Author: Craig Delman Added: July 11, 2008
You've seen the signs as you've driven by the beach "Beachfront Condos for Sale" "Surfside Beach Condo Available" Owning a home on oceanfront property is a dream that many of us have. If your one of the lucky people considering the purchase of a beachfront condo, it can certainly be an exciting process; it can even be a great experience...if you know what you're doing. Without at least a little bit of knowledge on living on oceanfront property and basics of purchasing a surfside beach condo the experience can be downright scary and costly. No need to fear though, because we're going to cover five things you'll want to know before you head out to look some of the many beachfront condos for sale. Know Your Spending Limits - Get Pre-Qualified for a Mortgage Loan When you're prequalified by a mortgage lender, you'll have more leverage with sellers in your purchase of your new home. Prequalification means a lender has informally reviewed your financial situation and found you capable of taking on a loan in a specified amount. It doesn't guarantee that you'll get the loan, but it shows sellers you're serious about buying and gives you a more defined spending range, which will definitely be a factor in finding your new surfside beach condo among the many beachfront condos for sale. Explore The Location and Be Sure This is Where You Will Enjoy Living "Location, location, location" is one of the most commonly used expressions in the real estate industry. I would also say to check out the general feel of the neighborhood, the people that live there, the commute to work, and how far you have to travel from you're your new surfside beach condo to the grocery store or local convenience market. Conduct Some Research Living in a condo community usually comes with a few bylaws, association rules and other declarations. And there may be additional consideration because the condo community is located on oceanfront property. Be sure to get documentation of these stipulations before making the decision to buy. Knowing all the rules of the community up-front can certainly avoid any surprises later. While you're at it, get to know the property management too. Find out what you can on their history and expertise in the industry and take time (if possible) to talk to a few of the residents to get their input on living in the condo community. Inquire About Any Building Services Available Some surfside beach condo communities are known for their "built-in" services. This can be part of their overall appeal. But don't assume your prospective condo comes with a certain service - find out for sure. Is there a maintenance man or building engineer? If so, what hours will they be available? If there isn't a general maintenance man is there a service that you recommend using? Some condo communities contract service providers which offer discounts to condo residents at a group rate. Learn about Preconstruction Pricing Developers will sometimes offer significant price breaks in the early stages of development. You may see a "Beach Condos for Sale" sign weeks before you see any signs of construction. This is done to attract buyers during the preconstruction phase. As construction begins on new development, demand usually goes up. And we know what happens to prices when demand rises! So watch for those early for sale signs and if you can take advantage of preconstruction pricing, you'll probably enjoy your new home with the added advantage of a substantial savings.
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