Many dream of owning ocean front property, as the right home can serve as both a great source of investment income and a reliable, personal vacation destination for years to come. What is the best time of year to find bargains on ocean front property? Prospective buyers should consider purchasing ocean front property in early fall. Real estate agents and ocean front “second home” owners recommend beginning the search for quality properties in August or September. This is the time at which these properties will be valued at their highest, as demand is at a peak during the summer beach season. To see for yourself, identify the home you want to purchase and watch throughout the end of the summer and the beginning of fall as the list price of these properties goes down.
The price of ocean front property decreases in fall because it is very common for property owners to squeeze in just one more summer of rental income before selling the home. Prices of ocean front property remain high during the summer season because demand is high, rent checks are coming in, and there is no incentive to sell. For this reason, real estate professionals say it is quite rare for ocean front properties to go on the market at any time during the summer.
Additionally, many ocean front property owners looking to sell often choose to do so in early fall to avoid a long winter and spring season of paying for the utility bills, taxes, and mortgage. This is a time when some ocean front properties used primarily for rental income experience little to no use. After all, most ocean front properties are difficult to rent during the off-season and some owners feel that they are less appealing places to visit during the winter months.
If you are in the market for ocean front property, be patient and do your homework on the area. Many beach towns have websites with valuable information that is easy to access. To get the most out of your beach front purchase, search for properties that not only have an ocean view, but are also located within close proximity of boardwalks, entertainment, and community activities. This ensures that friends and family who stay at the home have a wide variety of activities to choose from during all seasons. This also appeals to potential renters during summer and winter months, which boosts both the intrinsic and investment value of the property. It is recommended to visit the property and the surrounding area during all seasons and
Potential buyers in ocean front property are encouraged to seek the advice of a waterfront real estate specialist. He or she would know the ins and outs of the industry and provide invaluable insight on a particular area.