Table of Contents
- Finding Coastal Property For Sale
- Is Coastal Property A Good Investment?
- Looking For The Perfect Coastal Property
- Where Can I Find Cheap Coastal Property?
- Finding An Abandoned Coastal Property For Sale
- Coastal Property FAQ
- Advantages And Disadvantages Of Buying Seaside Property
- Beachfront Properties For Sale In The UK
Finding Coastal Property For Sale
Buying a home at the seaside is a dream that is shared by many people. 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.
Homes right on the coast 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%. However, these big increases were mainly for properties in the south and south-west of England.
A property that is located within 100 metres of the shoreline can be on average worth around 12% more than one placed a kilometre or more inland. This premium price affects properties in England more than those situated in Scotland and Wales. So, investing in coastal property for profit can be highly dependent upon which area you choose to buy.
Looking For The Perfect Coastal Property
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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 the task. If you have in your mind a certain area 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 property is often still a matter of making some compromises.
Properties situated by the sea are usually advertised with local estate agents and many of these businesses will have a presence on the Internet. You might also be made aware about properties through acquaintances or friends who live in the area. Homes by the sea are very popular and you might find it difficult to find a property with your exact requirements so be as flexible as possible when looking at coastal property for sale.
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Where Can I Find Cheap Coastal Property?
There are plenty of cheap seaside properties in the UK so if you want to live by the beach or intend to buy as an investment you can find lots of opportunities looking at coastal properties for sale. Towns in the North offer larger properties with lower prices than those in southern counties.
Typically, the average price of a house in Skegness comes in at around £155,000. 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 Lakes, an average property costs £134,000. If you are interested in a commercial property you can find a small restaurant for sale in Norfolk at an asking price of around £30,000.
Finding An Abandoned Coastal Property For Sale
If your dream is to buy an abandoned or derelict property and renovate it, 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 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.
There are also some abandoned chapels and barns which can be turned into beautiful homes by the sea. It is important to secure planning permission if you are intending to change the use of any abandoned property. Living by the sea comes with many delights but it can also be challenging. Check out below the pros and cons of buying a coastal property.
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. 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.
Beachfront Properties 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 coastal property for sale a little way inland and you could save up to 50% on the asking price. In addition, you could find insurance premiums for or a seafront property more expensive.
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 properties is how easy they are to access. The summer months often bring large amounts of tourists who can cause tailbacks or even gridlock on roads so factor this in when looking for your ideal coastal home.
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