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Be Prepared for Extra Costs When Buying Your First Coastal Home

24 July 2020

Cody Day

Living right next to the water can be a great way to enjoy the coastal breeze, easy access to the water, and a great view. While buying a coastal home can come with a number of great benefits, it's important to recognize how the location often means the home is a lot more expensive than you may have expected. 

Instead of rushing into picking out a coastal home based on just the appearance or layout, you'll need to be realistic about the costs that can come with the home.

Consider How the View Affects the Price

Whether the home is located right alongside the water or is a block or two away, the location will play a big part in how much the home is listed for. The closer you are to the water, the higher the price will likely be, making it best to find the right balance for your budget.

Along with the location itself, you'll need to consider if the home has multiple stories and a balcony or rooftop patio that offers an impressive view. With a nicer view, the home could be a lot more expensive than you may have anticipated.

Be Realistic About the Maintenance

With the home being built right next to the water, you'll need to consider how the weather and the nearby water can be problematic. From the threat of hurricanes to storm surge during heavy rain, the home needs to have a foundation and structure that's built well.

With the weather and location in mind, you'll need to consider the maintenance involved and what you can expect from the maintenance that could be involved in the home.

Check the HOA Dues You'll Be Paying

It's common for a coastal home to be part of a larger homeowner association community, which can be nice in some ways and costly in others. While being part of an HOA can mean services such as pest control and landscaping is handled by someone else, you'll need to prepare to pay HOA dues to be part of the community.

Making sure that you have a good experience buying a coastal home can be a lot easier when you're careful to consider all the costs. Instead of being shocked by the price once you start shopping or after making your first monthly payment once you've settled in, the above costs can be good to keep in mind when you're interested in buying the right home.

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