Want to wake up to the cool breeze of the ocean every day? Love to feel the sand and the waves gently gracing your feet? If you answered “yes” to any of these questions, consider buying a beach house in Ocean City, NJ, to make your dreams a reality.
However, do not make the mistake of investing in the first vacation home you come across.
Before selecting a vacation home to call your own, you need to do proper research. It is equally important to consider several factors before signing on the dotted line. This is why Monihan Realty has come up with a few significant factors that you need to think about before buying a beach house in Ocean City, NJ:
You first need to set aside a budget and find a beach house within that budget. There are several beach houses on the market in Ocean City on sale and available at different prices. Decided if your beach house has to be on the beach or at least close to it.
A vacation home on the beach will cost more, so if you cannot afford to buy a vacation home on the beach, settle for one that is close by. Other costs you need to consider include associated taxes, insurance, utilities, HOA and condos fees, and other items, such as furnishings and seasonal equipment, which includes kayaks, boats, jet skis, and more. Add up all the costs and then search for a beach house within your price range.
2. Roof and Window Durability
In the past, Ocean City, NJ, has seen its share of storms. When you are buying a beach house there, inspect the roof and windows for durability. This is especially true for vacation homes on the beach because inclement weather can increase the risk of flooding in coastal areas.
Your roof and windows can take a hit and become damaged due to stormy weather and heavy winds. Ensure you get a professional to inspect the entire house for signs of repair before you buy it. Otherwise, you will find yourself paying out of your pocket for roof and window replacement.
3. Rental Income
If you want to buy a beach house with the intention to put it up for rent, assess whether the vacation home will attract tourists or not. Since Ocean City, NJ, manages to attract people from all over the country, you have a very good chance of finding tenants. How can you determine if the vacation home will generate a rental income for you or not?
If the initial costs, maintenance needs, and monthly fees of the property are too high, do not buy it. If you plan to rent it, buy a vacation home with multiple bedrooms because most families come to Ocean City, NJ, on vacation and smaller beach homes are harder to rent out.
4. Noise Level
If you are looking for peace and quiet, buy a vacation home that is not surrounded by other vacation homes. Find out more about the location of the beach house before buying it. If you do not mind neighbors but still want to enjoy the serenity that the beach offers, visit the location to observe your potential neighbors.
Monihan Realty can help you find a beach house in Ocean City, NJ, that meets all your needs. They have been selling and renting homes since 1947 and remain number one in client satisfaction.