Finding Coastal Property For Sale
When you set about finding coastal property for sale there are a number of things to think about that make this search a little bit different to other kinds of property searches in the UK.
Coastal property can attract premium prices and yet may have poor transport links. Additionally, coastal homes often require more maintenance than other properties due to the battering of storms and the salt air.
In this article we will look at how you can begin your search of coastal property for sale and some of the special circumstances to consider when buying a house, a flat or commercial property by the sea.
Is Coastal Property A Good Investment?
As with with other kinds of property investment, location is all important when looking at coastal property for sale. There have in the recent past been reports showing that average property prices in coastal resorts had a sharp upturn with some areas showing an increase of 32%.
A property that is located within 100 metres of the shoreline can be on average worth around 12% more than one placed a mile or more inland. Investing in coastal property for profit can be highly dependent upon which area you choose to buy.
Looking For The Perfect Coastal Property
Whether you want a second home to use for holidays or are intending to permanently relocate to the seaside, finding the ideal coastal property is a matter of good research and dedication to finding the right seaside property.
If you have a certain area in mind then this makes the search simpler but not necessarily easier. It is a good plan to think carefully about the type of property and how much you can afford. Buying a property on the coast is often still a matter of making compromises.
Properties situated by the sea are usually advertised with local estate agents. You might also be made aware about properties through acquaintances or friends who live in the area. Homes by the sea are very popular with buyers and you might find it difficult to find a coastal property for sale with your exact requirements, so be as flexible as possible.
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Where Can I Find Cheap Coastal Property?
There are plenty of cheap seaside houses and coastal property in the UK, so if you want to live by the beach or intend to buy as a property investment you can find lots of opportunities. Property in the north west of England offer lower prices than those in southern counties.
Typically, the average price of a house in Skegness comes in at around £155,000 and the town can offer a very good quality of life. Similar prices are asked for homes by the sea in Wales and Scotland.
In places like Whitehead in Cumbria, which has the sea and close proximity to the Lake District, an average property costs £134,000. A good idea is also to attend some property auctions in North East England to find even more bargain houses near or on the seaside.
Abandoned Coastal Property For Sale
If your dream is to buy an abandoned or derelict property to renovate, there are many coastal areas where you can find a bargain.
Wales has a lot of derelict stone cottages many of which are on the coast. However, some require more costly renovation work than others. Expect to fit a new roof, windows and install plumbing if you choose something that has been left exposed to the elements for many years.
Be prepared to undertake some property renovations if you buy an older coastal property. You also need to check of the house is a listed building, as many seaside properties in the UK are older.
It is important to secure planning permission if you are intending to change the use of any abandoned property. This is especially true if you plan to renovate an older building and require listed building planning consent.
Coastal Property FAQ
Is It Costly To Maintain A Coastal Property?
Maintaining a coastal property is often more expensive than looking after a house that is situated inland or in a city. Coastal properties are more exposed to the elements with wind, winter storms and salt air all contributing to wear and tear on the property. Erosion of land is also a serious problem that can be a threat to a coastal property.
Are Coastal Properties More Expensive Than Inland Properties?
Properties situated at the coast are generally more expensive than those inland. There is always a demand for seaside homes and in the south of England the price of some properties can be as much as £1 million more than the price asked for similar properties in the North. People buying a second home for holidays also pushes up the prices of coastal properties.
When Is The Best Time To Search For A Coastal Property?
There is usually a dip in house sales during November, December and early January so searching for a house during these months can give you a bargaining advantage especially if the seller wants a quick move. It is also a good time to look at coastal properties so that you are aware of what the area and living in the property is like during the winter months.
Advantages And Disadvantages Of Buying Seaside Property
One of the key advantages of buying a coastal property is simply the location. Living by the sea gives you fresh air, beautiful sea views and if you are outside of the town or village, you get peace and tranquillity.
Fans of water sports will have easy access to sailing, swimming and many other kinds of fun. Additionally, many parts of the UK boast coastal footpaths so rambling is on your doorstep. Buying a commercial property by the sea means you can combine living and making a living with a cafe, restaurant or bed and breakfast establishment.
With all the good points of coastal living come a few reservations. Local amenities are important so look for good transport links within easy distance of the property.
A cliff top home sounds amazing but you could find it difficult to get access in the winter months. Property by the coast suffers considerably from the elements so needs more maintenance than an inland home, as well as the possibility of problems from things like rising damp.
There is also the possibility of coastal erosion and flooding both of which can be devastating. All of these factors should be taken into account when you are looking at coastal property for sale.
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Beachfront Property For Sale In The UK
Whilst beachfront properties seem highly desirable in the summer, you could find your home taking a battering from storms in the winter. Property situated directly on the seafront is much more expensive so consider looking at property for sale a little way inland and you could save up to 50% on the asking price.
You can still live very close to the sea without being right on the coast. Moving even half a mile inland can save you a fortune when it comes to buying property in a seaside location.
Although beachfront and coastal properties are very attractive, many do not have a garden or a garage. Buying a property that is even a few streets back from the seafront could save you thousands and give you more room.
Finally, an important but often overlooked aspect of beachfront an coastal properties is how easy they are to access. The summer months often bring large amounts of tourists, especially in places like Cornwall and Devon, who can cause tailbacks or even gridlock on roads, so factor this in when looking for your ideal home by the sea.
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