Florida beach property evokes so many dreams that trying to treat it as a marketable product almost spoils those heavenly images floating around in our mind. Yes, there are wonderful properties all over the coastal areas of Florida and now they are priced well within the budget of almost everyone.
We have beach properties from low prices to the millions from the beaches of the Emerald coast in the Florida Panhandle right down to Key West in the South next door to Cuba. There are really beautiful properties from as little as $50,000 now right up to $3million and like any other property location and quality and size determines the price. The cheaper properties are 1bed apartment or condos and the more expensive are the penthouse condos high up overlooking the Gulf of Mexico or prime location in Miami.
Florida Beach Property top locations:
The best locations for beach property are in high tourist areas and quality urban areas such as Fort Lauderdale, Miami, St Augustine, Naples, Tampa, Daytona, and Sarasota just to mention a few areas. These are the most prominent that come to mind and if I was to list all the other good locations I would run out of the page, so there are plenty to choose from and the prices are very acceptable.
What to look out for when looking at Florida Beach property?
The property will in general be of high quality and well looked after. I have found that owners of beach property tend to look after their properties very well. However you have to decide what type of property you want? Again the decision is whether you invest in a condo, Town house or Villa/house. Then you have to decide how you are going to use it? Are you going to keep it for personal use or are you intending to rent it out and let it pay for itself or are you going to do a mixture of both.
Investing in Florida beach property for personal use!
There are no problems here only jealousy from your friends that you have such a life style asset. However you want to educate yourself about the property before you purchase. Things you need to know are what is the property tax in the community? What are the running costs of a house or condo there and what are the community association fees? Also the insurance costs and what are the majority of the units in the location used for? Are they just used by owner/residents or are there a large number leased or rented out? The eventuality that a majority is rented out means that you best get used to new neighbors frequently and there may be property management charges.
Investing in Florida Beach Property for rental.
Again here there should not be a problem and the same questions as above should be addressed. Also you should check with the City zoning department to find out what rental periods are allowed as their may be period restrictions. Sometimes you are only allowed to do a certain number of rentals per year, so this is important. High tourist locations may have rental zoning for day by day rental, whereas residential areas may have zoning from 6 months to a year.
Florida Beach Property as an investment?
Beach property in Florida has always been quite a good investment as these properties are very marketable and popular Worldwide. The properties that are in gated communities and well managed and in good locations will generally hold their value and indeed in the more select locations will give you appreciation. This is where I suggest to all investors to take me up on my serious advice of working with a licensed Real estate Broker like us.
The Broker will know or research the area and carry out research on the property and neighborhood for you. The broker will give you rental trends in the area and appreciation trends. As I have stated before, the more you know and with help from the Broker you and your investment will do well.