Purchasing a house by the beach is a dream for a lot of people. Of course, the year-round beach weather, waking up to the sound of waves, and living in the smell of sand is as inspiring and as lively as it can be. Add the perfect living situation of Toronto to the equation and you have got your life figured out really well. These factors make it understandable that you would want to make it your permanent residence.
However, if you are buying a house by the beach for the first time, there are some things that you should consider to make sure that you are investing your life’s savings on the right property. Read them below!
1. Keep a strong budget
We’ll not sugarcoat it: houses by the beach are expensive. And the last thing you need in a cool, relaxing residency is to worry about how to get rid of the mortgage payments of the house that you have bought. This stress would take back all the comfort that the house was meant to provide you.
You should know that houses by the beach require extreme upkeep and maintenance because of their close proximity to the water.
Therefore, to keep yourself sane and profitable throughout the process, estimate all your expenses realistically, including utility expense, insurance, structure and ground maintenance, and others. Another thing you need to think about is how far the beach is from your place of work – as the distance increases, the transportation expense would also increase.
After having a budget for these expenditures, make sure to save a fund for unexpected emergencies, like environmental damages. These “little costs” can pool up to become a heavy amount, so make sure that you set your budget accordingly.
2. Find a good neighborhood
Talking about the large city of Toronto, there are about 11 public beaches where there are neighborhoods that provide direct access to the view of the beach. Although almost all beaches are monitored during the swimming seasons, you should look for the neighborhood where you would get the most safety and affordability.
Leslieville, the Beaches, and Upper Beach are some favorite neighborhoods in Toronto that are right by the seashore and provide quality living situations. Check out The Beaches homes for sale in Toronto to know more.
3. Connect with a relevant real estate agent
When you are talking about real estate by the beach, you cannot make do with a real estate agent who is more experienced in inner-city properties. You need someone who has a lot of experience and familiarity with the properties by the beach.
Hiring an agent who is well-versed in coastal real estate would help you get the best deal because your agent would know if the structure of the house is worth purchasing, how much you would have to spend on maintenance if you buy the house, and how good or bad of a deal you are involving yourself in.
The experience and skills of a relevant realtor would help you save a lot of money in the long term.
4. Consider the proximity to the water
As explained above, the close proximity to the water can cause wear and tear to the house more quickly. So, if the house is insanely close to the water, there might be a high chance of weather damage. Consequently, the insurance rates would be touching the sky.
Overall, if there are more risks than rewards, do you really want to go with that deal? The closer the house is to the beach, the higher the risks are.
However, if you really want to live in a beachfront house, then pay extremely close attention to the structure of the house.
5. The integrity of the house structure
The house by the beach sounds very fun, but the stress attached to it is not ignorable. Minor construction oversights and errors can cause you big troubles in the future, especially when the property will be standing in front of the severe weather on daily basis.
To get past this obstacle, we recommend hiring a home inspector who will conduct a detailed property inspection. This could save you a lot of money on unexpected repairs.
First, check the construction. You need to be sure if the house is strong enough to withstand ocean salt, ocean wind, and potential flooding. You need a home that is built on stilts and constructed of concrete, durable wood, and coated with a decay-resistant insulator.
Second, the foundation of the house should be deep enough to withstand erosion and strong enough to resist waves, debris, and flooding.
Third, the connections of roof-to-walls, wall-to-walls, and wall-to-foundations are what make the structural integrity of the house. These connections should be rigid.
Fourth, the structure requires strong windows, doors, and roofing to withstand high winds and debris.