Before you buy your beachfront property there is one thing that you should check, but that most people forget about and it could stand to cost you quite a bit of money In lost property value. The most overlooked step in buying property by the beach is checking local building regulations. Whether you’re buying a high-rise beachfront vacation condo or a bungalow on the sand, building regulations will affect you in one way or the other.
If you’re investing in a condo or real estate not on the beach, but with a view of the ocean your property value will be severely affected if someone builds between you and the ocean and obstructs your view. Odds are you paid a premium for your property because of the view and if you lose it you also lose a lot of property value. Always check to see if your view of the ocean is in jeopardy if you’re not right on the sea.
Even if you do buy property on the beach, building regulations can affect you. In some states you may not be able to construct certain improvements, such as piers or rock walls but old ones built before that law are generally grandfathered in. Properties with these structures on them usually go for a premium because people can no longer build them. However, in some grandfathering laws, you aren’t allow to make major changes to the structures. So if you’re becoming the owner of a pier that needs some serious work done, you may just end up losing the pier instead, and with it a lot of your property value.
Local laws also affect a lot more than just your home, they can affect how you can improve your home or what can be done about shoreline erosion. Learn about this and more at the Beachfront Property Guide.
