Tips for finding a beachside investment property
It’s no secret that beachside property is a hot commodity. In most cases, as soon as a piece of property hits the market, regardless of value that property has been claimed within a few days at most. Your own efforts to invest in beach property may turn up fruitless time and time again. However, grabbing a piece of valuable property like this is easier than you might think, you just need to know when and where to look. Are you interested in buying to let? Here are some tips for finding a beachside investment property that can make you a proud owner of scenic land in no time.
Look in the Offseason
Looking for beachfront property between spring and early fall is like looking for a breakfast restaurant that’s open during dinner. The summer time is not only the hardest season to find property that’s for sale, but if anything pops up, it will usually be off the market within the same day. Limit your search for beachside property to the late fall and winter months. It’s when no one is in the beach towns that houses usually go up for sale, and that’s also the time when the least amount of investors are looking at property.
Go Right to the Source
Using other real estate agents to help you find beachside property is going to put you in back of the pack. Communication about new properties for sale slows down substantially as the chain goes from one agent to the next. It could be well over a day before you hear about an investment property that’s for sale, and by that time, the property is most likely already off of the market. Look for the sources where real estate agents get their information from and build your beachside investment portfolio through them instead.
Head to the Outskirts
Just because a beachfront property is in a lesser populated area doesn’t mean that the value of the property won’t go up over time. Consider buying property that doesn’t seem to be in a dense area surrounded by lots of traffic, especially if you plan on holding the property for any significant amount of time. You’ll find that over several years, beach towns grow and spread like wildfire, and you could easily find yourself with a gold mine piece of property in the next decade or two. You can also expect these properties to be much less expensive when you purchase them initially.