while you’re away, such as pest control, garbage disposal, lawn maintenance, and more! These maintenance fees can be expensive, so consider your options carefully before making a purchase.
Need Professional Help in Choosing that Perfect Beachfront Home?
With so many beachfront homes for sale in Massachusetts, you may have a hard time choosing the property that fits all your requirements. To have confidence and peace of mind, make sure to ask the expert advice of our professional real estate agents at Team Garner Realty Group when checking the property. Call us today at 781-829-4301 and learn how our experienced real estate agents can assist you with your next real estate transaction!