A waterfront property is your gateway to breathtaking views and a laid-back coastal lifestyle. And with mortgage interest at rock bottom rates, investing in one has never been more affordable.
If it’s your first time buying waterfront homes for sale in Ocean Springs, MS, however, be sure to steer clear of these rookie mistakes:
Not scrutinizing the location
As with all real estate properties, location is your primary consideration when looking at waterfront homes. However, there’s more to location than just a scenic view. The ideal home should be remote enough to provide a serene atmosphere but not so far away as to be cut off from urban conveniences. After all, you don’t want to drive hours just to get groceries or fill your prescription. Luckily, there are many waterfront homes in Gulfport, MS that offer the perfect balance of privacy and accessibility.
Not getting to know the neighborhood
A waterfront house might have an attractive view, but is its neighborhood just as enticing? To begin with, check if the water in front of your house is ideal for swimming or boating. Inquire also about how crowded the area gets during peak tourist season. Lastly, ask about any planned developments—you wouldn’t want to move into a home only to discover that a major hotel is about to begin construction next door.
Not inspecting the property
A waterfront house may look picture-perfect in photos and even during showings, but that doesn’t mean you should skip getting an inspection. By hiring a professional inspector, you give yourself a chance to uncover defects that may not be visible to the naked eye, such as plumbing issues or a skewed foundation. Because waterfront homes are much more exposed to the elements, the inspector will also check the property for excessive wear and tear, and will assess its suitability to withstand sea winds, corrosion, and soil erosion.
Not inquiring about bulkhead responsibilities
Did you know that coastal erosion can shrink a shoreline by up to two meters a year? This phenomenon poses a significant risk to waterfront homes, which is why bulkheads are constructed to keep the ocean from reclaiming the shore. However, these retaining walls require upkeep which can be quite costly—and you may be the one footing the bill. If the property you’re interested in is near a bulkhead, be sure to ask if the owner or the municipality is in charge of the maintenance and repairs.
Not getting flood insurance
Living so close to a body of water means that flooding is always a possibility. Of course, there are ways to prevent this problem, such as building homes on stilts, installing sump pumps, and waterproofing foundations, but the risk is never zero. As such, you’ll definitely want to get flood insurance so you can protect your finances should the unthinkable happen. A good policy should provide comprehensive coverage not just for the home itself but its contents, too. Moreover, your plan should provide ample reimbursement so you can rebuild your home if it is destroyed by a deluge or storm. The premium you’ll pay is influenced by the area’s flood zone classification, which you can find here.
Not understanding upkeep requirements
All homes need some level of maintenance, but beachside homes require considerably more. After all, it is exposed to salty air and whipping winds pretty much year-round. The salt in the air can eat away not just at exterior paint but also on metal parts in your home. High humidity can also create a damp environment that can lead to mold and termite infestation. Of course, maintenance costs money so be sure to factor in upkeep requirements when buying waterfront homes for sale in Biloxi, MS.
Not checking the building and HOA codes
You may wish to undertake renovations or upgrades down the line, but make sure the local building codes allow you to do so. For instance, municipalities might have strictures on how high a waterfront property can be, so adding a third story to your home might not be possible. If your home is located in a neighborhood with a homeowners’ association (HOA), check how strict or lenient their rules are. You may end up in a community where even your home’s exterior paint color has to be approved by the board of directors.
Now that you know the common pitfalls of buying Gulfport, MS waterfront homes for sale, be sure to tap a real estate agent that specializes in this property type. Just give Sherry Owen a call at 228.822.9870 or send an email to info(at)owenandco(dotted)com to get expert advice every step of the way.
