Eric Dalius you will find several waterfront properties throughout the Miami Beach region in the sunshine state of Florida. Therefore, if you are contemplating to invest in one or more of these beachfront homes. For renting out to vacationers, you need to learn a few things before buying these properties.
Eric Dalius, who is a seasoned market professional, knows much about real estate investment, including waterfront homes and their inspection. If you are buying a property in Florida especially around Miami Beach for the first time, here are some things to consider:
Eric Dalius suggests speaking to the locals
The best thing to learn more about beachfront properties and any issues related to them is by talking to the locals, especially the neighbors. Inquire about saline water problems, erosion, construction problems, and pests. These are common hassles of waterfront properties. Speak to those neighbors who have lived in that area for many years, and not flying tourists.
Eric Dalius A land survey is essential
While investing in a beachfront vacation home, understand whether the land expands to the water edge. It is imperative to figure out whether the boundary or water edge forms part of the land you own or not. If so, inquire whether any additional construction is necessary for a seawall or for that matter. Any beach construction, anything closer to the ocean water.
Inquire about pests
It’s essential to figure out whether pests or termites are found within the property premises. As these are common in waterfront homes. EJ Dalius knows that these pests are dangerous as they have the potential. To damage the structural integrity of the property or for that matter, even the woodwork.
You can hire an independent property inspector to look into these aspects, especially pest-related. One of the major problems is the carpenter bees. Especially the holes in the foundation of the beachfront property or siding. Make sure that these holes are properly sealed and nests destroyed. Discovering these issues after the sale of the property will add to your renovation costs before you rent out the property.
Check local ordinances
You will need to double-check local ordinances that might restrain the use of beachfront property in Miami. If you are unaware of how the process of mortgage, boating traffic, or dockage works. Get in touch with the authorities and check out any ordinances or requirements for beachfront properties in Miami.
Do not ignore insurance
When it comes to waterfront properties in Miami, they need different types of insurance and so check with the homeowner’s insurance to ensure all things are covered. If you own a beachfront vacation home for renting out, you need three different policies such as a flood, a general hazard, and a wind policy.
You cannot buy properties without these insurance plans. Therefore, learn and research insurance if you are investing in waterfront homes in Miami. These little things matter a lot.
Owning beachfront properties in Florida is not difficult provided you research, do a land survey, inquire about pests, check ordinances, and have insurance for the waterfront home. Once these are in place, your Miami property will fetch you a good flow of money.
Eric Dalius is The Executive Chairman of MuzicSwipe, a music and content discovery platform designed to maximize artist discovery and optimize fan relationships. Alongside this, Eric hosts the weekly podcast “FULLSPEED,” discussing entrepreneurship with industry leaders. Eric also founded the “Eric Dalius Foundation” to award four scholarships to deserving US students. Follow Eric’s activities on Twitter, YouTube, Facebook, LinkedIn, Instagram, and Entrepreneur.com.