Why You should Own a Beach House
Owning a house is a dream come true for everyone regardless of where you come from. Owning a beach house on the other hand is like having a taste of what paradise feels like.
Waking up to the sunrise view of the ocean with the morning sun lighting your living room, hearing the waves and birds, taking long walks on the beach while enjoying the cool breezes, or going for a swim whenever you feel like it. This is what a beach house offers you.
Besides living in it, it can be used as a place for vacations when you are with your family. You can also rent it out for tourists when on vacation, with the aim of making a profit. They are a reliable investment and a good income stream. Most beach homes are in the Kenyan coast including Mombasa, Malindi and Lamu which are also vocational spots for tourists.
Before considering owning a beach house, you should consider how the market is faring so as not to buy it at a high cost, it is advisable not to buy during inflation times because at this the mortgage rates are usually high. You should also be careful and look if it is situated in a land-rated area and if the title deed is genuine so as not to be conned. Today we shall focus on some of the advantages and disadvantages of owning a beach house.
1. They can Act as Vacation Homes
Most people who own beach homes use it as an investment. A study has shown that vacation homes have more profit than rental houses, with this in mind, it is a reliable source of income. So next time you decide to purchase property, you may want to keep this in mind and weigh your options.
2. Property Appreciation
Your beach house's value will increase during times of inflation. Even after time passes by, its value will increase due to the fact that it is a beach house and it is something prestigious.
3. For Personal Use and Enjoyment
Most people who buy beach houses usually use it as a second home. It allows one to save money which they may have spent on a hotel room. Also, a beach house is a good place to hold family gatherings and also parties. You can be assured those relatives who come to your beach house will not forget the experience.
4. There is always Something to do
Apart from the family gatherings you can host, you can always go on long walks with your loved ones on the beach or decide to go for a swim. This enables your family to get even closer.
1. High Maintenance Cost
Beach houses come with a high cost of maintenance. When they are used as vacation spots, there will always be something to repair due to the fact a lot of people are using them. The drainage or pipes might be damaged. Also because of the fact they are at the beach, the roof might be eroded due to salty humid conditions and hence this might need repair.
2. Added Fees
These added fees include mortgage payments, insurance and management fees. In Kenya however, the insurance fees will not be that high compared to other countries like the USA or countries that experience hurricanes or tsunamis, insurance is paid so as to cover events like these. In Kenya, we are fortunate that these natural phenomena usually do not occur.
Management fees are not cheap if you consider beach houses are used as second homes, the owners will not have that time to manage the facility. Unless the owner has dedicated his/her full time to it, they will have to pay a management company to look after and take care of the house.