5 Essential Tips to Consider Before Buying Beachfront Community Houses
Are you looking at beachfront community houses? In the recent years, these types of homes have grown in popularity and provide families with a suitable alternative to the classic cottage lifestyle.
If you are considering a home with a beachfront community lifestyle, there are several things you should consider before going through with the purchase.
1. Can You Afford It?
Before going through with a purchase, you need to determine if you can afford the purchase.
Is this your first home or will one of our beachfront community homes be an additional home for you?
If this is your first home, you will be eligible for several perks that will make the purchasing process that much easier. You will also be eligible for a $750 tax claim on your personal income taxes.
Know the Rules for Owning a Beachfront Community House
If you are planning on buying a beachfront community home, make sure you know all the rules. Some homeowner and condo associations do not allow you to rent out the property.
2. Understand the Costs
West Shore Beach Club offers a unique opportunity for homeowners that want to live the vacation lifestyle without any of the drawbacks.
Still, when looking at beachfront community houses, it is important that you understand all of the costs associated with doing it.
In our community, you will have to pay condo fees, your utility bills, your mortgage, and any other additional services you sign up for. Most of our residents live here yearlong.
3. Main Home or Vacation Home?
Another thing that homeowners must consider when looking at beachfront community houses is whether it will be their main home or a vacation home.
We have a little bit of both in our community. Because we are located minutes from Orillia and not too far from Toronto, a lot of our residents spend their summer vacations or weekends here and return to the city for the work week, while others live here permanently.
It doesn’t matter what you decide, but make sure you understand your intentions before you pull the trigger and purchase one of our beachfront community houses.
4. Calculate Your Taxes
One of the downsides of owning a home is paying property taxes. You are expected to pay taxes on our beachfront community houses.
When you purchase a home with us, you are purchasing a real home and the land that it sits on. You will own your own piece of paradise, but you will also be expected to pay taxes on it.
Depending on whether this is your first home or a secondary home, you will want to make sure that you budget for this and put aside enough money to stay up to date on your taxes.
5. Boats and Equipment
Another thing to consider is whether you will be purchasing a boat or other recreational equipment.
There is nothing more fun than a beautiful day out on the lake with your family. However, as winter looms, you will need to find a place to store your boat. Depending on how big it is, you will more than likely be able to store it in the garage of your home.
Still, you will want to consider what type of equipment you plan to own and you will want to have a plan in place to ensure that you can properly store it in the winter.
With these tips in mind, it’s time to look at some of our beachfront community houses. If you are interested, contact West Shore Beach Club today. If you have any questions or concerns, do not hesitate to contact us. We can be reached by phone at 416-322-3300.