If you’ve ever dreamed about living or vacationing to oceanfront condos, you’re certainly not alone. Beach condo rentals have been and will be some of the most lucrative and sought-after pieces of real estate property anywhere in the world. There’s just something about that warm ocean breeze, taste of sea salt in the air, and intrigue of the deep depths that make people pine for access to oceanfront condos.
Vacation rentals can satisfy the desire for a time, but if you have the means you should consider buying beach condos instead. Here are three reasons you won’t regret this decision.
- Timing is Right: With the economy overall slowly making its way back from the darkness of the recession, the housing market has begun to show signs of life as well. That’s what makes right now the perfect time to invest in oceanfront condos. In many places the prices are still significantly lower than what the market value will be for them in the near future. Unless you expect another serious economic collapse to happen sometime soon, there’s probably no better time to buy than now.
- Vacation Getaway: About 78% of people take domestic trips for leisure purposes and 45% of Americans take summer vacations specifically. Vacations to the beach are the most popular destination for summer vacations, with 45% of people citing it in one recent survey. Instead of worrying about booking vacation condo rentals and reserving the date and time you want, you can buy oceanfront condos yourself and not have to worry about it.
- Rent it Out: Finally, one of the best aspects of owning oceanfront condos is the fact that you’ll always have the opportunity to collect passive income when you’re not using it. Finding people that want to rent this type of spot for their own vacation will never be a hard thing to come by. The average amount vacation rental owners generate annually in rental income was $27,360 per year.
Oceanfront condos are a great investment for the above reasons and if you’re in the position to buy, it could be well worth it.