Buying a Southern Rhode Island Beach Home: Three Things to Consider

If visions of sand, surf, and sun are occupying your thoughts, then maybe you should think about buying your own beach home. Not only will it offer happy memories for you and your family, but it can also offer the potential for some extra income. But before jumping into the proverbial waters, here are some points to consider to ensure that this is the right move:

Budget

Beach houses come in all shapes and sizes from grand mansions to quirky cabins. Some may be right on the water, and some may require a short walk. Whatever you consider, make sure you crunch some numbers and establish a budget before starting your house hunt. This gives you an idea of the types of houses to look at that are in your price range. 

Community

The amount of time you plan on spending at your beach house will help you find the Rhode Island community that is right for you. Do you like being in the middle of action and nightlife, do you prefer a family-friendly area, or do you crave more quiet and privacy? Also, if you enjoy motorized water sports, then you may prefer an area where you can meet like-minded people. In addition to looking at the properties themselves, get to know each community to find the perfect spot.

Rental Investment

If part of your plan includes renting your beach house occasionally for some income, then there are some additional aspects to consider when viewing homes. For example, you may want a secured storage area for your personal family items when you are not there. Depending on how far away you live, you may need to hire a property management company to look after the property when you cannot. While there are some extra costs involved in using your beach home as a rental property, knowing what they are in advance will make choosing the right beach home that much easier.

Your next move

Buying a beach home can be the right decision โ€“ as long as you know what you are getting into. Take your time, create a budget, and figure out what you need to make this choice the perfect one.