For many, owning and living in a beachfront home in the Bahamas is the dream. After all, who can resist the turquoise waters, pristine sand, and lush tropical foliage of the Bahamian coast?
Buying a beachfront property, however, isn’t as simple as making an offer and finalizing the transaction. Here are a couple of tips that will help you make an investment decision that is truly worth your while.
Determine the type of property that suits you.
In the Bahamas, beachfront properties come in many forms. There are beach bungalows and cottages, sprawling luxury estates, as well as condos, to name a few.
Shopping for a beachfront home might become overwhelming if you don’t know the type of property that meets your lifestyle needs. By determining this early on, you’ll be save time and focus on a specific area of the beachfront market.
Invite a contractor or home inspector as you shop for homes.
Beachfront properties are beautiful, but they also take a different level of beating. Being so exposed to the elements (like water, wind, and salt), makes these homes highly susceptible to structural damage.
With that considered, you want your beachfront home to be able to withstand any of these factors. Taking a home inspector (if possible, one that specializes in beachfront homes) with you while shopping for a home allows you to learn more about each property.
Ask about available insurance policies.
Say you found a beachfront property that’s built to last. Should you forego buying the right insurance policies? It depends on the home and its features, as well as the location.
If the beachfront property is located in an area prone to flooding, getting a flood insurance is something you might want to consider. Having an insurance policy that covers hurricanes and other storms can also be helpful as the area where you’re buying is prone to such natural phenomena.
Taking these into consideration while shopping helps you gauge the total expenses for each property you’re interested in.
Is the beachfront property located in a tourist destination?
Owning and living in a beachfront home located in an area frequented by tourists can be both a blessing and a curse.
On one hand, you have to deal with large crowds of people who just come and go. It can be annoying, especially if you’re looking for peace and privacy. Tourists can also increase traffic in an area and bring some forms of development that are otherwise unneeded in the community.
On the other hand, having a beachfront property in a tourist destination can also help your pockets. If you’re only buying the home as a vacation property, you can have it rented whenever you’re away. This will provide additional income, which you can use for the upkeep of the property.
Find beachfront homes in Grand Bahama
Grand Bahama is emerging as one of the hottest real estate markets in the archipelago. Explore your options now before it’s too late! Contact me today at Call 242.373.4663 or sales(at)alacartebahamas(dotted)com to get started.