Should I buy SFR Flagler Beach

[Paul Ricci Jr]

Hello all, we are in a position to purchase a home in Flagler Beach Fl, for 590k. 3/2 1800 sqft solid home with a stem wall (not in flood zone). Property is 3 streets from the ocean, very close nit community. This would be our primary residence. We also own a business in the area.

As everything goes up my fear is that we end up with less of a house by sitting on the sidelines. Also, many properties that sold two months prior are more desirable/ more sqft.

The house was on the market for 1 day, we offered asking 600k

The house did not appraise (565k) so change of plans if we want to proceed. We negotiated down to 590k but of course this is still more out of pocket because of appraisal.

Looking for a bit of perspective on this situation. Also is it safe to assume because it's a beach town the property will continue to cost more due to the scarcity?

Thank you in advance for your thoughts!