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How many of you would not like to own a property on the coast? Please raise your hands. Let's be more precise. How many of you would not like to own a Summer home or studio on the coast? I see many hands are up. The truth is that most people would like to own a home with ocean or lake view. Others would like to spend a few weeks at an oceanfront property. If you are out on the market to buy one, you may have to look for a long time unless you are in some hurricane-prone area in Florida. Well, let's take it back. Most Florida homeowners are not ready to sell out their prime ocean view properties despite the constant threat of hurricanes every year. Floridians are used to living with risks. Natural calamities make them grow stronger. As soon as the hurricanes are gone, they try to rebuild. At the same time, they hit the beach to have the famous hurricane party where hurricane drinks are served to the beat of Salsa music and other hip hop tunes. After all, it's Florida. Miami Beach. Vero Beach. Cocoa Beach, Sebastian, Stuart, Delray Beach, New Smyrna Beach are some of the beach areas where most homeowners keep their properties to pass down from one generation to the next.
What hurricanes Frances, Ivan and Jeanne did to the coastal areas, orange groves, sugar cane plantations, hotels, private residences is nothing that will push away die-hard Floridians. If some people leave from Florida, others will soon replace them. From immigrants to first-time homebuyers who are looking for the American Dream of owning a home, homes and properties will be bought in a heart beat. With the passage of these natural disasters, it makes sense that there's going to be a construction surge in Florida, mostly in the coastal areas that were hit the most. Already, industry insiders are worried that the prices of construction materials may soar. This reality may bear bad omen for the rest of the country where demand for new houses can't keep up with the supply. For example, California developers and builders may want to raise the cost of the entry-level homes because of the scarcity of materials.
No matter what, what's clear is that despite all the weather threats, coastal properties have appreciated at an average annual 7% rate over the past 50 years, according to a federal study. A waterfront property is worth from 8% ,pre (on the Gulf) to 45% more (around the Great Lakes) than a comparable inland site. Do you want to find your spot on the shores of California, Florida, Massachussets, South Carolina, Norfolk, Cambridge, Md. Anapolis, Newburyport, Portland, Maine, Bellport, N.Y etc?
Here is a list of a few things to consider:
In California, here are a few places you may want to check if you are interested in coastal living.
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