Some Important Tips When Buying Waterfront Villas in the Sunshine Coast
The waterfront villas Sunshine Coast has are some of the best prime pieces of real estate that you can ever invest in. They have significant advantages over the landlocked properties but they can also pose some challenges. When you are planning to buy and build Sunshine Coast waterfront properties, there are plenty of considerations that you may also have to put in mind.
In the Australian property market, the waterfront villas Sunshine Coast has today are generally considered prime pieces of real estate which come with plenty of great advantages for the buyer. The properties are going to appreciate in value relatively faster and their good proximity to the waterfront gives them an extra edge for buyers looking for water-based lifestyle. Whether you are planning to purchase empty land Caloundra has or ready built properties, you are going to pay more for the piece of property.
According to the property consulting firm, Knight Frank, these luxury waterfront villas Sunshine Coast has today are going to cost, on average, 63% more than comparable non-waterfront properties. Apart from the pricing factor, there are plenty of other considerations that you need to keep in mind when you are planning to purchase new land Sunshine Coast has which have great waterfront views. The homes situated on the waterfront do not just offer good view, they might also be exposed to certain risks such as the element and you need to carefully study the history of the area before investing in the waterfront homes. You are likely going to pay more when it comes to the property upkeep, maintenance, repairs and even the insurance costs. Here are some useful considerations that you can keep in mind when you are planning to invest in Sunshine Coast waterfront properties:
Look at the Rental Market
You will not always be spending 365 days a year on your waterfront properties. As a result, it might make sense to rent it out when you are not using it. This will bring some extra income which might offset the cost of the mortgage as well as the maintenance costs. Look at the rental rates paid by holiday makers and determine if this will be sufficient to offset the cost of buying and building the property. It is good to purchase your property in places where tourists are likely to flock throughout the year.
When you are planning to purchase waterfront villas Sunshine Coast has to offer, it is important to look at the accessibility of the property. Ensure the beaches are served with excellent transport links. It should have good highways that will allow you to have an uninterrupted access to your beachfront property. Without proper accessibility, you might not be able to easily recoup your investments in the property.
Cost of Maintenance
The cost of maintenance of the property is also a major factor to keep in mind when you are planning to make a purchase. It is important to note that the waterfront villas generally require a more intensive maintenance routine to keep them tip-top shape due to the exposure to the elements. Salty air from the sea is generally corrosive for the paint and roofing and you might find yourself doing maintenances and upgrades sooner than usual. In the rural areas, you will also have to shell out more in order to put up the utilities such as paved roads and septic tanks.
These are some of the major considerations to keep in mind when you are planning to invest in a Sunshine Coast waterfront property. Do your due diligence, choose a good realtor and invest in an area that is already well-developed as these typically have great returns on investment.
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