Waterfront Investment - Need input

[David C.]

Hey BP!

I've been investing for several years and have acquired 8 rentals. I am interested in purchasing on the waterfront. Part of the reason is that COVID presented an obstacle that we weren't able to vacation at the beach and the opportunity to overcome.

I am interested in waterfront property and want to know your input on the difference in demand for something that is beachfront vs river or lake front.

I am looking to purchase in North Carolina. While beachfront is ideal, it's expensive. I'm wondering if riverfront that leads to the ocean would be a great option. Boat access & boat slips are available on most that I've looked at.

Let me know your thoughts and what I should prepare for or be aware of. Which questions should I be asking.

[Candice Crawford]

I have been living on Cape Cod for over 30 years. I could not help compare my clients' waterfront home routine maintenance to my home. I noticed a significant difference.  My home is only 1/2 mile from the water, thus it is spared the driving salt and rains, excessive moisture, and sand damage from homes directly on the water. Window replacement, roof, siding, and paint life expectancies are shortened sometimes by half. Salt air rusts out all mechanical devices like ac units before their time.  Keep this in mind when determining expenses. It may look like a great investment to start, but a reserve should be kept in mind to keep that investment going.  

Beachfront indeed gets a higher rental tag, but is the price difference from just down the street worth the expense? This should be taken into consideration for sure.