Tuesday, September 13, 2011

Beach Property

If you are looking for beachfront property as an investment or simply to build a vacation getaway you are fortunate as this is a buyers market. In Florida and California property values have dropped drastically and there are some real bargains.

The first step in obtaining beach property is ask yourself do I want this as an investment, for use it as my primary residence or as a vacation home to enjoy my golden years. This will help you to determine what type of beachfront property you will require.

If you do not have a preference as to what state you would like to live in Florida will probably have your best investment properties. Florida has no state tax and property taxes have just been cut by the new governor this is definitely an advantage for you.

I have discovered an interesting investment in beach property in Daytona Beach Florida. They have what is called a condo hotel. This is simply a hotel located on the beach that has an abundance of rooms. You may purchase one of these small efficiency at a reasonable price. I found some as low as $35,000. The idea behind this you may use it at your convenience as a vacation getaway and the rest of the time have it rented out by the week or day. There is a management company located on the property to handle the details of renting the property for you. The HOA fees cover all utilities, cable and trash removal as well as housekeeping duties.

So check with your real estate agent to see if owning beachfront property is the way to go for you they can advise you of the pros and cons of this.