The earth is more than two thirds water, which is great for anyone who's looking for a house with a water view. From Vancouver to Halifax, Perth to Brisbane, and everywhere in between, waterfront homes are more sought after than any other type. If you're thinking of looking into coastal homes, whether it's an oceanfront cottage in PEI or a condo on Long Island, there are certain commonalities that come from living near the sea. This article will teach you what to expect.
Price wise, any home that has a water view, and especially water access, is going to be at least half again as much as any of the cottages that don't, so be prepared to pay more. You'll also have to expect more competition from other buyers, especially out-of-towners looking for a vacation home, than a you would if you were buying a normal suburban home. The upshot of this, of course, is that you get to enjoy a great view and your property will appreciate even more as demand for waterfront desire increases.
Living on the coast means you have access to more activities than people who are landlocked. That's why people buy condo rentals in the first place. They want to have easy access to swimming, surfing, boating, and just lying on the beach reading a good book. At Londonhomesforu.com for instance, they see many London clients that seek to buy a property at nearby Port Stanley. These clients want a second home near the beach, fun shops and atmosphere a waterfront property in Port Stanley offers. In most cases, you'll have to share any beach there is with your neighbors and probably tourists as well. If you want to own your own slice of beach, the cost will be upwards of twice or three times as expensive.
If you're an inland dweller and you've only ever visited a Sunshine Coast bed and breakfast during the tourist season before you made your purchase, you'll get a rude awakening in the wintertime. Most coastal resort towns shut down almost completely in the winter, meaning there will be no work and no activities to speak of. There will also be big storms to content with that can damage your property if you don't prepare for them properly.
As a trade off for your view, there are certain things you'll have to put up with if you buy real estate on the ocean coast. The first is erosion (find definition here), which will be steadily eating away at your property unless you're in a deposit zone, in which case your house will be getting further and further from your view. The second is the possibility of floods and hurricanes with their storm surges, so make sure you have appropriate insurance coverage. Expect that your premiums will be higher than they were for your last home, since there's more danger in living close to the ocean.